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HKDEUR descending triangleA nice descending triangle with 7 touch points. My backtesting has shown me that often the oscillations get closer as the triangle gets closer to its apex, and we see here that this behaviour is very strong. The key here will be the open of next weeks trading, where we will see whether it will break above the descending line and ruin the triangle or if the market will start in a downtrend and move towards the support line. If there is another move towards the support line I expect a break and will go short. (I am currently testing profit-taking at previous structural forms.)
Short
by olly_price
7
EURCAD SWA"Analysis, mid term reversal possibleTrading plan on a current mid term situation. Instructions on how to read labels on a graph: The purpose of the SWA approach is not to name the wave, but to make money out of the next swing of a tradable period. To get a deeper understanding of the approach, that can open a new doors for your trading, please contact. Impulse move (impulse wave), or the move towards the presumed main trend direction (of a period researched), is indicated with “i” followed by the wave number Each higher step/grade is marked “i” which stands for Impulse + apostrophe after the impulse wave number one for each step higher. e.g.: i1’ - 1st impulse wave 1 step higher, i1’' - 2 steps higher, i1’’’ - 3 steps higher i1’’ i2’’ i3’’ 2 steps higher i1’ i2’ i3’ 1 step higher i1 i2 i3 trading period ‘i1 ‘i2 ‘i3 1 step lower ‘’i1 ‘’i2 ‘’i3 2 steps lower Each lower step/grade is marked with apostrophe before the i - letter that stands for impulse wave. 'i - 1 step lower, ''i - 2 steps lower, '''i - 3 steps lower Corrective move is marked with letters, where: a - 1st corrective wave, b - 2nd, etc… Each higher step/grade is marked with a wave’s letter + apostrophe after the ; e.g.: ‘ - 1 step higher, ‘’- 2 steps, ‘’’ - 3 steps a’' b’' c’' - 2 steps higher a' b' c' - 1 step higher a b c - trading period ‘a ‘b ’c -1 step lower ‘’a ‘’b ‘’c - 2 steps lower Each lower step/grade marked with apostrophe before the lowercase letter; e.g.: ‘a - 1 step lower, ‘’a - 2 steps lower, ‘’’a - 3 steps lower This is an author's simplified wave trading approach. It has been created for trading, and if you're interested to "catch a Wave" please feel free to contact. All what you see at the charts, is a ready made SAW, so no explanations are added, so if you have any questions, just white a comment, and ask. The bits of wave theories known , Volume analysis and classical technic analysis is used in the system, to get a simple and professional approach. For traders Arturs Jermolickis
Short
by Marenno