Disliked{quote} Price is not reacting to the trend line colored that you drew, the price is acting like that, fractal nature playing out.Ignored
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Disliked{quote} Price is not reacting to the trend line colored that you drew, the price is acting like that, fractal nature playing out.Ignored
DislikedIt's looking more and more like we might not get that deep pullback I am hoping for on EURUSD. Bulls are still strong.Ignored
Disliked{quote} That reminds me of something I heard a moving average guru say about those lines. He was teaching hidden divergence, (which is a legit technique, and does work, but I don’t use it because you miss out on too many opportunities), and he said how price “gravitates” towards the MA. I was thinking to myself, uh no I don’t think so. It’s actually the other way around.Ignored
DislikedIs it weird that I just don't get TA? I've read the book by Murphy and portions of the older one by Edwards and Magee, and while I understand and even implement some of the concepts, technical analysis still only feels like one piece of the greater puzzle. But if someone is making money off of some obscure shapes and animals and furnitures that price candles form, who am I to judge?Ignored
DislikedI am still leaning bearish on this, and believe this zone is valid for sells. While it's true that early Friday price action pierced through the supply zone, it only wicked above it, and did not close above the opening price of January 14th. This was absorption, clearing the liquidity above. See the daily chart below, with the wicks removed. I've also attached a 4H perspective. Of course I could be proven wrong early next week, and that's fine too. {image} {image}Ignored
Disliked{quote} No matter where the price goes from here, I find your analysis spot on. It will be nice to see how the situation evolves. I have to say, love that "wickless" chart ! Wicks/shadows could be overused in common strategies. I use them, but I know of just as many strategies that don't take them into consideration at all.Ignored
DislikedI should add that my cup is basically empty from a learning perspective (live account only 4 months old), so the internet and FF has had a few months to fill my head with nonsense theories/systems/hypotheses/etc. What I discovered in my beginner's journey is that everyone's TA is better than the other's, the guru on social media is copy-pasting from babypips, and also that the angrier a person is on this thread, the more at-risk their positions are.Ignored
Disliked{quote} You’re absolutely right, buddy. I stand by my belief (for now) that this daily supply zone will hold, and this pair will drop. Fundamentals support it as well. I don’t know if you’re a Wyckoff guy, but I’m fascinated by it. If it does head down in the next couple of days then it could look something like this distribution on the 1H: (I marked this up for fun yesterday but didn’t get a chance to post it. So far it’s doing the opposite. LOL but it’s still early). {image}Ignored
Disliked{quote}I am not a Wyckoff guy but since you are I am a bit more interested in it. yes so far it is doing the opposite and that often happens, but I wouldnt take too seriously what happens within Fridays candle, especially not since you are looking at 1H and it just didnt have much of anything new last friday, in my view. I also see you have many "predicted" levels and many predicted steps in future. Is that typical of Wyckoff's approach?Ignored
Disliked{quote} The predicted levels are just forecasting, which is admittedly a bit too detailed here. The important areas to look at are the imbalance zones and possibly the next higher 1H supply zone. Of course anything predictive is mostly speculative, but with Wyckoff it’s easy to recognize when the first couple of phases have shown their hand, especially seeing as how price is playing around in a daily supply zone, and some kind of reversal formation is within the realm of possibility. It’s still early but if we see an upthrust (UT) then it’ll hold...Ignored
Disliked.. that the angrier a person is on this thread, the more at-risk their positions are.Ignored
Disliked{quote} Very interesting. Thanks. And might I add, if it wasn't for your detailed chart, you would have lost me. You would be a good teacher. Keep that in mind when you retire from your trading but need to keep your toes wet !Ignored
Disliked{quote} Thanks for the kind words bro! You’ve actually given me a great idea, I should just skip trading and go straight to being an educator. Get a sweet IB deal with a broker. Just kidding, I am having a good time trading. Especially now that I have a much better understanding of how to do it properly. The other day I was looking through some of my very early posts on FF, and man I had no clue WTF I was doing. Even as late as last year. I’m actually thinking of starting a journal soon in the trading journal...Ignored