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  • #122,481
  • Dec 18, 2020 6:20pm Dec 18, 2020 6:20pm
And this forum is a treaure! I discovered it some weeks ago and i think you guys are very helpful for daily traders. Keep up with the great work!
  • #122,482
  • Dec 19, 2020 1:46am Dec 19, 2020 1:46am
Quoting ursinho4711
It is sometimes scary how things fit. If we just knew before...{image} ******EDIT***** Let us zoom in: {image} Candle 1 marked the high of the trend channel. And it fits EXACTLY between 61.8% and 100% Candle 2 marked the low of the trend channel. And it fits EXACTLY between 0% and 23.6% Candle 3 (the last H1 candle of this week) hit EXACTLY the upper limit of the trend channel. There are more interesting candles to analyze. Looks like the algos did all the work in the evening cause the human (big) traders already head home for christmas...
Exactly, that brings me to this question, what exactly moves this market, because humans can't be this perfect. I think human just provide volume or do they? Is the market self driven based on algorithm? Ata and more experienced traders should please throw more light on this.
P.s this is weekend, so I guess this topic can be tolerated.
Risk comes from not knowing what to do
  • #122,483
  • Edited 5:21am Dec 19, 2020 5:03am | Edited 5:21am
Quoting Austyno
because humans can't be this perfect. I think human just provide volume or do they?
Sure... at least that way the banker can always blame the program for losses ;-)

Playing around with the fibo on different time frames gives you a good idea about the hard floors/ceiling to be expected. Unfortunately there are various "nice" possibilities. My favourite for next week(s) is this one as it fits to the harmonic (Butterfly?) monthly, remember we come to the end of the year...

One possible Fibo on Weekly:
Attached Image

Harmonic on monthly (andvk74: I zoomed in a little bit):
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A small story: when I was studying data processing, on our iniversity we had students for business administration. I made some bucks helping them with maths tests (for me it was simple).
Also I know two programmers who work at banks.
Now the question: who is driving the Ferraris? Hint: not the programmers...
  • #122,484
  • Edited Dec 20, 2020 10:47am Dec 19, 2020 12:15pm | Edited Dec 20, 2020 10:47am
Attached Image (click to enlarge)
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I wonder if this will lead to higher interest rates eventually?

Dec 20 Edit: Another observation for consideration is the relative strength of current bullish rally relative to the previous down leg from the 2018 highs.

So far the current rally comparatively has more than twice the acceleration of the descent. Less than 10 months has engulfed over 80% of previous descent which took 26 months before establishing a new demand support level above the demand support level established at the 2016 lows.
Charts are limited in nature. What is the relative location?
  • #122,485
  • Dec 19, 2020 2:58pm Dec 19, 2020 2:58pm
So, based on the weekly fibo analyzis descibed above, my idea for next week could be something like this (see green oval):
Attached Image (click to enlarge)
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High: 1.24334
Low: 1.22370

