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  • #127,561
  • Feb 26, 2021 8:05am Feb 26, 2021 8:05am
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  • #127,562
  • Feb 26, 2021 8:14am Feb 26, 2021 8:14am
Quoting mysterio
Just bought at 1.2125, SL 15 pips TP open. Bottom of a channel and an old support. DXY in a 4h supply zone, about to hit upper TL. Also a TL if you project the last 2 lows on EU. Will get my stop to BE asap if it uplifts. Edit- attached DXY. 'Should' save bulls {image}
Just closed for 5 pips. Broke my rules and widened my stop loss, but i figured it could reach one of those supply levels on DXY

Eurusd really not delivering the goods for me lately, or maybe it's just my crappy trading
  • #127,563
  • Feb 26, 2021 8:16am Feb 26, 2021 8:16am
Staying out of the market for now. I had an excellent trading month. Good luck to you all !

Next month will bring more pips !
Drawdown is more important than Account Size !
  • #127,564
  • Feb 26, 2021 8:16am Feb 26, 2021 8:16am
Quoting mysterio
{quote} Just closed for 5 pips. Broke my rules and widened my stop loss, but i figured it could reach one of those supply levels on DXY Eurusd really not delivering the goods for me lately, or maybe it's just my crappy trading
Damn your really held that whole time? It could've gone further lmao. I'm short here expecting the real drop to happen
  • #127,565
  • Feb 26, 2021 8:21am Feb 26, 2021 8:21am
Yea I did agonise over it, was watching the PA on dxy during that false break. And we had that 4h TL that was my red line. Just instinctually I felt it would pull back as I've watched similar scenarios play out. Got lucky I guess.

A lot of this depends on how the market digests the events in fixed income, will be watching at NY but I feel bearish EU is the most likely outcome. No more trades for me though, I actually had a great day overall

That's one hell of a pin bar on the 4h though...
  • #127,566
  • Feb 26, 2021 8:33am Feb 26, 2021 8:33am
H4 Update Status
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  • #127,567
  • Feb 26, 2021 8:33am Feb 26, 2021 8:33am
Hi,

I'm new to this thread. Apologies ahead of time if this is a repetitive question. Does anyone have a 3 white soldiers/3 black crows indicator with sound alert for mt4?

Thanks.
  • #127,568
  • Feb 26, 2021 8:36am Feb 26, 2021 8:36am
Quoting procrude
Staying out of the market for now. I had an excellent trading month. Good luck to you all ! Next month will bring more pips !
Fairly good 2 months by the look of it
  • #127,569
  • Feb 26, 2021 8:44am Feb 26, 2021 8:44am
Quoting peterfahey
{quote} Fairly good 2 months by the look of it
Yes but no one knows how the next month will be like I try to focus as much as I can. I have a very risky way of trading which I am use to. This thread and excellent input by the users here have helped me a lot. I thank every body here
Drawdown is more important than Account Size !
  • #127,570
  • Feb 26, 2021 9:15am Feb 26, 2021 9:15am
I hear their are a lot of month end flows at 4pm GMT which should transfer in to dollar weakness
  • #127,571
  • Feb 26, 2021 9:17am Feb 26, 2021 9:17am
Quoting KCJed
Hi, I'm new to this thread. Apologies ahead of time if this is a repetitive question. Does anyone have a 3 white soldiers/3 black crows indicator with sound alert for mt4? Thanks.
It was discussed on another thread.. here is the link for the indicator:
https://www.forexfactory.com/thread/...3#post10986023

I hope it helps..
Focus only on what truly matters!
  • #127,572
  • Feb 26, 2021 9:21am Feb 26, 2021 9:21am
Between S1 and S 2.
  • #127,573
  • Feb 26, 2021 9:41am Feb 26, 2021 9:41am
I'm trying to get better at identifying the relative significance of different support or resistance lines according to volume. Yesterday Kyuu called out the 1.2221 line in mulitple posts in advance of the big breakdown and there were two lines from Kyuu's posts that stood out to me while we were still uncertain about whether the break would come:

10:51 a.m. EST - "That level of support I estimated was the last of buying power I believe"
11:18 a.m. EST - "After like 6-8 candles of 15 min candles failing to go below, I can be wrong here as this is signs of whales accumulating as well."

I can see where stall zones are like we had from roughly 5:15 a.m. to 12:45 p.m. But what I don't know how to do yet is evaluate how much volume is built up in those zones such that I can make a prediction like Kyuu did that "we should either see a violent bearish move that will be potentially more than just a pullback..." (10:11 a.m.)

