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Showing posts with label Fractals. Show all posts
Showing posts with label Fractals. Show all posts

Sunday, May 27, 2012

Elliott Wave Analysis of EUR/USD (Fractals)

I initially posted this fractal to members back in April 2012 and i was using a previous fractal from a high made in August 2012 at 145, and the expected drop was to be a strong break lower.

This was at the time i was reading all sorts of silly targets of 136 up wards to 150, i did wonder what planet these traders were living on, because at the time, i simply never saw any evidence for such a move.

It reminded me back in August 2011 and traders again were looking for 150+ even 160 i remember on one forum again, i sometimes wonder do people just have a brain freeze and forget about history?

Anyhow fast forward, we are 6 weeks on and over 750 pips lower from that initial posting.

It just shows you a little bit of effort can do wonders, using a prior fractal from Aug 2011 foretold of a high probability trade on the EURUSD, yet i never once saw this idea on the Internet.

Maybe i just look for the edge a little too much, edge or no edge, using history shows you that traders do the same thing over and over again, we just seem to forget it.

This is the core basis of Elliott Wave, using fractals and price action from the past to project the future going forward.

Saturday, April 14, 2012

GBP/USD Fractals (Elliott Wave)

As traders, actually humans we are a herd, we do the same things over and over again, so as patterns repeat,we can use those for potential setups, its the basic concept and the building blocks for Elliott Wave theory, although fractals often get overlooked

I am fan of looking at certain waves created from the past and mirroring those to project potential targets along with a valid Elliott Wave count

If the next sequence is setting up for this move (marked in red) we should be on the cusp of a big move lower, towards 152, although the initial support of the 200DMA and 157 will need to be broken as that is strong support

With a potential smaller H&S within a larger H&S, this really does make it an interesting pattern

You will note there are no Elliott Wave counts, i am just using symmetry

Of course it helps when you are tracking a valid wave count, as it builds a picture of evidence, as shown for the obvious wedge formation which we call an Ending Diagonal a very high probability pattern which yielded a great reversal as was expected

Simple Effective analysis

Monday, February 13, 2012

ES Fractals

We now are into the timing band based off the prior fractals, Day 53 is Sunday ie Globex ES open in US

So both time and price have been met, the chart is a copy of the one i posted in this weeks article on Safe haven

See here.

But essentially time and price have now been met based off the DNA from 2010 and 2011

Saturday, February 4, 2012

ES Fractals

Using the DNA of the previous rallies in 2010 & 2011, we have hit a potential target zone hit for this current rally, there were 3 rallies that were the same sort of DNA

Is this a 4th?

Currently on day 47