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Trade of the Month
Member Since Jan 09, 2014
107 posts
Apr 13, 2015 at 07:55
CrazyTrader posted:mynightfly posted:
I guess your W and M patters are more like Gartley, Bat, Crab and other harmonic patterns, no?
Well, any harmonics makes proper double top or double bottom. I'm looking at a double bottom (M) or double top (W) with a specific pattern that look like a letter. It is true that it looks like a lot of harmonics pattern... however, I don't have to check fib retracement for any level.... So if you are lazy like me, it's good. My "M" & "W" can be awful patterns sometimes, while harmonics always look the same as it must respect fib levels.
Also with Harmonics, I'm not aware of Center Point that plays an important part for the validation of the Harmonics.
Also, StopLoss strategy is the same, It is very tight and just above/below entry.
Regarding to Takeprofit, they don't have hypothetical level to look at.... only partial closing TP 1 to TP 3.
I have forgotten to mention it for the last W... TP = 1.0380. (See blog to calculate it)
So:
Entry 1.1000
SL: 1.1050
TP: 1.0380
=> very nice Risk/Reward.
Ps: I haven't even seen that W... it's @ cevsmile that detected it first.
So yeah, I'm looking at double bottom or top with uggly harmonics shape... A real harmonics technical trader wouldn't entered this trade.... Shame.
I also follow your trading .
Member Since Nov 21, 2011
1601 posts
Apr 13, 2015 at 07:58
ManukSabung posted:
I also follow your trading .
Thx, I will keep posting for you guys : )
Member Since Jan 09, 2014
107 posts
Apr 13, 2015 at 09:08
urwelcme ... i like the trade with sl n tp ... so we in save mode if its goes profit o loss ... i also learn from your trade ...
Member Since Nov 21, 2011
1601 posts
Apr 13, 2015 at 12:11
cevsmile posted:
Master CT, do you agree with this?
Yes it's a potential "M" like eurusd on Daily.
But EUR is bearish, so it's better for now to ignore these patterns and look for bearish signal, like the "W" you saw last week on EURUSD H4.
Member Since Nov 21, 2011
1601 posts
Apr 13, 2015 at 12:18
GBPNZD is still a good one to trade both signals... as market is ranging:
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Member Since Nov 21, 2011
1601 posts
Apr 14, 2015 at 06:54
(edited Apr 14, 2015 at 06:55)
Fakey "M" on daily EURJPY.... better to play short
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Member Since Nov 21, 2011
1601 posts
Apr 14, 2015 at 07:13
(edited Apr 14, 2015 at 07:14)
cevsmile posted:
well, my broker doesnt have that pairs
What a terrible broker... o_O ?
NZDUSD Daily:
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Member Since Nov 21, 2011
1601 posts
Apr 14, 2015 at 09:05
cevsmile posted:
Hahahah,, well actually its limited pairs only for ECN trader.
Thanks for confirming my pattern.. yippiyay.
Your was on H4... mine in D1
Member Since Nov 21, 2011
1601 posts
Apr 14, 2015 at 13:15
cevsmile posted:
Than, it will be more accurate.
Actually your "M" H4 looking good.... I'm in from 0.7500
Member Since Nov 21, 2011
1601 posts
Apr 14, 2015 at 13:29
EURUSD D1... must wait to check out Center Point and see the rejection or continuation:
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Member Since Nov 21, 2011
1601 posts
Apr 15, 2015 at 07:31
Here we go... market rejected from Center Point:
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Member Since Nov 21, 2011
1601 posts
Apr 16, 2015 at 18:03
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Member Since Nov 21, 2011
1601 posts
Apr 17, 2015 at 12:34
CrazyTrader posted:
Finally....
Member Since Oct 11, 2013
769 posts
Apr 20, 2015 at 01:58
Very good patterns detected, they could be combined with some Fibo retracements and maybe get some Gartley patterns out of them.
Apr 20, 2015 at 08:55
@alexforex007 i did that, its awsome and accurate.
This pattern for me actually not the entry point but prepare for the next move.
Fibonacci will lead me to open and closing position.
I'am developing this as my base analyze system.
At least now im not blind trader anymore.
This pattern for me actually not the entry point but prepare for the next move.
Fibonacci will lead me to open and closing position.
I'am developing this as my base analyze system.
At least now im not blind trader anymore.
Discipline with your trading plan!
