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Price reaction to major S/R /TLs and entering on LTFs

  • #41
  • Nov 1, 2018 12:28am Nov 1, 2018 12:28am
Quoting mtharwat
{quote} The third lot is trailed below an upward H4 Trend Line (not drawn). With the target, I readjusted it. I measured the current H4 channel and projected it upwards. I put the level at less number of pips just below the gap. If we get a breakout, then it is a good level for the target. If price hits the stop loss, it is still good profit. {image}

Done with the third lot (about 50 pips).

I like this trade of CAd/JPY
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPYH1.png Size: 18 KB
  • #42
  • Nov 1, 2018 12:56am Nov 1, 2018 12:56am
Good analysis.
It should be helpful to many.
  • #43
  • Edited 6:49am Nov 1, 2018 6:38am | Edited 6:49am
Quoting profitkeeper
Good analysis. It should be helpful to many.
Thanks profitkeeper for your post.

I hope it does and encourage others to post their analysis and charts.

BTW, I like your thread about wolf waves. I am going to go through it soon. I was thinking of applying wolf waves to pinpoint my LTF entry and to confirm my overall bias. I have never tried wolf waves before.

regards
  • #44
  • Nov 1, 2018 6:41am Nov 1, 2018 6:41am
If not for GBP interest rate news within an hour, I would have considered going long near the current levels.

On daily we do indeed have very strong bearish candle touching the daily trend line but there is a bounce as well.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPDaily.png Size: 20 KB


On H4 we are are also bouncing from 61.8 fib
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH4.png Size: 25 KB


The divergence on H1 and M15 is strong.

Attached Image (click to enlarge)
Click to Enlarge Name: EURLFXH1.png Size: 20 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPM15.png Size: 24 KB


But again...the news
  • #45
  • Nov 2, 2018 4:17am Nov 2, 2018 4:17am
AUD JPY is very bullish but is now at a major TL Resistance on Daily and Weekly.
will wait and see
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDJPYWeekly.png Size: 16 KB
Click to Enlarge Name: AUDJPYDaily.png Size: 19 KB
  • #46
  • Nov 14, 2018 5:39pm Nov 14, 2018 5:39pm
XAUUSD

Conflicting TFS

On Weekly, Price foud resistance at 38.2 fib. Now it is holding on the TL and is showing bullishness.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDWeekly.png Size: 17 KB



On Daily, we have a bullish triple formation candlestick (Morning Star).

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDDaily.png Size: 18 KB



On H4, there are two scenarios. Either you want to ride the short bullish momentum and buy on corrections to the Support Zone or you dismiss longs and wait for a break south and a retest which will not come soon

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH4.png Size: 14 KB
  • #47
  • Nov 14, 2018 7:00pm Nov 14, 2018 7:00pm
Interesting EURAUD

On weekly we are in bearish trend.

On Daily/H4 watch for breakouts and retest to confirm the bearishness to the 38 fib
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURAUDWeekly.png Size: 26 KB
Click to Enlarge Name: EURAUDDaily.png Size: 27 KB
  • #48
  • Jan 23, 2020 3:17am Jan 23, 2020 3:17am
Quite educative.


Please come and turn this thread to a trading journal, a lot of people are learning from it.
  • #49
  • Feb 24, 2020 2:23am Feb 24, 2020 2:23am
Where have you been.

Please turn this to a trading journal. It will help a lot people.






Price defined in a simple way
  • #50
  • Mar 5, 2020 5:56am Mar 5, 2020 5:56am
Quoting DON-K
Where have you been. Please turn this to a trading journal. It will help a lot people. Price defined in a simple way
Hi Don-K

Apology for my late reply.

Thank you for your messages and kind words.

The reason I was away for a while was me delving in a couple of things I wanted to learn more about.

---I wanted to get more in creating synthetic charts for each currency by adding them or multiplying or whatever formula. But I could not find what I was looking for yet. No one seemed to understand what I am looking for. It is all about the different math formulas. I tried many but could only find them useful as a secondary confirmation. It is quite a long story.

---I was also trying to find a way to trade lower time frames but they proved (for me at least) to be non-fruitful. I am better with H4, Daily, Weekly. Intraday trading might give some merit on a number of major pairs. It did for me in the past with great success bu using renko and time charts but I could not apply this to all other currencies on same lower time frames.

----I was occupied by converting data from MT4 or tradingview to Excel. This has taken a lot of time from me and contacted many developers. I even opened a thread for it by using API to get historical and instant feed, which then froze on me. I still have not found a solution. I wanted to test some strategies I had in mind.

I should not have gotten overly occupied to forget about this thread.

I will be back soon.

