WAITING FOR LONG SIGNAL ON EUR/USD 4H. PART 13
Chart: Manual System based on Elliott Waves and Fibonacci. System did match double moves on different timeframes and on different speeds of the market.
Aqua line is Main Pivot. Green and Red background colors show Trend Orientation. These are just basics here for now.
Timeframe for the actual analysis is now 375 Minutes, not 240 Minuntes = 4H. This is done by a speed multiplier in the study (1.562), so the SMA´s and
the EMA´s are calculated for that timeframe and showed.
Expectation: For now we have a trend extreme at the red NSL( New Structure Low) from the Daily Chart and the price will go next day´s till the red fat SMA.
This is called sufficient pullback depth and is required along with a fully validated trait set to give the basis for continuing to the next step.
If price goes more down, then we have a new trend extreme and the validating process start from the beginning.
Status: Wait for price to cross through the red fat SMA countertrend to traitset trend.
Comment: Normally i trade on Metatrader 4, i am trying to convert to TradingView so Signals are only illustrative till i have convertet the templates from Metatrader to TradingView.
Aqua line is Main Pivot. Green and Red background colors show Trend Orientation. These are just basics here for now.
Timeframe for the actual analysis is now 375 Minutes, not 240 Minuntes = 4H. This is done by a speed multiplier in the study (1.562), so the SMA´s and
the EMA´s are calculated for that timeframe and showed.
Expectation: For now we have a trend extreme at the red NSL( New Structure Low) from the Daily Chart and the price will go next day´s till the red fat SMA.
This is called sufficient pullback depth and is required along with a fully validated trait set to give the basis for continuing to the next step.
If price goes more down, then we have a new trend extreme and the validating process start from the beginning.
Status: Wait for price to cross through the red fat SMA countertrend to traitset trend.
Comment: Normally i trade on Metatrader 4, i am trying to convert to TradingView so Signals are only illustrative till i have convertet the templates from Metatrader to TradingView.
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Penafian
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