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Trade of the Month
Anggota Sejak Jan 09, 2014
110 pos
Apr 13, 2015 at 07:55
Anggota Sejak Jan 09, 2014
110 pos
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 .
Anggota Sejak Nov 21, 2011
1718 pos
Anggota Sejak Jan 09, 2014
110 pos
Apr 13, 2015 at 11:32
Anggota Sejak Dec 11, 2013
30 pos
Discipline with your trading plan!
Anggota Sejak Nov 21, 2011
1718 pos
Apr 13, 2015 at 12:11
Anggota Sejak Nov 21, 2011
1718 pos
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.
Apr 14, 2015 at 06:57
Anggota Sejak Dec 11, 2013
30 pos
Anggota Sejak Nov 21, 2011
1718 pos
Anggota Sejak Nov 21, 2011
1718 pos
Anggota Sejak Nov 21, 2011
1718 pos
Anggota Sejak Nov 21, 2011
1718 pos
Anggota Sejak Oct 11, 2013
775 pos
Apr 20, 2015 at 08:55
Anggota Sejak Dec 11, 2013
30 pos
@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!
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