NZDUSD
Zaktualizowano
I used Wave Analysis, Trend Analysis, Indicators and some Support and Resistance to verfiy everything.
First on the left side we can see a pullback on a bearish impulse, measure impulse placing 0.236 right below pullback and sell limit at 0.5 or Sell Stop at 0.236, you can see there's a tiny wick, but price respected 0.5 retracement and went straight down to -0.27
After that there was a big consolidation that I traded on 1h and 15min Charts (Il'l update this idea publishing those trades)
So when I saw at the end of the consolidation that it made a retest on previous support I decided to trade up trend, you can see a perfect Elliott Impulse been completed by some confirmations:
-0-1 and 4-5 have the same distance
-1 and 4 don't overlap
-Perfect flags on each retracement, even at first TP -0.27
This bullish Elliott Impulse has a perfect flag demonstration between 1-2, where retracements 0.236 and 0.5 respected exactly as previous pullback, as always you can trade this with a buy limit at 0.5 or play it safe with a buy stop at 0.236, take profits are at -0.27 and -0.618 where impulse was completed. (How many Pips in chart)
Respecting Wave Analysis after an Elliott Impulse there's some type of consolidation. so we can expect some kind of ABCs happening or any different consolidation, also MACD confirms some future retracement, it has to break that trend.
Good Trading.
First on the left side we can see a pullback on a bearish impulse, measure impulse placing 0.236 right below pullback and sell limit at 0.5 or Sell Stop at 0.236, you can see there's a tiny wick, but price respected 0.5 retracement and went straight down to -0.27
After that there was a big consolidation that I traded on 1h and 15min Charts (Il'l update this idea publishing those trades)
So when I saw at the end of the consolidation that it made a retest on previous support I decided to trade up trend, you can see a perfect Elliott Impulse been completed by some confirmations:
-0-1 and 4-5 have the same distance
-1 and 4 don't overlap
-Perfect flags on each retracement, even at first TP -0.27
This bullish Elliott Impulse has a perfect flag demonstration between 1-2, where retracements 0.236 and 0.5 respected exactly as previous pullback, as always you can trade this with a buy limit at 0.5 or play it safe with a buy stop at 0.236, take profits are at -0.27 and -0.618 where impulse was completed. (How many Pips in chart)
Respecting Wave Analysis after an Elliott Impulse there's some type of consolidation. so we can expect some kind of ABCs happening or any different consolidation, also MACD confirms some future retracement, it has to break that trend.
Good Trading.
Uwaga
Education (1h and 15m Charts)Uwaga
Im going to show how I do scalping while in a consolidation.Uwaga
Right before consolidation started there was a perfect resistance forming a Running Flag (type of ABCs) or in this case a Bearish Flag. On this type of ABC 0.618 could be exceeded, in this cases retracements are 0.786, 0.618 or 0.5, so if your experienced you can plan future sell limits at higher retracements or stick with the plan, sell limit at 0.618 or sell stop at 0.236. As always take profits are at -0.27 and -0.618 (on chart shows how many pips).An entire impulse inside a consolidation thanks to Fibonacci and some technical analysis, look how it reached exactly -0.618, retested and turned.
Let's say I didn't saw any of this analysis when it happen, I could of just done some Support and Resistance and sell right on top where C is - 1h Chart
Uwaga
After Running Flag was completed I managed to find a 2618 trade, what are the steps to apply 2618 technique?-find a double floor or a double top (on this case double floor)
-follow impulse with Fibonacci until retracement
-place sell limit or buy limit at 0.618 retracement (on this case buy limit)
-first TP at 0 retracement
-second TP at -0.27 (on this case -0.27 wasn`t reached)
Double floor + 0.618 = 2618
Thanks to MACD I saw divergence on charts and thats how I knew a bearish impulse was about to happen. 1h CHart
Uwaga
Another way I confirmed my trading in this spot was with some technical analysis (Wave Analysis, Indicators, Support and Resistance). I thought it was an Ending Diagonal, but with some confirmations this became an Ending Channel. Of course and Ending Channel can be traded while its forming, but an Ending Channel always goes back to where it started, so when I saw 4 points been completed and resisting trendlines I knew I had to place a sell limit or sell by market at point 5 that's how I got that bearish impulse ending right on previous support where it all started, plus MACD showed divergence (Ending Channel take profits are between 0.786 and 0.886 retracements). - 1h Chart
Uwaga
Another Ending Channel was completed in 15min chart between points 0-2 of previous Ending Channel, we can see how it went down trend back to where it all started between 0.786 - 0.886 retracements and retraced. As always I used Support and Resistance on MACD and chart to confirm prices. - 15min ChartAmazingly there's another Ending Channel in 5 min chart been completed between points 3 and 4!
Uwaga
Back to bearish impulse from 1h Ending Channel, there was a Bearish Flag with 3 clear points (ABC) about to be completed, but missed take profit by 17 pips, of course there was some good trades inside the flag before it went bearish which reconciles those 17 pips. I'll post link at the bottom where you can see NZDUSD idea where I scalped this flag and entered earlier. - 1h ChartUwaga
Scalping inside Running Flag
Uwaga
We can clearly see there's another ABC between A to B on 15M Chart. This could be traded with a buy limit right where C was completed or play it safe with a buy stop at 0.236, TP at -0.27 and we know see first ABCs been completed. -15M Chart Uwaga
Measure bearish impulse, 0.236 right below flag and sell to -0.27. - 15M Chart Uwaga
Right at -0.27 - 15M ChartUwaga
If Plan A didn't work, I had Plan B with 2618 technique so I could tarde at 0.618 and bullish impulse. - 15M ChartUwaga
2618 was completed and became higher high where bearish impulse continued, but those 17 pips where reconciled by scalping. - 15m ChartUwaga
After Running Flag I managed to find a perfect Elliott Impulse with some confirmations:- 5 clear points
- 1 and 4 at same price
- 0 to 1 same distance as 4 to 5
- fibonacci
I measured first flag by placing 0.236 at top (point 1) and we can see point 2 is right at 0.618, this could of been traded with a buy limit at 0.618 or play it safe with a buy stop at 0.236 (how many pips on chart).
Also confirmed with some Support and Resistance, even on MACD. - 1h Chart
Uwaga
After Elliott Impulse I entered bearish at first pullback , mesaured pullback placing 0.236 right below and have areas of retracement been respected between 0.786 and 0.5. This could of been traded with a sell limit between those areas or just enter at 0.618 following up the plan, but it's always safer to trade with a sell stop at 0.236 and still get good pips (how many pips on chart).Used some Support and Resistance to confirm each area, even on MACD. - 1h Chart
Uwaga
After bearish Pullback been completed, I found a rare Ending Channel where 1,3 and 5 had same resistance, you can sell right at point 5 or wait for a retracement and entry.Well look at that a perfect flag between 0.236 and 0.5 retracements been completed, first resistance at -0.27 and impulse was completed at -0.618, where -0.618 made retest for major Elliott Impulse on 4h Chart. - 1h Chart
At this point consolidation has ended and I showed how I do scalping. Good Trading.
Uwaga
Back to actual priceWe can see it broke resistance and went bullish for a moment, but resisted between 1.272 - 1.414 measured by Trend-Based Fib Extension and went bearish, for now I expect price to go down trend reaching one of the retracements from fibonacci measurement.
Used some Support and Resistance to confirm prices and observe future points of interest, even on MACD. - 4h Chart
Good Trading.
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