Re: News Ahead
81I don't know.
- These users thanked the author Banzai for the post (total 2):
- Chickenspicy, Jimmy
yes the wave theory represents a trend of supply and demand at a standard number of 5 the number can vary so it confuzes alot of people
furthermore liquidity is the most important fundamental and banks
look again at this chart/labeling, I think it is wrong, why? the impulses (1-3) are not convincing, and the retrace ABC is huge compared to the Impulse up. ABC has to be modest. Wave 3 has to be solid, it does not look like on this chart. also it seems wave 1 is bigger as wave 3...nogochickensword wrote: Sat Jul 23, 2022 3:39 am yes the wave theory represents a trend of supply and demand at a standard number of 5 the number can vary so it confuzes alot of people
there might only be one wave but typically in a market of currency that is controlled by banks when they push the market it usually lasts 100-500 days this can be represented by waves but usually looks like a descending or ascending trend from one particular point that is why i use PHL peak hi and lows to find the latest and previous push off points, because that is where an elliot wave would start,
waves usually only look like waves in stocks futures indices options, crypto , because they move very quickly according to company success and are directly impacted by the economy
currency is heavy manipulated and stops usually have to be bigger / needs to know the patterns of price action // patterns are the key because they consistently repeat themselves
heads and shoulders necklines, swings/waves break of strucutre/ choch change of character
triangles channels / inside or connected to eachother
really create one big maze but you can figure it out
yep i find elliot wave theory to be like fibonnaci , a made up set of numbers , hardly ever works ,,, but it represents the idea behind how price moves not the structureMeyney wrote: Sat Jul 23, 2022 5:08 am look again at this chart/labeling, I think it is wrong, why? the impulses (1-3) are not convincing, and the retrace ABC is huge compared to the Impulse up. ABC has to be modest. Wave 3 has to be solid, it does not look like on this chart. also it seems wave 1 is bigger as wave 3...nogo
Banzai wrote: Fri Jul 22, 2022 12:11 pm
This is for news on July 22nd, 2022
EURUSD, H1 charts
Past news were on:
Feb 22, 2022
Mar. 24, 2022
Apr. 22, 2022
May 24, 2022
Jun. 23, 2022
The big olive lines are EMA (200).
In conclusion, if the prices touch Support 1 (S1), go LONG/BUY.
if the prices touch Resistance 1 (R1), go SHORT/SELL.
The indicator is over here:wilderinside wrote: Sat Jul 23, 2022 4:18 pm hi banzai, I'm new here. I'm very intrigued by the indicators u have here. Tried finding them on the forum everywhere, but I have only found Waynes Pivots.
Is it possible to share them here? or just the name, I can do more searching with the names of the indicators.
thank you so much!
34 and 55 are Fibonacci numbers so I chose them.The First 20 Fibonacci numbers are: 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584, 4181.
Banzai wrote: Sun Jul 24, 2022 2:13 am The indicator is over here:
viewtopic.php?p=1295482464#p1295482464
It's called "TMA - Triangular Moving Average"
and the template is "TMA 34 to 55 style D.tpl"
34 and 55 are Fibonacci numbers so I chose them.
This indicator gives us an advantage.
We can tell in advance if the prices will go uphill or downhill.
If you see a whole bunch of thin blue bands, get ready to go LONG.
But they can last for 3 days (about 72 hours).
Those blue thin bands are just Standard Deviation bands of 2.0.
The outer bands that are so far away are Standard Deviation bands of 3.0.
In conclusion, math is awesome and fun.
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