Disliked{quote} Hi Elbert, Yeah I have my eye on it as well from a risk watcher. If it does go think it will affect all across the board but think metals and energy will be the big come-outs. My biggest positions are in and have been for some time Uranium, Nickel, Silver, and Oil. I think Uranium is the best play setup but is vulnerable to pullback from the spike we have had. I am waiting on Platinum to add in because I think at these levels it is representing good value against the other metals on a ratio basis. Hope all is going well for you and your...Ignored
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{quote} Hi Elbert nice trade so far. Your target aligns nicely with the last bull market support around 1530 and ABCD extension. The largest volume in this run was traded in Nov to Jan 2020 from 1453 to around 1600. Interesting to see it or when it gets to the area of volume what price and volume do. Good luck with the trade Elbert. {image} {image} {image}
regards E
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Hello All,
I just thought I'd use this momentous moment to say hello and wish you well.
All the best
Ben 
I just thought I'd use this momentous moment to say hello and wish you well.
All the best
Ben
It's all about bucks, kid. The rest is conversation.
- Post #13,118
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- Sep 23, 2022 10:42pm Sep 23, 2022 10:42pm
- | Joined Oct 2014 | Status: Member | 101 Posts
Hello,
Glad to see some people looking at patterns on the EURUSD. Here is my two cents and can take or leave the opinion.
Chanel Analysis: This channel one the EURUSD is textbook. So many people as seen above can see this without any tools as it's just very obvious. I use trends in my trading and I have for many moons, its one of my core analysis I do on any chart.
Pattern Analysis: So are patterns, but I use my patterns differently than most. The patterns I map out use both time and price measurements so they look the same each time you draw them. I've only ever seen one other trader that uses time and price but it makes perfect sense. The way I think of it - look at Black Friday when people are buy/selling like madness. There is a lot more emotions and bigger swings in price. Then look at a month after Christmas when hardly anyone is buying. Very different shopping experiences and very different emotions. Market is the same as we all know. So the only way I think people can truly map out patterns is by using time and price together. I use a lot of the ETP-3 patterns because of the higher risk vs reward and normally would love this pattern but the reversal area not lining up with support/resistance has me worried. If this pattern fails not only would I think we're going down to support for sure but we could even go past it.
Price Action: What i would really like to see is a doji or an engulfing bar, something in the reversal area before attempting something like this and of course we would have to be done before the yellow 127 time extension. But if we do get it, a target back near 1.000 could be a real possibility, especially if we start channeling the other way. If price action is too strong I could see us falling all the way down to 94 in which case i would look for a new pattern there and ignore this one.
Just my two cents.
Glad to see some people looking at patterns on the EURUSD. Here is my two cents and can take or leave the opinion.
Chanel Analysis: This channel one the EURUSD is textbook. So many people as seen above can see this without any tools as it's just very obvious. I use trends in my trading and I have for many moons, its one of my core analysis I do on any chart.
Pattern Analysis: So are patterns, but I use my patterns differently than most. The patterns I map out use both time and price measurements so they look the same each time you draw them. I've only ever seen one other trader that uses time and price but it makes perfect sense. The way I think of it - look at Black Friday when people are buy/selling like madness. There is a lot more emotions and bigger swings in price. Then look at a month after Christmas when hardly anyone is buying. Very different shopping experiences and very different emotions. Market is the same as we all know. So the only way I think people can truly map out patterns is by using time and price together. I use a lot of the ETP-3 patterns because of the higher risk vs reward and normally would love this pattern but the reversal area not lining up with support/resistance has me worried. If this pattern fails not only would I think we're going down to support for sure but we could even go past it.
Price Action: What i would really like to see is a doji or an engulfing bar, something in the reversal area before attempting something like this and of course we would have to be done before the yellow 127 time extension. But if we do get it, a target back near 1.000 could be a real possibility, especially if we start channeling the other way. If price action is too strong I could see us falling all the way down to 94 in which case i would look for a new pattern there and ignore this one.
Just my two cents.
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