Buy, sell or hold? - page 7
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show the H4. or the equivalent of bars.
Something says to sit on the fence... )
At the bottom - far enough away you can put a buy limit with a good take.
;)
Here's the H4. The last bar corresponds to the last bar on the M15 chart at the top (page 6).
My aim is to learn how traders make decisions in such situations: looking at patterns, indicators, older timeframes. It's always more interesting to look at examples. I may learn something. What other objective is possible here? I have already obtained something interesting for myself from the previous example. Thanks to those who participated in the discussion of the first example.
I do not specify the symbol, price and time so as to focus on the decision-making process, but not on searching for this portion of the chart in the history of the specified symbol.
I would also look at the MACD. Anyway, H4 is not my territory.
This is Thursday 12:00?
Probably on the fence.
I would also look at the MACD. Anyway, H4 is not my territory.
This is Thursday 12:00?
Probably on the fence.
Why is the fence on a Thursday?
They've gone too far away from the wrecker. If you buy it, you're counting on a bigger fool. And if you sell - "against the wind".
Socan we have a look atthe MACD?
Here's the H4. The last bar corresponds to the last bar on the M15 chart at the top (page 6).
The fence is not because of Thursday, but because of the specificity of the picture.
They've gone too far away from the wrecker. If you buy it, you're counting on a bigger fool. And if you sell - "against the wind".
Can we have a look at the MACD?
H4 with MACD
Buy it!
Five wave complete, targets met
Take on two squares on H4
If it does not break through the descending sloping channel or fibo-wire 38%-50% (which would be very helpful)
Then we solo to the area of - 2.5 - 3 squares on the H4 (in the area of half of the previous upward movement)
Buy it!
Five wave complete, targets met
Take on two squares on H4
If it does not break through the descending sloping channel or fibo-wire 38%-50% (which would be very helpful)
Then we solo to the area of 2.5 - 3 squares on the H4 (in the area of half of the previous upward movement)
I am not very familiar with Eliot waves. Could you place them on the chart above. I am very interested to see.
That's what's to the right of the bar. Those who predicted up were right. My prediction would have been down based on a break of the support level. EURUSD, H4, 2012.02.16 12:00
I am not very familiar with Eliot waves. Could you place them on the chart above. I am very interested to see.
For a more or less competent plotting, you need at least Fibo tools. I don't have them in Paint. Either tell me the Currency and date (since you have already opened it), or next time you have to arrange the right tools on the chart points I have specified.