Pattern trading - Is the best way to catch Bottorms and Tops!

[shivashimoga]

That is exactly I come to... were to start first wave? how to identify the first wave? What I started doing is identify the 4th wave because in 4th wave it create 4th wave msk-abc channel. if it reached 4th wave abc channel then the direction is identified! once you identify then just take position in that direction. for example in DOW it created reducing triangle. once you identified the reducing triangle and direction in this case it is bearish. you need to take position wait till it turn and take as per your standard trading method. what I do is. once I identify the trend then I will take position once 34 day exponential moving average cross and close the price.

 

[mp6140]

ok,just to get me kicked off on this brain test which ways clockwise again ?

Until someone get's a bra on this girl I'm struggling to focus on direction !

Attention to detail, how many spotted she is 5' 5 1/2'' , 117lbs ,takes a small brief with a 34B cup up top ,is a natural brunette and non coffee drinker with a penchant for lilac nail polish .Born in Wagga Wagga of course ,but you all knew that didn't you.

==============================================================

Nice observations -- you must have met Sophia at some time. Note she only wears Thongs and a Demi underwire, sunbaths au natural, drinks green tea both warm and chilled and is HIGHLY regarded in the "psychological testing" ranks. A starched nurses uniform appears to produce extreme aggitation in the male population of that group, often resulting in complete disaray to ongoing experiments !

mp

 

[jonj]

Let me explain... the chart you posted I found you have identified the pattern but to enter you have to keep waiting for the pattern to complete and broke the triangle and then take position. that is the chart you posted it created reducing triangle and broken around 15800 levels and you have to enter @ 15800 levels. if so then your stop-loss is were 16000 levels?. it is not particle to keep stop-loss @ such a long distance, ofcouse you get big move in this chart but it is very risky. Lets assume that, if you get a tool which gives you the direction @ very initial stages then? it is great isn't? So my system allow you to analysis in better way. lets analysis the chart you posted. in my system I will short not @ 15800 levels because this beautifully created 4th wave a-b-c pattern. this I call "MSK a-b-c channel". I modify the chart and attached the same pl.. go through. Here your advantage is you know that once it created "4th wave msk-abc channel" then simply look for short in the chart you posted it gives short @ 15950 levels as it broken 1-2-3 formation and it is sure that because it created double top @ 4th wave it is going to fall and go ahead to take position in the direction which is short

similarly DOW also crated and I am expecting DOW also going to fall like EUROUSD, if you are shorting DOW then it is clear short bellow 12900 bellow. you need not to wait DOW to cut 12600 levels! which means you are entering 300 points early!

hi mr shiva,thanks for clarifying things for me.i have a couple more q.s if you dont mind.iv managed to find some material on wave theory and an going to read it asp.my 1st is why is 4b not 5? or 4c not 6?im sure its a daft q. but seems odd you must admit!
the second is what time frames are you thinkin off ?have you found the same double tops on the shorter tfs,e.g hourlys?
as i understand it you saying that its the double top thats significant and the signal to enter before the break?
thanx for your time.

 

[rathcoole_exile]

Shiva, with all due respect, this magic stuff about Waves is just out-n-out ****e.
and I still can't see your link between waves and pattern trading, nor between pattern trading and "catching tops & bottoms" since most of your examples show trading within a range or breakouts thereof. which isn't the same thing at all as catching tops & bottoms of trends.
I really fail to see where this thread is leading.
Can you succinctly, in 3 sentences, summarise you approach and objectives please ?

 

[black bear]

Wave Goodbye

good post Rath, no rep pt left for you

Agree................. its complete and utter BS

Say Hello .............Wave Goodbye

5. Every moment in [a game] is unique.

It is and that goes for Life and any GAME

YouTube - Soft Cell - Say Hello, Wave Goodbye ( Newer Version )

 

[rathcoole_exile]

marc almond....now there's a nutter,

 

[black bear]

seemed appropriate

 

[shivashimoga]

This tread is only for serious trader and value added comments and knowledge sharing. if you have any suggestion then pl. share and most welcome nothing other then trading knowledge. Avoid non-trading comments.

 

[rathcoole_exile]

This tread is only for serious trader and value added comments and knowledge sharing. .

so when do you intend to start ?

 

[black bear]

Seems like a fair and serious question and very appropriate

seemed appropriate

so when do you intend to start ?

Seems like a fair and serious question and very appropriate

Space them out a bit Rath you rep pts are suffering man, which seems unfair due to the quality of your recent posts, pehaps you should see Sharky and see if you can get a new cluster post award scheme up and running


Latter

 

[rathcoole_exile]

at the risk of repeating myself:

I really fail to see where this thread is leading.
Can you succinctly, in 3 sentences, summarise you approach and objectives please ?


(actually it's blatantly obvious that I'm repeating myself. I'm just hoping for a legitimate response this time)

 

[shivashimoga]

Let me explain to you. trading in market is an art and finding tops and bottoms is skill... but finding and trading on extreme tops and bottoms is suicidal. Again I am repeating trading extreme tops and bottoms... is SUICIDAL

To identify the logical tops and bottoms are what we are interested and this is fairly possible with pattern trading. identify pattern is a task and those who identify these pattern early are the one who makes good trade and make exponential profits. That's how I have given the thread name is "Pattern trading - the best way to catches bottoms and tops" Pl. note I didn't say catching peaks!

