ER2 charts

[humble1]

getting closer, this may need time to setup again

[humble1]

[humble1]

that formed just above the 50% retracement fib...target is 819.50

[humble1]

now moving towardsa price support again. this may setup into a larger pattern soon. we will know more once reversal #4 reveals itself.

[humble1]

after making minor pattern targets. this rally should be shortable...the closer to 818 the better the risk/reward

[bh_trade]

Really appreciate you sharing these with us. The Cycle Identifier plots in the same manner as Roy Kelly's. I used Roy's stuff years ago but had to quit due to the hindsight built into the plots. If you put that one on a chart it generates a "signal" every few bars. Then they disappear . . .

[bh_trade]

Sorry, ignore last post, wrong topic

[jeffx]

I use Kelly's cycle ID, along with other indicators. You have to use it properly - ie you DON'T take a trade based soley on a major cycle high or low plot.
There's nothing on the planet that can predict a cycle high or low 100%, and never will be.
Use the Kelly major plot with subsequent confirming cycle plots, and/or momentum indicators like CCI, or MAs, and it is effective.

Don't mean to go off topic on this thread. I'm a forex trader who's looking to expand into other instruments - ie ER2, ES, etc., as I only have a few hrs to trade ~ early NY session time, and want alternatives to trade when forex is flat.

Thanks for posting your ER charts humble1

jeffx

[bh_trade]

Very orderly short cover today maintaining a well-defined parallel up channel since the morning lows. Clearly 81 strike plays a part in this.

[humble1]

low volume rally on Friday still looks shortable on a breakdown play from this level or even slightly higher.