Harmonic Analysis - page 250
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Lobo, take a look at USDCHF weekly. Don't use any indicators. Tell me what you see and what's going on.
Lobo, take a look at USDCHF weekly. Don't use any indicators. Tell me what you see and what's going on.
Here you go if I happen to be able to upload anything right here
:
(14 KB sorry UsdJpy left on...is not concerned..this is from the weekend review of mine)
and here is the naked graph in different versions, I hope one of these will be visible:
..sorry not even the smallest partial one I am able to upload
...
so the other versions:
Chart USDCHF, W1, 2014.04.02 18:21 UTC, HF Markets Ltd, MetaTrader 4, Demo - MetaTrader Trading Platform Screenshots
regardless of all these, that was a nice buying opportunity if someone could pick the right entry. Now I start looking for a short
There R no indis as you suggested.
What is UR view?
Good luck.
Here you go if I happen to be able to upload anything right here
You don't need the pic above. Pay more attention to the chart. You're ignoring harmonic movement. You say it's not wise to sell now until price reaches the last supply level. Are you going to sell in that zone?
You took this too serious Lobo. You did not understand what I said. I DID NOT TELL YOU TO LEAVE. If it seemed so, I apologize. I started the thread but I don't own the thread. This is a open thread. Everybody can come by. You totally missed my point Lobo. I asked you WHY YOU POST PATTERNS WITHOUT CLEAR EXPLANATION. I want everybody to improve their trading skill. Everybody can find patterns. If you try to achieve something, make it clear. What you want to do seems blur to me. Keep posting but posting with your clear thoughts. Everybody has their own methods, but if you ask me to give you a piece of advice, STOP USING INDICATORS AND READ THE MARKET. If you want to leave, you can leave, it's your decision. I AM NOT TELLING YOU TO LEAVE.
Ryu, I do take it seriously, because it is right.
I will be here, but due to limited feedback and common learning I will be just as well keeping a pesonal log...I should have done it a long time ago. I liked the feedback, questioning, different views to consider, but really very limited - believe or not here is more than on other blogs, where mostly people are waiting the truth from the ONE the "Messiah"
Here is more peer communication, though I think this could improve too. I know I am in a mess due to not having yet a solid set-up and entry criteria, and one can see it on the pics I am sharing as well - however I got more organized believe or not.
Really I am happy I can be a participant on this blog, and will stay, just I guess I will not use it for my journaling
.
I know you did not or do not make me leave lol, thanks!
I really appreciate when we can discuss different views and help each other to improve!
Please explain HOW YOU CONFIRM YOUR EXPECTATIONS WITH ANDREWS' PITCHFORK. Do not write a lot. Explain briefly yet to the point.
Without too much words, since the rules I collected are gone from my HD after a Win 8.1 upgrade, and would need to look for those on a backup...
Plus I pulled the same chart as in the previous example...UsdChf
I assume Andrew did not check the 15 min charts before he made his 1st million on cotton, so at least the daily chart would be a good guide.
OK down to the matter....
Andrews pitchfork starts with an extreme high or low (point 0), connects to the following low (point 1) and high (point 2) with a median hopefully proving itself a median, where price likes to return. The whole thing shows up like an old style loudspeaker, or what was the name those times...
In the case of UsdChf D1 the pitchfork is pointing in down direction... so makes more sense to sell, and less sense to buy.
Assumption is, that 80% of the time the price will return to the median (similar to Fibo 50% retracement is most likely most of the times...but do not want to argue about this, just seen it, read it, smelled it)...
Also there are rules when price does fail to return to the median, the counter move expected to be as big or bigger, but how would one know, when it does not reach the median...this is where I gave up really using these rules...
There are rules added by others to the original Adrew concept, i.e. Schiff lines, and the ones from the origin (0) to the points 2 and 3 (the corners) when those are broken...etc...you asked me not to write a book here
...
In short...I see the main direction, and will consider bounce or break of edges of the fork and the median/deviation lines as potential support / resistance... mostly Daily, but possible to check W1/H4 just to get a better feel, but really I am not that experienced...
So here are the pics, sorry, just the new way I found possible to share, not the upload..:
(Before anybody gets shocked, I have left the comments on from the naked graph from the previous post, if bothering discard those, or on request I can upload a clear Andrew, let me know!)