When you are in forex trading even catches 600+ pips is extremely profitable, this can be easily met with patten trading provided you enter @ early stages. To enter early, you need to understand and identify the pattern its formation very early otherwise it is suicidal. it is clear suicidal. How to identify the patten? were will we enter? How to enter? these are the questions to be answer. What I am explains in this tread is in any pattern normally it takes 5 swings to complete, the typical pattern I have attached. the pattern could be in hourly or daily or even it can be 5,15,30 min. but will complete 5 swings I call these swing with wave name. 5 waves!

Next session I will explain were to enter and how to enter.

 

[rathcoole_exile]

What I am explains in this tread is any pattern you take, it takes 5 swings to complete the patten. it could be in hourly or daily.

Next session I will explain were to enter and how to enter.

Cable -
Today's first trade was following consolidation as price meandered along S1.
I set Stop Buy (3 Lots) and a Stop Sell (12 Lots) orders, not knowing whether price would revert to Pivot or continue the trend south.
The Sell order was triggered, target hit for clean profit.
Nowhere in my calculations did I consider wave this, wave that, swing this, swing that. Price action alone determined my trades based on expectation of a minor breakout following minor consolidation.

I'm now Long (only 3 Lots as it's against the trend) for a reversion from S3 to Pivot.
again, no magic numbers, no guessing where wave 4 is so I can work my way back to find wave 1 (if it were that easy, surely you could find wave 1 easier than that complicated routine?)

Here you can see that I have posted an actual live trade that I'm currently in, complete with TPs and Stops. Looking forward to seeing same from you.........

 

[rathcoole_exile]

That is exactly I come to... were to start first wave? how to identify the first wave? What I started doing is identify the 4th wave because in 4th wave it create 4th wave msk-abc channel. .

you start at number 4 ?
seems like an odd contradiction to me !
If this wave game were so simple, surely you'd have to start at number 1 ?

seems to me that you're grasping at straws, trying to force patterns to fit, rather than just going with the flow.
Not a personal attack on you Shiva, i just think wave counting is complete nonsense - show a set of charts to 100 people and I bet that not 2 people will come up with the identical pattern, which fact surely acts as the Anti-Wave ?

 

[rathcoole_exile]

Next session I will explain were to enter and how to enter.

the late Guru Shastri.
A chaste man, he later died of a disease that had all the hallmarks of syphilis ....


(might be a bit oblique for some )

 

[shivashimoga]

You are very right! I am happy that you are very close to my exceptions. you told me that why I didn't start with number 1, I can't and I will not also, because it is still immature I don't know wether it create which patten but... But! @ 4th count I am fairly point that yes! it is the patter which is creating and I can not trade in this pattern because I identified the trading opportunity in that pattern.

when I have gone through you attachment I trade the way you trade exactly but I am trading in line with the market swing and in GBPUSD it is bearish swing and I only trade with short I will not trade long in that. for trading is your call. you trade the way you use your price action trading mechanism I completely agree with you. let me tell you in bearish trend it is clear profitable trades I am sure that in long you may not get the same profits because you are taking position apposite direction of the trend and normally we loose money in apposite direction if you trade.

PLEASE NOTE! THIS WAVE THEORY IS NOT FOR INTRADAY ... IT IS ONLY FOR POSITION TRADE.

 

[rathcoole_exile]

You are very right! I am happy that you are very close to my exceptions. you told me that why I didn't start with number 1, I can't and I will not also, because it is still immature I don't know wether it create which patten but... But! @ 4th count I am fairly point that yes! it is the patter which is creating and I can not trade in this pattern because I identified the trading opportunity in that pattern.

when I have gone through you attachment I trade the way you trade exactly but I am trading in line with the market swing and in GBPUSD it is bearish swing and I only trade with short I will not trade long in that. for trading is your call. you trade the way you use your price action trading mechanism I completely agree with you. let me tell you in bearish trend it is clear profitable trades I am sure that in long you may not get the same profits because you are taking position apposite direction of the trend and normally we loose money in apposite direction if you trade.

PLEASE NOTE! THIS WAVE THEORY IS NOT FOR INTRADAY ... IT IS ONLY FOR POSITION TRADE.

which is why i'm trading 12 lots south and 3 lots north
the Shorts are for my equity growth,
the Longs are live forward testing the theory that price will revert to Mean (in this case Pivot)

 

[vicky.bhatnagar]

@ Shivashimoga

Why did you discontinue this thread ?
I just went through & found a slightly different aspect for trading Wedges & Triangles.
I would request you to shed some more on light your theory

 

[DionysusToast]

Vicky

One would presume that Shivas ran out of money trading these 'patterns'.

Hope this helps

DT

 

[vicky.bhatnagar]

Oh common Dionysus, thats a bit too harsh on the poor chap.
I'm sure he's doing good in trading & will continue to do so.

Still request him to resume the thread.