{quote} and if 1.352 doesnt hold... ?
it's TA, I don't have any other tool to analyze the market.
my last post is my daily end of bearish cycle base of Fibonacci extension and AB=CD on Fibonacci expansion
Cable Update (GBPUSD)
- #611,102
- Jul 21, 2021 2:56am Jul 21, 2021 2:56am
- Joined Dec 2017 | Status: Trader | 30,688 Posts
yes yes yes
- #611,103
- Jul 21, 2021 2:56am Jul 21, 2021 2:56am
- Joined Mar 2021 | Status: Crazy Frog | 3,775 Posts
{quote} idk about the "fly" but correction to 1.832 area before another big big down leg. this is what im looking for, i dont know from where the correction will start, now or 1.352 area. {image}
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
- #611,104
- Jul 21, 2021 3:00am Jul 21, 2021 3:00am
- Joined Mar 2021 | Status: Crazy Frog | 3,775 Posts
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
- #611,106
- Jul 21, 2021 3:14am Jul 21, 2021 3:14am
- Joined Dec 2017 | Status: Trader | 30,688 Posts
come on !!!!!!!!!!!
triple bottom
triple bottom
yes yes yes
- #611,107
- Jul 21, 2021 3:16am Jul 21, 2021 3:16am
- Joined Aug 2009 | Status: Trader | 12,448 Posts
If you are new to Forex? Say Goodbye to your account!!
- #611,110
- Jul 21, 2021 3:20am Jul 21, 2021 3:20am
- Joined Mar 2021 | Status: Crazy Frog | 3,775 Posts
come on !!!!!!!!!!! triple bottom
ive pull with the magnet from above ^_^
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
- #611,111
- Jul 21, 2021 3:25am Jul 21, 2021 3:25am
- Joined Dec 2017 | Status: Trader | 30,688 Posts
{quote} pls what do you think off Gold
yes yes yes
- #611,113
- Jul 21, 2021 3:30am Jul 21, 2021 3:30am
- Joined Dec 2017 | Status: Trader | 30,688 Posts
yes yes yes
- #611,116
- Jul 21, 2021 3:33am Jul 21, 2021 3:33am
come on !!!!!!!!!!! triple bottom
Triple or multiple bottoms are not necessarily bullish patterns. That is a fallacy found on most charting books not based on real analysis, but just by repetitive unverified contents copy.
See GU H1 and how the current momentum is negative.
However, on m15 you can see how the price is currently being held on a short-term support that is on the left and which structure has a certain heigth (size)
I would not buy a negative momentum, but if you do it, you should expect prices to reach the highs of the range being traded now and, hopefully moving not much beyond the current structure.
However, you could be lucky and since today is Wednesday and we have gone deep below prior days levels, it could imply that we may see a local intra-week minimum being formed today so that fund managers can hedge and rebalance their positions during tomorrow, to see how they will finally be able to hopefully release again the weekly negative pricing program on Friday.
I personally think that today's target should be at minimum the one marked within the red circle on the left below. Maybe beyond it and not really probable above it, since that area has already been traded twice and will present weakened bullish power, since it was alread used to collect long positions recently.
And for that reason, buying a subjective triple anything on m5 to fight against the major monthly, weekly and daily momentums is very risky.
To summarize, I think that these patterns mean nothing per se and that the lower timeframes require a lot more of structural verifications beyond a local support area.
Stay safe and good trading.
- #611,120
- Jul 21, 2021 3:44am Jul 21, 2021 3:44am
Sell limit @1.3630 SL @1.3680 TP @1.3570 Let's see whether it takes my trade or not... {image}
Trade taken few mins back @1.3621
