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I should mention pennies that this current months candle is a bearish candle and is approximately 150 pips from hitting the supporting trendline on that weekly wedge I posted. I'm wondering if we will we see a bounce from that supporting trendline to take us up 700 odd pips to the top trendline again or are we about to see a real break down through and well below that supporting trendline to make a 5th wave bottom 2000 pips and more below or to make a C wave which would be some several thousand pips? I know that there is a lot of smaller waves on the 4 hour time frame etc to get right on a losing positons, but I'm curious as to where price action would take us in the longer run.
Pennies......is my wave count right inside this weekly wedge and is this considered a diagonal triangle? The bigger question though......will price breakdown as I've annotated in advance or similarily? This is a bearish wedge correct? And in my monthly chart below my weekly chart, I'm wondering what the wave count would be there. Are we in a wave B up, or a wave 4 up? Or ???
Weird.....ihub wouldn't let me log in earlier. I thought they had closed my account already, but they didn't apparantly. Why would I not be able to log in an hour ago, but can now???
I do need to fund my current account though....
I'm with you on the larger wave 50% fib support and the TDI bullish divergence, and we even have the TDI fast line curling up from it's descending trendline as if we should see support nearing very soon on the 4 hour chart. But I hope it's more soon in terms of the amount of time it takes to turn and the amount of pips left in this move down before a bounce happens on that 4 hour chart.
Hey pennies......yeah, it was fun with heat sealed bolts that snapped at the thermostat housing requiring heli coils and more time than I wanted to spend in zero degree weather.
I'm not seeing any bearish divergence on TDI for GU, but none of the indicators I'm using are in an oversold state. I expect to see more downside despite the TDI and goodman pattern. I'm staying light for that reason. If we see no more break below the most previous low, than I'll be frustrated over the failed indi signals but glad that I was in at least for some profits.
I hope you're right regardless though because I'd rather have immediate profits to lock in either today or tomorrow, than to have to wait another 40 hour or more before all those other indis are tapped out and a bounce of some type occurs.
Btw pennies........I'm not seeing any bearish divergence on the GU chart in any time frame. Are you? Maybe we are good to go here for a nice bounce....
Hey pennies......GM to ya! I replaced my daughters radiator and thermostat in her little toyota truck yesterday which got the heater and defrost working again finally but then by evening she called to tell me that the heater wasn't working again.
Oh well, at least the weekends not a total loss, since sdcaalan posted the divergence quick referal charts. lol
charger........speaking just for myself, I like every indicator window setup except for the "Hooya Map". It's more of a distraction to me than a useful indicator; again speaking for myself.
However, I'm really liking the "snake and borders" indi overlay for showing divergence and nearing reversal alert, while your "Fisher Transform" indi overlay appears to do a nice job of fine tuning the actual price action reversal candle.
What are your parameters for the two indi overlays, if you don't mind sharing? I'd like to slap a TDI and TRIX/PPO overlay on the chart to see what I get.
sdcaalan..........I just printed out these posted charts of yours showing the different TDI divergence types. I think I used up half of a black ink cartridge, but I now have something on my desk or wall to refer back to quickly when I get confused over the divergence type I'm looking for or seeing. I'm already good with the bullish, bearish and hidden bullish divergence, but I was totally confused as to what to look for in bearish hidden divergence.
Knowing that it might save us from ourselves when we go long on a pair that isn't really ready to reverse from it's bearish trend yet, especially on the 1 hour and larger time frames where there's consolidation which we didn't enter long at a great price point to begin with, and then fail to see that there's a another continuation move down shaping up that we don't realize because of all the other indicators lying to us and telling us that there's going to be a reversal when really there's not going to be a reversal for another 100 to 500 pips.......you've offered us all good orientation to divergence and done us all a huge favor in putting them all together so we can do a quick check to see if, and what type of, divergence is to be found at any given consolidation area. Thank you!!
That would explain the difference. eom
Nice trix/ppo pinch on the 15 minute chart which might coincide with stargates 1.5824 support line and the 100% fib line on my 4 hour chart as it plays out. Who knows though......not me.
estimator........are you using a UK based MT4 platform?
GU just a little beyond the 88.6 fib off the 4 hour prior long wave up. And it's just hit my 1 "Trade Entry" line on the current 4 hour fib box. I'm adding another light position to my first initial light position and will add again at the 50% line and the next "Trade Entry" line below this first TE line. After that it's the 100% line and then the next fib box TE line that gets hit. I expect it'll bounce somewhere before that though. I hope.
So much for divergence on the 15 minute chart. I'd like to know where GU is really headed. Maybe the 1st "trade level" on the 4 hour chart fib set below? Or maybe the 50%? Or maybe it'll blow past the lower "trade level" and move down to the 100% line on the fib box bottom? I hate it when divergence doesn't meet crap!
Pennies.......after watching that Dean Malone vid yesterday where he suggested that the CHF pair would probably resume it's uptrend based on hidden divergence, I began to wonder if maybe that hidden divergence was to be found on the yen pairs all those weeks where we kept thinking that one 5th wave or another was going to bring our assumed reversal. I think we need to spend some time becoming as familiar with hidden divergence as we are regular TDI divergence.
