Hello fellow traders, today I would like to show you how to apply a Kennedy Channeling technique (by Jeffrey Kennedy) to identify and confirm Elliott waves with more confidence.
1. Base Channel:- Wave 3 identification
When wave 2 is complete, connect the origin of wave 1 and the end of wave 2. Draw a parallel line along the top of wave 1. As long as price...
Continuing from the previous article;
25. Observe the magnitude of market changes: When the market falls (rises) with the same small amount every day, it may be a signal of a rebound (fall).
26. The dense area is likely to form a support belt or pressure belt: The dense area can be regarded as an obstacle to slow down the market price fluctuations. Once the...
In the video I talk through the two trades namely trading continuation with Trend and then trading Countertrend Reversals. Both have their own price action points but are very different.
I review a continuation trade and the setups I look for when trading from level to level...but the main focus on the video is trading Reversals which can be very rewarding but...
Earlier last week we posted some basic MA5 setup action and how effective it is in gold setups. Today we show you how a simple trading setup that you can use to draw strong levels and how to trade with them.
Support and resistance can be drawn in many ways and often traders find what works for them and use that method. This is a method we use to create strong...
we are now explaining how do we take trade
so you don't have just an idea but actually the process behind the trade.
our entry trigger:
3 bullish confirmation on the macd
-macd with histogram forcast showing a bullish momentum
-macd4c showing a regression from the bearish momentum
-macd vxi showing that volatility is on our side
volume
-increase of volume...
How to trade the ABCD pattern
This is an example of a bullish ABCD pattern.
Ideally, Point C should be Fibonacci retracement between 61.8% to 78.6% of the A-B leg.
Point D should be a Fibonacci extension between 127% to 161.8% of the B-C leg.
Stop loss should be below D or previous low.
Take profit can be at the 38.2% and 61.8% Fibonacci retracement of the C-D leg.
