Target zones on 15M chart after the break of support at 1.3479

Coreg's EW+HP+D/W Range

And the same story continues. Be aware that the GU printed ID/NR4 bar yesterday. An increase in volatility should be expected.

Coreg's EW+HP+D/W Range

birdland, when I get into the trade with half a position b/c the next support or resistance is close by, I average. You can always play with the size of your lot. Let's say you don't want to risk more than $150, and the end of the support or ...

Coreg's EW+HP+D/W Range

birdland, I wish it were from today. That's the last 2 days. image I posted this chart yesterday. They caught me on the bounce of the TL. image

Coreg's EW+HP+D/W Range

That's what I do during the NY session. +13+20+5+18+30 (all taken on the 5M chart). But I'm so engrossed in trading GU that I missed a very good trade in gold yesterday.

Coreg's EW+HP+D/W Range

For the 3rd day, GU is trading in a tight range. It's difficult for day traders, especially if you trade only one session, as I do. It is what it is. The resistance zone is between 1.3530 and 1.3545, and support is close to 1.3475. We need some ...

Coreg's EW+HP+D/W Range

GU makes another attempt to break 1.3479

Coreg's EW+HP+D/W Range

GU is at a critical point for today. Are we going to get a breakout or a bounce of the TL? image The daily chart is still in sideways to up mode. image

Coreg's EW+HP+D/W Range

1.3479 held on the first test. If the high is in place, more downside should be expected, but first, we look for one of the resistance zones (marked on the chart) to hold. image I updated PPs levels.

Coreg's EW+HP+D/W Range

If you took the trade, congratulate yourself for a job well done. The second target has already been hit. That was fast.

Coreg's EW+HP+D/W Range

I'm looking for a completion of at least AB=CD pattern today, targeting @1.3554 if LOD holds.

Coreg's EW+HP+D/W Range

Whale, you marked wave 4 as a leading diagonal; it can't be right. Another way to mark this upside move is as an ABC correction, and wave C can be an ending diagonal. image image image

Coreg's EW+HP+D/W Range

If the LOD is in place, we should target a minimum of 1.3546

Coreg's EW+HP+D/W Range

GU printed the ID yesterday, and today, both ends were tested; it shouldn't be a surprise. Heavy selling prevented a 1.36 (round #) level from being reached. Right now, a possible expanded flat is in the making (#2 in the scheme below). image ...

Coreg's EW+HP+D/W Range

Whale, without expectations (a.k.a. targets) and the playbook with the setups, you will wander the forest like a blind man. If expectation doesn't pan out, it's the message that a different formation is in play. Trading is not a sure business. We ...

Coreg's EW+HP+D/W Range

Whale, you are correct, Oanda has LL too. Just move B under LL. As long as B is above potential wave 5 and in 78.6-88.6% ret. zone, we are good. But, yes, details matter.

Coreg's EW+HP+D/W Range

Whale, I use a 15M chart for decisions during the trading day.

Coreg's EW+HP+D/W Range

If GU trades below 1.3479, wave C is in place, and a deeper correction is in order.

Coreg's EW+HP+D/W Range

Whale, very nice... Now, what to expect next? We still deal with 2 possible scenarios. Remember that if GU is in the process of making wave 4, the ride won't be smooth. image

Coreg's EW+HP+D/W Range

Whale, I have the same plan every day. Last day range, working like a charm, b/c people will most likely behave the same way, except for a knee-jerk reaction from time to time. image image

Coreg's EW+HP+D/W Range