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According to my Elliott counting (by the way, don't trust yourself so much if the subject matter is Elliott waves), today low in EURUSD may be the end of the truncated fifth wave of the ending diagonal which is the last wave of the corrective expanded flat started at 28.08.2018 ...
If correct, the new highs above 1,1815 can be seen in the following weeks.
So how to trade this observation ...
Open long nearly @ 1,1520 (wait till the first trade hours of Monday, opening new positions in these late hours of Friday is not a good practice)
Stop @ 1,1475 - 1,1480
Target > 1,1850
Maximum loss for this trade: % 2
If you have 1.000 $ in your account, then the position size is 0,05 lots ... in other words, your potential loss should not exceed 20 $ for this trade.
Ps. Elliott wave theory, mainly is a tool for the stock markets, is not so suitable for analyzing the exchange rates ... but it is really very addictive.
Hi, thanks for sharing this. I have never used Ichimoku indicator before, how do you find it? and what are your settings and preferred time frames?
Ichimoku is standard indicator in Metatrader4 and Metatrader 5.
To know more - please find this summary -
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Ichimoku
The beginningAfter
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The video -
Forum on trading, automated trading systems and testing trading strategies
Financial and trading videos - Table of Contents
Alain Verleyen, 2013.10.02 16:02
Indicators.
According to my Elliott counting (by the way, don't trust yourself so much if the subject matter is Elliott waves), today low in EURUSD may be the end of the truncated fifth wave of the ending diagonal which is the last wave of the corrective expanded flat started at 28.08.2018 ...
If correct, the new highs above 1,1815 can be seen in the following weeks.
So how to trade this observation ...
Open long nearly @ 1,1520 (wait till the first trade hours of Monday, opening new positions in these late hours of Friday is not a good practice)
Stop @ 1,1475 - 1,1480
Target > 1,1850
Maximum loss for this trade: % 2
If you have 1.000 $ in your account, then the position size is 0,05 lots ... in other words, your potential loss should not exceed 20 $ for this trade.
Ps. Elliott wave theory, mainly is a tool for the stock markets, is not so suitable for analyzing the exchange rates ... but it is really very addictive.
I'm sorry for diluting the topic.
The position was stopped out ...
I hope no one here lossed more than % 2 from this trade.
Forum on trading, automated trading systems and testing trading strategies
Press review
Sergey Golubev, 2018.10.15 08:48
EUR/USD - possible daily bearish (based on the article)
==========
The chart was made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:
Same system for MT4:
Forum on trading, automated trading systems and testing trading strategies
Press review
Sergey Golubev, 2018.10.18 18:59
EUR/USD - bearish breakdown (based on the article)
==========
Charts were made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:
==========
Same systems for MT4/MT5:
The beginning
After
S&R day start 29/0ct/18
Levels to watch for 30/oct/18