- Post #127,702
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- Mar 1, 2021 12:18pm Mar 1, 2021 12:18pm
- Joined Jun 2009 | Status: Member | 1,734 Posts
Daily chart in wave 4.
Hit the pull back buy level on Feb 4 @1.1982.
Currently the market could fall back there but the overall direction is up to 1.2720.
You can buy now but be aware of the stop hunt.
Closed short scalp with small loss and went long will be adding to position as market moves up.
MY GRID. Markets are NOT random.
- Post #127,703
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- Mar 1, 2021 12:19pm Mar 1, 2021 12:19pm
- Joined Oct 2013 | Status: Member | 1,079 Posts
- Post #127,704
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- Mar 1, 2021 12:35pm Mar 1, 2021 12:35pm
stop selling.... now buying{image}
- Post #127,705
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- Mar 1, 2021 12:43pm Mar 1, 2021 12:43pm
- Joined May 2014 | Status: Full Time Trader | 23,645 Posts
Waiting for pending sell limit order at: 1.2061 to get activated.. Stops should go a little above 1.2086..
*Remember: 1.2049 is important for today's closing price..
Be a seer, not a looker!
- Post #127,706
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- Mar 1, 2021 1:01pm Mar 1, 2021 1:01pm
{quote} Closing order with +12 pips here at 1.2049.. Calling it a day folks.. Hopefully I continue tomorrow.. Trade safe.. Cheers
1oclock candle shows the truth
- Post #127,707
- Quote
- Mar 1, 2021 1:11pm Mar 1, 2021 1:11pm
My last post for this trade for the next few hours: My final analysis tells me the long term trend is still short but we're in a potential long term pullback phase, if I get stopped then so be it but I will look to re-enter short or just flat out hold my short that's up 50 pips (although the max pullback I have is to 1.21258) Image 1 (4h) shows that price barely missed the obvious support levels by a few pips. To me, that means either we will revisit it soon (which would make a perfect long stop hunt), or that when we actually visit that level again...
Rode the previous support line as expected, not sure where the rebound will happen but it will happen after this down leg most likely, and I expect this to be a rather long leg. Maybe 1.19822? Hoping this will shatter 1.202-1.2025 support 
- Post #127,708
- Quote
- Mar 1, 2021 1:17pm Mar 1, 2021 1:17pm
- Joined May 2014 | Status: Full Time Trader | 23,645 Posts
{quote} Noooo you missed the drop
Be a seer, not a looker!
- Post #127,709
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- Mar 1, 2021 1:22pm Mar 1, 2021 1:22pm
{quote} Unnecessary concerns.. All well
+12 surely better than -12 , just unlucky
- Post #127,712
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- Mar 1, 2021 1:54pm Mar 1, 2021 1:54pm
{quote} Doubled Postition once price bounced back to 1.2055 Stops above spike from earlier today 1st entry- 1.2064 2nd entry 1.2055 Exited- 1.20365 +46 pips Still think it may break through, but seems tough to break through that current support of 1.203 Waiting for retrace to 1.2055-1.206 to re-enter for same trade.
My trading style is more swing trading than scalp. I don't ilke how price bounced off the previous resistance as support now, I expected it to crash underneath 1 more time. If price manages to break above the lows of the range before it fell, I will be exiting my short.I hold my trades more longer term and my own strategy, I believe that if we have a true pullback/reversal , it will happen around London open. I'm simply relying on the fact that maybe the Daily closes with a new low and that during Asian session, we kind of wobble up and down from there and London open will create a stop hunt down before going up. That's just my wild guess. I could just end up covering here too if this goes up. Maybe we might just consolidate in this range. We'll see
- Post #127,713
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- Mar 1, 2021 2:07pm Mar 1, 2021 2:07pm
- Joined Dec 2018 | Status: Member | 1,483 Posts
- Post #127,714
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- Edited 2:46pm Mar 1, 2021 2:16pm | Edited 2:46pm
- Joined Jun 2009 | Status: Member | 1,734 Posts
3rd wave D TP completed @ 1.2041.
The market pushed higher but did not hit the pullback price @ 1.2077 for a wave 4 down which is still possible.
Here is the down target projection for a wave 4 D @1.1957.
MY GRID. Markets are NOT random.
- Post #127,715
- Quote
- Mar 1, 2021 2:29pm Mar 1, 2021 2:29pm
- | Joined Jul 2020 | Status: Member | 185 Posts
{quote} The drop is officially happening with this M pattern
- Post #127,716
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- Mar 1, 2021 2:32pm Mar 1, 2021 2:32pm
- Joined Nov 2020 | Status: Member | 4,573 Posts
- Post #127,718
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- Mar 1, 2021 3:48pm Mar 1, 2021 3:48pm
{quote} I think you mean 26 cause the math on that is wrong
Math is pips for each trade combined.
I use a intraday trend following strategy, and look for 3, or 4 to 1 R:R
Risking typically .5% account each trade
Up to 1% if I’m confident on trade.
Very well could be what you’re saying!
1.2050 acting as resistance now though, but sleepy volume so on the side lines for now.
let’s wait, watch, and find out.
Green Trading!
- Post #127,720
- Quote
- Mar 1, 2021 4:26pm Mar 1, 2021 4:26pm
- Joined Oct 2013 | Status: Member | 1,079 Posts
Market is eyeing the 1.1984-1.1966 zone
...but it has to bleed on the upside first & then set up a reversal divergence - could happen overnight.
There has been relentless selling at E-16 until now, I think the E-32 (Divider) would be crossed before continuing lower. E-67H would be my second guess for a good short entry.
Whilst others are eyeing 1.1750, I'm thinking that the bounce is gonna be coming from the 1.16-1.1625 region
...but it has to bleed on the upside first & then set up a reversal divergence - could happen overnight.
There has been relentless selling at E-16 until now, I think the E-32 (Divider) would be crossed before continuing lower. E-67H would be my second guess for a good short entry.
Whilst others are eyeing 1.1750, I'm thinking that the bounce is gonna be coming from the 1.16-1.1625 region