EURUSD - Trends, Forecasts and Implications (Part 1) - page 307
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But the point is that you shouldn't treat wave analysis that way... It has a right to exist and you shouldn't throw crap at it either, that's what people who don't get on with it usually do...
I'm not. I want to see a system. I want to see a wave trader who uses this system and does not say "these two drawdowns, I was distracted, and these balance up moves, the spirit of Elliot gave me advice".
If we take the end of Friday as an example, we try to understand what will happen in the course of trading, we usually accept less favourable conditions for successful trading, but as soon as there is time for analysis we immediately see the full picture...EURUSD M1, M5, M15
M1 - the third wave has ended - the fourth and fifth waves are expected to end
M5 - it is difficult to say anything here, but in my view the third top is being drawn here - the strategy of three Indians + Wolf waves
- the downside movement, the level can unambiguously suggest M15 but the preliminary variant is 1.4691 (the HOR and 0.236 lines are practically next to each other in the picture)
M15 - the end of the third wave is clearly visible and, consequently, downward movement is expected - the level of 1.4709 (OR level), which fully corresponds to 1.4705 on M5...
While all these pictures I checked 5 options for each TF, one good thing is that I don't need to rebuild the indicator permanently at the moment - positioning data after point setting for each TF is saved on the disk and then automatically positioned when selecting the TF ... so semi-automatic markup helps a lot - but all this is because you try to eliminate routine operations unnecessary and transfer them to the computer in the process of work ...
You, I understand, are in the bays... Let's join forces, analyse by d/c. OsMA. The settings are standard. On 4H, the envelope is up, it's already working. 1H - divert up, already working. M30 is the same. But on M15 the diverter is down... It's interesting. It's a risky point, though... It depends on the lot. It is quite possible that the whole Asia will go down from the opening on Monday.
I'm not watering it down. I want to see a system. I want to see a wave trader, who trades on this system and does not say "these two drawdowns, I was just hung over, and these balance up moves, the spirit of Elliot told me to do".
You may start with simple things, try them on with what you see.
You, I understand, are in the bays... Let's join forces, analyse by d/c. Osma. The settings are standard. On 4H, the envelope is up, already working. 1H - divert up, already working. M30 is the same. But on M15 the diverter is down... It's interesting. It's a risky point, though... It depends on the lot. It is quite possible that the whole Asia will go down from the opening on Monday.
Helen, what indicator do you use to look for the divergence?
experience is the thing that not only helps you learn, but also inspires you to do it again and again and the more the better...
+10
and with experience, you get that intuition.
Helen, what indicator do you use to look for divergence?
I wrote it - OsMA. Moving Average of Oscillator
In general, I also use TurboJRSX. It's very heavy for a machine, but very good for visualization. It smoothes well and is versatile in the sense of application to all pairs. And it works very well, i.e. on trend lines "inside itself". Of course, this is just my assessment.
Yes, you can see it clearly by eye here too. The white rays indicate d/c. 4H, for example.
You, I understand, are in the bays... Let's join forces, analyse by d/c. Osma. The settings are standard. On 4H, the envelope is up, already working. 1H - divert up, already working. M30 is the same. But on M15 the diverter is down... It's interesting. It's a risky point, though... It depends on the lot. It is quite possible that the whole Asia will go down from the opening on Monday.
The whole problem in the bay was that I was not able to close the order, the whole problem was because at 22:00 BC stopped closing the order - it writes no price...
I have to say about the risky point that RC re-opens the order every new day.
>> I'll be glad to do it.