{quote} Super checked. F-l-a-w-l-e-s-s double top in GBPUSD. => momentum leg to 1.236x in play, with ntermediate taget in the lows of 1.25xx. {image}
Swing Trading only - All Markets
{quote} Closing the day above 1.297x in GBPUSD will kill & postpone the chances for the momentum leg down as it will hint further retrace to 1.306x and 1.317x
and completely unveiled today in GBPUSDWhat do you think about shroting lendbtc ? Sl above yesteday candle, TP at recent lows. Weekly this is in an uptrnend but D1 downtrend and pullback, near D1 resistance trendline and they might want to wash weekly stops still. {image}
{quote} 1.306x
{quote} Closing the day above 1.297x in GBPUSD will kill & postpone the chances for the momentum leg down as it will hint further retrace to 1.306x and 1.317x
Sell GBPJPY @ 137.6x TP1 135.9x TP2 134.9x TP3 133.6x TP4 131.1x STP 138.9 => Basically trade is calling end of the retrace in GBPJPY and a new swing down => Cross currently stalling at last reversal/major break down point => Min r:r = 1.3 : 1.7
from 137.6x in GBPJPY.+ 170 pips
Keeping the remaining for the next targets and trailing STP @ 137.9x now
Max drawdown = - 10 pips
Max drawup = + 190 pips
Realized PnL = + 170 pips @ TP1
Cherry on Top : ST Bottom Tentative @ 135.7x
unveiled to the tick
lol GBPUSD how dare you ...
and today again. 1.306x high of the day.
it's the same pattern as last week :
lost 1.297x => direct flow to 1.306x
1.297x is the flip ...
What are the odds we close the day at 1.297x ?
In any case, paradise for scalping but that's no direction swing wise ...
{quote} 1.306x
it's the same pattern as last week :
{quote} Closing the day above 1.297x in GBPUSD will kill & postpone the chances for the momentum leg down as it will hint further retrace to 1.306x and 1.317x
1.297x is the flip ...
What are the odds we close the day at 1.297x ?
In any case, paradise for scalping but that's no direction swing wise ...
- #310
- Oct 14, 2020 10:06am Oct 14, 2020 10:06am
{quote} First target was cleared @ 135.9x
A simple retrace to last breakdown point @ 137.2x after clearing/testing feeble/unconfirmed bottom @ 135.7x, and down we went ... A pure TA move.
Only question is which hands sold that 137.2x ? Scalpers ? Well, that's guaranteed as it's a break down point. But were there also Swingers adding/reloading ? We need them to clear the next targets down ...
Quick reminder, FA wise :
=> UK set to trade under WTO rules with EU (and a large part of the world as EU was a proxy for numerous trade deals) in 10 weeks
=> Potential coup d'état in a few weeks in the US (best case being uncertainty)
=> further restrictions coming in western world to avoid war conditions in hospitals
FA wise, the called swing down is a no brainer (and so far TA is well aligned) ...
{quote} First target was cleared @ 135.9x
{quote} Meanwhile in ongoing GBPJPY swing ... A simple retrace to last breakdown point @ 137.2x after clearing/testing feeble/unconfirmed bottom @ 135.7x, and down we went ... A pure TA move ...
Meanwhile in EURUSD ...
Map's update from last 3rd of October :
12 days later, not a single line to add. Swing trading
and 1.182x capped the flow ...
regarding the trade, sadely :
empty handed here after the failure to clear 1.171x on the first attempt for a few ticks ... No regret as, MM wise, it was the right thing to do after the retrace to BE.
1.169x last hurdle before 1.162x as old chart shows.
Below 1.159x (H4), 1.155x (D1), 1.149x (W1) & 1.146x (D1).
Regarding EURUSD D1 Map ...
12 days later, not a single line to add. Swing trading
{quote} Limit Sell EURUSD @ 1.180x TP1 1.171x TP2 1.162x TP3 1.155x TP4 1.129x STP 1.189x last break down point is @ 1.182x but I want to be filled so loose entry TP1, TP2 & TP3 well in the range FA & TA wise TP4 out of scope but related to DT's health Min r:r = 1:1
regarding the trade, sadely :
{quote} Failed to clear TP1 1.171x by a few pips (low 1.1725) and now back at entry point 1.180x. No swing, that's just pure chop. Highs of 1.18xx / lows of 1.19xx look as much exposed as TP1 now. Clearing shorts at BE here. Max drawdown : 0 pip Max drawup : + 80 pips Realized PnL : 0 pip
1.169x last hurdle before 1.162x as old chart shows.
