dojitrader

dojitrader

Stops on this one are rather large above X so I've also indicated another stop point just above the next small resistance level. with an eye towards reentry if needed Strongest point of this trade is the combination of point D entry at a decent resistance level.

dojitrader

This idea came from trying to make sense of all the "noise" this pair has produced within the rising channel. What I like about this set up is A = C and it is contained within the channel like corrective price is commonly found. Selling the top of the channel is my thought for the best point of entry and, even though this is a line chart, I'll be watching the...

dojitrader

Still time to get in on this Cypher, but, I'm just not sure if this Aussie rally is over. If the candlesticks produce a bearish signal with low risk I'll give it a try. Stops above X are larger than I'm comfortable risking with the Aussie rally breath still in question. Watching for now.

dojitrader

If price keeps going beyond this idea: Then maybe this is where the pair is headed before a reversal - maybe a double top ? If so, stops should probably be a little higher.

dojitrader

Guess I crammed it all into the title. Two stops are shown for those that think the .618 should produce an immediate reversal or a little higher if you think price will retest the ED trend line break. Or, maybe this is also a possibility:

dojitrader

Which trend line will stop the correction and send this back down to the measured move for the double top. As usual I'll be seeking guidance from the candlesticks for an entry trigger and stops. Somebody wake me if this hits, I'm headed for some Zzzzzzzz's. Stops are too big for a limit order - for me, at least.

dojitrader

Looking like the harmonics and symmetry of this corrective price action is continuing to fall into line. No Doubt, the RBA rate statement will mess that up !!! Anyway figured to put this out in case it does come into play as planned.Low risk as any price print below c will shoot this idea down completely. I've included a chart in the comments that show the...

dojitrader

Others have noted this area of long entry. JesusDiaz published a Bat and I seem to remember 1 or 2 who noted the Gartley on different time frames. Along with the Gartley, of course, has an important alignment of ab=cd. I'm looking for 1 more little down move, perhaps some sort of double bottom to enter long.

dojitrader

Elliott Wave portends the end of a corrective wave for another leg to the upside. The fly in the soup is that the harmonics seem to morphing into a moving target. Looking for an entry somewhere in the middle should the candlesticks not shine their light on the proper entry and stops.

dojitrader

Looking for a 3 wave correction in a 4th wave to get on board the 5th or A/C wave down. 3 waves are the key to signal this is possible or it's likely headed for the top of the channel once again. Always seeking guidance from the candlesticks for good entries and stops.

dojitrader

But Where ???? Oil was looking very bearish but, has broken important resistance above $96.50 and now new highs above $97.81 and done so with a rather bullish wave count. So, I'm looking for a place to go long . . . Perhaps if we get a 5 wave subdivide in this ii/iii wave the opportunity will present itself The alternate comes into play if price moves below...

dojitrader

Questioning the end of this ED since the hallmark of such a pattern is that each leg subdivides into 3 waves. The 1st and 2nd leg are obvious, but, the potential 3 - 4 -5 are difficult to subdivide with clarity like the first 2 waves. IF - you count 3-4-5 as the subdivision then we need 2 more waves to finish this off and hopefully give us the other hallmark of an...

dojitrader

Caught this aggressive short just before i could no longer keep my eyes open so I did not publish. This 4th try to break the top reminded me of W D Gann who said something to the effect that when a 4th attempt to make a new high/low trade in the opposite direction. If it does break to new highs or lows go with the trend. Short from 1.52745 with low risk stops...

dojitrader

The Gartley High does not really have harmonics/symmetry that gives one confidence in it's success. And the risk/reward is not that favorable. The Gartley Low has the potential for great harmonics/symmetry including an ab=cd that could play out nicely into the buy zone. I'm thinking that the Aussie is ready for a rally on a larger degree so, my bias is hoping...

dojitrader

As I recall, and I should probably reread the notes, a 3 drive pattern is considered a trend change pattern more than a trend continuation pattern. So it seems an odd place to find a 3 drive, since the larger degree indicates this is possibly a 4th wave, or A Wave, maybe even a 2nd wave, a b wave ? Just don't see where it's a 1 a 3 or a 5 wave impulse. Thus, as a...

dojitrader

The COMPLEX corrective action of this pair, especially since the highs of Oct present a baffling challenge to any EW trader, let alone, the limited knowledge of my EW studies. So, I thought I'd stimulate a lot of luck with a smidgen of knowledge - some would say just enough to be dangerous - and publish the outcome. Should price reach point d I may try and short...

dojitrader

From the top around 175 the correction since seems incomplete and needs at least 1 more leg down. If I'm right it should be a strong downside C leg for pretty good profit. However, the completion of b seems rather elusive. If b repeats itself and almost touches the .618 retracement that expands the price range yet, to get there would make the time factor...

dojitrader

I think I'll go for the top of the trend line and watch the candlesticks for a sell trigger and stop placement, so, I did not include that in the chart.