GM pennies and all. I didn't trust GU overnight so I closed out with profits while I could before going to bed, but I'm in again long here based on bullish divergence on the 15 minute chart.
sdcaalan........there are more "hidden divergence TDI" vids by Dean on the compassfx.com website in their vid inventory list. It may help to watch those additional vids on the subject.
Thank you......I'm not going to be able to rationalize any trades off the fib box until 1) I get a UK based platform opened and 2) I better understand setting that 1st initial fib set off a (or "the") most reliable and accurate swing high/low wave for trading with.
Pennies......no rush on a reply regarding the daily EJ fib confusion on my part, and I'm curious where the next fib reversal target is on EJ according to your fib boxes and best guess right now. I don't trust my own fib boxes and wouldn't be sure where to take a fresh short even if I did have my fib lines matching your own at this point.
" If you enter it better be quick because they are causing it to turn on a dime.".....yeah and they've been doing it for weeks on end!
Yes, but where's it going to? What fib line? Pennies.....help! LOL
Ok pennies....so in my quest to find knowledge in which precise wave I should be setting my first initial swing high/low fib set off of, I need to know why you chose to use the wave with the yellow fib set on it (see chart below) and not the daily wave with the blue fib set on it which I believed to be the true swing high/low wave. I could sure use some clarification. TIA!
Hey......I have to leave for a half hour or less but I have a question for you when I return that I have to post a chart to and don't have the time at the moment.
Pennies.....could you post a chart of your fib boxes on your GU trade here so I can orient around your fib boxes since mine are set off Alpari US MT4?
Pennies and charger........I'm sure I haven't fully mastered interpretation of the fib box, TDI with TRIX overlay/PPO pincher template I'm using but I'll tell you this....it sure made me hesitate and pass on your GU long this morning pennies while not giving me pause or reason to not take your EJ short trade.
Between the fib boxes, the TDI coupled with the TRIX/PPO indicators and the moving averages I'm using, I'm begining to feel a bit more comfortable taking positions now that I felt blind going into before.
I doubt that I've "arrived" at the point of finding the perfect charting setup and method of trading forex, but I'm way ahead of where I was even a week ago I think.
Pennies.....I see you would have gotten your 117.50 at the 15min 240ema line. But there was the break of the low first with it's near 40 pips of drop before it finally bounced up to get there...
Still though, a good trade. I'm liking this fib box thing. lol
GM pennies......I thought this may have been a trade of the TDI as the TDI fast line had bounced off the trendlne set off tops of the prior three waves. I'll watch your vid asap this am to see how the fib boxes offered their own setup at the same time. I have a suspicion that this will happen a lot where there is confirmation from the TDI of fib box and price action hesitation indicating a pullback or reversal.
Another good TDI trade for you. I didn't exit when I could have on that pop because my MT4 platform started to freeze up all of a sudden so I was busy messing around with it and trading blind while paying only half attention to the EJ long. And I wanted to hold out for the 50 expected pips if possible even without MT4 to trade from. So that last couple 5 minute candles changed my mind for me and I just closed out with only 25 pips not wanting to risk getting out at even if I waited.
Well I'm done for today. I'm shutting down and giving up. Thanks pennies for that fine trade. Talk to you all tomorrow.
Good deal. And being long on these yen pairs makes me nervous even though I think we'll see your bounce go well here.
I'm not letting it run against me beyond that mentioned low though if it does fall apart.
Very interesting charger, and definately worth takng the time to scroll back through the chart of UJ or any other pair to see how often that occurs.
It's not easy to break those bad habits is it? lol
If it doesn't play out as expected, is current low of 116.83 the line in the sand? I don't want to go to bed and let it run againt me even 30 pips if I can help it.
Pennies.....I joined your long EJ at 116.999 on that last move down on the 5 minute chart. Nice call so far.
Hey charger. I've got a chart setup with your mentioned trix parameters. What kind of feed back or specific input are you wanting from us?
Got it charger! I was unaware of the "previous indicators data" option effect and need to apply it. That was what I needed. Much thanks!
Tx SG.......I did set my fibs at the same wave you've chosen so that's promising. Now I can't see your prices clearly as your chart image is a little small for me to clearly read the numbers without a magnifying glass or readin glasses but it looks as if my chart differs from yours only in as much as would be caused by my Alpari U.S. based account vice your Oanda UK based MT4 account. I noticed that pennies Alpari is UK based too so I'll have to open a UK account if I can still in order to be on the same page with you. Thanks for posting the chart.
Getting busy here......time to bid you all a good afternoon and get going. I'll be back on at some point later today.
No need to apologise charger. I wondered if that weren't the case. I find that the pincher isn't a one stop shopping indicator as the price can still move with the trend for a bit before the reversal occurs just as I find with using divergence, but that pincher setup is pure insightful genius in it's foundation as far as I'm concerned. Even though the pinches can give early alerts, I don't find that it lies or gives false signals. I think it's a matter of discovery in accurate interpretation of patterns to be found within the setup. Same goes for the TDI. Pennies has studied the TDI and really developed a high skill of reading it. I'm playing catch up with both of you but I'm getting there surely though slowly.
Yep, that's why I ditched the ichi cloud on the main chart! LOL
There were 50 pips to be had on price action between the bullish reversal pinch indication and the following bearish pinch and I hope to be able to bank every one of those simple TRIX pinch trade opps one day once I feel confident in my ability to trade accurately off that pincher chart with the TDI and other aforementioned indicators giving further confirmation.