Chart USDCHF, D1, 2014.04.02 18:53 UTC, HF Markets Ltd, MetaTrader 4, Demo - MetaTrader Trading Platform Screenshots
https://www.mql5.com/en/forum/183127/page167
P.s: there are people drawing the pitchfork manually at candle light, on 2-3 TFs and using these lines as sup/res confluences...I looked at that, but never really collected data, so I do not know if works or not.
I also noticed during my trading time, these loudspeakers are very often formed on the 5 point HP triangles...interestingly
You don't need the pic above. Pay more attention to the chart. You're ignoring harmonic movement. You say it's not wise to sell now until price reaches the last supply level. Are you going to sell in that zone?
Not confident yet to set up limit orders!
I should by the theory yes, since that is the only level below the TL if TL breaks, not possible to sell on this TF any more, need to go to a HTF, and also I see possible harmonics, but from that point on it will be part of my mess again
.
Here is a likely potential, however there is an X balow as well, less confident with that, but supply zone confirms chances with good MM there as well..
Chart USDCHF, D1, 2014.04.02 20:18 UTC, HF Markets Ltd, MetaTrader 4, Demo - MetaTrader Trading Platform Screenshots
You're not confident yet, be confident and wise and sell it at that point. That's your analysis. If you don't try or trust your analysis, you will never be able to be confident. Use no indicators and show us what harmonics you see on the chart. If you say you must have indicators to find harmonics, then it's fine.
Without too much words, since the rules I collected are gone from my HD after a Win 8.1 upgrade, and would need to look for those on a backup...
Plus I pulled the same chart as in the previous example...UsdChf
I assume Andrew did not check the 15 min charts before he made his 1st million on cotton, so at least the daily chart would be a good guide.
OK down to the matter....
Andrews pitchfork starts with an extreme high or low (point 0), connects to the following low (point 1) and high (point 2) with a median hopefully proving itself a median, where price likes to return. The whole thing shows up like an old style loudspeaker, or what was the name those times...
In the case of UsdChf D1 the pitchfork is pointing in down direction... so makes more sense to sell, and less sense to buy.
Assumption is, that 80% of the time the price will return to the median (similar to Fibo 50% retracement is most likely most of the times...but do not want to argue about this, just seen it, read it, smelled it)...
Also there are rules when price does fail to return to the median, the counter move expected to be as big or bigger, but how would one know, when it does not reach the median...this is where I gave up really using these rules...
There are rules added by others to the original Adrew concept, i.e. Schiff lines, and the ones from the origin (0) to the points 2 and 3 (the corners) when those are broken...etc...you asked me not to write a book here
...
In short...I see the main direction, and will consider bounce or break of edges of the fork and the median/deviation lines as potential support / resistance... mostly Daily, but possible to check W1/H4 just to get a better feel, but really I am not that experienced...
So here are the pics, sorry, just the new way I found possible to share, not the upload..:
(Before anybody gets shocked, I have left the comments on from the naked graph from the previous post, if bothering discard those, or on request I can upload a clear Andrew, let me know!)
Chart USDCHF, D1, 2014.04.02 18:53 UTC, HF Markets Ltd, MetaTrader 4, Demo - MetaTrader Trading Platform Screenshots
https://www.mql5.com/en/forum/183127/page167
P.s: there are people drawing the pitchfork manually at candle light, on 2-3 TFs and using these lines as sup/res confluences...I looked at that, but never really collected data, so I do not know if works or not.
I also noticed during my trading time, these loudspeakers are very often formed on the 5 point HP triangles...interestinglyWithout too many words? You wrote a lot again. I don't get your point clearly.
You're not confident yet, be confident and wise and sell it at that point. That's your analysis. If you don't try or trust your analysis, you will never be able to be confident. Use no indicators and show us what harmonics you see on the chart. If you say you must have indicators to find harmonics, then it's fine.
added above, no indi less words
.
Lower X will offer 20-30 pips before BE / with good MM though, but need to see PA to be confident.
Without too many words? You wrote a lot again. I don't get your point clearly.
Lot is relative, depends on spec., and was less than a 1000 pages book
, but lets give an other try:
Andrew down confirms my expectation going down. Hope simple enough?
Andrew lines will call my attention too
.
Cannot make it simpler.
See the attached pic worth of 1000 words (do not come back that 2k! lol, though I said would reduce on request to 1k only
).