Harmonic Analysis - page 80
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Actually that's what I thought. Like me I'm testing fibo clusters. Both ABA and ABC work (not always of course) in my opinion as long as confluence or/and convergence is good. You don't have to hate relying on indicators because indicators do work if you know how to use them. It looks like USDJPY is looking for a direction in a consolidation. You can see on the left, there was a consolidation and finally broke.
I was awed by how things turn out to be last week, most of my trades were profitable and those who weren't are because I broke my stoploss rule were also hit both of my targets
I usually take 50% off at 30 pips and let it run to whatever the level the pair let me.
EURJPY on 5M bullsh butterfly 127.2 with 161.8 there might be chance to take my position off the gbpjpy if it doesn't hit my target due to their correlation.
there might be chance to take my position off the gbpjpy
That's how we should deal with cross pairs.
Btw at the same time there was a bullish 121. Worked out pretty well.
btw, how do you play those 121 pattern? just market as soon they appear?
btw, how do you play those 121 pattern? just market as soon they appear?
I just consider entering as soon as it appears but I don't consider if CD leg is too short. I try to find some confluence too by my eyes. It's a good pattern cuz it's easy to set SL. I think I had 8 121 patterns last week. 5 winners and 3 losses. One of the losses was the one on EURGBP and BOOOM I lost 130pips lol.
I just consider entering as soon as it appears but I don't consider if CD leg is too short. I try to find some confluence too by my eyes. It's a good pattern cuz it's easy to set SL. I think I had 8 121 patterns last week. 5 winners and 3 losses. One of the losses was the one on EURGBP and BOOOM I lost 130pips lol.
what's your timeframes do you trade this one?
and could you show me short CD leg that you don't trade?
what's your timeframes do you trade this one? and could you show me short CD leg that you don't trade?
I think it was 15 minute timeframe. What I meant was if CD leg is short and volatility or volume is low, I don't take it. e.g 38.2 CD retracement is my first target but if it doesn't grab even 10pips, I don't trade.
analysis h1 euro
USDJPY M15 - Potential bullish cypher. Fibo clusters meet around 78.6. Like I mentioned before, this pair is consolidating so it may be a good chance to go long.
Could you explain why not taking the highest candle to draw fibonacci?
I think it was 15 minute timeframe. What I meant was if CD leg is short and volatility or volume is low, I don't take it. e.g 38.2 CD retracement is my first target but if it doesn't grab even 10pips, I don't trade.
how do you check volume? is it reliable?