Marko23

At 1st target after a deviation

If 5m is your standard timeframe, as Thales suggested, the following does not apply to you. When I follow the Thales' method to trade EUR/USD, everything is setup for 15m as the visual standard. If price doesn't move quickly after a good start signal, I sometimes find myself switching the timeframe to 5m. This morning there was such a situation, when price twice touched different 78% marks in the wedge and did not proceed. If I switch to 5m in such a context, I usually draw a false conclusion from what I see. This is my "5m trap".

May I answer without being interpreted as knowing it better or nosey, just from my own experience? I don't want to stir up anyone.

This was a reminder to myself since I found me playing with a 5m chart, because EUR/USD moved so slowly.

EUR/USD: Short triggered earlier

EUR/USD Short setup

Should have switched to Short after I gave up Long. ADD: at 2nd target

EUR/USD: stop at break even ADD: stop moved by 2 tick ADD: lower high, out with +11

for political correctness: 78.6% instead of 80% ADD: This 3 part stuff is not the projection of an anticipated movement, but my rationale for the stop.

5m trap, in my humble opinion.

Late post for EUR/USD ADD: I'll stay with 15m chart, no 5m stuff!

This is a very useful observation. It is confirmed by a rule from Neely, which basically says "If it channels, it is most probably corrective." Your hint, to short from the top, is great; thanks, that never came to me.

Not for me, I get a little tired, will switch off soon. There was more than enough in FDAX.

This made it look fishy to me, the rally looked too slow.

EUR/USD missed the 100% mark, fast decline follows

Upmove has five visible segments. If the coming correction does not retrace far beyond 62%, 1.4028 may be the bottom. That's vague, but the future is completely unknown to me.

Many thanks for your teaching of a good breakout method. Many thanks for keeping this thread a very pleasant place to learn. Kind regards, Marko

Yes, but I didn't want to get cocky after spotting the turn around.

USD/EUR may turn in small degree ADD: 1st Long at target ADD: Stop for 2nd Long at break even ADD: 2nd Long at target

EUR/USD Long

EUR/USD five segments down in the last move of the downtrend. Rule of thumb from yesterday verified.

EUR/USD downtrend continues

Beware of theories, or get another "count".

EUR/USD: market has to present support. A theory may present anything. ADD: I'll give it a try.

EUR/USD: 5th wave about 80% of 3rd wave.