[MidKnight]

Originally Posted by thalestrader »

Did it take any special talent or any mystical and magical powers to see that the EURUSD had settled into a tight range of overlapping price movement?

It would have taken me considerably longer to see it as a range than you have marked above - probably not until 2 bars after the box low. I'm not suggesting that what you marked is when you noticed it, just commenting on when I may have started to consider it was in a tight range.

Originally Posted by thalestrader »

Does it take any occult powers or insightful interpretive powers to see the opportunity offered by setting stop entry orders on either side of that range with profit targets at the nest S/R levels?

Yes, I think so. I am interested in knowing why you did not see the same 'opportunity' on GU? It would have yielded a stop out to the upside and probably a small stop out from the downside. I only ask because I know GU is one of your pairs that you are watching and you no doubt have watched it form that pattern tonight except you don't seem interested in the same 'opportunity'.

With kind regards,
MK

[RichardTodd]

Originally Posted by thalestrader »

Does it take any occult powers or insightful interpretive powers to see the opportunity offered by setting stop entry orders on either side of that range with profit targets at the nest S/R levels?

... and when I opened my 5-minute chart, it had bounced off support so fast I actually jumped in long after what I considered to be a small-scale (pink) HL. I have found drawing in the large-scale (blue) and occasional small-scale (pink) swings a very useful exercise. I really can't thank you enough for inspiring such a simple practice.

[RichardTodd]

Originally Posted by Kiwi »

I ask because you seem to be talking about one style of teaching/learning and its not necessarily completely applicable to trading.

I was really just trying to point out that there is a huge chasm between concepts you grasp and skills that you master.

I thought most people would remember that driving was awkward and error-prone initially, but quickly mastered via guided practice. No one expects to read a forum thread and then know how to drive a car, but sometimes people expect to read a forum thread and know how to trade. So I thought the example would make it clear.

Originally Posted by Kiwi »

Over time, less intellectual and more effective techniques were developed and an important element was less talk and more modeling and shaping. Watch, do, "try pressing down a little with your big toe", wow. Very personal and very effective.

I guess I would say "less intellectual and more experience-oriented," if I understand you correctly. It sounds to me like we are in agreement. What in your opinion can be done in this forum to make the process here more effective?

[Gabe2004]

Potential EJ short but maybe too much resistance below

Gabe

[Gabe2004]

Originally Posted by Gabe2004 »

Potential EJ short but maybe too much resistance below

Gabe

Adjusted TP1 (made a mistake before) and set the BE point.

Gabe

[BlowFish]

Originally Posted by Cory2679 »

I'm still new at this...and I have to say I honestly don't see any particaular pattern, other than the H, L, LH pattern that everyone's always looking for...but for some reason I get the impression you might be alluding to something else...something I may not even be familiar with...

But if it isn't, and you're just talking about H, L, LH, then that is obviously there...but I feel like that's just too obvious...

I haven't taken any trades. I actually just got on here...overslept a bit... [

This might well have been answered (Im playing thread catch up) and I might be on the wrong track completely.....but with that caveat take a look at the posts Thales made after the elliot wave document. Many people have described this behaviour in a variety of ways..... whilst price was making hh's it was having a lot more difficulty doing so, the bulls are running out of puff (for the moment).

[Gabe2004]

Originally Posted by Gabe2004 »

Adjusted TP1 (made a mistake before) and set the BE point.

Gabe

Not comfortable with the short.
Moved the SL down.

Gabe

PS I am not in this trade.

[BlowFish]

Originally Posted by johnjohn1hew »

Here you go Cory...some patterns.

Im not a great one at drawing but here is an interesting variation where the LL occurs before the LH. This sort of pattern would probably have me looking at a faster chart for entry close to where the LH might be anticipated.