Harmonic shapes in various instruments - futures io
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Harmonic shapes in various instruments


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Harmonic shapes in various instruments

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  #1 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

Just a thread to share any charts i draw. Any feedback to improve what i do would be appreciated

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  #3 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received


prz entered

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  #4 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

second target hit

now evaluation to see if 1.618 possible

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  #5 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

I wanted to start a thread to share any charts i spend time on.
I am learning to put my primary focus on price action, as defined by harmonic swings to different fib points
Any input on how anything i show can be improved or augmented would be greatly appreciated!
Im sure i will post charts with some indicators attached, as i would like to keep an eye on what many people do.
i.e an macd, a stochastic or rsi measurement, an eliiot wave oscillator etc.
I am far away from the goals i have set myself, and this thread is for me work in progress.By always publishing my chart/reasons for a position, i will keep myself focussed.
Please dont laugh too much as my trades develop badly!
Good Trading

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  #6 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

I think this is how Scott Carney manages his trades.

any opinions welcome

The price has turned rounD at 100 AB=CD
Now retesting prz of shape shown in earlier post
0.382 of upswing a to d has been hit

For my money, the getout point is a break of the plum line
In ELLIOT terms, this seem like we have had an abc correction and now may proceed towards the 1.618 expansion on daily. Crossing back above the cyan line would invalidate this , also volating the terminal price bar which pins at 2673 would be against this idea.
i think it unlikely this is a cardinal wave 4,as we closed inside what would be wave one. also, the overlapping waves suggest a correction is underway

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  #7 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

this reversal has hit its first target
It shows a retest of a low which failed to make a lower low
I have added bollinger bands to show that the seconf low also closed outside.
the bounce failed to hit the middle BB
I think this means close longs and look for shorts

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  #8 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

I have added Bill Williams Volume indicator here

I wanted to show why i would rather trade instruments that offer more than tick volume
The bars circled orange may show stopping volume. Any thoughts out there on this?

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  #9 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
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Can anyone help me put a story to these bars and thier tick volume?

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  #10 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
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The trendline has been broken with an engulfing bearish candlestick, on rising tick volume

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  #11 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
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If it breaks back above the line on the m15 chart
i am long to the cyan circle

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  #12 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
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How about this interpretation of this volume indicator?

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  #13 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
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a POSSIBLE PULL BACK TARGET

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  #14 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

this all looks bearish, but i have to stick with my preset stop loss, at 1.2855

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  #15 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

Glad i left it.

profit taken

now to see how the PRZ plays out

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  #16 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

OK ,
this is what i see on the euro/usd
a big bearish W points in cyan
within that, a smaller bullish continuation pattern, points marked in olive
The second shape would take us to a big confluence @ AROUND 1.3008
This is also an elliot wave target for wave 5 (using elliot rules found in tom joseph book)
the leg marked with brown numbers is (possibly) a five wave impulse of an abc correction
so much confluence

My aim here is to see how impossible or not it is to project harmonic shpaesd within others to confirm a possible d point of a larger context harmonic shape.

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  #17 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

I have added the 50% retracement of the swing up, which also falls in the PRZ

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  #18 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

turned round ten pips short of prz.

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  #19 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

at the prz now

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  #20 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

POSSIBLE TO GO BACK TO 1.2935 STILL. BEYOND 1.3030 AND WE COULD GO MUCH FURTHER I BELIEVE

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  #21 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

AS yet, i cant see a price bar that has tested all levels in prz

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  #22 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

got short at 1.30087

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  #23 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

20 pips taken from that bounce down. long now, as the move down was weaker than i expected

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  #24 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

now flat

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  #25 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

NAS100 c point broken so this shape is invalid for a projection target

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  #26 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

Here is what jumped out today as i took a look at longer term context.
Please let me know if anyone wants me to explain what I THINK i am doing here!

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  #27 (permalink)
MajorMagnuM
south west UK
 
 
Posts: 122 since Dec 2011
Thanks: 74 given, 15 received

heres my target level

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