[thalestrader]

Originally Posted by thalestrader »

She wishes she hadn't asked me.

Suddenly she is very happy she had asked my opinion.

We'll see if she's so happy when the day comes to pick out her first car.

Best Wishes,

Thales

[forrestang]

Originally Posted by patrader »

I sometimes find looking at candlestick body only bars helpful for clarification of current direction and S/R.

Does it matter to you that your tcls be exactly parallel to the originating tl?

Are all of your trades initiated at either a TCL violation of some wort for reversals?

[Marko23]

Next attempt to turn up



Count to five at the end of a larger movement

[Marko23]

EUR/USD really soon now


Long one degree smaller


3rd wave larger than 1st wave, there may be a 5th wave!

[patrader]

Originally Posted by forrestang »

Does it matter to you that your tcls be exactly parallel to the originating tl?

Are all of your trades initiated at either a TCL violation of some wort for reversals?

I prefer that the tcl not be parallel and instead converge with the tl.These wedges are also called rising and falling wedges.Trend channels with parallel tcl's tend to continue trending until a large tcl overshoot forms a wedge.The wedge is usually a sign of weakening momentum and possible reversal of trend.It's important that a major S/R level be at or near the completion of the wedge in order to increase confirmation of trend reversal.Basically its a dueling lines concept where the third push of price,tcl and horizontal S/R meet.If price reverses off the tcl and S/R level then a 123 will possibly form and it's success will confirm the trend reversal.Many of my trades are initiated at tcl's but since they are "early" its very important to have a major S/R level included in the setup.What price does at the dueling lines point is also very important.Price should reverse and show ct strength.Until signs of ct strength than no trade.Sometimes a slight overshoot will occur before ct strength which i like because it traps late trend traders who add fuel to the ct when their stops are hit.The best reversals are strong with little sideways price action allowing me to scale out of contracts,go to b/e and hold the rest for larger targets after completion of the 123.Reversals that go sideways usually mean that the current trend is not done and the wedge will fail so i scalp out and wait for another wedge to form.HTH

[patrader]

15m 6E chart

[Marko23]

Long ended as break even.

This was the better trade, but started to early for me.

[patrader]

6E Daily chart