High Quality FX
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Thread: High Quality FX

  1. #1
    Hi, I have been trading demonion for 4 months now, leaping out of brokers to brokers, platforms to platforms, platforms to feeling and methodologies impulsive to completely irrational. If you suspect that I am not making constant profit, you're right.
    Most of my trades are lost due to impatience and that I feel like I have what it takes to really be a profitable trader, I only want the holy grail... of patience and discipline.

    And that is why I started this diary. In here, I'll perform my analysis and plan my trades of this week. I'll be focused on high quality trades, and with the decision to follow my plan.

    I've only 2 trading rules now Only 5 Trades per week. Strictly adhere to this trading set up rules of this machine I am using right now.
    My analysis will be written of
    Elliott Wave Analysis Support Resistance Price Action

    So let the fun start!!!!!

  2. #2

    Based on my Elliott Wave count, a 5 wave impulse wave have ended, this usually means that the general tendency for this pair is up.

    I forecast that the pair will last lower next week, and a key area to watch for is 1.0435 - 1.0400. Not merely is that a 61.8% retracement of the impulse wave, it is also coincide as the possible service level.

    I will be watching this level and look for possible reversal price action for example classic candlestick patterns of pin par, engulfing patterns, etc..

    If price break under 1.0435 - 1.0400, I will look for future rebounds at 1.0200

    if price breaks above 1.0565 decisively, I will think about the possiblity that the correction is over, along with the CAd is on a different impulse wave up. In this instance, I will be on the lookout for long chances

  3. #3

    Based on my Elliott Wave count, You will find 9 waves upward, meaning an impulse wave to the upside have ended, the 9th wave can also be an end diagonal, which further reaffirms my view that dollar is entering a corrective downward phase, and the following drop maybe even deep and sharp.

    However, because I think in the long run the dollar is still in an upward phase, I shall also look for long chances on this pair, and change signs will be closely watched at 1.0625 degree, 1.0490 degree, 1.0375 degree.

    If the Pair breaks over 1.0850, My count is going to be invalidated, implying that there's no ending diagonal.

  4. #4

    the same as the Dollar index, and swiss francs, the Euro have 9 subwaves into the down site with an ending diagonal as the final wave. Along with divergence, I believe that in another week, euro will see a few fairly major retracement.

    I'll be watching the level 1.3830, level 1.4025, level 1.4200 for change price action, and shorting the euro.

    I believe price is unlikely to continue down without seen a few major retracement, If price breaks below 1.3500, My count isn't right and that I reassess and look for further shorting opportunities with this pair.

  5. #5
    Yes large quality analysis based on price action.

    But are you currently converting high quality FX analysis into a small bank?

  6. #6
    Quote Originally Posted by ;
    Yes high quality analysis based on price action.

    But are you currently converting high quality FX analysis to a little bank?
    come back in a week, as I paste my results, then make your decision

  7. #7
    The Dollar appears to get completed an large degree urge rally, and today, according to my count, I expect a little correction to the downside, this implies that dollar strength will deteriorate as correction wave sets in. During this time, to be on the safe side and being quality oriented, I will not be trading, instead, I will await the correction to finish so I could buy on the dips, and trade in the favor of dollar strength.

    On the Dollar Index, a level I will be watching carefully is the 79.5 level. This is a potential support level in my opinion and that I will watch for dollar strength to set in, if this level does not hold, I assume that dollar is in a bigger degree corrective decline that might direct the dollar to collapse across the board further south.

    If in the following week, dollar breaks above 80.5, I will search for long opportunities for in favor of the dollar

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