Friday shenanigans again …
- Joined Mar 2012 | Status: Trader | 13,697 Posts | Online Now
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- Joined May 2014 | Status: Full Time Trader | 23,902 Posts
Quick H4 Outlook for Monday-Tuesday
- With the help of my "circles" logic, I spotted 2 areas where price might continue to respect the edges:
- Currently, we are in the lower section, and therefore I suggest to focus on ~1.0306 to ~1.0281 supportive area first.
- If bears can not break lower, candles stay trapped in the circled zone and might retest the ~1.0415 to ~1.0471 area
throughout Monday and Tuesday.
- Based on weekly chart, remember that I marked ~1.0400 as my overall key decision level!
- And now, based on H4, you can see that the nearest resistance level here is ~1.0415.
- Therefore, I suggest to mark ~1.0400 to ~1.0415 area altogether as our crucial decision level on weekly...
While above, bulls have more power and while below, bears.
- In the last minute, I also added a horizontal line at 1.0348 to mark the overall balance level for H4.
Meaning that while below 1.0348, bears have even more power on this timeframe! - Finally, I also added a 3rd scenario where candles drop out of the circled area in a sideways fashion until Wednesday.
- I will try to update this chart whenever necessary... but this should be enough to present the core of my thoughts...
I hope it helps... Cheers 
Be a seer, not a looker!
Quick H4 Outlook for Monday-Tuesday With the help of my "circles" logic, I spotted 2 areas where price might continue to respect the edges: Currently, we are in the lower section, and therefore I suggest to focus on ~1.0306 to ~1.0281 supportive area first. If bears can not break lower, candles stay trapped in the circled zone and might retest the ~1.0415 to ~1.0471 area throughout Monday and Tuesday. Based on weekly chart, remember that I marked ~1.0400 as my overall key decision level! And now, based on H4, you can see that the nearest resistance...
No wiggle room for others to add
- Joined Sep 2015 | Status: ob-la-di, ob-la-da, life goes on... | 4,336 Posts
EUR/USD... pending positions:
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
- Joined Mar 2012 | Status: Trader | 13,697 Posts | Online Now
“Now, 2 patterns of market behavior happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
They happen regardless of time frame.
They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.” - H. Rearden
Price Action
#advancedalientrading1) Price will either breakout of the high, low or both of the previous bar
2) Price will not breakout of the previous bar.
3) Price will either close above a level (line) or not.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- Joined Sep 2015 | Status: ob-la-di, ob-la-da, life goes on... | 4,336 Posts
EUR/USD... updated pending positions:
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
