Attachments: EURUSD only

EURUSD only

#64,721
Dec 3, 2018 2:45am Dec 3, 2018 2:45am

vvm
Joined Mar 2017 | Status: Trader | 1,378 Posts

M5
new BearishFlag

atb/vvm

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PA Trading with EMAs & common Sense

#64,722
Dec 3, 2018 2:48am Dec 3, 2018 2:48am

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

The gap closing is coming

Tp 1 pivot line 1.13400
Tp 2 gap at 1.13165

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yes yes yes

#64,723
Dec 3, 2018 2:49am Dec 3, 2018 2:49am

vvm
Joined Mar 2017 | Status: Trader | 1,378 Posts

m5

bearishtl is broken too

atb/vvm

PA Trading with EMAs & common Sense

#64,724
Dec 3, 2018 2:51am Dec 3, 2018 2:51am

engweijie
Joined Aug 2018 | Status: Full-Time Gambler | 2,549 Posts

Quoting post

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{quote} nothing wrong with the bear bias my friend, market dosent like the gap up or down always try to fill up unless force is too strong, so we could be up for the gap filling later today then rise again unless really bad data from EU, there are few important EU data in the pipeline which could make a bigger impact on today's movement Trade safe. Happy Trading

Ignored

I look forward to hearing your thoughts come news time, always an interesting read

Quoting galactico

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{quote} Dangerous to say the EU is completely bearish. The longer term charts agree with that assumption but H4 and below are very mixed or slightly bullish. We've been to 1.12x a couple of times and back to 1.14x. This is more of a classic ranging situation. (a fairly tight one) Now that doesnt mean that from day to day there wont be clear bullish or bearish trends but, at the moment, any strong pushes in either direction are being retraced fairly quickly. The longer term breakout could take a while to happen. Just my thoughts

Ignored

I can't and won't deny with what you just said. As a few have mentioned earlier, there's no hard and fast rule saying the gap HAS to be corrected. We could jolly well soar up and tag 1.1425 by NY for all we know. But IMO at this hour the ball is really still in anyone's court. The reason why I still hold my shorts is because my MM allows me to - realistically given that I allocate lot sizes based on how green (or scale down if I'm red) for the day, I have just about slightly less than 50 pips to spare after including the buy scalps as an actual SL and still come out of this near BE. If this were my first trade of the day, I'd have likely exited when price first hit 1.1369 then made a pullback to 1.1360.

As for my bear bias, as of right now it really does seem like anyone's game. H1 shows price sitting nicely on dynamic support (or at least, Ata's 54 and 49 lwmas), and given there's only 15 minutes left to closing I would think it's safe to assume we'd close somewhere around here, sitting snugly on said support. What I am looking out for, is how the next hour goes. So far, M5 candles have closed under the 1.1363 level, so the next hour I will want to see if it turns and resists, where I start looking out for candles closing above (first factor to invalidate my bear sentiment) and H1 candles unable to close below 1.1355 (second factor to throw out my bear bias). On the daily chart, our current high (1.13798 on my broker) is just shy of resistance at 1.1386, and price was rejected on its approach.

Gives me confidence to continue holding my bearish sentiment at least for the next hour (or next breakout *knock on wood*) or so. The day's still early so there's still lots of time to see how she plays out.

Of course, it would be absolutely suicidal and foolish to insist on my view should the tides change, which is why I’m keeping a close watch on the next two hours fully aware that I might have to throw this trading plan out the window.

Happy trading to you brother hope you've had a good start to the week

You hesitate, you masturbate.

#64,725
Dec 3, 2018 2:54am Dec 3, 2018 2:54am

irinsexpert
| Membership Revoked | Joined Dec 2018 | 89 Posts

Quoting engweijie

Disliked

{quote} The current and next hour should be the decisive factor in setting the tone for today. So far (pardon my bear bias, I'm still holding the shorts but I've been buy-scalping dips to make up for the drawdown) that bull run looks like a classic Frankie fakeout and we're back on a downmove, whether to correct the gap or for continuation of last Friday I don't know but I do agree with what you said about bears having the upper hand (for now). But yeah time will tell. Let's see how this hour ends first.

Ignored

Hi engweijie.
Yes I agree. since the Pivot may not pas R38. the resistance will make the retracement a bit longer.

