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Potential Holy Grail Long Trade on 5m 6A
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Potential Holy Grail Long Trade on 5m 6A

  #1 (permalink)
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Potential Holy Grail Long Trade on 5m 6A

Here is a potential "Holy Grail" Long trade in progress on the 5m 6A (Austrailian Dollar futures) that is in the process of unfolding now: A decline into higher timeframe decision point support, followed by an initial rally, with a correction that unfolded as a picture-perfect ABC pattern.

There's a number of DP resistance areas along the way that have formed during the earlier decline, so we'll see what happens with this trade. I have nailed some very big trades on the Australian Dolloar in the past, so it would surprise me if it does in fact rally sharply to reach the target.

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  #2 (permalink)
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The 6A came into DP resistance projected off of the swing into the prior low, which stopped the rally in it's tracks and reversed the market from there. Notice how price hit the typical Wave C WPT almost to the tick, where had I been awake to manage the trade more actively, still could have yielded a +9.4R profit, which is a great result. Either way, it was a risk free trade by that point, so nothing lost.

Again, I had an idea of what to expect in terms of support and resistance enetring the trade, and had all of the information and projected targets available to me in advance, so nothing came as a surprise.

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RE Holy Grail


Shawn,

Nice job with the analysis, and thanks for posting the trade

Razor

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I was actually a day early on that one- the very next day, there was a Holy Grail on the 3m 6A (and the 3m AUDUSD also) during the Austrailian session, so I missed it!

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A very unique situation

There are 26 MTP Predictor threads on futures.io (formerly BMT). Almost all of the postings are done by a handful of contributors.

Most of the posts are obviously promotional and are made by a very few people.

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Zondor View Post
There are 26 MTP Predictor threads on futures.io (formerly BMT). Almost all of the postings are done by a handful of contributors.

Most of the posts are obviously promotional and are made by a very few people.

Hi Zondor,

These are MTPredictor users and customers, and are just interested in sharing MTPredictor ideas and setups....... So may I suggest that as you are not a MTPredictor customers and have nothing useful to contribute that you let MTPredictor customers post in peace, this is not a section for you.

Steve Griffiths
MTPredictor developer.

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Griff1 View Post
Hi Zondor,

How little you know...............

Hi,

Please do not engage in this way, it causes the exact types of posts which are not allowed on futures.io (formerly BMT) (usually leads to rude mudslinging). Instead use the Report Post feature or find a more polite way to reply.

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