Below 1.159x (H4), 1.155x (D1), 1.149x (W1) & 1.146x (D1).
{quote} First target was cleared @ 135.9x
), leaving the low of the day in GBPJPY @ ................ 135.7x level unveiled again and more than ever now, even the no-clue-red-flagged-FF-traders have it meaning ............................................................. ?
- #315
- Oct 16, 2020 8:32am Oct 16, 2020 8:32am
- | Joined Mar 2014 | Status: Trader | 1,045 Posts | Online Now
Meanwhile in EURUSD ... {quote} Map's update from last 3rd of October : 12 days later, not a single line to add. Swing trading
are you still in the trade?
thanks
great charts
- #316
- Oct 16, 2020 10:25am Oct 16, 2020 10:25am
{quote} hi, im currently also in a short from around 1.18100, i've been in this trade for couple weeks now with a target at 1.16600, but i'm feeling less confident, as its the longest i've ever been in a trade, i'm hoping for a break of 1.17 again next week are you still in the trade? thanks great charts
partial TP @ 1.171x was a must to guarantee a reward. For the rest, if I were you, I would let it sail to 1.162x, 1.155x & 1.149x.
... 1.169x last hurdle before 1.162x as old chart shows. Below 1.159x (H4), 1.155x (D1), 1.149x (W1) & 1.146x (D1).
- #317
- Oct 16, 2020 10:37am Oct 16, 2020 10:37am
- | Joined Mar 2014 | Status: Trader | 1,045 Posts | Online Now
- #318
- Edited 10:23am Oct 19, 2020 9:50am | Edited 10:23am
Meanwhile in EURUSD [...] 1.169x last hurdle before 1.162x as old chart shows. Below 1.159x (H4), 1.155x (D1), 1.149x (W1) & 1.146x (D1).
in EURUSD, 1.169x was unveiled to the tick : low of thursday, low of friday ... It has triggered inner retrace but we have a new D1 Top candidate @ 1.178x that is capping the flow so far (cf. chart), meaning very insignificant retrace, price action wise : bears still have the upper hand.Area is ideal to load shorts for those not loaded from the top as new LL expectations are still valid :
Sell EURUSD 1.178x TP1 1.171x TP2 1.162x TP3 1.155x TP4 1.150x STP 1.185x
Min r:r = 70:70
Max r:r = 70 : 280
- #319
- Oct 19, 2020 10:32am Oct 19, 2020 10:32am
Meanwhile in the Pound sterling ...
When all semantic and rhetoric efforts from David Frost and Michel Barnier are dashed in one fell swoop :
Macron last friday: " Les discussions sur le Brexit achoppent sur tout"
Period.
Remaining time = 2 months & 2 weeks before the massacre & the rewriting of the GBP's wikipedia page
TA wise
GBPJPY
Nothing to say. Pretty much the same price action as EURUSD (cf. previous post) : bears still have the upper hand. Ongoing trade still in play.
GBPUSD
lol @ GBPUSD ending the day at 1.297x ... Anyone still doubt 1.297x is the flip ?
When all semantic and rhetoric efforts from David Frost and Michel Barnier are dashed in one fell swoop :
Macron last friday: " Les discussions sur le Brexit achoppent sur tout"
Period.
Remaining time = 2 months & 2 weeks before the massacre & the rewriting of the GBP's wikipedia page
TA wise
GBPJPY
{quote} First target was cleared @ 135.9x
GBPUSD
{quote} Closing the day above 1.297x in GBPUSD will kill & postpone the chances for the momentum leg down as it will hint further retrace to 1.306x and 1.317x
{quote} 1.297x unveiled as well right now in GBPUSD : {quote} => 1.297x same rain maker as last friday for the close ...
{quote} To which level GBPUSD has retraced today ? 1.297x to the tick .... It must be a coincidence ... 1.297x aka the flip
for those following, lol @ the intraday retrace to papa flip 1.297x in GBPUSD
{quote} Last thursday's call super checked
- 70 pips
Max drawup = +20 pips
A clear bad call.
No new D1 Top, D1 Map remains the same :
Regarding EURUSD D1 Map: D1 Map : {image} D1 Bottom 1.122x <--- D1 Flip 1.162x --> D1 Top 1.188x
Tracking now what's price is going to do above 1.188x, especially tracking a failure to break up 1.191x to try a new swing down as so far bulls haven't reversed downtrend in this TF
