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  • #125,741
  • Feb 2, 2021 10:33am Feb 2, 2021 10:33am
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The Average Discount Everything
  • #125,742
  • Feb 2, 2021 10:52am Feb 2, 2021 10:52am
I'd be extremely surprised to not see any pullback here, it's not looking that good for bulls but I think it looks way worse for bears. Each bear leg extension has been shortening and we've been consolidating in this area for a long time now (1.2020 - 1.2030) which to me is a sign of accumulation.

I think it should go 1.19822 but am expecting a pull back of some sort. I don't think it will simply drop straight and reward everyone who entered late. Perhaps once last bear leg before the reversal, but that 1 leg might go straight to 1.19822 haha, if I weren't already holding my long I'd def be longing now. I've just been holding like a novice
  • #125,743
  • Feb 2, 2021 10:53am Feb 2, 2021 10:53am
Not even London Close recovery worked today. This is something strange...
(normally in this scenario, when a candle closes well in the green box at LC, it recovers.

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  • #125,744
  • Feb 2, 2021 10:59am Feb 2, 2021 10:59am
Quoting ursinho4711
Not even London Close recovery worked today. This is something strange... (normally in this scenario, when a candle closes well in the green box at LC, it recovers. {image}
Where do you draw the fib? 9am-4pm?
  • #125,745
  • Feb 2, 2021 11:00am Feb 2, 2021 11:00am
Damn they're still pushing price lower , I'm gonna give up my long if price breaks 1.2015
  • #125,746
  • Feb 2, 2021 11:08am Feb 2, 2021 11:08am
1.2021 is support now.
  • #125,747
  • Feb 2, 2021 11:29am Feb 2, 2021 11:29am
Quoting mysterio
Where do you draw the fib? 9am-4pm?
London time: 22:00 -- 16:00
  • #125,748
  • Feb 2, 2021 11:34am Feb 2, 2021 11:34am
Quoting Endoephemera
{quote} The up retr. went higher than I expected and I exited my short at profit. So it might go higher. Perhaps to close the gap to from were it broke, 1.2063 @ I remain completely convinced the bottom has not been reached and will reload short >1.2048 if given a chance. Spread sells up to 3-4% of account. Even if I'm wrong I should recover without losing (or I would if I were sober ) PS. +3.8% on account and 80% ops in profit, today. Edit. I see price back down to 1.2035 @ I am not going short there and will not regret it if it were to...
This down is without me. A little short at 1.2047 I cut very early, didn't believe in it. Some upside PiPs in the later retr. +4.2% day with 83% ops in profit.

No going short now. Congrats to all the shorts from above 1.2046, the last leg up retr. I see some more room downside, maybe tomorrow [the bottom].
Practitioner of the cryptic trading arts
  • #125,749
  • Feb 2, 2021 11:54am Feb 2, 2021 11:54am
Price lying smack bang on top of a support line.
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Charts don't drive price, market conditions drive price...
  • #125,750
  • Feb 2, 2021 11:57am Feb 2, 2021 11:57am
Quoting Wavegarrick
{quote} This gradual decline makes me feel that Bears have more intent. I will look at selling retraces, Cheers. {image}
Usdx has been a guiding light in these unclear times with EU. I suspect a test of the round number at 92.00.
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Eu crunching along
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I wish you green pips.
Cheers
Trade to trade another day
  • #125,751
  • Feb 2, 2021 12:07pm Feb 2, 2021 12:07pm
Quoting Wavegarrick
{quote} Usdx has been a guiding light in these unclear times with EU. I suspect a test of the round number at 92.00. {image}Eu crunching along {image}I wish you green pips. Cheers
and there's the Cypher
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Charts don't drive price, market conditions drive price...
  • #125,752
  • Feb 2, 2021 12:08pm Feb 2, 2021 12:08pm
Following break of last week's upside. I stood on the sidelines just watched the move down. Likelihood of pullback to 1.2050-80 with another at 1.2100 area it's just a waiting game now. EUR news tomorrow and US nonfarm will bring more volatility. Might just remain on the sidelines this week see how deep this rabbit hole goes unless I see something less risky.
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Stop thinking like a retail trader
Forextrinitrader3.0 Profit This Month: na
  • #125,753
  • Feb 2, 2021 12:19pm Feb 2, 2021 12:19pm
Quoting Guztro
{quote} and there's the Cypher {image}
I don't trade harmonic patterns but thanks for your feedback. I will closely monitor and keep you updated.
Cheers.
Trade to trade another day
  • #125,754
  • Feb 2, 2021 12:22pm Feb 2, 2021 12:22pm
Quoting Wavegarrick
{quote} I don't trade harmonic patterns but thanks for your feedback. I will closely monitor and keep you updated. Cheers.
All good. My strategy is Harmonic Elliott Wave. Interesting that both structures started on 01 December, and took exactly 2 months to play out.

Green pips to you.
Guz
Charts don't drive price, market conditions drive price...
  • #125,755
  • Feb 2, 2021 12:23pm Feb 2, 2021 12:23pm
Best guess for the remainder of the day- not trading this
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  • #125,756
  • Feb 2, 2021 12:47pm Feb 2, 2021 12:47pm
Quoting ursinho4711
Not even London Close recovery worked today. This is something strange... (normally in this scenario, when a candle closes well in the green box at LC, it recovers. {image}
It works. Your post was 7 min before LC. Maybe you have to change your time calculation. London session closed before an hour and 47 min ago.
  • #125,757
  • Feb 2, 2021 1:13pm Feb 2, 2021 1:13pm
Looks like the previous 1 H turning point has nor worked. However The bottom of the daily chart should come most probably on tomorrow around 9EST 4H bar.
  • #125,758
  • Feb 2, 2021 1:20pm Feb 2, 2021 1:20pm
Quoting bigiivan
{quote} It works. Your post was 7 min before LC. Maybe you have to change your time calculation. London session closed before an hour and 47 min ago.
Thanks a lot for your contribution.
In the London Close thread we had endless discussions about this topic.
I take my closing times from here (same as the "inventor" of the strategy):
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I took GMT (at the moment London time) to have the same time base...
  • #125,759
  • Feb 2, 2021 1:37pm Feb 2, 2021 1:37pm
retracement to 204 is possible ?
  • #125,760
  • Feb 2, 2021 1:37pm Feb 2, 2021 1:37pm
Quoting ursinho4711
{quote} Thanks a lot for your contribution. In the London Close thread we had endless discussions about this topic. I take my closing times from here (same as the "inventor" of the strategy): {image} I took GMT (at the moment London time) to have the same time base...
I've got an advice for you: there is a table with a sessions at the bottom on a front page of FF. Look at it, please, all there!
And one more thing: I saw you are live in Germany. London has to close at 18:00 h your local time. (Till the end of March)
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