My GU trade lost. Now I’m watching EUR CAD.
Well that concludes this month.
My EUR CAD trade lost but I’m up 9.43% for Jan. and I’m ok with that.
I’m ready to see what Feb. holds in store.
The first one I’m watching for Feb. is this AUDCAD on the 1hr. Confluence is at the .886 XA retracement and the 1.618 ABC expansion
I’m keeping an eye on EJ too. If it drops back down I’ll be looking for a long trade at the .786 XA and 1.618 ABC
My Audcad got stopped out but I’m still watching Eurjpy. There is a potential setup in both directions. The closest is this short setup.
That trade got wiped out pretty fast and it invalidated the original setup.
Several Yen pairs are setting up. I got triggered on cadjpy right after detting it up and I’m keeping an eye on eurjpy.
eurjpy already triggered. Not sure I like being too exposed to the Yen but so far I have no rules that prevent it.
EJ target hit. Aud Jpy entry would have triggered but I’m sitting out for news. Im still in the Cad Jpy trade.
Took a trade on EURAUD. I didn’t have time this morning to post the setup but it just hit the target.
Here’s a couple trades I’m in. The EURCAD setup a smaller gartley and I’m still watching the bigger one.
AUDJPY setup also.
Nice thread.Can you explain more about the fibs you are using for a valid setup so i can understand better. Ive tried reading more about these but I’m still having problems understanding the setup of these patterns.
So for the AB leg to be valid you are looking for it to retrace between .382 and .781 of the XA leg? In the book i read it was defined as being in between .618 and .781 but i see lots of your setups with a retrace between 0.381 and 0.5. Am i just not understanding this properly? Is it the size of the AB leg retracement that creates the different animal pattern?
For the BC leg to be valid it needs to retrace from the AB leg between 0.5 and 1.00?
To find where the CD leg ends, in the 30 pips a day thread he says the he uses confluence from .5 of the XA leg retrace and the equivalent size of the AB leg. Is my understanding correct? Is this how you do it or just using the fib extensions easier instead of just moving the Fib indicatior and overlaying onto the BC leg?
