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EURUSD only

  • #124,921
  • Jan 25, 2021 9:48am Jan 25, 2021 9:48am
This 4 hour candle has already made a 31 pip low
  • #124,922
  • Jan 25, 2021 10:11am Jan 25, 2021 10:11am
Hi,
pending long at 1,2110... tp @ 216x

Best
Chriss
  • #124,923
  • Jan 25, 2021 10:38am Jan 25, 2021 10:38am
We are nearing 1.2137 hourly resistance area.. Get ready for short opportunities..

Stay Green
Focus only on what truly matters!
  • #124,924
  • Jan 25, 2021 10:40am Jan 25, 2021 10:40am
Incase you wondering what made DXY get stalled.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (311).png Size: 321 KB
  • #124,925
  • Jan 25, 2021 10:43am Jan 25, 2021 10:43am
I have a short order ready at 1.214 , but that image of the DXY looks like a potential head and shoulders and we also just bounced off the fib for euro. From my experience it's rare that these fib levels actually hold, usually just baits people to go long but this one is kinda suspicious since it hovered below the level I wanted to buy for so long, could be an accumulation for long.

My bias is still bullish for the next few days but I am expecting 1 more bearish correction before ending the day bullish, I will be shorting at 1.214 target 1.21019 where I will switch to long if it hits. Otherwise if price breaks above 1.215 , I will look for a long entry again.
Attached Image (click to enlarge)
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  • #124,926
  • Jan 25, 2021 10:47am Jan 25, 2021 10:47am
Quoting lucky1359
This 4 hour candle has already made a 31 pip low
4 Hour Candle now only 11 Pip low from Open after 1 Hour

20 Pips recovered - nice one.

Have seen many times 4 hour candle retraces back 50 % from Low
  • #124,927
  • Jan 25, 2021 10:54am Jan 25, 2021 10:54am
7 more minutes until H1 candle close.. If close happens below 1.2137 this level will become the nearest, most current SELL level.. If candle closes above this level we should delay any sell plans..

Stay Green
Focus only on what truly matters!
  • #124,928
  • Jan 25, 2021 10:57am Jan 25, 2021 10:57am
Quoting Ata-Turkoglu
7 more minutes until H1 candle close.. If close happens below 1.2137 this level will become the nearest, most current SELL level.. If candle closes above this level we should delay any sell plans.. Stay Green
How are you coming up with 1.2137? the recent low before it broke was 1.214 which is why im waiting until there for a basic, but curious to know how you derived your 1-2 hours ago.
  • #124,929
  • Jan 25, 2021 10:57am Jan 25, 2021 10:57am
Quoting Traderview
Incase you wondering what made DXY get stalled. {image}
Wow Very Nice.

Two People - Two Different Approaches but End result the same. Good Great

Attached Image (click to enlarge)
Click to Enlarge Name: dd5bb9693640d779e7860772429dbaf2.png Size: 108 KB

Thanks & Regards
  • #124,930
  • Jan 25, 2021 10:59am Jan 25, 2021 10:59am
This is the 5 min chart and the 61.8% retracement off the recent push up, it couldn't close below on the 5 min. A bit scary but I think it'll break
Attached Image (click to enlarge)
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  • #124,931
  • Jan 25, 2021 11:01am Jan 25, 2021 11:01am
Quoting Kyuu
{quote} How are you coming up with 1.2137? the recent low before it broke was 1.214 which is why im waiting until there for a basic, but curious to know how you derived your 1-2 hours ago.
I have the same resistance.. just scroll back on your chart it's reacted there several times over the past couple trading days.
  • #124,932
  • Jan 25, 2021 11:01am Jan 25, 2021 11:01am
Just sold 1.2139.. Stops must go a little above 1.2155..

Stay Green
Focus only on what truly matters!
  • #124,933
  • Jan 25, 2021 11:02am Jan 25, 2021 11:02am
Short has been activated, let's see what happens now.
  • #124,934
  • Jan 25, 2021 11:03am Jan 25, 2021 11:03am
... https://www.forexfactory.com/thread/...2#post13372892
=====================
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4 pn III.png Size: 56 KB
  • #124,935
  • Jan 25, 2021 11:04am Jan 25, 2021 11:04am
Quoting Kyuu
{quote} How are you coming up with 1.2137? the recent low before it broke was 1.214 which is why im waiting until there for a basic, but curious to know how you derived your 1-2 hours ago.
My system tells me so..

Stay Green
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H1-Status-Update.png Size: 28 KB
Focus only on what truly matters!
  • #124,936
  • Jan 25, 2021 11:07am Jan 25, 2021 11:07am
Yes I figured, is that a system you've developed ? We have completely different strategies but sometimes our numbers come exactly the same which is interesting. my short got triggered at 1.21391 , same entry as you haha but i think ill get stopped here , my SL is alot shorter but I will re-enter short at 1.215 and if that breaks by even 3-4 pips, then for me longs win.
  • #124,937
  • Jan 25, 2021 11:12am Jan 25, 2021 11:12am
Quoting lucky1359
{quote} Wow Very Nice. Two People - Two Different Approaches but End result the same. Good Great {image} Thanks & Regards
PS. Too many indicators.
  • #124,938
  • Jan 25, 2021 11:12am Jan 25, 2021 11:12am
comeon bears where you at
  • #124,939
  • Jan 25, 2021 11:14am Jan 25, 2021 11:14am
No such thing as too many indicators, as long as you understand that indicators are just math formulas from past data and you incorporate certain indicators into your strategy with precision, you will succeed. It's only when you become wishy-washy and change your strategy based on random pattern of indicators alligning is when you become inconsistent and lose.

But that's assuming you have a winning strategy to begin with
  • #124,940
  • Jan 25, 2021 11:15am Jan 25, 2021 11:15am
Based on a moving average strategy I developed some time ago, next sell area is at 1.21430
Risk comes from not knowing what to do
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