Disliked{quote} Car accident? I hope everything is all right bro.. wise not to trade.. get a good recover during weekend.. wishing you all the best.. take care.. Stay Green and SafeIgnored
- #1,182
- Edited 11:11am Oct 6, 2017 10:58am | Edited 11:11am
- Joined May 2014 | Status: Full Time Trader | 27,160 Posts
Focus only on what truly matters!
- #1,183
- Oct 6, 2017 12:13pm Oct 6, 2017 12:13pm
- Joined Feb 2017 | Status: pippin' | 1,139 Posts
"go, get some rest bro.. hug your family and friends."
and that ends the week with what is most likely the best advise ever given in a trading forum
and that ends the week with what is most likely the best advise ever given in a trading forum
you are not expected to understand this
- #1,184
- Oct 6, 2017 12:45pm Oct 6, 2017 12:45pm
- Joined May 2017 | Status: Trader | 2,047 Posts
"go, get some rest bro.. hug your family and friends." and that ends the week with what is most likely the best advise ever given in a trading forum
- #1,186
- Oct 6, 2017 11:57pm Oct 6, 2017 11:57pm
- Joined Mar 2017 | Status: Impeccable | 2,829 Posts
HApPy weekend Traders 
Self discipline It is a practice
- #1,187
- Oct 7, 2017 5:55am Oct 7, 2017 5:55am
"go, get some rest bro.. hug your family and friends." and that ends the week with what is most likely the best advise ever given in a trading forum
In detegere possumus omnes mortui sunt
- #1,188
- Oct 8, 2017 7:26am Oct 8, 2017 7:26am
- Joined May 2014 | Status: Full Time Trader | 27,160 Posts
Focus only on what truly matters!
- #1,192
- Oct 8, 2017 10:38am Oct 8, 2017 10:38am
- Joined May 2014 | Status: Full Time Trader | 27,160 Posts
{quote} Thanks for sharing, Ata-Turkoglu. However, can I ask for a little more? When Japan is closed tomorrow, how would yen pairs react typically? Thanks. Always a pleasure reading and learning from your posts.
Stay Green
Focus only on what truly matters!
- #1,193
- Oct 8, 2017 10:43am Oct 8, 2017 10:43am
- Joined May 2014 | Status: Full Time Trader | 27,160 Posts
Focus only on what truly matters!
- #1,194
- Oct 8, 2017 10:59am Oct 8, 2017 10:59am
- Joined Feb 2017 | Status: pippin' | 1,139 Posts
Ata pretty much nails it.
D1:
we see a small gap to mean (indicated by the two EMA's you see on my charts, which are an EMA 20 and an EMA 10).
On setups like these usualy this gap tends to close. Nontheless not a good trading opportunity in my book, because it's too small of a gap to even concider buying the signal that formed with the last candle.
See the rejection, and also the rejections in the previous candles. Market does not want a lower price, so I also don't really see a short opportunity.
Also, the bank holidays in the US, Japan, Canada should bring us a very slow day with very little movement on monday.
For a short opportunity on an intaday trade, price needs to pull below Support, for a long opportunity the signal is there but the gap is too small and I don't see enough momentum to pull for some decent pips. (yet! I am waiting for it)
By the way, the upper resistence of this consolidation phase is exactly a 61.8 retracement of the last swing high, almost perfectly in line with mean price.
And because I know the question will come:
"Mean price" -> it is where the "price finds it's value", or simply put "where the price wants to be".
Technical backbround: Orders form around the mean in both directions, (people speculating on breakouts), orders tend to get filled both to the short and the long side, and when this happens the price simply keeps ranging, until some event triggers a breakout.
And that's exactly the situation we have here.
Means: sit and wait and see...
In good old "speak without saying anything"-fashion: It might go up, it might go down, in any case it will go from the left to the right
Seriously, anything can happen. We need a trigger and then take it either way, or not...
Stay green.
D1:
we see a small gap to mean (indicated by the two EMA's you see on my charts, which are an EMA 20 and an EMA 10).
On setups like these usualy this gap tends to close. Nontheless not a good trading opportunity in my book, because it's too small of a gap to even concider buying the signal that formed with the last candle.
See the rejection, and also the rejections in the previous candles. Market does not want a lower price, so I also don't really see a short opportunity.
Also, the bank holidays in the US, Japan, Canada should bring us a very slow day with very little movement on monday.
For a short opportunity on an intaday trade, price needs to pull below Support, for a long opportunity the signal is there but the gap is too small and I don't see enough momentum to pull for some decent pips. (yet! I am waiting for it)
By the way, the upper resistence of this consolidation phase is exactly a 61.8 retracement of the last swing high, almost perfectly in line with mean price.
And because I know the question will come:
"Mean price" -> it is where the "price finds it's value", or simply put "where the price wants to be".
Technical backbround: Orders form around the mean in both directions, (people speculating on breakouts), orders tend to get filled both to the short and the long side, and when this happens the price simply keeps ranging, until some event triggers a breakout.
And that's exactly the situation we have here.
Means: sit and wait and see...
In good old "speak without saying anything"-fashion: It might go up, it might go down, in any case it will go from the left to the right
Seriously, anything can happen. We need a trigger and then take it either way, or not...
Stay green.
you are not expected to understand this
- #1,197
- Oct 8, 2017 12:50pm Oct 8, 2017 12:50pm
- Joined May 2017 | Status: Trader | 2,047 Posts
{quote} I have.. that's why I said that price will eventually retest 1.1750 area.. maybe after a bounce from 1.1690 or directly.. depends on opening.. but after bounce is more likely.. just my opinion.. we have to watch opening candles first.. Stay Green
