____________
When AB=CD and a Pin Bar completes on the daily it could signal a little good fortune in the short/medium term
rgds -arco
Printable View
____________
When AB=CD and a Pin Bar completes on the daily it could signal a little good fortune in the short/medium term
rgds -arco
hi arco , any chance of a chart , id like to see ab = cd
thanks
i think you could probably label this diagram more imaginatively
oooh er missus , normally no lie about where its going
what a hoot
Hi DB
Here's the chart - almost a Gartley perhaps
thanks arco
i think there is a good case on many levels for a faded long at market open with stop just
below hammer low
fingers crossed
..............................
Lets hope we can nail it with that hammer.........anyway, I've decided to pin all my hopes on it. ;)
Just scalped a quick 30 pips on that little flourish, so I'll grab some dinner
and see how the land lies after.....
.........191 pips for the day.....might have a celebratory drink. :D
.
Couldnt resist taking a short on the 15m H&S formation.......went for a target based on the measured move and the UT line
.....+60 pips. It was set on auto pilot, but could have got twice that and change.....:(
Never mind I got +50 on the Euro as well :)
Makes a nice end to a reasonable week.
rgds - arco
Anyone spot 3 little Indians........Larry calls it a very rare pattern.
you sure it wasnt Linda who called it that
;)
quote Arco on goforex march 2006
This pattern has different names, depending on the source - Larry Pesavento describes the pattern as "3 pushes to a top/bottom", Jeff Cooper uses "Cooper 1-2-3 swing" nomenclature, and Linda Raschke likes to call this setup "3 indians".
Morning Peat
Just checking to see if you were paying attention. ;)
Three Little Indians was a setup popularised by Linda Bradford Raschke (also known as Three Pushes to a Top, Three Drives, Three Waves to a Peak, Three Monkeys on a Branch, etc).
It almost looks like we've got 4 Little Indians this morning......should I be first to name it......OK
4 bangs to the bottom - a very rare pattern indeed
Lets see is if rings the tills for 200 pips
.
4 Bangs on the Bottom....heres the chart
http://www.clipartof.com/images/thumbnail/757.gif
Should meet some resistance at the TL no doubt, but can
it make it to the 8500-8600 area...........well maybe just fx.
arco
3 Little Indians - I knew if I looked long enough, I'd trace them in the wigwams of the computer.
http://www.structurallogic.com/subsc...027%202000.gif
Update For: August 8
Posted On: Fri, 08 Aug 2008 00:49:17 GMT
GBPUSD
Last Price: 1.8528
Support: 1.8505, 1.8335, 1.8145, 1.8090
Resistance: 1.8615, 1.8685, 1.8795, 1.9000
The weekly chart reveals how it's possible to count five waves up from 1.7049. With an impulsive decline from the peak above 2.1100 we have to consider the potential that a top is in place.
So we have to acknowledge the count shown on this monthly chart that has a significant peak in place.
Thanks Peat fro the EW charts.
Those 3 or 4 Little Indians are definitely not playing the game........
......you wait til Linda finds out.
BOE rate decision tonight at 10 pm nz time,
rate cut has been ruled out by polled reuters economists.
BOE have a history of surprising and from current chatter and data seems there
may be an outside chance of a cut which should provide a breakout opportunity lower.
Hi DB
I thought it was @ 11pm???
its 11 gmt which is 10 pm nz time , but i could be wrong
http://www.bankofengland.co.uk/monet.../decisions.htm
midday UK time.
11 PM our time
http://www.timeanddate.com/worldclock/
saxo's got it at 11am gmt but with daylight saving thats 12 noon london
which is 11pm here .
didnt need a rate cut to hit the floor
got 80 on the way down
.
This is considered the UK's most important inflation data because it's used as the central bank's inflation target
Powerful Move Possible
.
Do you guys trade during news periods? seems a bit scary even with stops
sometimes , it sort of speeds a trade up , your either right or wrong.
got a long elliot wave count at moment.
