nelsyboy

nelsyboy Updated 

A pattern that was not overly clear to begin with may now show possibilities. Already momentum is above the 14MA. I will not trade the B wave down but will wait to see if the possible path plays out in the hope that I can enter at a good BUY price in or around the supply zone low.

nelsyboy Updated 

Just updating my previous idea with a new chart image. Momentum still not positive so not willing to go long yet despite crossing of 5EMA and 11MA lines. Price also struggling to break through recent sticky level so happy to wait a bit longer. I feel confident regarding the mini elliott wave 5 down and just hoping the correction phase plays out. The recent candles...

nelsyboy Updated 

I thought I would publish a new chart with some extra lines. I am still hopeful that the path is in play. Momentum is still quite positive despite being below the 14MA. Volatility today was twice that of yesterday but the days movement in price was fairly equal. Therefore a conundrum. The temptation is to short but if in doubt, stay out. There will be other more...

nelsyboy Updated 

Momentum still Positive and above average despite large movement down today. Price stopped at previous start of large selling move and most recent DOJI price. Volatility indicator shows reduced move down despite large price move down. Therefore, I feel price is likely to move back up from here.

nelsyboy Updated 

I'm not going to trade this idea as it doesn't quite fit into my strategy. However, with less and less volatility to the downside and momentum moving up today, despite price coming down. All the signs favour the next move to be higher rather than lower.

nelsyboy Updated 

Despite todays action, price has finished fairly static but Momentum has moved up and is positive and above average. Volatility is less to the downside and the MA's are in correct alignment. I therefore think there is a fair chance that price will go up from here.

nelsyboy Updated 

Today, price came down but Momentum (14) increased. Volatility has slowed considerably. MA's in correct alignment and Momentum is still positive. There is also a channel which todays price has stopped right on the cusp. It does look likely that the next move is up.

nelsyboy Updated 

Keeping a close eye on possible road map for USD/CAD. I will be looking for divergence on the momentum indicator as well as a higher price to complete the mini wave B of the Elliott Wave correction. Then, with the moving averages close to crossing and hopefully an easy to read candle stick at the top, the SELL will be on.

nelsyboy Updated 

Have watched price fall through each channel. Only now is there a slowing of Momentum. The average Momentum has been broken and I am hoping to see a divergence where price drops below the most recent low and sits on the last channel line but the momentum indicator moves back into positive territory. Only then will I go LONG.

nelsyboy

I use a momentum indicator set at 14 day period with a 14 day MA and have been watching this slowly build. I also use a 11SMA and 5EMA and these are now closer but yet to cross. Momentum is now close to positive territory and price is sitting on weekly support. So perhaps a low risk LONG trade is on the cards. What do you think?

nelsyboy

Another idea based on new strategy. Lines crossed and price in good position for a BUY to TARGET.

nelsyboy

A new trading idea using the close on the daily chart. Recent close on Friday brings "Short Cross" into play. As it is a new idea, it will be interesting to see how it pans out, particularly after such a large move up.

nelsyboy

Divergence on the fast and slow stochastic. The previous monthly Pivot Points continue to offer resistance. This looks like an opportunity to SELL from around the two most recent daily high prices or maybe even from the R1 price depending on tomorrows movement. Todays candle looks like a continuation of the up trend for one more day.

nelsyboy Updated 

I have a Donchian Channel set at period 71 on daily chart. I have already set my weekly FIB lines and have been following the retrace from March 2020. As per my previous ideas using Heikin-Ashi candles on the daily time frame only, I buy once the green candles close above the Donchian mid-point line. I stay in the trade until there is a red candle close. I will...

nelsyboy Updated 

Based on price closing back above the Donchian Mid-Point (27) and the weekly FIB points drawn from the highest point back in Feb 2018. First target 12800 approx which is the 76% Fib point on the weekly retrace. There may be some selling at this point but I do think it will reach 13200. My idea is to BUY whilst the candles are blue and they remain above the...

nelsyboy Updated 

Based on break of Donchian Mid-point (20) and using Heikin-Ashi candles, the idea is to stay in the trade whilst the candles stay blue at the end of each day. If they turn red then close the trade. If they turn blue again and they stay above the Donchian mid-point then enter a BUY again.

nelsyboy Updated 

I have set the FIB levels based on the high of April 2019 down to the recent low of 0.875. I believe that is the low and a re-trace is on the cards. Therefore, I will only be looking to BUY from now on and any trades will be as follows. A blue Heikin-Ashi daily candle close above the Donchian mid-point line will be a continuation of the BUY. A candle that closes...

nelsyboy Updated 

The chart shows we are re-tracing back to the low of Feb 20. Whether we get there or not is another thing. My idea is that it will get to about 8280. Therefore, drill down to the DAILY and only SELL providing the red candles stay below the Donchian (20) mid-point.