Catching a reversal or correction - page 38
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
That is, all technical analysis is good on history, but on the edge of the chart there are only two options, either up or down. I agree.
But, it's not really about waves. It's about the 1-2-3 pattern and its likely continuation.
To declare that this thread is about a 1-2-3 pattern, you need to formulate that pattern, without ...-4-5. Then we can talk about this very pattern. And as wave programmers put the cart before the horse, i.e. according to their markings it is impossible to unequivocally define if this is the 1-2-3 pattern or not, without knowing about possible or maybe impossible continuation of the ...-4-5, so there is no need to assert that this branch is about the above named pattern.
I'll try. Uptrend. The next top is higher than the previous one, the next base is higher than the previous one. Pattern 1-2-3 in an uptrend, the next top is lower than the previous one, it breaks the horizontal line of the previous base. Where it is -4-5.
Sorry for interfering. Beginner's view: Pattern 1-2-3. Classical entry upon breakdown of the horizontal line 2. This first breakdown or breach is often false, especially on H4, then it is followed by pullback to Fibo 23% or 38% where Gerasimm likes to enter. I will try to explain my vision of the situation. With this pullback, the market tries to unhook everyone with a short stop, and also those who were taught in DC courses. And this movement, again, to my mind, is even more predictable than the next one. So why not take advantage of it. And the first order will be a +10 pips pullback from the breakdown point. Further, if the course of events is necessary, it will be at 23% or 38% Fibo, or it will be reversed, or closed, or it will stay. I don't know. Please don't be too harsh.
An interesting observation. In such pullbacks, a so-called Ross Hook is formed.
"The Ross Hook is an extremum formed after the breakdown of point 2.
The Ross Hook is usually the result of lagging forces working towards the previous trend. Typically, the RH point is a trend line or indicator signal indicating the need to buy (or sell) on that trend.
The classic variant is working on the breakdown of the RH point. After the breakdown of RH point the trend is considered to be completed.
This is for your judgment, so to speak.
It's a scalper's grail. Profitability 200-500 pt per day (4 digits) when working on minutes. Martingale is allowed, but almost never used. Drawdowns are insignificant.
On higher TFs losses, but on the oldest ones - penny profits. Basically, everything is logical (according to Paukas). :)
It's a scalper's grail. Profitability 200-500 pt a day (4 digits) when working on minutes. Martingale is allowed, but almost never used. Drawdowns are insignificant.
On higher TFs losses, but on the oldest ones - penny profits. Basically, everything is logical (according to Paukas). :)
Of course I can.
Read the thread.
It's a scalper's grail. Profitability 200-500 pt a day (4 digits) when working on minutes. Martingale is allowed, but almost never used. Drawdowns are insignificant.
On higher TFs losses, but on the highest ones - penny profits. Basically, everything is logical (according to Paukas). :)
Can you share this version of the indicator (camcohob@mail.ru)
No.
It's a scalper's grail. Profitability 200-500 pt a day (4 digits) when working on minutes. Martingale is allowed, but almost never used. Drawdowns are insignificant.
On higher TFs losses, but on the oldest ones - penny profits. Basically, everything is logical (according to Paukas). :)
Have you already started to rewrite the code of your grail in MQL5? :))) Are you going to participate in the Championship 2011? That's my point! ;)
I would watch closely the trading of your expert who would make 200-500 pts a day! :D
tara:
In principle, everything is logical (according to Paukas). :)
Could you be more specific? Would you like a quote from Paukas?
I believe in a brighter future, but not for everyone, unfortunately.
1-2-3 is anti-scientific nonsense and so is the whole tech analysis.