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  • #127,301
  • Feb 23, 2021 7:13pm Feb 23, 2021 7:13pm
Sell limit of yesterday adjusted to 1.21747
Tp 1.21103
Sl 50 pips
Risk comes from not knowing what to do
  • #127,302
  • Feb 23, 2021 8:14pm Feb 23, 2021 8:14pm
EUR/USD turning point on 1H chart which will occur on 2021.02.24
EST in 15 min time frame included.
Attached Image (click to enlarge)
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  • #127,303
  • Feb 23, 2021 9:47pm Feb 23, 2021 9:47pm
Its really bored PA. Now im using Volume. We know Volume not really valid but its can help us to know price direction. In my opinion volume very very low after drop. In this case buyer dont give up. Its just my opinion.
  • #127,304
  • Feb 23, 2021 10:31pm Feb 23, 2021 10:31pm
sell limit 1.2172 with tp 1.2152 is waiting with no sl
Attached Image
Trends have a higher probability of continuing than not.
  • #127,305
  • Feb 23, 2021 11:01pm Feb 23, 2021 11:01pm
Quoting fxsport
{quote} Any reason why?
Sorry for the delay!
My indi say so, I just follow them. Otherwise, there are divergences on H4 and Weekly.

DX, 2H:
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I realize that I haven't got SL and I might wait for a while.
  • #127,306
  • Feb 23, 2021 11:12pm Feb 23, 2021 11:12pm
Touched the TL on 4h, similar bullish bias, lets see if we can break through the 1.216x area that's been a sticking point. If we break through the TL then maybe i'll start looking to sell. Would like to see DXY go down to the 89.9x area
  • #127,307
  • Feb 23, 2021 11:20pm Feb 23, 2021 11:20pm
Quoting mysterio
Touched the TL on 4h, similar bullish bias, lets see if we can break through the 1.216x area that's been a sticking point. If we break through the TL then maybe i'll start looking to sell. Would like to see DXY go down to the 89.9x area
I'm wondering if we'll see the four hour double top... Dunno.
  • #127,308
  • Feb 23, 2021 11:32pm Feb 23, 2021 11:32pm
Quoting mysterio
Touched the TL on 4h, similar bullish bias, lets see if we can break through the 1.216x area that's been a sticking point. If we break through the TL then maybe i'll start looking to sell. Would like to see DXY go down to the 89.9x area
Hey man! I think your analysis is spot on and in sync with mine. Right now it seems SM don't know where to push it, the obvious H&S on H4 and on daily are pointing to buy, but look at dollar index on the daily, that doji is telling that dollar is getting ready to go up. I think there's going to be good move today, the direction is what I don't know
  • #127,309
  • Edited Feb 24, 2021 12:08am Feb 23, 2021 11:43pm | Edited Feb 24, 2021 12:08am
Quoting dele5000
{quote} Hey man! I think your analysis is spot on and in sync with mine. Right now it seems SM don't know where to push it, the obvious H&S on H4 and on daily are pointing to buy, but look at dollar index on the daily, that doji is telling that dollar is getting ready to go up. I think there's going to be good move today, the direction is what I don't know
Yea, I'm long but stops at BE- ultimately I've no idea where it's going but I just can't see a lot of bearish clues and i'm hunting

The main thing is we're in a weekly supply in DXY, look back to April 2018. This area was the source of a huge bullish move back then which broke a huge multi year TL. The area directly overhead on Euro is a big daily zone too. Once/if we've broken this 1.216x area I can breathe a bit

Yesterday it retraced to 0.5% of the last move up and hasn't been back there. This morning the bounce was on the intersection of the 0.382 retrace and the 4h TL.

I don't really use Elliot wave but starting to notice it more when others post about it. The way I see it this would be around the start of Wave 3 (yesterday was the second part of the 3rd wave) which would tie in with the big move from the H&S. I really don't know anything about EW but i'm curious if anyone can shed light. I said yesterday H&S is a bit useless for timing entries, SLs, TPs etc but whenever I've noticed them they do tend to precede a big move. Then again I heard a guy on a trading podcast yesterday saying they only hold 50% of the time, other times they just lead into consolidation and they're basically useless. Obviously, I don't think large speculators are saying- oh there's an H&S lets go long/short. Who knows maybe they're using this to find counterparties to their big shorts.