Tok3n
If you trade the news.......you have to be able to feel the fear without quivering......
you need wide stops (or if you can - no stops).....you must take quick profits/quick losses.
Pre-release.
Secret is to try to be positioned before the event.....but you need to be able to judge the mood. And remember sometimes black is white, yes is no.....if you get the idea...........read between the lines
Try counting waves.....it can sometimes be a help
Good luck
arco
I was seeing us currently in wave c
with the 5 purple waves and the a and c wave in yellow
1 = 5 and if c = a then back to 1.77
But its just me sayin what I see....I'm very open to why this count might be wrong or how else to do it.
thanks arco , yes doc see on the chart currently in a 4th wave , which means there is still one more wave higher , 5th wave
not much use at the moment as risk is too great to go long from here
so waiting for 830 which may take price lower and a more favorablr risk to go long or break 3rd wave high to then complete 5th wave.
so just waiting
Interesting chart, we may have here a reversal.........
GBP.USD rebounded off 7 year support, entered a trade last night to see a retest.
hi S, choppy action on cable recently , very much in a broad range between 1.35 - 1.50
last few months.
short term action not a lot clearer 148.38 ( 61.8 of wave down) needs to hold and reverse and i would take opportunity to buy the move lower and close out short.
strong correlation at the moment with equity markets,i'm expecting short term, market decline to complete B wave but its going to be a choppy affair.(sp500 /dow)
in summary better fish to fry.
Hi Dumbass,
I have been reading your comments over the past few weeks. Very interesting.
I guess if I would have been following your lead I would have made money but some people are stubborn!!!!????
Anyway, at least your gbpusd latest projection looks good for me as I am short gbp with.
Thanks
it feels like there is no clear direction in forex markets at the moment.performance of the equity markets will determine short term direction.
Still favour a slow drift lower before markets hit their straps for a run up to 10 k + on dow, then Armageddon C wave lower.
The big trade to watch for the future is short euro, very surprised its held up so well and feel it will correct to parity.
.
The rounded bottom is a similar set-up and target to a H&S
.
http://www.freeimagehosting.net/uploads/4656ad8f90.gif
similar elliot wave count would have cable in a correction with a 5th wave target the same
as yours arco.
the charts seem to be indicating one final wave down in the USD and therefore one final
wave higher in equities before a great shorting opportunity.
how you seeing it ?
Short term chart
http://www.freeimagehosting.net/uploads/947986de51.gif
Potential H&S forming
http://i29.tinypic.com/2e4ceh5.gif
Good entry achieved off H1
http://i27.tinypic.com/1zps6ep.gif
a few red 30 minute candles is helping the 1.6575 entry from y'day along a bit better now to +60 but had to endure a -90 at one stage (with a -150 pip stop at the high of 1.6740.
I might try and hang out for that 1.53 grey box !
Could be we're impulsive down now coz that rally last 24 hours sure looked corrective to me
Hi Peat
Yes agree, it does look a bit corrective.
I took a profit on the original trade - I still find it real hard to resist a profit and to hang on through those ups and downs. :(
Anyway, looking to get back in now on a wave 2 retrace, and will try to hang in longer, or at least leave some on the table for the grey box.
H1 chart. Possibility of a wave 'c' move to the Kumo or just beyond to broken trend-line perhaps), - forming a Gartley.
Short term trade potential north. SAR at Gartley
BTW. I like the Evening Star on the daily chart.
http://i26.tinypic.com/2vdl1lu.gif
.
So far, so good.
http://i26.tinypic.com/2v0dhr9.gif
60 pips taken. Happy with that :).............could be more but I can sleep easy
I'll look for a reversal pattern to form below the Kumo.
http://i28.tinypic.com/2r7sti9.gif
Yesterdays action visited the Kumo as expected(yellow spot) giving a roller coaster ride for hangers on and only a few extra pips.
