Marko23

Daily chart of EUR/USD, waiting for 3rd push down I'm wearing my coder's cap for some days; please don't expect any real time charts from me. When I mix coding with trading that usually results in bad code and bad trades....

Just take the next trade.

EUR/USD 5 waves down, waiting for Long one degree smaller Not very fast. I'm out with +2 and out of the office.

EUR/USD: impulsive move down 62% zone erased, 1h chart, count to five

EUR/USD 4h chart

This happens when I think too much over wave proportions. The down move had a clear signal, albeit against the up trend. EUR/USD had something for everybody

The low border of DC should have fallen instead of risen. Perhaps Thales could comment on this, maybe I don't understand his definition of chop mode completely.

No new high, no new low; could become chop mode.

EUR/USD: trend is up Stopped for this obvious reason, errors do happen! This was a -1R event and my stupid error. 80% may be enough.

EUR/USD: decent 5th segment 2nd and 3th target reached Parabolic move up

EUR/USD: Trend is up At targets

EUR/USD Projections in daily chart

EUR/USD retraced into the 62% zone; trend is (still) up. Long again or Chop Mode! At measured move target, forget chop mode I'm out at the mm target, will switch off soon.

EUR/USD: Long with the trend Triggered, but no follow-up. Will get out at break even or better if no HH develops. Touched 1st target Stopped at break even

Thales suggested to show the signal level with initial stop and targets in advance. If it doesn't trigger that doesn't matter; nobody knows the future. The trigger is no prognosis only a possibility.

Another Long, a bit late Stop at break even, might drift sideways. Stopped at break even, was too tight. 1st target reached without me, moved stop too fast.

At lower low would stop me ADD: range contracts during last three bars. ADD: range expands to average and 2nd target is reached ADD: break even for 2nd Long ADD: stopped at break even

EUR/USD: 2 reversals above 62% zone Long earlier At 1st target

Reaction to the three pushed up. I didn't know of this, when I wrote my first comment; have no intraday currency charts on the PC at my home.

One can see three pushes up.

Should I have taken part profits? Yes, you deserve the profit. There were short opportunities during the first third of the session and long opportunities during the last third of the session. If you use the 5m chart to get early into a trade from a 1h chart: when the 1h chart triggers, you get the stop from the 1h chart. Your risk is lower, if your entry was good, but the stop is from the 1h chart.

One aspect about patrader's approach that recurred to me this morning: when you enter near the apex of a wedge, you enter in an area of low volatility; you enter "in mild times" so to say. Price may not develop a rebound but one should be able to cut a loss short.

You look at them as a smoothed picture or sum of the past -- what it is from it's very definition. If so, what indication of the future gives it to you that cannot be read from the price?

Could you please show a larger chart. This is only a thumbnail.

Perhaps I should underline this: I do not critizise the MA on your chart. But the obvious success of your efforts comes from your understanding of price action, not from picking the right moveing average. Please excuse any irritation my comments may have caused.