For Kyuu or anyone else, how do you gauge the magnitude of a consolidation/buildup such that its breakout is more likely to be in the 10s of pips and violate moving averages on multiple time frames as we saw yesterday as opposed to the little sideways ranges that head fake up or down or pinball back and forth without large pent up energy to propel a subsequent move. In other words, for Kyuu or others, what do you look for to indicate when it is more likely that we will see "a violent bearish [or bullish] move"?
  • #127,574
  • Edited 10:11am Feb 26, 2021 9:55am | Edited 10:11am
I've been short for a while , expecting this to make it's move in the next hour or two. This 1 minute chart has concerned me though, there was this break below support and it couldn't break above a specific level which bounced hard when it re-tested. I'm guessing we either hold this level or we crashing down hard! Prayin for bears

These 20 pip swings instantly are wild. I would buy this setup if we were in a buy zone but my strategy tells me I'm selling, I have a good feeling it's market manipulation to suddenly drop.
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  • #127,575
  • Feb 26, 2021 10:06am Feb 26, 2021 10:06am
Quoting peterfahey
I hear their are a lot of month end flows at 4pm GMT which should transfer in to dollar weakness
Can you explain this a little more, don't think i've heard of this?
  • #127,576
  • Edited 10:28am Feb 26, 2021 10:14am | Edited 10:28am
Quoting Kyuu
I've been short for a while , expecting this to make it's move in the next hour or two. This 1 minute chart has concerned me though, there was this break below support and it couldn't break above a specific level which bounced hard when it re-tested. I'm guessing we either hold this level or we crashing down hard! Prayin for bears These 20 pip swings instantly are wild. I would buy this setup if we were in a buy zone but my strategy tells me I'm selling, I have a good feeling it's market manipulation to suddenly drop. {image}
Update: From what it seems like, this was a short stop hunt for anyone who had a stop above the resistance line (15 min chart). As usual, I entered too early without the market manipulation signal because I'm stupid, but still a good price. Blue box represents what the market wanted to do, but some whale bought it up so they could sell and join the party at a better price.

Another great example of a (potential) M setup, get ready for another potential massive drop. 2nd picture is the 1 min chart again I posted earlier that broke. Still might be wrong though who knows Expecting an 80-100 pip drop

First potential TP: 1.20261 , but I will look to see if 1.2045-1.205 area holds as support as I have a sloppy previous resistance as support there.


Edit: We could see a pullback at 1.207 area back to 1.21018 ish, but I'm just gonna hold my short. Goodluck everyone
Edit 2: If 1.20779 holds as support somehow and we go back above this M, we are in for a super scary bull market.
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  • #127,577
  • Feb 26, 2021 10:29am Feb 26, 2021 10:29am
Quoting mysterio
{quote} Yeah- it is kind of weird and backwards. Its because less people want US government debt, and because of that you get a higher yield it which attracts people in/creates more demand. Also, this has spooked the market quite a bit, so people are coming out of equities and into cash- and because US is the biggest stock market that means dollar demand.
Continuing our discussion yesterday, and by the crazy Strong USD is ( see BTC and Gold price) . Will this situation continue for long term? I guess so. I remember when EUR/USD keep rallying everyday without stopping. All bullish for months. What do you guys think.
Biggest Mistake ? Over Leverage
  • #127,578
  • Feb 26, 2021 10:32am Feb 26, 2021 10:32am
Quoting mysterio
{quote} Can you explain this a little more, don't think i've heard of this?
It will be over now but big company's in the UK that have to transfer money in to different currency's for what ever reasons. happens every Friday but more noticeable at the end of the month and also the transactions can be fairly balanced and have no significance however the roomer today was that it wasn't balanced and was going to provide dollar weakness which I suppose it did if you look at the 16:00 DXY candle on the M15 compared with EU.
  • #127,579
  • Feb 26, 2021 10:33am Feb 26, 2021 10:33am
M15 example of most recent aggressive entries only.. (max. draw down would have been 33 pips)
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Focus only on what truly matters!
  • #127,580
  • Feb 26, 2021 10:33am Feb 26, 2021 10:33am
Quoting sing2x
{quote} Continuing our discussion yesterday, and by the crazy Strong USD is ( see BTC and Gold price) . Will this situation continue for long term? I guess so. I remember when EUR/USD keep rallying everyday without stopping. All bullish for months. What do you guys think.
My strategy tells me that we're about to be in for a massive bear market long term. This week was the most important week for bulls to recontinue. This sudden drop changed everything both short and long term. I believe we will drop to 1.15 now before having a chance to go back up assuming next weeks candlestick closes below 1.2
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