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AbbasRizvi Jul 11, 2019 2:50pm | Post# 91301

{quote} Terminology can be confusing. There may actually be a difference between the traditional "support/resistance" and newer "supply/demand". Supply/Demand are usually associated with methodologies that use complex price action and order flow/volume imbalances algorithms, while support/resistance are associated with traditional methods.
Such confusing terminologies have made trading difficult otherwise trading is not so much difficult, we should revert to simple methods.

Ata-Turkoglu Jul 11, 2019 3:17pm | Post# 91302

{quote} Terminology can be confusing. There may actually be a difference between the traditional "support/resistance" and newer "supply/demand". Supply/Demand are usually associated with methodologies that use complex price action and order flow/volume imbalances algorithms, while support/resistance are associated with traditional methods.
An easy way to remember is to focus on the meaning of the word "DEMAND".. It is wanting something.. so if you want something you want to BUY it.. that way you are creating "SUPPORT" for that company who sells it. Once you connect the dots SUPPLY is what the company does.. They supply you with the product.. they SELL you something.. But you as the customer don't want to buy easily.. You have that natural RESISTANCE to buy and therefore you need to be convinced by the sales person! In other words the SELLER is causing RESISTANCE..

Anyways.. back to EURUSD..

Stay Green

JayBag Jul 11, 2019 3:37pm | Post# 91303

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Hello all,

Hope we all good, been a while sine I contributed here..
straight to it, here's my idea direction for a 100 pip move (if things go a bit smooth lol)

anyway, who else thinking same?
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Ata-Turkoglu Jul 11, 2019 4:20pm | Post# 91304

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H1 Status Update

Bulls should wait until we see some supportive priceaction. Nearest support zone is 1.1230/40 zone based on structure. GREEN line is getting flat based on low volatility and therefore I am not worried about bears. I simply let my long order run. We can re-analyse tomorrow after London opening. Trade safe!

Stay Green
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Ata-Turkoglu Jul 11, 2019 4:32pm | Post# 91305

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Daily S/R Levels for Friday

  1. Bears can try to retest previous resistance area: 1.1206/24
  2. Bulls will at least try to climb above my WMA-17 line but for a long-term trend they have to climb above WMA-205 line which is sitting right at 1.1288. While daily candles keep closing below this level intraday movements might be restricted with sideways and corrective priceaction.
  3. For this week, even a break above 1.1288 is still limited with next resistance level 1.1308 therefore I don't expect too much bull action. Next week can provide a larger range..
  4. Overall, Friday could become a flat and boring day.. (hopefully not)

Stay Green
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jedo Jul 11, 2019 7:00pm | Post# 91306

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Could be this.. hopefully
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ubtt Jul 11, 2019 9:30pm | Post# 91307

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Euro starts tricky on the levels between 1.12-1.13.
Bears thought would go below 1.118, burnt.
Bulls thought would breakout the trendline at 1.128, burnt.
now the big money made a shooting star here as well as massive options expires today at 1.12, 1.125, 1.127, 1.13. Which means today is a bloody ranging day.
But seems low risk to open long below 1.125 and I won’t continue buying dips until 1.128 is reclaimed.
Later will have US PPI, which might be a green one considering yesterday’s CPI. But Fed prefers PCE which is on 7/26 and looking at big picture.
As Long as these bottoms can be defended, we are looking at a gradual but painful bottom forming process.
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sqaguru Jul 11, 2019 10:53pm | Post# 91308

As long as we don't move above 1.1286, the Elliott count will be bearish (1h chart), and a new leg down could be a wave 3.

Oc6oph Jul 11, 2019 10:58pm | Post# 91309

I moved my take profit to 1.1450

ubtt Jul 11, 2019 11:02pm | Post# 91310

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I just detected a potential pattern for reference.
i call it the legendary “old duck head” or “dragon emerging from sea”
And be patient, we shall see.
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martin1977 Jul 11, 2019 11:03pm | Post# 91311

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On the candlestick, the bottom of the opening has not been achieved a specific PIPS (Based on studies on candlesticks), if you look at the morning movement, the opening is 1.12505 and it went up straight till now, the question is the movement to south hasn't been achieved. It will surely move downwards a little.

Daily Chart below ensue.
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Skultis Jul 11, 2019 11:57pm | Post# 91312

I moved my take profit to 1.1450
May I ask why and when do you expect this move?

Oc6oph Jul 12, 2019 12:37am | Post# 91313

{quote} May I ask why and when do you expect this move?
Yes I believe it’s going up there for liquidity but could be wrong. I’m going to close my trades if I see sell signals. Looks like we’re going up a good bit to me

Fxent Jul 12, 2019 12:58am | Post# 91314

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We slowly going up
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sqaguru Jul 12, 2019 2:06am | Post# 91315

This triggered a pullback: https://www.forexfactory.com/news/93...019-03-on-june

JayBag Jul 12, 2019 2:06am | Post# 91316

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Hello all, Hope we all good, been a while sine I contributed here.. straight to it, here's my idea direction for a 100 pip move (if things go a bit smooth lol) anyway, who else thinking same? {image}
Morning all,

Idea still valid.. Managed to add a few more just at the bottom of the engulfing..
Not convincing close below so I stayed

let's see today's close
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MzansiObi Jul 12, 2019 2:07am | Post# 91317

Morning traders

Buy limit
1.12625
25 pip SL

Ata-Turkoglu Jul 12, 2019 2:14am | Post# 91318

New Pending Order, Buy Limit: 1.1250 Lot: x SL: 1.1222 TP: Open Stay Green
Moving SL to breakeven.. zero risk..

Stay Green

JayBag Jul 12, 2019 2:15am | Post# 91319

Morning traders Buy limit 1.12625 25 pip SL
nice level O..
will add if we get that handle

MzansiObi Jul 12, 2019 2:22am | Post# 91320

{quote} nice level O.. will add if we get that handle
I see you're already long on this pair bud?


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