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also the 8.17 area is both the 78% retracement of the Mid March correction (pink), and the 261% extension of the original wave 1 (yellow)
For clarity, nothing I say is advice....
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Junior Member
Hi Arco, Guys,
Hmm, my first post under trading here.
Something has been bothering me for awhile now. Hence my questions. Start from the beginning...
You seem to use trend reversal methods (harmonics, Gann, Elliot) but also trend-following methods (Ichi). I still cannot decide for myself which one should I stick with, since reversals often extend (butterflies can go into quite some extensions, crabs, etc), waves can prove to be misleading, divergence means noithing at times.
Question1: Seeing some harmonic pattren at the top would you prefer to short at candles' formation, bar (ie: pin bar) or something else, ie: trendline break, moving average break, or wait for Kijun-tenkan cross, etc?
Question2: Based on your experience in Forex (which is much longer than mine) would agree that in Forex it's wise to go with the clouds (ichi=trend following) as well as try to catch these butterflies above the clouds?
I mean from yor perspective (trading for quite some time now) are both methods worthy, or one has proven to give better results?
Question3: besides Ichi, Harmonics, Gann, do you have any other system/strategy that you would suggest? I don't mean reveal (unless you want to), but any clues as to what's worth what's not (ie: Pitchfork-ok, M.A.'s- not ok, this kind of stuff).
Thanks again for inviting me here. I still read, observe and learn.
In my case I must admit, I found trading psychologically hard to overcome.
Many Thanks!
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Action gave a nice down move from the (ii) zone
as indicated in post #10 (also refer post #8)
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Updating the ZAR trade....
.............moving nicely south in an orderly fashion.
GeorgeW. Re questions. I think I may have answered some/all
of them in a PM. Anyway if not please ask again.
regards - arco
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For clarity, nothing I say is advice....
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Hi Peat
Low was circa 7.7186.......dropped nicely into the confluence/overlap of my 2 blue boxes....
rgds - arco
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I was just commenting on the volatility over the recent few days
look at that ATR go.
For clarity, nothing I say is advice....
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Ah sorry Peat.....my telepathy switch was off
Promise to 'listen' harder next time........
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