One of the key item of my trading approach states the higher DMR level (decision making price range) which price comes in the higher entropy in terms of further possible scenarios. Currently, variability starts from daily charts and to stay in line with market trend we need trade all possibilities to let the market select the real one.
Basic scenario.
Weekly chart, brown TW. Price is still forming corrective growing 1.1-2.1 line. The only way to trade the falling brown TW is to enter at 1.1 marker level via placement a corresponding order: sell stop 1.2655 SL 1.3305 TP 1.1900.
Daily chart, red TW. This wave is not available to trade long. Skip it.
Chart H4, blue TW. The wave is already entered at 1.2825 with SL 1.2655. Currently, blue 2.1 marker is expected to shift the deal's SL under respective level.
Chart H1, grey TW. The wave is entered and secured. Moreover, price came to SL within pips to close the deal. If it occurs we'll gain some profit. Yet, if price reverses from here upward to grey 2.1 marker, I'll try to close the deal near this marker level.
Chart M15, green TW. The wave is out of trading since the first two zigzags we may trade are left behind. We need to wait corrective grey line is complited before trying to sell green TW again. Stay in touch and wait sell stop setups.
Alternative scenario.
Weekly chart, brown TW. Price is starting falling in line with 2.1-1.2 brown TW line. To trade it an order was placed at 1.1 marker entry level. It was mentioned in basic scenario. Alt. var. doesn't doublicate orders.
Daily chart, red TW. The first falling zigzag of red TW is now developing. To trade it I place an order with the same parameters as for brown TW: sell stop 1.2665 SL 1.3305. Nontheless, it's not the same order becouse it will be guided in accordance red wave structure, i.e SL will be shifter to red upper markers.
Chart H4, blue TW. Here we have falling blue wave right at the start of impulsive final line. I placed and at blue 1.1 marker entry level: sell stop 1.2900 SL 1.3175. Current structure of blue wave implies either sharp drop down or another twi zigzags much lower from blue 1.2 marker. It comes from assuption of zigzags sum symetric structure which TW is produced by.
Chart H1, grey TW. Falling grey wave might be traded via order placement at grey 2.1 marker (crucial) level: sell stop 1.2950 SL 1.3175 TP 1.2690.
Chart M15. As in basic variant it's not available to trade since the first two zigzags are left behind. Wait for grey 1.1-2.1 line accomplished before start trying to sell green TW. Stay in touch and wait.
Basic scenario.
Weekly chart, brown TW. Price is still forming corrective growing 1.1-2.1 line. The only way to trade the falling brown TW is to enter at 1.1 marker level via placement a corresponding order: sell stop 1.2655 SL 1.3305 TP 1.1900.
Daily chart, red TW. This wave is not available to trade long. Skip it.
Chart H4, blue TW. The wave is already entered at 1.2825 with SL 1.2655. Currently, blue 2.1 marker is expected to shift the deal's SL under respective level.
Chart H1, grey TW. The wave is entered and secured. Moreover, price came to SL within pips to close the deal. If it occurs we'll gain some profit. Yet, if price reverses from here upward to grey 2.1 marker, I'll try to close the deal near this marker level.
Chart M15, green TW. The wave is out of trading since the first two zigzags we may trade are left behind. We need to wait corrective grey line is complited before trying to sell green TW again. Stay in touch and wait sell stop setups.
Alternative scenario.
Weekly chart, brown TW. Price is starting falling in line with 2.1-1.2 brown TW line. To trade it an order was placed at 1.1 marker entry level. It was mentioned in basic scenario. Alt. var. doesn't doublicate orders.
Daily chart, red TW. The first falling zigzag of red TW is now developing. To trade it I place an order with the same parameters as for brown TW: sell stop 1.2665 SL 1.3305. Nontheless, it's not the same order becouse it will be guided in accordance red wave structure, i.e SL will be shifter to red upper markers.
Chart H4, blue TW. Here we have falling blue wave right at the start of impulsive final line. I placed and at blue 1.1 marker entry level: sell stop 1.2900 SL 1.3175. Current structure of blue wave implies either sharp drop down or another twi zigzags much lower from blue 1.2 marker. It comes from assuption of zigzags sum symetric structure which TW is produced by.
Chart H1, grey TW. Falling grey wave might be traded via order placement at grey 2.1 marker (crucial) level: sell stop 1.2950 SL 1.3175 TP 1.2690.
Chart M15. As in basic variant it's not available to trade since the first two zigzags are left behind. Wait for grey 1.1-2.1 line accomplished before start trying to sell green TW. Stay in touch and wait.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.