DislikedSunTrader, to avoid elliott counts with 2-3 alternative possibilities as you will find in the most counts of the elliott gurus, i additionally use the cycle considerations. Mostly, i can reduce the possible number of elliott counts to a main count. SixerIgnored
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- Jun 25, 2017 3:26pm Jun 25, 2017 3:26pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,329 Posts
- Post #42,142
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- Jun 25, 2017 3:45pm Jun 25, 2017 3:45pm
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- Post #42,143
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- Jun 25, 2017 4:28pm Jun 25, 2017 4:28pm
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All Things Are Possible
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- Jun 25, 2017 4:31pm Jun 25, 2017 4:31pm
- | Joined Sep 2015 | Status: Member | 73 Posts
All Things Are Possible
- Post #42,145
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- Edited Jun 26, 2017 6:21am Jun 25, 2017 4:38pm | Edited Jun 26, 2017 6:21am
- Joined Dec 2015 | Status: Member | 8,070 Posts
Are you tracking GOLD for trading opportunity this week? Here's a technical perspective to consider.
On the H4 time frame, price action moved upwards from a support trendline (magenta colour) to validate a resistance trendline from the high of June. The most recent price action saw a bulllsh move on Friday afternoon after a rejection of the resistance trendline by sellers earlier in the day. Should buyers push price action to break the resistance trendline, an initial target northward is likely to be the 1271 area, provided buyers can overcome the immediate minor resistance around the 1261 area. Failure of price action to take out the 1261 area is likely to lead to a southward turnaround to break the support trendline and target the 1240 area, the base of the support trendline. This is a more likely scenario given the weekly timeframe technical disposition.
I may be wrong. Trade safe and prosper.
KP
On the H4 time frame, price action moved upwards from a support trendline (magenta colour) to validate a resistance trendline from the high of June. The most recent price action saw a bulllsh move on Friday afternoon after a rejection of the resistance trendline by sellers earlier in the day. Should buyers push price action to break the resistance trendline, an initial target northward is likely to be the 1271 area, provided buyers can overcome the immediate minor resistance around the 1261 area. Failure of price action to take out the 1261 area is likely to lead to a southward turnaround to break the support trendline and target the 1240 area, the base of the support trendline. This is a more likely scenario given the weekly timeframe technical disposition.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- Post #42,147
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- Jun 26, 2017 12:12am Jun 26, 2017 12:12am
- | Membership Revoked | Joined Mar 2017 | 2,260 Posts
if you my trade,My-post analysis, subscribed to ME
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- Jun 26, 2017 1:47am Jun 26, 2017 1:47am
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- Post #42,149
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- Jun 26, 2017 2:28am Jun 26, 2017 2:28am
- | Membership Revoked | Joined Mar 2017 | 2,260 Posts
if you my trade,My-post analysis, subscribed to ME
- Post #42,150
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- Jun 26, 2017 4:08am Jun 26, 2017 4:08am
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- Post #42,154
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- Jun 26, 2017 4:18am Jun 26, 2017 4:18am
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- Post #42,156
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- Jun 26, 2017 4:35am Jun 26, 2017 4:35am
I will have to check this with market replay.
Yeah?! Well.. you know, that's just like.. your opinion man! - Big Lebowski
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- Jun 26, 2017 4:55am Jun 26, 2017 4:55am
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H4 1251.xx====>1248.xx===>1246.xx {image}
if you my trade,My-post analysis, subscribed to ME
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- Jun 26, 2017 5:00am Jun 26, 2017 5:00am
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