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THE only Pattern

  • #7,901
  • Dec 4, 2018 6:00am Dec 4, 2018 6:00am
Quoting witowito
{quote} I really want to short eur aswell at 1.141xx - 1.142xx levels but about that dxy picture... this is what is making me thing that something is wrong... trend could be dieying or at least make a bigger pullback.. {image}
so far price respected that area as I expected...(did no trade it) but let see how it act at natural support zone(grey down box)
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  • #7,902
  • Dec 4, 2018 6:56am Dec 4, 2018 6:56am
M with 3 black crows.
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #7,903
  • Dec 4, 2018 7:27am Dec 4, 2018 7:27am
Quoting Inthebox
M with 3 black crows. {image}
Very interesting. I was actually looking at this thread yesterday: https://www.forexfactory.com/showthread.php?t=600812

Isn't this a a "W" pattern and so we should be looking for a breakout northwards, right? Or the other way?



Well the US session starting now will answer that question I'm sure - But normally I would be selling!
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  • #7,904
  • Dec 4, 2018 7:37am Dec 4, 2018 7:37am
EURAUD

Looks interesting? Once it's broken the trendline of course
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  • #7,905
  • Dec 4, 2018 7:56am Dec 4, 2018 7:56am
London open for eur... lets see how it goes baby
  • #7,906
  • Dec 4, 2018 7:57am Dec 4, 2018 7:57am
Quoting jmtini
EURAUD Looks interesting? Once it's broken the trendline of course {image}
mmm nice that kind of confluences are the best ones to know if a trade worth it or not... let see how price unfolds,
I dont trade exotics but looking at ur chart, eurusd could go much deeper than i expect...
  • #7,907
  • Dec 4, 2018 8:00am Dec 4, 2018 8:00am
just bought EU from 1.138xx
atheer1
  • #7,908
  • Dec 4, 2018 8:00am Dec 4, 2018 8:00am
if someone remeber our old friend (daily order block/pivot point)
... is working so far again
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  • #7,909
  • Dec 4, 2018 8:04am Dec 4, 2018 8:04am
Quoting atheer1
just bought EU from 1.138xx
I want to jump in also... just waiting for price to get to lnd level and make some price action to buy it with tight stops cause i dont feel confortable yet with the idea of switching definatly to longs...
as u told me always a new trend looks like a pullback at beggining but i was thinking about it and in term of probabilities, there is only one time wich make the trend switch and many times wich is just a pullback so i think it worth to just wait for price to tell u that definatly is a new trend isn it?
  • #7,910
  • Dec 4, 2018 8:14am Dec 4, 2018 8:14am
Quoting jmtini
EURAUD Looks interesting? Once it's broken the trendline of course {image}

Guys what I'm doing now with these intraday levels under attack, I draw a line at the close of the highest bar, then wait to see if the level holds. Then one can open the trade. Because once the level holds price action will be away from the level especially after failed retrace.

Very interesting - GJ and GA the actual level was the BRN and although broken through initially, held on retrace when bullish momentum was dying.
  • #7,911
  • Dec 4, 2018 8:16am Dec 4, 2018 8:16am
Quoting jmtini
{quote} Guys what I'm doing now with these intraday levels under attack, I draw a line at the close of the highest bar, then wait to see if the level holds. Then one can open the trade. Because once the level holds price action will be away from the level especially after failed retrace. Very interesting - GJ and GA the actual level was the BRN and although broken through initially, held on retrace when bullish momentum was dying.
Sounds interesting mate.
Could u attach a pic to show with an example what u saying... always better than words lol
Cheers
  • #7,912
  • Dec 4, 2018 8:26am Dec 4, 2018 8:26am
Quoting witowito
{quote} I want to jump in also... just waiting for price to get to lnd level and make some price action to buy it with tight stops cause i dont feel confortable yet with the idea of switching definatly to longs... as u told me always a new trend looks like a pullback at beggining but i was thinking about it and in term of probabilities, there is only one time wich make the trend switch and many times wich is just a pullback so i think it worth to just wait for price to tell u that definatly is a new trend isn it?
I understand your worries..........but last month closed as doji.........this week opened gap up.........price just closed the gap then back to break R above open......this encouraged me to adopt the early direction on retest..........I could be wrong.........but that is trading is to take your calculated risk........10-20 pip risk versus 120 pip reward.....
atheer1
  • #7,913
  • Dec 4, 2018 8:31am Dec 4, 2018 8:31am
Quoting atheer1
{quote} I understand your worries..........but last month closed as doji.........this week opened gap up.........price just closed the gap then back to break R above open......this encouraged me to adopt the early direction on retest..........I could be wrong.........but that is trading is to take your calculated risk
This is the kind of answer that I really appreciate atheer...
Thanks for it.
I still on my way of learning so this kind of explanations make me realize lots of thing and ti help me for real..
cheers

editing:

I know that is just your point of view from your experience...
  • #7,914
  • Dec 4, 2018 8:36am Dec 4, 2018 8:36am
Quoting jmtini
{quote} Very interesting. I was actually looking at this thread yesterday: https://www.forexfactory.com/showthread.php?t=600812 Isn't this a a "W" pattern and so we should be looking for a breakout northwards, right? Or the other way? Well the US session starting now will answer that question I'm sure - But normally I would be selling! {image}
W goes north. M goes south.
i think the one shown in your picture is not a W.
if i remember correctly, M and W are not widely spread out, but closer together.
ITB - Seeing Orderliness amongst 'Randomness'
  • #7,915
  • Dec 4, 2018 9:09am Dec 4, 2018 9:09am
Quoting Inthebox
put through some eu sell. {image}
tp
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ITB - Seeing Orderliness amongst 'Randomness'
  • #7,916
  • Dec 4, 2018 9:36am Dec 4, 2018 9:36am
Quoting atheer1
{quote} I understand your worries..........but last month closed as doji.........this week opened gap up.........price just closed the gap then back to break R above open......this encouraged me to adopt the early direction on retest..........I could be wrong.........but that is trading is to take your calculated risk........10-20 pip risk versus 120 pip reward.....
that would have been a nice set up.
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #7,917
  • Dec 4, 2018 9:46am Dec 4, 2018 9:46am
Quoting Inthebox
{quote} that would have been a nice set up. {image}
Yes at the gap test.........I was not there to catch it
atheer1
  • #7,918
  • Dec 4, 2018 9:52am Dec 4, 2018 9:52am
Quoting atheer1
just bought EU from 1.138xx
so this level does not hold the price up ................now trading at the S of 1.135xx...........taking about 10 pip loss on it
atheer1
  • #7,919
  • Edited 10:12am Dec 4, 2018 9:56am | Edited 10:12am
eu approaching day open, also brn 1.1350, daily pivot.
buy
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ITB - Seeing Orderliness amongst 'Randomness'
  • #7,920
  • Dec 4, 2018 10:02am Dec 4, 2018 10:02am
Quoting Inthebox
eu approaching day open, also brn 1.1350, daily pivot.
yes it is testing the water below,the bull territory,.
atheer1
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