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Traderbeauty Method for the ES.


Traderbeauty

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http://screencast.com/t/VyTLDrYE6

 

expectations/targets are just that but ultimately must follow price action dependent on what our risk tolerance is with regards to the time frame in which we are looking to make a play...on the shorting level at the test of the highs the market offered something back down towards the M middle leg which was key to be taken out....instead price formed a small ab-c corrective bullish pattern with the divergence and getting back inside the trend line and also breaching a down trend line which voided any holding onto any more shorts and if anything was a setup "continuation" long.....I was too involved in managing currency positions so apologies for not showing that real time which I would've preferred....anyhow as a purely management and/or exit strategy in addition to one looking for a long continuation that was a high prob formation there..

 

cheers and good and safe trading.....

 

Guys you are in the best thread .....Jane sorry to hijack this and again thanking you and all for their contributions !!

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  • 2 weeks later...

I want you to pay attention to today's analysis- its very tricky and if you learn how to read the market you will always be a winner.

 

We have a perfect beautiful daily doji - but the important thing is that it was with a normal high volume - relative to the previous bars- and we do have it.

So that means we will have a reversal down from here.

But here is the kicker- and i dare to predict here- since this did not happen right at the fib level i believe that it will go down but not much to create a wave four and then it will come up- hit the 2157 fib level - will create a divergence and then will drop down.

So lets see if i am correct.

again you need to understand that this is what i do during day trading- i am just giving you a chance o see that in a slow motion.

enjoy

jane

 

http://i.imgur.com/MaFePpw.jpg

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Definitely an interesting area up here from where we are seeing the corrective move down Jane...I too would've preferred the 127% further up to be tested then down but nevertheless we do have a 127% hit of the prior leg up "motive or trend wave" and coupled with divergence there would like to see the trend line support breached "not saying that happen lol but intraday would at least have been a logistical target back down"...Also to note that often when a 127% is taken out, a pullback to the 127% breached often provides a good support area as a reference imho....From a potential target stand point, not that it matters intraday but we could potentially see a retracement back the 38.2% also prior high breached at that level if we can hold this current level and a breach below the trend line.....

 

http://screencast.com/t/m9O9I7qPHKQ

 

Good and safe trading to all and thanks again Jane for your invaluable input as always !

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