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  • #49,241
  • Oct 2, 2018 1:04am Oct 2, 2018 1:04am
Quoting Moty
{quote} Why weak ? There is still a series of hh and hl , and even if it want to go down , he will make a right shulther first {image}
I agree, just looking at currency strength: http://www.livecharts.co.uk/currency-strength.php

This is where I see it turning back long in the short term. Hitting the trendline...
Attached Image (click to enlarge)
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  • #49,242
  • Oct 2, 2018 1:04am Oct 2, 2018 1:04am
Quoting PatienceFx
how can i short a setup like this, even though trend is very bearish {image}
Is your sell order running or you closed it after checking your charts.
  • #49,243
  • Oct 2, 2018 1:06am Oct 2, 2018 1:06am
I think many of us misunderstand what price action is.

I bet most of us thinks price action as a pattern.

There's a reason why it's called price action not price pattern.

Price action is solely based on price action and reaction when it gets close to certain support and resistance or supply and demand.

For instance, if the price go near to certain supply or resistance area, what kind of action/reaction will the price do?
1. Pull back which then follows with a trend continuation to the upside
2. Break the resistance and made a significant pullback and continue breaking a new high?
3. Break and got rejected and reversed?
4. Move side way (consolidate) pinbar and continue to the upside?
5. Move side way (consolidate) pinbar for too long, became exhausted and reversed?
etc....
This is not investment/trading advise. Will not hold accountable for loss
  • #49,244
  • Oct 2, 2018 1:06am Oct 2, 2018 1:06am
Quoting Mitiblotch
{quote} Good morning. Are your algos still long?
Good morning to you and all,

No Algo closes trades at the end of the day. I'll post if it reenters.

----------------------------------------------------------

Watching 1548-50 to see if it resists price then consider reentering short (took a short earlier and closed it for a few).
  • #49,245
  • Oct 2, 2018 1:07am Oct 2, 2018 1:07am
Quoting Dingoman-two
{quote} Ill have to save this one to file, to late the misses just walked up behind me and gave me a good slap in the back of the head
I had black and blue arms that whole summer
  • #49,246
  • Oct 2, 2018 1:08am Oct 2, 2018 1:08am
Quoting estrago
{quote} I agree, just looking at currency strength: http://www.livecharts.co.uk/currency-strength.php This is where I see it turning back long in the short term. Hitting the trendline... {image}
Estrago,
That's my level too...but how did you draw that TL ...what's the second point?
  • #49,247
  • Oct 2, 2018 1:09am Oct 2, 2018 1:09am
Quoting mbrown
{quote} Good morning to you and all, No Algo closes trades at the end of the day. I'll post if it reenters. ---------------------------------------------------------- Watching 1548-50 to see if it resists price then consider reentering short (took a short earlier and closed it for a few).
Thank you.
  • #49,248
  • Oct 2, 2018 1:09am Oct 2, 2018 1:09am
Quoting digger1
{quote} it could always have a bit of a tail on a daily chart ,, pretty serious about going down atm lol sure london wont want to miss this much tho
Hi Dig,

Yes I'm aware of the tail possibility so watching for signs of resistance at 1550ish. I'm surprised it cut through 1548 so easily.
  • #49,249
  • Oct 2, 2018 1:09am Oct 2, 2018 1:09am
[quote=sponge;11530011]This old bug#er aint finished yet by the look of it, falling below at the open Looking at the daily I think we have some more downside ahead even though todays candle looks like a hammer volume aint confirming for me. If we go downside next week could see a re-test of 1.1520 area, I think if this goes then pack your shorts your gonna need them

1.1520 bounce and maybe some bullish signs

But don't hold your breath volume is AWOL atm
All charts/ideas based on UK time zone
  • #49,250
  • Oct 2, 2018 1:11am Oct 2, 2018 1:11am
Target is probably 1.15257
Attached Image (click to enlarge)
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yes yes yes
  • #49,251
  • Oct 2, 2018 1:16am Oct 2, 2018 1:16am
Quoting digger1
{quote} The only reason you should be watching for a turn is too close shorts and take some profit or tighten your trailing stp up ,, not worrying about reversing,, you got a quarterly low at 1.13 who is to say it dont end up there before it gives a worthwhile long,, you have a hidden gap between 1.15 and 1 ,14 who is to say that dont get filled ,, least let it make a few tracks before squeezing off a reverse for a longer hold ,, you are trying to day trade small 2 or 3 three day swings moty its killing you {image}
Hi digger,
Are you plotting quarterly open, high, low ,close manually or there is an indicator which shows these quarterly levels on the chart.
MRMALIK1
  • #49,252
  • Oct 2, 2018 1:16am Oct 2, 2018 1:16am
Quoting Moty
Target is probably 1.15257 {image}
Yeah, there is strong monthly support there, I bet price won't get below it easily.

Also I think 1.1526 to 1.1568 may be a range eventually

Time will tell
  • #49,253
  • Oct 2, 2018 1:17am Oct 2, 2018 1:17am
Quoting kayikayi
{quote} Estrago, That's my level too...but how did you draw that TL ...what's the second point?
Just a guess with that line being monthly support
  • #49,254
  • Oct 2, 2018 1:19am Oct 2, 2018 1:19am
guess I will go opposite of what everyone thinks here (5200). I see a possible push to 4900 (S3).. we shall see
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #49,255
  • Oct 2, 2018 1:20am Oct 2, 2018 1:20am
Quoting mrmalik1
{quote} Hi digger, Are you plotting quarterly open, high, low ,close manually or there is an indicator which shows these quarterly levels on the chart.
My ensign charts its a template a friend made up for me ,, havent really found a good one for mete trader
  • #49,256
  • Oct 2, 2018 1:26am Oct 2, 2018 1:26am
Good day and good trading to all !

To me, half staff flag seems now confirmed, if so, it gives me a target of 1.1466 on the H1 chart

Attached Image (click to enlarge)
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And this will break the 4 month distribution triangle seen on the 4H chart leading to a much bigger fall...

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Simplicity is the Ultimate Sophistication.
  • #49,257
  • Oct 2, 2018 1:26am Oct 2, 2018 1:26am
Quoting moneymagnet
guess I will go opposite of what everyone thinks here (5200). I see a possible push to 4900 (S3).. we shall see
Most posts are bearish like yours so it is far from the opposite. I reckon price favours 144x while price is below 1625-6, on a time and price basis I expect that to be hit no later than tomorrow.
  • #49,258
  • Oct 2, 2018 1:26am Oct 2, 2018 1:26am
Quoting mrmalik1
{quote} Hi digger, Are you plotting quarterly open, high, low ,close manually or there is an indicator which shows these quarterly levels on the chart.
Levels havent changed a lot from last quarter ,, if you want the camirilla levels I will post one of them too, just holler ,, these are the standard pivots
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  • #49,259
  • Oct 2, 2018 1:27am Oct 2, 2018 1:27am
Wow, 5 th day in a row and it is still falling wow. . i see also other retail traders cant believe and 76 % on myfxbook are long. I am short so far as hourly trend goes down, probably it will turn soon but lets see.
  • #49,260
  • Oct 2, 2018 1:28am Oct 2, 2018 1:28am
Quoting estrago
{quote} Just a guess with that line being monthly support

Ah ok thanks!!!! I thought you cloned it too lol lol
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