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THE only Pattern

  • #8,261
  • Dec 28, 2018 5:35am Dec 28, 2018 5:35am
Quoting jmtini
{quote} Thanks atheer - yes waiting for suitable re-entry. Still think we're heading downwards and being Friday we may get a bigger ATR. That's the hope anyway I'm looking at the 15min chart only because I don't think we'll get a M30 re-entry point anymore today {image}
ENTRY is good at 140-140.10............but once broken up ............we may get 140.60-70.........unless daily open holds
atheer1
  • #8,262
  • Dec 28, 2018 5:51am Dec 28, 2018 5:51am
Quoting atheer1
{quote} ENTRY is good at 140-140.10............but once broken up ............we may get 140.60-70.........unless daily open holds
Absolutely agree

I'm trying a small one. With nearly 90% of traders long, it's more likely to go down. The sharks are hungry and it's feeding time!!
Attached Image (click to enlarge)
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  • #8,263
  • Dec 28, 2018 3:24pm Dec 28, 2018 3:24pm
Quoting jmtini
{quote} Absolutely agree I'm trying a small one. With nearly 90% of traders long, it's more likely to go down. The sharks are hungry and it's feeding time!! {image}
You've got to love the way they work - now they bring the price down again to knock out those who open buy trades - nice little bear trap. I took a few pips on a couple of the false dawns but wait until next week - hopefully get a bit more volume

Sorry I made the big mistake of not moving up to H1 once the trend weakened - H1 looks a whole lot better of course
Attached Image (click to enlarge)
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  • #8,264
  • Dec 28, 2018 11:37pm Dec 28, 2018 11:37pm
Quoting jmtini
{quote} Sorry I made the big mistake of not moving up to H1 once the trend weakened - H1 looks a whole lot better of course {image}
eurjpy is reacting better in a way.
Attached Image (click to enlarge)
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ITB - Seeing Orderliness amongst 'Randomness'
  • #8,265
  • Edited Dec 30, 2018 7:13am Dec 29, 2018 7:24am | Edited Dec 30, 2018 7:13am
Quoting Inthebox
{quote} eurjpy is reacting better in a way. {image}
Yes I do think you're right but it only became more apparent in the afternoon session which I missed as usual

Both of course depend on JPY strength which tends to be either very strong or very weak - I suppose that's good in a way!

Looking at GBPAUD, really were some great buying opportunities in the last 10 days. I do think that problem with many of us is that we're trying to watch too many pairs. Some time ago I got some advice from a very experienced and successful trader to only concentrate on one trading pair. A pair like GBPAUD can yield many hundreds of pips in a month so one wonders if that is not actually a very good idea? Perhaps 3 pairs as a maximum - more then that I think is quite impossible to do justice to and that's why we (well at least me!) are missing nice opportunities when they occur. It's much more difficult to enter when a move is under way so entering a trade at the right moment is vitally important.
  • #8,266
  • Dec 30, 2018 3:13am Dec 30, 2018 3:13am
Looking at the daily time frame, we are holding below SnR , we just had a LL from the overall trend and we're in a pullback phase.
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If we take a look on weekly timeframe , there is a strong demand at left from where we're reacting for the very first time and we had a very strong sharp reversal from that demand.
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Even though we're in sellers territory but because of this reason that every one is looking to sell from daily (because it is holding below SnR ) and we have a very nice demand on weekly time frame (which is our big boy time frame) AND we had a strong sharp reversal from that demand I'm expecting that we'll go to test the resistance above and then we'll come to same support line to test it and then GU will start to make Higher high sequence.
Attached Image (click to enlarge)
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Once we'll make a HH then I'll wait for a pullback towards that same resistance which we have to test, then I'll be interested in taking a long.

Right now, I can't sell GU because this pair is really overextended and we need some buyers.
  • #8,267
  • Dec 31, 2018 3:02am Dec 31, 2018 3:02am
60 pips in 45 mins if you got up early this morning (Europe)!

