Hi. Definitely new to trading. I am focusing solely on this pair, so whole hearted welcoming any advice. I am from the Caribbean, and just looking for a broader community to share experiences.
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DislikedHeya, actually this is exactly what I wanted to hear and it is very useful knowledge you share. Kinda secrets for forex "cooking" tradin. I already made about 15 pdf files consisted from users questions and your very useful tips you shared here, including graphs. At some point I will forward all these back to you so you might use it to share or to make a book for beginners . Yes, definetely looking forward for the demonstration also on the 30M chart. Best regards, d.Ignored
Stay Green
DislikedA few of you might remember my post around "food for thoughts"... according to that the daily journey of B1 still continues by the way lol Stay Green {image}Ignored
DislikedM30 Quick Outlook and Fibonacci Symmetry Levels The first thing you must notice is candles still couldn't make a new higher high above pivot!!!!! Tells me that bulls are not so strong yet. If you focus solely on fibonacci symmetry areas, what bulls want to do now is probably to first stay above fib -38.2 and -50.0 Bears probably want to push price down below 1.1555 for bearish continuation, therefore bears require more efforts than bulls. meaning: the whole area between fib -78.6 to fib -61.8 is buy zone AS LONG AS PRICE STAYS ABOVE 1.1555 (Therefore...Ignored
DislikedM30 Quick Outlook and Fibonacci Symmetry Levels The first thing you must notice is candles still couldn't make a new higher high above pivot!!!!! Tells me that bulls are not so strong yet. If you focus solely on fibonacci symmetry areas, what bulls want to do now is probably to first stay above fib -38.2 and -50.0 Bears probably want to push price down below 1.1555 for bearish continuation, therefore bears require more efforts than bulls. meaning: the whole area between fib -78.6 to fib -61.8 is buy zone AS LONG AS PRICE STAYS ABOVE 1.1555 (Therefore...Ignored
Disliked{quote} can we think at the last 2 tops as a double top? or are they too close to each other?Ignored
On image the best double top I prefer is D... next would be C and then maybe sometimes I could also pick B as okay... and lastly, I would avoid double tops of type A, they are the weakest.. Why especially higher high shadows of candles work is that they reflect the stop loss hunting process of banks.. Once it is done and as many trades as possible have been stopped out they immediately drop price. (For double bottoms all you need is flip the logic)
Stay Green
Disliked{quote} Decide for yourself with my explanation along double tops on image below.. Whenever you spot a pattern that looks like double top you must ask yourself 2 questions: Is the second top a higher high? Is the second close a higher close? On image the best double top I prefer is D... next would be C and then maybe sometimes I could also pick B as okay... and lastly, I would avoid double tops of type A, they are the weakest.. Why especially higher high shadows of candles work is that they reflect the stop loss hunting process of banks.. Once it...Ignored
DislikedAta, thanks for the answers. Again some newbie questions you might have answers on. 1. The first thing you must notice is candles still couldn't make a new higher high above pivot!!!!! Tells me that bulls are not so strong yet. Question: How did you calculate that daily Pivot? You set it manualy? On my trading account pivot is currently defined at 1.1580. I guess I need to change to some other trading platform. Maybe to use MT4 or MT5. Currently I trade on web based interface where I can see daily pivot as stated with support [email protected] [email protected]...Ignored
Disliked{quote} Hi Ata, where do you get the Fibo levels from? I've put a fibo-indi on my chart, but the PP appears at 1.158x!? Respectively the other levels are different tooIgnored