PA Trading with EMAs & common Sense
- #64,722
- Dec 3, 2018 2:48am Dec 3, 2018 2:48am
- 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
Tp 1 pivot line 1.13400
Tp 2 gap at 1.13165
yes yes yes
- #64,723
- Dec 3, 2018 2:49am Dec 3, 2018 2:49am
- Joined Mar 2017 | Status: Trader | 1,378 Posts
PA Trading with EMAs & common Sense
- #64,724
- Dec 3, 2018 2:51am Dec 3, 2018 2:51am
- Joined Aug 2018 | Status: Full-Time Gambler | 2,549 Posts
{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
{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
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.
- #64,726
- Dec 3, 2018 2:54am Dec 3, 2018 2:54am
- Joined Mar 2017 | Status: Trader | 1,378 Posts
PA Trading with EMAs & common Sense
- #64,728
- Dec 3, 2018 2:58am Dec 3, 2018 2:58am
- Joined Mar 2017 | Status: Impeccable | 2,829 Posts
{quote} bears defended the H1 tag (on thin ice)
Self discipline It is a practice
- #64,729
- Dec 3, 2018 2:58am Dec 3, 2018 2:58am
- Joined Mar 2017 | Status: Trader | 1,378 Posts
PA Trading with EMAs & common Sense
- #64,731
- Dec 3, 2018 3:00am Dec 3, 2018 3:00am
- Joined Mar 2017 | Status: Impeccable | 2,829 Posts
{quote} 1 more try in 4 min
Self discipline It is a practice
- #64,732
- Dec 3, 2018 3:01am Dec 3, 2018 3:01am
{quote} I look forward to hearing your thoughts come news time, always an interesting read
Keep it up I enjoy your commentaries
It takes time
- #64,736
- Dec 3, 2018 3:09am Dec 3, 2018 3:09am
- Joined Mar 2017 | Status: Trader | 1,378 Posts
PA Trading with EMAs & common Sense
- #64,737
- Dec 3, 2018 3:11am Dec 3, 2018 3:11am
- Joined Aug 2012 | Status: Fundamental & Technical Analyst | 1,910 Posts
{quote} I look forward to hearing your thoughts come news time, always an interesting read
Happy Trading
Trades technical moves enforced by fundamentals
