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  • #123,741
  • Jan 8, 2021 1:49pm Jan 8, 2021 1:49pm
Quoting suthmo
This is classic channeling in either of the two wave principles. Price had undershoot of the upper channel over shoot lower channel double dip wave 6 on 261 BUY BUY BUY. Slap and ending diagonal on it for good measure. {image} {image}
hey suthmo, can you please elaborate this a bit further? what is exactly classic in the move we saw and what is the second picture telling us? Many thanks!
Another day, another dollar.
  • #123,742
  • Jan 8, 2021 2:10pm Jan 8, 2021 2:10pm
Dollar on a roll even with the negative nfp why is dat 8/01/2021
  • #123,743
  • Jan 8, 2021 2:12pm Jan 8, 2021 2:12pm
Quoting suthmo
{quote}That's right.
Would love to see week close above 2240
  • #123,744
  • Jan 8, 2021 2:19pm Jan 8, 2021 2:19pm
Quoting suthmo
That's right.
I am also not sure about a down "trend". On D1 everything is still as it was for a loooooong time (since beginning of November):
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Touched the lower TL, came back in. Just as expected. Looked more dramatic than it was, over the day.
  • #123,745
  • Jan 8, 2021 2:33pm Jan 8, 2021 2:33pm
Quoting ursinho4711
{quote} I am also not sure about a down "trend". On D1 everything is still as it was for a loooooong time (since beginning of November): {image} Touched the lower TL, came back in. Just as expected. Looked more dramatic than it was, over the day.
simply watching the BB today shows that we are again testing the middle band since the election breakout. a solid close below the middle has yet to happen, today was a good try. So maybe a close below 2220-2210 could give some indication for next week.

The move was rather dramatic so to say on the 4h time frame. we broke the 4h cloud in ichimoku. if we close also below here could say something more than a bottom bounce?!?
Attached Image(s) (click to enlarge)
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  • #123,746
  • Jan 8, 2021 3:05pm Jan 8, 2021 3:05pm
Today was a bit stressed for me, couldn't focus on trading due to some issues , anyways my sl at +1 was taken out making it a no-trade day for me.

Back to business

I have 1.22070 at the most important level for next week. It seems we will have a bullish week next week so be careful with your shorts. Notice the way weekly candles are been printed (bullish, bearish, bullish, bearish... It's time for bullish).

Also another thing to note is that this current monthly candle took out the highs of the previous month so it still a matter of buying dips(it's just looking for the low and then the up trend continues )