Kind Regards,
  • #51
  • Mar 10, 2020 9:37pm Mar 10, 2020 9:37pm
The market is very unstable because of Corona.

Anyway, I am looking at USDCHF.
Pair is bouncing off weekly support.
H4 has not corrected yet.

H1 might offer something temporarily. A retest of the trend line with bullish breakout may offer a buying opportunity. I am more inclined to wait for H4 correction.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCHF weekly.png Size: 31 KB
Click to Enlarge Name: USDCHF 60.png Size: 31 KB
  • #52
  • Mar 11, 2020 2:21am Mar 11, 2020 2:21am
Quoting mtharwat
The market is very unstable because of Corona. Anyway, I am looking at USDCHF. Pair is bouncing off weekly support. H4 has not corrected yet. H1 might offer something temporarily. A retest of the trend line with bullish breakout may offer a buying opportunity. I am more inclined to wait for H4 correction. {image} {image}
I'm watching that too once the H1 candle closes bullish.



Welcome back mate.
  • #53
  • Mar 11, 2020 2:35am Mar 11, 2020 2:35am
Also watching EURUSD for short continuation if next H1 candle closes bearish[attach]


EURUSDH4.png;3575793[/attach]

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 45 KB
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 47 KB
  • #54
  • Mar 11, 2020 2:49am Mar 11, 2020 2:49am
though we re expecting news on GBP today but lets see how this plays out
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPCADWeekly.png Size: 68 KB
Click to Enlarge Name: GBPCADDaily.png Size: 70 KB
Click to Enlarge Name: GBPCADH1.png Size: 48 KB
  • #55
  • Mar 11, 2020 6:48pm Mar 11, 2020 6:48pm
Quoting DON-K
Also watching EURUSD for short continuation if next H1 candle closes bearish{image} {image}
It may test the previous Daily S/R. Nice call.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Daily.png Size: 35 KB
  • #56
  • Mar 13, 2020 7:13am Mar 13, 2020 7:13am
Quoting mtharwat
The market is very unstable because of Corona. Anyway, I am looking at USDCHF. Pair is bouncing off weekly support. H4 has not corrected yet. H1 might offer something temporary. A retest of the trend line with bullish breakout may offer a buying opportunity. I am more inclined to wait for H4 correction. {image} {image}
Anyone trading nowadays should be extremely cautious or better take a holiday off trading. The USA banned flights from Europe, Italy is locked down, Germany will have 60-70 percent of the population infected, and so on. All stocks have nosedived.

Anyway, I enetred with a very small amount..and it is end of week.

H4 has shown a correction and some PA. I entered based on H1 (attached). Will monitor targets and not necessarily wait for a drop to where the stop loss is.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2020-03-13 at 11.08.51 pm.png Size: 27 KB
  • #57
  • Mar 13, 2020 7:10pm Mar 13, 2020 7:10pm
EURCAD ...

Will watch it this week.

Bouncing off Weekly Resistance after a strong bullish attempt to clear Resistance.

Not enough daily and H4 PA to short. Still finding support at H4 previous gap.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURCAD Weekly.png Size: 42 KB
Click to Enlarge Name: EURCAD H4.png Size: 38 KB
  • #58
  • Mar 13, 2020 7:26pm Mar 13, 2020 7:26pm
GBPNZD...

Watching this week.

I am mentioning this pair for the sake of showing price behaviour when there is no clear sign of the bias (at least for me).

Here, we have a very strong weekly penetration to previous Weekly Resistance which was testing the water and then nosedived to below previous Resistance.

I am neither buying nor selling until the daily candles show me what is next. H4 will not be enough to establish bias. Here we need the one lower time frame from the weekly (daily) to give us a clue not two lower timeframes.

You may think the daily candles are bearish now and there is a possible 200+ pip movement till the nearest sloping up trendline. You may still be right though. It all depends on how much a trader will risk of his capital.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPNZD Weekly.png Size: 46 KB
Click to Enlarge Name: GBPNZD Daily.png Size: 51 KB
Click to Enlarge Name: GBPNZD H4.png Size: 57 KB
  • #59
  • Edited 8:36pm Mar 13, 2020 7:36pm | Edited 8:36pm
NZDCAD

The pair broke a weekly Support.

Waiting for a daily PA or a retest to previous S/R.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZDCAD Weekly.png Size: 42 KB
Click to Enlarge Name: NZDCAD Daily.png Size: 40 KB
  • #60
  • Mar 17, 2020 4:37am Mar 17, 2020 4:37am
GBPCAD

Bounce off Daily Support.

Clearing the H1 range may give a buying opportunity.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPCAD Daily.png Size: 39 KB
Click to Enlarge Name: GBPCAD H1.png Size: 34 KB
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