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  • #2,821
  • Oct 26, 2017 4:30pm Oct 26, 2017 4:30pm
its fallen 160 pips and cut through a whole load of support,
complete bullish candle set up failure, box failure
it's oversold ...
right now prob the little lower wick of open day, then maybe a little upper next
daily says down it's not the same because the example was a box
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  • #2,822
  • Oct 26, 2017 4:35pm Oct 26, 2017 4:35pm
you must not buy the consolidation ,its typical right now lets see
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  • #2,823
  • Oct 26, 2017 4:37pm Oct 26, 2017 4:37pm
Quoting Venomousssss
{quote} eh.. but how much does the h&s really matter..i think it could get near 1700 with a spike from US GDP miss and just trigger shorts and shit back down to 14xx..invalidated H&S doesnt mean downttrend invalid
The head and shoulders means everything, I mean, what if everyone in the world ends up with dandruff? We wouldn’t want that, would we? Ok then, let’s make sure we keep the H&S intact. But seriously, your point is well taken, the medium term trend can remain bearish with or without one chart pattern, I am just hoping to play it out a bit more.
  • #2,824
  • Oct 26, 2017 4:43pm Oct 26, 2017 4:43pm
the size of this and what it did should have bulls worried ,I could see another maybe smaller with that little lower and upper next
who opens a long next
maybe move away and then up to test I can see it
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  • #2,825
  • Oct 26, 2017 4:46pm Oct 26, 2017 4:46pm
the up we see if it comes is closing shorts as days end
your looking quick break ideally early hours , short will be set on the way up ,on the break
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  • #2,826
  • Edited 4:59pm Oct 26, 2017 4:48pm | Edited 4:59pm
We are here now - posted last Sat

Quoting Tradingwithw
Nice little gap down- nothing crazy but expected seeing as Friday ended in a sell off. Keep an eye out for continuation, if 1.1662 is closed on the daily we're looking for a nice drop down to the 14 handle, and maybe even into the 12 handle before new highs > 20 handle Also note, the head and shoulders pattern on the daily/weekly would TP at 400 pips!!
@mihai yes, the 1.15 handle is open now - I want to short the levels I posted earlier for the above scenario....I have been waiting for and will be watching the 1.15 handle for bullish reversal...there is a trade there that could lead to new all time highs above 1.20

If the FED does not raise rates in December (I expect them to), it might be right on time to assist that bull @ 1.15
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  • #2,827
  • Oct 26, 2017 4:57pm Oct 26, 2017 4:57pm
this daily is in line with local higher tf
and right now w1
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  • #2,828
  • Oct 26, 2017 5:03pm Oct 26, 2017 5:03pm
Initial 80 pip move was EURO weakness but then the remaining movement was mainly USD strength.
instagram: stepbystepforex
  • #2,829
  • Oct 26, 2017 5:04pm Oct 26, 2017 5:04pm
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  • #2,830
  • Oct 26, 2017 5:12pm Oct 26, 2017 5:12pm
= between the 2 halves
Quoting rafael5643
Initial 80 pip move was EURO weakness but then the remaining movement was mainly USD strength.
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  • #2,831
  • Oct 26, 2017 5:26pm Oct 26, 2017 5:26pm
= between the 2 halves {quote}[/quote]
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  • #2,832
  • Oct 26, 2017 6:01pm Oct 26, 2017 6:01pm
a potential retracement will be at least @?
Investing is SIMPLE but NOT EASY
  • #2,833
  • Oct 26, 2017 6:09pm Oct 26, 2017 6:09pm
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  • #2,834
  • Oct 26, 2017 6:13pm Oct 26, 2017 6:13pm
Hi, first post here
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  • #2,835
  • Oct 26, 2017 6:18pm Oct 26, 2017 6:18pm
Quoting Moly_Cam5
a potential retracement will be at least @?
Personally, I can’t see one right now, only thing I see is support at 1.15, but seems like lots of people are looking at that. If this is the break where we drop down there, it shouldn’t give people a chance to get in short at a higher level. No point in calling a retracement back up, in my opinion, until we actually see it going back up and get some successive positive bars.
  • #2,836
  • Oct 26, 2017 6:20pm Oct 26, 2017 6:20pm
Quoting 6EforMe
{quote} Personally, I can’t see one right now, only thing I see is support at 1.15, but seems like lots of people are looking at that. If this is the break where we drop down there, it shouldn’t give people a chance to get in short at a higher level. No point in calling a retracement back up, in my opinion, until we actually see it going back up and get some successive positive bars.
maybe at some point to 1666 area..dont count on much more.
  • #2,837
  • Oct 26, 2017 7:33pm Oct 26, 2017 7:33pm
Quoting 6EforMe
{quote} Personally, I can’t see one right now, only thing I see is support at 1.15, but seems like lots of people are looking at that. If this is the break where we drop down there, it shouldn’t give people a chance to get in short at a higher level. No point in calling a retracement back up, in my opinion, until we actually see it going back up and get some successive positive bars.
guess cuz of that they will shake the confidence of traders to sell a little while before next fall guess it will be next week
Investing is SIMPLE but NOT EASY
  • #2,838
  • Oct 26, 2017 7:51pm Oct 26, 2017 7:51pm
Quoting Moly_Cam5
{quote} guess cuz of that they will shake the confidence of traders to sell a little while before next fall guess it will be next week
I dont quite understand what you mean there. But look at it this way..the average monthly range is 400 ish pips. This month has 200 to go and has the means to play catch up a bit with the momentum that's going. Look at the 1580 level..if it breaks there..its likely to look like air down to 1480 to some extent..completing the average monthly range. 50%l retracement from the weekly bull trend puts the number mid term at 1.12..also just so happens to be the difference between the Head and Shoulders 400 pip acceptable neckline drop.

Top those strong technicals off with radical fundamentals that the ECB gave us today, and that USD maay give tomorrow..and you have strong odds of getting that retracement to 1.12 in the Quarter.

Moral of the story is the safest trading done here is on any form of bounce in a short position..not a long.
  • #2,839
  • Oct 26, 2017 7:51pm Oct 26, 2017 7:51pm
Is it possible down for 90-100 pips today?
  • #2,840
  • Oct 26, 2017 7:54pm Oct 26, 2017 7:54pm
Quoting new_member
Is it possible down for 90-100 pips today?
if USD GDP hits the mark or better, absolutely. maybe more.
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