I'd love to hear some arguments for the bears side, I definitely have a tendency to develop a view and only look for reasons to back it up rather than challenge it (confirmation bias)
  • #127,310
  • Feb 24, 2021 12:15am Feb 24, 2021 12:15am
1.2152, is the important price for today.
  • #127,311
  • Feb 24, 2021 12:20am Feb 24, 2021 12:20am
Quoting eurusd-thijs
sell limit 1.2172 with tp 1.2152 is waiting with no sl {image}
deleted the sell limit, will seek the short manual, has a bit too much power steaming to the north
Trends have a higher probability of continuing than not.
  • #127,312
  • Feb 24, 2021 12:31am Feb 24, 2021 12:31am
Quoting pipfarm
Not something i would trade but 30 min is in retracement with ab and could be moving into c , correction confirms on 4H as it is moving against the daily The daily is moving up with the weekly so not a big correction due but could be worth some pips {image}

"Not something i would trade" , that reason now becomes clear, as i never trade corrections, the trade is now long from the 30 min correction which is over and now the swing is moving with the daily and weekly back up.
Follow The Markets Structure - Patience and Discipline
  • #127,313
  • Feb 24, 2021 12:33am Feb 24, 2021 12:33am
1.2214-28 might be a good intraday target IF we get there, I will probs hold longer

IF we break the TL then my bull case is invalidated- could then look for sells when we retrace back up to the 1.216x zone
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  • #127,314
  • Feb 24, 2021 12:37am Feb 24, 2021 12:37am
Quoting mysterio
1.2214-28 might be a good intraday target IF we get there, I will probs hold longer IF we break the TL then my bull case is invalidated {image}
Is this a False brake or a real one?
  • #127,315
  • Feb 24, 2021 12:42am Feb 24, 2021 12:42am
Quoting peterfahey
{quote} Is this a False brake or a real one?
Haha- I wish I knew. It's playing with me. I genuinely would not like to call it. Obviously I hope it's real but it could go either way. Ordinarily as a scalper I would have closed or scaled out at R1 but i'm sticking with it. I'm sure theres plenty of bears shorting this area- I'm sure we'll know within the hour. The amount of times LO has got my hopes up then spat in my face... I'm sure it's designed to trick people into taking the other side of their trades
  • #127,316
  • Feb 24, 2021 12:54am Feb 24, 2021 12:54am
I am staying long for now
Drawdown is more important than Account Size !
  • #127,317
  • Feb 24, 2021 12:58am Feb 24, 2021 12:58am
Quoting mysterio
{quote} Haha- I wish I knew. It's playing with me. I genuinely would not like to call it. Obviously I hope it's real but it could go either way. Ordinarily as a scalper I would have closed or scaled out at R1 but i'm sticking with it. I'm sure theres plenty of bears shorting this area- I'm sure we'll know within the hour. The amount of times LO has got my hopes up then spat in my face... I'm sure it's designed to trick people into taking the other side of their trades
The usual manipulation is going on, the coast will be clear when this 1H close, if there's upper wick, it's bear day, just look at your left on 1H chart with tweezer top, and if the present 1H close with wick, then that is the manipulation
  • #127,318
  • Edited 1:28am Feb 24, 2021 1:11am | Edited 1:28am
this way or this way ?

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Attached Image
  • #127,319
  • Feb 24, 2021 1:14am Feb 24, 2021 1:14am
Quoting energies
this way or this way ? {image}

Or no way?
  • #127,320
  • Feb 24, 2021 1:29am Feb 24, 2021 1:29am
This is painful- anyone still long? Tempting to take my 20 or so pips and run

edit- screw it- just took 20, its my daily target after all
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