But maybe it comes totally different... if I was always right, I would not sit here and post. I would enjoy being at a sunny place doing nothing
  • #122,486
  • Edited Dec 20, 2020 5:13am Dec 19, 2020 2:59pm | Edited Dec 20, 2020 5:13am
One of the ALGOS in progress!!!
Monday we will see the outcome.
It takes time and practice before you can see this things (and MANY others) in the market.
But once you master them - it's all the same every day. Just looks different, but if you know what to look for - it's not that hard to find a setup.
This works on ANY market and ANY timeframe!!!
2 completely different markets but algo is the same!!!
Attached Image(s) (click to enlarge)
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  • #122,487
  • Dec 19, 2020 3:14pm Dec 19, 2020 3:14pm
It all starts with the COT report analysis on the weekend, so we can determine the direction for the next week.
Really good explanation I found here, if anybody is interested.
https://www.babypips.com/learn/forex...rket-sentiment
  • #122,488
  • Dec 19, 2020 3:48pm Dec 19, 2020 3:48pm
Quoting andvk74
One of the ALGOS in progress!!! Monday we will see the outcome. It takes time and practice before you can see this things (and MANY others) in the market. But once you master them - it's all the same every day. Just looks different, but if you know what to look for - it's not that hard to find a setup. This works on ANY market and ANY timeframe!!! {image}
Hey bro, is this Eu? What chart and timeframe is this
Risk comes from not knowing what to do
  • #122,489
  • Edited 4:18am Dec 20, 2020 3:17am | Edited 4:18am
Quoting Austyno
{quote} Hey bro, is this Eu? What chart and timeframe is this
Algos work the same on ANY market and ANY timeframe. This is just an example.
When you practice to analyze the market you should not even look at the timeframe or the instrument. THE CORRECT system works the same everywhere.
It's only the books and other learning material that was written by the same people who created this GAME, ties a specific indicator or a method to a specific market or timeframe to CONFUSE traders and send them in the wrong direction. This is just how I see it.
The main idea is that IT'S MUCH SIMPLER THEN TRADERS TRY TO MAKE IT. IT'S THE SAME AS IF YOU WANT TO HIDE SOMETHING, JUST PUT IT IN PLAIN SIGHT AND NOBODY WILL FIND IT.
  • #122,490
  • Dec 20, 2020 4:28am Dec 20, 2020 4:28am
If I was running this SHOW, this is what I would do on Mon - Tue. And after that start taking this EURO to the upside.
Attached Image (click to enlarge)
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  • #122,491
  • Dec 20, 2020 5:24am Dec 20, 2020 5:24am
Price may pullback to the 1.22
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TMT Scalping System (Best system on FF)
  • #122,492
  • Dec 20, 2020 10:55am Dec 20, 2020 10:55am
Quoting andvk74
One of the ALGOS in progress!!! Monday we will see the outcome. It takes time and practice before you can see this things (and MANY others) in the market. But once you master them - it's all the same every day. Just looks different, but if you know what to look for - it's not that hard to find a setup. This works on ANY market and ANY timeframe!!! 2 completely different markets but algo is the same!!! {image} {image}
Hi, how do you define the "special zone"? Is it when there is a gap between the highest price of candle 1 and the lowest price of candle 3?
Trading is not easy
  • #122,493
  • Dec 20, 2020 1:12pm Dec 20, 2020 1:12pm
Quoting xiaotiao
{quote} Hi, how do you define the "special zone"? Is it when there is a gap between the highest price of candle 1 and the lowest price of candle 3?
You got it, but it's just a small piece of a puzzle. Other things have to FIT together in order to consider it.
  • #122,494
  • Dec 20, 2020 1:13pm Dec 20, 2020 1:13pm
Marked open.
Gap down at the moment 1.2215

Have a great trading week.

  • #122,495
  • Dec 20, 2020 1:48pm Dec 20, 2020 1:48pm
Quoting 3Davy
Marked open. Gap down at the moment 1.2215 Have a great trading week.

yup an interesting gap this weekend. It might have the legs to let the bears in for a bit.
Insane in the Brain..
  • #122,496
  • Dec 20, 2020 4:06pm Dec 20, 2020 4:06pm
During Asia session it will go up without challenging Friday's highs.
In London session it will go lower to 1.22 - 1.2175 then up to new highs.
Practitioner of the cryptic trading arts
  • #122,497
  • Dec 20, 2020 4:35pm Dec 20, 2020 4:35pm
Quoting 3Davy
Marked open. Gap down at the moment 1.2215 Have a great trading week.
Nice one, wow, u can actually see what the market does before we do? We can work with that if you update us regularly
Risk comes from not knowing what to do
  • #122,498
  • Dec 20, 2020 4:43pm Dec 20, 2020 4:43pm
https://www.forexlive.com/news/!/mcc...ement-20201220
MTF PA with indicators = a winning team
  • #122,499
  • Dec 20, 2020 4:45pm Dec 20, 2020 4:45pm
Quoting Austyno
{quote} Nice one, wow, u can actually see what the market does before we do? We can work with that if you update us regularly
www.xe.com
MTF PA with indicators = a winning team
  • #122,500
  • Dec 20, 2020 4:48pm Dec 20, 2020 4:48pm
Quoting 3Davy
Gap down at the moment 1.2215
cmon guys, this is also not coincidence. Looks like the closer we come to holidays, the lazier the human bankers get and just let their programs do the work...
(the trend channel is from last week!)

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