What Really Works From One Professional - page 8
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Hello JD,
I would like to know more about the v pattern. How do you locate it, determe targets, etc.?
Thank you,
GregHI, the v pattern exsists in £$, from the european open, a couple of pages back is an explanation....but its there every day....the first move will either be impulse(with the trend) or corrective(against the trend...basically the market will always move off a 3 wave movement....look below..
Th blue box indicator is the float..Alot of people on here dismissed it, originally developed by Gann, updated by Steve Woods, read his book Float Analysis. For those who will study it, its priceless. it will predict market turning points when time and price come together.some dont like it because it will change historically, but you have to understand the concept.The horizontal lines are murrey math, they are basically auto fib lines since past price action will predict future action.another over looked indicator....high-low zig, give some structure to the moves, dont use them for anything else since they paint the past..Macd, for strengh convergence and divergence shows turning points... also slow stochastic, major divergence indicator also good swing point....
Basically beacuse of how orders yesterdays unfilled are placed the market will look for swing points, trading off these extremes puts you in quite a good entry....
The MA's are expoential 4-24 in grey these act like an elastic band, never straying far...Red is 21, naturally it will always draw to this on pullbacks...blue is 60ema
some people use a 50, 55...but it will pull to 60 better...Pink is 200, say no more...crosses are good but i dont use these for enrty...i get in very early...oh, and shi channel, these are basically points of confluence, also channels are an important part of elliott wave analysis...
Alright,
Lets begin with the questions then !!!
1. Talk about this V paturns and how it works and what price movement one can expect or NOT expect? What does the "Big Boys" use and do? You mentioned this earlier in a post......or should I say the auto trades that happen.....
2. On the first chart with the 3 on it, the 3 you are using is a M1, M5, M15? the first chart does not show the time period.
3. What are all the Indicators you are using, damm you cant hardly read the chart !!! Hehe
I notice you use the Float indicator, how do you interprete it?
4. On the 2nd chart, is that a M5? And you had drawn 3 arrows, was this based from the Elwave ? And how did you know to go SHORT on the 3rd wave?
You are going to become very popular on this site dude!!!
Cheers[/QUOTE
Hi, it's basically a shakeout designed to look like a breakout for weak investors...trying to see where the real money will step...my brother has software that runs pattern algorithims and this pattern occurs with a very high %...
What is the program he uses?
And for the post on this:
DDE link is..MT4/BID/GBPUSD..
Where do I do this? MT4 or Elwave?
thanks dude
Alright,
Lets begin with the questions then !!!
1. Talk about this V paturns and how it works and what price movement one can expect or NOT expect? What does the "Big Boys" use and do? You mentioned this earlier in a post......or should I say the auto trades that happen.....
2. On the first chart with the 3 on it, the 3 you are using is a M1, M5, M15? the first chart does not show the time period.
3. What are all the Indicators you are using, damm you cant hardly read the chart !!! Hehe
I notice you use the Float indicator, how do you interprete it?
On this chart you can see the shakeout.....the market will always move in waves of 3 if your in the direction, you'll be fine on the 3rd wave..
4. On the 2nd chart, is that a M5? And you had drawn 3 arrows, was this based from the Elwave ? And how did you know to go SHORT on the 3rd wave?
You are going to become very popular on this site dude!!!
Cheers[/QUOTE
Hi, it's basically a shakeout designed to look like a breakout for weak investors...trying to see where the real money will step in ..my brother has software that runs pattern algorithims and this pattern occurs with a very high %..yeah i use 1 min for precise entry, 5 min and 15 min usually all 3 will confirm each other..the float indiactor is very useful a new float on all charts is very significant you'll have to watch it to understand how it works..or read The Woods book...i have it somwhere
the software is not available to the public....open elwave, when you have the chart displayed go to pricedata/realtime data feed/ a box will apear, in the top put MT4, second BID, third Whatever symbol you want..
hi guys, this thread its really great so far...JD69 thanks for your work, its really appreciate...Please keep posting like u have been doing it...
I follow elliott wave for a couple of months so far...and im reading all this with a lot of interest..
Thanks
Good trading !!!!!!!!
MATIASFX
hi guys, this thread its really great so far...JD69 thanks for your work, its really appreciate...Please keep posting like u have been doing it...
I follow elliott wave for a couple of months so far...and im reading all this with a lot of interest..
Thanks
Good trading !!!!!!!!
MATIASFXHI, thanks..if anybody needs files let me know..how are you going with your trading..With the v pattern you really dont need to be an expert to try and spot it. Its usually the first very 2 moves. Sorry if i was vague in my discription of the float...It was developed by Gann originally to capture where the smart money is, those buying at the bottom and selling at the top...The only way to fully understand is to have it on your chart, people dismissed it because they did'nt figure out how it works...its like anything though, sit by the roadside for long enough, you'll be surprised at what you see, everyday life repeating itself...
heres the template
Aw it hurts
sorry guys not trading, iam off to the dentist, bad fucking tooth ache. But i've just taken this shot, V every day every week, it will give you 100 pips before you even get out of bed...
Thanks a lot for sharing your experience jonnydenver.
Can you recommend some reading about elliott waves?
Do you spot turning point of this V-patterns basically when price bounces of a big S/R line like murrey math and stoch an macd are at an extrem level?
Does an increase in the float indicate that more smart money is coming into the market?
Thanks again, and I hope the dentist was able to help you...