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#64,726
Dec 3, 2018 2:54am Dec 3, 2018 2:54am

vvm
Joined Mar 2017 | Status: Trader | 1,378 Posts

M5
I think it is a Range 25p

atb/vvm

PA Trading with EMAs & common Sense

#64,727
Dec 3, 2018 2:57am Dec 3, 2018 2:57am

Fredrick7
| Joined Jun 2018 | Status: Trader | 325 Posts

It sometimes takes days for gaps to close. Sometimes they don`t close at all but come to present support areas.

Looks like wave 5 up on 15m. I`m aiming at 1.1380 - to begin with.

#64,728
Dec 3, 2018 2:58am Dec 3, 2018 2:58am

okshop
Joined Mar 2017 | Status: Impeccable | 2,829 Posts

Quoting okshop

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{quote} bears defended the H1 tag ( on thin ice)

Ignored

1 more try in 4 min

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Self discipline It is a practice

#64,729
Dec 3, 2018 2:58am Dec 3, 2018 2:58am

vvm
Joined Mar 2017 | Status: Trader | 1,378 Posts

M5
I was a bit to late for Long
but I bought a bit, sl,tp 10p

atb/vvm

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PA Trading with EMAs & common Sense

#64,730
Dec 3, 2018 2:59am Dec 3, 2018 2:59am

Mitiblotch
Joined Sep 2017 | Status: Trader | 11,357 Posts | Online Now

Still patiently waiting for 1.139x area. May or may not come.

#64,731
Dec 3, 2018 3:00am Dec 3, 2018 3:00am

okshop
Joined Mar 2017 | Status: Impeccable | 2,829 Posts

Quoting okshop

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{quote} 1 more try in 4 min {image}

Ignored

again bears defended (closed 5 long)

Self discipline It is a practice

#64,732
Dec 3, 2018 3:01am Dec 3, 2018 3:01am

galactico
| Joined Dec 2017 | Status: Trader | 155 Posts

Quoting engweijie

Disliked

{quote} I look forward to hearing your thoughts come news time, always an interesting read {quote} I can't and won't deny with what you just said. As a few have mentioned earlier, there's no hard and fast rule saying the gap HAS to be corrected. We could jolly well soar up and tag 1.1425 by NY for all we know. But IMO at this hour the ball is really still in anyone's court. The reason why I still hold my shorts is because my MM allows me to - realistically given that I allocate lot sizes based on how green (or scale down if I'm red) for...

Ignored

agree. It's all about the timeframe you trade.
Keep it up I enjoy your commentaries

It takes time

#64,733
Dec 3, 2018 3:02am Dec 3, 2018 3:02am

brr001
| Membership Revoked | Joined Apr 2018 | 281 Posts

short covering in EU is very sharp, excellent time to short at the highs

#64,734
Dec 3, 2018 3:08am Dec 3, 2018 3:08am

Kimjoun
| Joined Aug 2017 | Status: Trader | 373 Posts

Quoting Moty

Disliked

The gap closing is coming Tp 1 pivot line 1.13400 Tp 2 gap at 1.13165 {image}

Ignored

are u ready?

#64,735
Dec 3, 2018 3:09am Dec 3, 2018 3:09am

brr001
| Membership Revoked | Joined Apr 2018 | 281 Posts

In Technical Analysis, all you should be doing is to assess the balance of power between the bulls and the bears, and take the side of the strongest... other than that, you are wasting your time...

#64,736
Dec 3, 2018 3:09am Dec 3, 2018 3:09am

vvm
Joined Mar 2017 | Status: Trader | 1,378 Posts

M5
closed my small Long with small Loss

atb/vvm

PA Trading with EMAs & common Sense

#64,737
Dec 3, 2018 3:11am Dec 3, 2018 3:11am

post
Joined Aug 2012 | Status: Fundamental & Technical Analyst | 1,910 Posts

Quoting engweijie

Disliked

{quote} I look forward to hearing your thoughts come news time, always an interesting read {quote} I can't and won't deny with what you just said. As a few have mentioned earlier, there's no hard and fast rule saying the gap HAS to be corrected. We could jolly well soar up and tag 1.1425 by NY for all we know. But IMO at this hour the ball is really still in anyone's court. The reason why I still hold my shorts is because my MM allows me to - realistically given that I allocate lot sizes based on how green (or scale down if I'm red) for...

Ignored

Well we have some positive green data from EU today, not some huge numbers but enough to help the EU keep smiling or rise again if a pull down occurs, data wise I personally liked the only RED data which is from Italy as I guess it will put more pressure on trouble maker Italy government rather then on EU, so far bulls having a easy rise today, now waiting for final data (US ISM) if we get RED then EU could try to capitalize it and finally close above 1.1402 to give a bullish impression short term.

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