Missed it of course
  • #8,268
  • Dec 31, 2018 5:46am Dec 31, 2018 5:46am
No one around this morning? Actually been a great morning with some nice opportunities off dynamic resistance/support zones

Looking at GBPAUD weekly chart no doubt now that we'll be testing 1.8500 resistance area sometime in the next week or two. Just a matter of finding nice place to enter long
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDWeekly.png Size: 56 KB
  • #8,269
  • Dec 31, 2018 5:50am Dec 31, 2018 5:50am
EURJPY

Downtrend looking very solid now and set to continue over the next dew days IMHO

Again, just best to wait for minor retracement to go short
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15.png Size: 39 KB
  • #8,270
  • Dec 31, 2018 6:26am Dec 31, 2018 6:26am
Quoting jmtini
EURJPY Downtrend looking very solid now and set to continue over the next dew days IMHO Again, just best to wait for minor retracement to go short {image}
I missed this ... didn't think there would be much opportunity, given it is new year's eve.

Happy New Year to everyone here . Hope we get more green pips in 2019!
  • #8,271
  • Dec 31, 2018 6:58am Dec 31, 2018 6:58am
Quoting jmtini
No one around this morning? Actually been a great morning with some nice opportunities off dynamic resistance/support zones Looking at GBPAUD weekly chart no doubt now that we'll be testing 1.8500 resistance area sometime in the next week or two. Just a matter of finding nice place to enter long {image}
last few weeks doing passive trading in higher time frame. just holding and see. maybe active again next week.
ITB - Seeing Orderliness amongst 'Randomness'
  • #8,272
  • Dec 31, 2018 7:50am Dec 31, 2018 7:50am
Quoting Inthebox
my thinking of the other perspective of using support resistance trend line. cadjpy is down trend so looking to sell. m30 broke trend line but on retrace not able to break up resistance. lower high lower low formed. lower time frame double top sell. tp at support or the next support. {image}
guessed it was an up day for my sells. however the trend and resistance prevail.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #8,273
  • Dec 31, 2018 8:45am Dec 31, 2018 8:45am
happy new year from sydney
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ITB - Seeing Orderliness amongst 'Randomness'
  • #8,274
  • Dec 31, 2018 11:12am Dec 31, 2018 11:12am
Happy new year folks, see you in 2019!
  • #8,275
  • Dec 31, 2018 11:24am Dec 31, 2018 11:24am
Happy new year. Cheerio to 2018
It's in fear when people show what they truly value.
  • #8,276
  • Dec 31, 2018 1:52pm Dec 31, 2018 1:52pm
Sorry I was away earlier

Thank you all

Have a feeling ToP threaders are going to have a fantastic 2019!!
  • #8,277
  • Jan 1, 2019 6:36am Jan 1, 2019 6:36am
Just a quick post

Interesting reading!:

https://www.dailyfx.com/forex/market...djpy-yell.html
https://www.dailyfx.com/forex/market...y-stanley.html

"initial targets upon a re-test of the 120.00 psychological level. Secondary targets can be cast to 115.50, with tertiary targets set to a re-test of 110.00"
  • #8,278
  • Jan 1, 2019 11:34pm Jan 1, 2019 11:34pm
Quoting Inthebox
{quote} eurjpy is reacting better in a way. {image}
tp ej h4 sell.
impulse down. abc retracement. entry below 2nd level resistance and trend line.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #8,279
  • Jan 2, 2019 1:07am Jan 2, 2019 1:07am
for 2019, are you willing to take the challenge
to trade in simplicity, all you need is
some lines, both horizontal and slanting,
higher high higher low,
entry on retracement,
and your expectancy of profit and loss in the time frame that you are trading in.
ITB - Seeing Orderliness amongst 'Randomness'
  • #8,280
  • Jan 2, 2019 1:56am Jan 2, 2019 1:56am
i took the sell before i went on vacation in dec last year.
tp uj d1 sell.
price broke the trend line but had gone into a range.
lower highs were formed and some kind of lower low, not that clear.
price broke the triangle and entries were on the retracement.
though i would prefer entries on retracement to 2nd level resistance but i did not have the time.
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ITB - Seeing Orderliness amongst 'Randomness'
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