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So we had this inverse H&S pattern, featured on various news websites. On 4H chart one can see the false break of the neckline and 4HR bearish outside bar. Seems like longs are trapped and eurusd might go lower.
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Quoting corongumet
{quote} Edited: Sell limit @1.21973 SL 50 pips (4 digits) TP 1.16022 (longterm) Disc on.
If price break 1.21249 i will delete it, wait and see
Learn and Learning
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1hr close above 1.2154 is more bullishness to 1.2166 - 1.2177.

Dxy no 1hr closes below 90.17
  • Post #127,265
  • Quote
  • Edited Feb 23, 8:52am Feb 23, 8:34am (34 hr ago) | Edited Feb 23, 8:52am
Quoting JeromePowell
So we had this inverse H&S pattern, featured on various news websites. On 4H chart one can see the false break of the neckline and 4HR bearish outside bar. Seems like longs are trapped and eurusd might go lower. {image}
The larger TF H&S patterns on Euro rarely if ever behave in a 'textbook' way I find, IE break neckline, retest neckline, complete. It's pretty good for an early indication of the ultimate direction but I find you can't get reliable entries from them. This one will eventually come good I think but you've no chance getting a good entry/stoploss on it. On a side note, we're lucky to have Jerome Powell squeezing in an FF post before testifying

Re-entered long on the pivot with stop at BE but I feel it might make another dash down before up. Either that or EU totally tricked me, would not be the first time
Sell EU at 1,2140.
"I feel strong because I am bul..."
Dow
Quoting bigiivan
Sell EU at 1,2140.
IMO, Better wait for the US open or DXY 4hr to close.
  • Post #127,268
  • Quote
  • Edited Feb 23, 9:43am Feb 23, 8:49am (34 hr ago) | Edited Feb 23, 9:43am
Quoting bigiivan
Sell EU at 1,2140.
Any reason why?
If the bears are true, retest of 1.2166 - 1.2174 is inevitable.
Two '' M '' Patterns with variations.
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If any M15 candle closes below 1.2143 I switch to selling.. Otherwise keep buying dips..
Be a seer, not a looker!
Quoting Ata-Turkoglu
If any M15 candle closes below 1.2143 I switch to selling.. Otherwise keep buying dips..
This candle closed below, I've been short but where do you plan on selling? What's your nearest resistance? Also news comes in 15 minutes
Quoting Kyuu
{quote} This candle closed below, I've been short but where do you plan on selling? What's your nearest resistance? Also news comes in 15 minutes
Based on M15, 1.2143 is my current aggressive sell level.. *I don't give a damn about news..
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Be a seer, not a looker!
Quoting Ata-Turkoglu
{quote} Based on M15, 1.2143 is my current aggressive sell level.. *I don't give a damn about news.. {image}
Yeah me neither, but sometimes I get stopped in a correct trade before news because they mess with the market but lately, the market has already accumulated by then and just shoots in the right direction. What's your stop if you get triggered in the trade? Goodluck

Edit: If you sold, I'd assume you are entered now
Quoting mysterio
{quote} Watching DXY retest a 4h TL soon too.
So, this is done, either it's straight bull from here on Euro or I have to rethink !
Quoting mysterio
{quote} So, this is done, either it's straight bull from here on Euro or I have to rethink !
I agree with you but also a potential straight bear with a pullback. Regardless, we should see a powerful move in either direction over the next couple 4 hour candles
Quoting Kyuu
{quote} Yeah me neither, but sometimes I get stopped in a correct trade before news because they mess with the market but lately, the market has already accumulated by then and just shoots in the right direction. What's your stop if you get triggered in the trade? Goodluck Edit: If you sold, I'd assume you are entered now
My mental stop is at 1.2162..
Be a seer, not a looker!
Quoting Kyuu
{quote} I agree with you but also a potential straight bear with a pullback. Regardless, we should see a powerful move in either direction over the next couple 4 hour candles
Yea true. I'm piecing together other parts, like bull wave 3, overall long term trend, H&S, triangle breakout, COT, triangle/fib retrace etc. But yea i'm trading very carefully as the more obvious something seems to me, the more lax I tend to get! The daily supply we're at is the main thing i'm worried about.. going to need a lot of bull power.
Quoting Traderview
Two '' M '' Patterns with variations. {image} {image}
hello dear.
where do you think the short transaction should be taken again?
Quoting Ata-Turkoglu
{quote} My mental stop is at 1.2162..
That's hilarious, that's exactly to the pip where I have my stop for no apparent reason haha. I moved mine up now to 1.2165 just in case
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