All the same the past three weeks have been gracious to me , to God be the glory
Risk comes from not knowing what to do
  • #123,747
  • Edited 3:57pm Jan 8, 2021 3:24pm | Edited 3:57pm
Quoting nic9man
{quote} hey suthmo, can you please elaborate this a bit further? what is exactly classic in the move we saw and what is the second picture telling us? Many thanks!
The markets are ruled by the law of Wave Principle. Wave principle forms a catalog of price patterns that dominate market waves. Wave Principle outlines the study of channels in which is illustrated this classic chart formation seen on Eur/Usd today. The current eur/usd chart is a textbook example of how channels form first illustrated in Elliott Wave Principle by Ralph Nelson Elliot almost 100 years ago. The second picture highlights how waves form diagonal triangles that frequently occur at the termination point of waves signalling imminent reversal.
Founder of Sutherland Wave Principle
  • #123,748
  • Jan 8, 2021 3:57pm Jan 8, 2021 3:57pm
Quoting suthmo
The markets are ruled by the law of Wave Principle
Just to support your statement, the beauty of a fourier analysis on todays M5:
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  • #123,749
  • Jan 8, 2021 4:12pm Jan 8, 2021 4:12pm
Quoting ursinho4711
{quote} Just to support your statement, the beauty of a fourier analysis on todays M5: {image}
It seems the channel support is there. It's going back up wave 1 fully formed put to bed in wave 2 I'm guessing it will open a little lower around 1.2205.
Founder of Sutherland Wave Principle
  • #123,750
  • Jan 8, 2021 5:01pm Jan 8, 2021 5:01pm
Quoting suthmo
{quote} The markets are ruled by the law of Wave Principle. Wave principle forms a catalog of price patterns that dominate market waves. Wave Principle outlines the study of channels in which is illustrated this classic chart formation seen on Eur/Usd today. The current eur/usd chart is a textbook example of how channels form first illustrated in Elliott Wave Principle by Ralph Nelson Elliot almost 100 years ago. The second picture highlights how waves form diagonal triangles that frequently occur at the termination point of waves signalling imminent...
How about this ending diagonal pattern?
Attached Image (click to enlarge)
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  • #123,751
  • Jan 8, 2021 6:40pm Jan 8, 2021 6:40pm
Quoting shahab8b
{quote} How about this ending diagonal pattern? {image}
It's nice but it's based on 100 year old system that's missing two waves haha.
Founder of Sutherland Wave Principle
  • #123,752
  • Jan 8, 2021 11:56pm Jan 8, 2021 11:56pm
Quoting Wavegarrick
{quote} Hi Hans. 1.22000 should be a safe target but I believe 1.21500 could be reached within this short cycle or correction. Cheers.
Sir
Perfect analysis. What we can expect for next week> Bearish or bullish? Support and resistance according to you?
Thanks
  • #123,753
  • Jan 9, 2021 1:31am Jan 9, 2021 1:31am
My plan for next week
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  • #123,754
  • Jan 9, 2021 2:18am Jan 9, 2021 2:18am
freeforexsignals
@freefor02273001
On this page I will share my buy and sell orders in the euro / usd pair. These orders are executed in my real account.
Se unió en enero de 2021
Attached Image
  • #123,755
  • Jan 9, 2021 3:11am Jan 9, 2021 3:11am
We might see 1.2107 level as a weekly retracement.
  • #123,756
  • Jan 9, 2021 8:17am Jan 9, 2021 8:17am
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  • #123,757
  • Jan 10, 2021 3:57am Jan 10, 2021 3:57am
Quoting Wavegarrick
{quote} Managed to get some nice sell trades in today. Right now I have perfect confirmation for a sell trade and have thrown in one more with a 25 pip s/loss. Have a great weekend Guys. Cheers. {image}
Hi Guys,
This is what I would be looking out for next week.
My future weekly pivot (magenta/ purple line) at 1.22532 ish. Price tends to retrace to this. I will carefully monitor price here for possible rejection and move back down. If price overshoots my weekly pivot we could have a possible up week towards my weekly res 1 at 1.23127 and also to form the right shoulder of a head and shoulders pattern. I would not be surprised if this happens to take out all current shorts before the real drop. A break above 1.23127 will put bulls in the picture and a possible move higher.
Target projections for next week and also to form an AB=CD pattern are 1.21500 or 1.21000 depending where price turns and if my analysis is correct.
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From a yearly perspective, I have inserted levels to watch out for and that is if we have a decent correction or swing reversal.
The 50% fib retrace (white horizontal line) of the 2-month up move at 1.19754 is a decent level to look for a target if you are in shorts from a short to medium-term perspective.
Ultimately my yearly pivot at 1.1721 and also the 38.2% fib retrace of last year's major up move. As a pivot trader, I like to see these levels as they tend to be tested.
Lastly my 50% fib retrace of the yearly up move at 1.15019. Nothing is impossible in Forex.
Anyway, Guys, these are just levels and if broken could turn into resistance or ultimately support levels for the major trend which is up. Do your own due diligence and trade carefully.
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All the best for the new year.
Cheers.
Trade to trade another day
  • #123,758
  • Jan 10, 2021 4:00am Jan 10, 2021 4:00am
Quoting never-settle
{quote} Sir Perfect analysis. What we can expect for next week> Bearish or bullish? Support and resistance according to you? Thanks
Hi NS,
Thanks and I trust I have answered your questions in the post above.
Cheers Friend.
Trade to trade another day
  • #123,759
  • Jan 10, 2021 10:42am Jan 10, 2021 10:42am
Quoting Wavegarrick
{quote} Hi Guys, This is what I would be looking out for next week. My future weekly pivot (magenta/ purple line) at 1.22532 ish. Price tends to retrace to this. I will carefully monitor price here for possible rejection and move back down. If price overshoots my weekly pivot we could have a possible up week towards my weekly res 1 at 1.23127 and also to form the right shoulder of a head and shoulders pattern. I would not be surprised if this happens to take out all current shorts before the real drop. A break above 1.23127 will put bulls in the...
Thank you and Happy New Year! S~
  • #123,760
  • Jan 10, 2021 4:07pm Jan 10, 2021 4:07pm
Happy new week, I hope this week will be gracious and successful to us all.

I have a buy limit @ 1.22063
Sl 50 pips
Tp 50 pips
Risk comes from not knowing what to do
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