The current PA is bogged down under the Kumo, and with a DT line not far above and a potential flag, longs should be cautious IMO
http://i28.tinypic.com/20sxi0k.gif
Result - trade still open. I entered shortly after the bearish engulf (1.6536) with SL just above that arrowed candle
http://i26.tinypic.com/2vjpwjn.gif
yep - originial position still open, added some more last night and closed that out this morning for about a hundred pips.
You still in Peat?
http://i38.tinypic.com/r6whhw.gif
yup +300 ....
couldnt help myself - closed +387
I would need to close it in the next couple of days anyway due to being o'seas and offline so now seems like a good time. still have the Eur/Gbp long
Always good to take a profit
Also closed 50% off at exactly +300
Have a good trip
arco
yep its climbed 200 pips now back to the 61% retracement of the fall so could be toppy again here or slightly higher.....
Hi Peat
I got out of the balance as well with a nice profit.
Looking for re-entry.
Present PA looks interesting and it could reverse soon falling
through that thin Kumo below
http://i36.tinypic.com/eqdlxy.gif
Could be looking interesting for a short around 6390-6400
High was 6388. Gee I gotta sharpen up a bit :rolleyes:
Currently +31
http://i36.tinypic.com/imkx8i.gif
Nice work arco, I see the GBP is tanking against all pairs tonight
Yes, it might have a long way to go. The green line is the potential H&S I mentioned a while back
.
http://i33.tinypic.com/2gubcxf.jpg
Update
I've taken the profit, hoping for a retrace.
http://i33.tinypic.com/102wl7b.gif
Got triggered in to this trade this morning, and have now taken a profit
http://i36.tinypic.com/2yx1vyh.gif
I did see a bullish pattern form with cable after NFP.
small trade as its against the main trend I think but currently +63
closed this out for +97
Longer term the H&S may have its day
So IMO we could see a return towards the neckline, and if that holds at resistance, the bears may gain control for a while.
http://i34.tinypic.com/s63ma0.gif
Here's the earlier chart. I'm not sure if I got around to posting it
http://i35.tinypic.com/21mu6i0.gif
arco,
How did you see the position at NZ06:30 8th Oct?
1. Breached the three previous minor highs of 24+ hours
2. MACD divergence if you believe in such things
Morning Loofa
As per my previous post, PA had been indicating continued northbound movement, which I had been predicting for 6/7 days. (H&S test)
The 0630 candle started to set up another Ichi long signal on the 30m TF, and a position could have been taken or pyramided circa 1.5980 for a max gain of circa 140 pips.
Divergences can be powerful indicators, although like everything, they are not foolproof. In this case I have just checked and MacD certainly gave a good signal although I dont personally use it.
rgds - arco
http://i35.tinypic.com/25f3j3t.gif
Just reviewing the H4 and presently the PA may be forming a DCC at the Kumo top edge with Chikou baulking at the bottom edge. The bold purple line is the H&S line
http://i36.tinypic.com/1zez781.gif
Update - +230 pips for shorters
http://i34.tinypic.com/2uhx061.gif
I saw a continuation pattern in the triangle and shorted when it broke for best part of 50 pips in minutes.
Good spotting Peat
I was already in from Friday, and have also taken a nice profit.
http://i38.tinypic.com/id59i1.gif
Reaction long after the drop?
I looked at Cable yesterday morning for the retrace, but actually took the trade using GBP.JPY - exit at 60 pips
nice overnight take from Arco's blog
default setting of 150 pips taken with a couple of cable trades
Im hopefull on this one Peat heading still lower and risked a weekend hold of three postions to hang on for sub 161 even to target of 160.
great to see the in workings of arcos trading truly a fascinating study .
http://iforce.co.nz/i/qt0ujk3z.jpg
Big move in GBPUSD. Looks like some comments fom Holland pushed it through 1.26, then the algos got hold of it and liquidity dried up. Reports from dealers saying the lowest traded was 1.1378. Big move for a matter of seconds.
That was bigger than the initial move for BREXIT when the Sunderland vote came in.
Attachment 8345
http://www.telegraph.co.uk/business/...uro-investors/
Pound surges to eight-week high against dollar after Brexit minister hints at EU market access