After I set my support/resistance zones, I switched to the 5M chart and traded with it, checking 15-30M charts at half-hour intervals.

Coreg's EW+HP+D/W Range

The dollar index 4H chart doesn't give any bullish indication so far.

Coreg's EW+HP+D/W Range

rehmatkhan, right now GU is in limbo and undecided in the middle of today's range. It can go either way on intraday TF (30-60M). I marked the recent drop as A??? so my expectation is down (2nd leg of AB=CD pattern)- maybe the Dollar index wakes up ...

Coreg's EW+HP+D/W Range

The standard zone for the end of wave (5) is between 1.356- and 1.3574. The maximum for the day should be set in this zone.

Coreg's EW+HP+D/W Range

Do you have another trading method you can use when the EW pattern is unclear? I use range (daily, weekly, last swin on HTF), HP, or plain Dow Theory with TL, channels. Our task is to find potential support/resistance zones on our setup TF. Below is ...

Coreg's EW+HP+D/W Range

That's how I see the pattern unfolding.

Coreg's EW+HP+D/W Range

ABC, WXY, or 1-5 patterns end at the same zone. Then the minimum correction of 38.2-50% after these patterns is expected.

Coreg's EW+HP+D/W Range

What do you expect after the WXY pattern? A new high. Where your idea can fail? at the exact zone I marked on my chart. Do you see where I'm going with it? Labeling is not as important as we think. We deal with dynamic trend analysis so PA is the ...

Coreg's EW+HP+D/W Range

You always know when the market doesn't unfold to your expectations so a backup plan kicks in. If you correctly established a support zone for the potential end of wave A and took a long C-T trade you would be sitting on 90 pips profit. image

Coreg's EW+HP+D/W Range

rehmatkhan, if I can't label the swings with full confidence I go with the ratios from the guidelines to find the potential end of waves. I don't force the count. @1.3594 I know it can be the end of wave (iii) or (v). image After this level is ...

Coreg's EW+HP+D/W Range

...or reverse positions when the breakout fails

Cable Update (GBPUSD)

Abeylyn, if you give yourself more time to study the last glorified Leon the Shark trade, you will notice that he was underwater for 16 days with the highest DD at about 300 pips. But he trades 2.5 cents per lot so he can afford to be in the hole ...

Cable Update (GBPUSD)

If GU makes a 1-5 pattern, the first target is @1.3445; otherwise, AB=CD is in play, and the target is @1.3524.

Coreg's EW+HP+D/W Range

The dollar seems to wake up and form the morning star on the daily TF. Be cautious with longs on GU and EU.

Coreg's EW+HP+D/W Range

Targets for today only are: 1.3494-1.3488

Coreg's EW+HP+D/W Range

Gold is hovering just above the regular zone for potential wave 4. As long as the price stays above 3252, there is a chance for a new high. Otherwise, we can expect deeper correction to 3173. The first resistance zone as of right now is between 3310 ...

Coreg's EW+HP+D/W Range

[quote=Waveskierrob;15255798] Waveski, my guess is 150% because that's what the blind squirrel does (takes a victory lap) when it finds the nut.

Cable Update (GBPUSD)

The end-of-the-week bonus...Gold 4H chart image image

Coreg's EW+HP+D/W Range

Guy, that is very nice, all done by the book. Now set the zone for potential wave 4 after ABC. The channel suggests a new high. We don't know if we get there, but it should be objective. The failure to reach a new high will tell the story, too.

Cable Update (GBPUSD)

GU touched the bottom boundary for the end of wave 5 at 1.3537. The upper level is @1.3654. The best is to examine the move from 4 to 5 and look for 5 fractals on lower TF (30 M-1H). image Possible plays on the 30M TF. image

Coreg's EW+HP+D/W Range