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I'll have my eyes on that long entry. GJ moves quick and is becoming my pair of choice next to NU/NJ.
Same here. They know I'm a weak hand and I'll cut my losses quick. Lol
Good deal. Holding to TP 161.30 That's just ahead of the FE 61.8 level.
Pennies you can just about look at the price and tell when I entered short GJ. It immediately shot up 40 pips negative when I clicked the button. Gotta love it.
You may be right pennies. It appears to forming an inside bar on the 4hr now. So some downside may be near term.
Long EA @ 1.5687 TP 1.5880 that's all I need. Now off to the store
Absolutely Jav. That's why I stick around after all these years. Plenty of knowledge to gain here from him and everyone. The TDI basically gives us entries and the FE gives us targets. Can't ask for much more. Everything else can be used for confirmation. The 61.8 FE is basically a retest of prior support/resistance. If it breaks that level it's a continuation and if it holds chances are it's a reversal, at least temporarily anyways and you can use that swing to draw a new FE with a new target level. IMO. Good stuff either way.
Yes according to the ADR GJ is over extended for the day but it hasn't touched 61.8 FE yet. So I wouldn't short right now but expect it to retrace midway of that last leg. That's where I'll reenter short again later.
I actually like when you're right pennies. So do others here. I had all the right positions and directions but since changing my leverage to 30:1 my account wont allow me to jump in as early as you do. I was short GJ then almost got faked on the false breakout topside. I closed that long for about 2 pips after your post then I went short again @ 165.76 almost a perfect entry. I went to sleep and woke up right as it was forming that hammer so I closed it for 130 pips. Now this morning it's down another 180 pips past my close. I missed the EA long and the AU short but made up for it on the GJ contract. Oh well That's life. Good call though.
I did the same thing pennies. Lol. Closed the GJ short at 130 pips plus closed my options contract on it for a nice one. Back to sleep as well although an EA long is looking tempting
I'm still learning the wave count but I'll get it though. Can't believe I fell for that fake but I quickly recovered. 161 is over 400 pips away. I may be able to take a nap on this one
Yeah pennies it head faked me. After 65 pips I closed but got back in after realizing the fake. Now up 56 pips, imagine that.
I'm pulling FE's on my charts now. Small short on AU. Still holding off on EU long for now and just went short GJ @ 165.37
Double dip...now that's what I'm talking about. Lol. 30 pips quick here and there will do it. I was basically hoping EA wold rise so my AU options contract would fall. I have my eyes on EU for now though.
That didn't take long either. A quick 33 pips on two positions. Helps recover the 56 I lost on it. That makes for a good profit taking tool.
33 pips on reentry of EA long. Just closed at the 61.8 Fib tool. That helps.
What settings are you using for the TDI pennies? Mine doesn't look like yours.
Alright 56 pips in the hole is enough on EA long. Gotta cut it loose.
Yeah I closed that long after you mentioned the news release. I was waiting on the break up to re enter which it didn't come. I missed the move but that didn't cost me a thing.
Lol.. I wouldn't say brave pennies, probably stupid or risky.. The way I figure it is that the wave isn't complete until price action hits a specific target. Once these return maneuvers are completed then it makes for a nice entry in the opposite direction especially if it lines up with the wave count like it did on the EA. So I'm long EA @ 1.5606.
What time? I wasn't aware news was coming. That could the reason for this push upwards. Thanks. That changes my perspective now.
Disregard. AU news has passed. I closed the long now but will wait for the break and close above .6674 to reenter my long to 67.
I'm long NU to 67 first pennies.
Don't forget it's presidents day so the banks may be closed
So on NJ 4 hr we have a wave 3 peak, with a rising wedge approaching the 50% Fib @ 76.51, under my 34 period smoothed MA and gap nearly filled. I guess a short is in order lol.
Hey pennies, I've posted a chart of the AJ 4hr. The squares indicate the "snap back maneuver" (for lack of a better term) that I referred to a little while ago. When price action makes a violent move, either up or down, it leaves gaps in the chart that are hard to see and must be filled. I think it's due to unfilled orders and that's why the return is usually choppy but I'm still researching the reason. Sometimes these gaps are filled immediately and some can take a little while but they must be filled. I couldn't highlight all of them without the chart getting crowded but I think you can get the gist of it. GJ 4hr has a nearby area @ 167.43 above and the retest @ 160.96 below that must be filled. I don't know which will get filled first but it looks to forming a wedge all the way up to the 167 target first then back down to the 160 though it's currently at the 38.2 level. So it needs to break the wedge very soon or it's going up to the 167 level. JMO though.
Morning. I'm about ready to add to it though. Maybe that will get it going. Usually in the opposite direction though. Lol
Already in short on this one pennies @ .6653 Been holding a small position since last night but it's slow moving though.
Looks like I should have held my AU short as well. No worries. I'll get back in soon.
My hourly TDI has so much wobble in it that it's hard to identify the waves. I think I'm back on track now though. Around .7181-.7188 is the powerful 70.7% Fib level. Hopefully it'll stall there. It's looking like it's going parabolic now so a retrace is due.
Looks like .7218 is in order for AU to the 78.6 fib. I'm not for riding a 100 pip move against me so I'm out for now. GJ could hit the 50% Fib @ 167.40 I'll wait on that as well.
First AU short opened @ .7115 just under the trendline, upper parallel and 61.8 Still may see some more topside so the position is small
I think we are on the same page on that one. I'm shorting all the way up to that level.
Yeah pennies, I had a possible break of the pitchforks and retest the .7186 level in my post to Jav. The forks doesn't have many hits on it so they may not be valid. Whatever wave that daily chart is currently on, it looks promising. I have it listed as 4 though but I haven't been listing the mini waves within waves so it could be off a bit.
Haha. Those are just mini charts. I found it in the MQL-5 market place. Most of the ones I've seen are horizontal and can be placed in a separate window at the bottom but I liked the vertical one plus there's different arrangements for it. I try naked charts but I'm still a sucker for Indies I guess. Now if the wave count on that AU is correct, then price should break out of the pitchforks and retest the highs specifically around .7186 We'll see though.
I can see that possibility. Esp when we're taking the lion's share of the moves although my AU short is dragging it's feet at the moment.
Shorting AU here @ .7100 right around the 50 FIB then back to sleep.
Thanks Kirby. That insight on the TDI along with the FIB boxes helps a lot. Not to mention the pitchforks that I still use and it makes for a nice system. If we can label those waves correctly we might actually make some money. Hopefully you did well today.