It is at 1.1970 currently and it remains pretty bullish, I could see it rallying to 1.2000 directly.
1
- #128,525
- Mar 11, 2021 12:20pm Mar 11, 2021 12:20pm
- Joined Nov 2019 | Status: Trader | 1,121 Posts
{quote} Terrible price action.. Mr. Choppy is all over the place lately..
The only good thing was that the trader found the right levels by itself and there was a good correction:
Today only 1.9%. But I don't want to be greedy...
- #128,526
- Edited 3:17pm Mar 11, 2021 12:26pm | Edited 3:17pm
- Joined Jun 2009 | Status: Trader | 1,734 Posts
Took profits on earlier trades, but got back in and trying to squeeze another 20 pips out. Then shorting. Color to color. Easy!
Future Fibo helps target current moves.
15 Minute chart future target. 
Here is the failure projection. 
Here is a scenario that could play out given that I have a future Fibo A-100 level (maroon) In the previous pic so close.
Future Fibo helps target current moves.
15 Minute chart future target.
Here is the failure projection.
Here is a scenario that could play out given that I have a future Fibo A-100 level (maroon) In the previous pic so close.
MY GRID. Markets are NOT random.
- #128,527
- Mar 11, 2021 12:43pm Mar 11, 2021 12:43pm
{quote} took a 47.1 pip profit and now went short at 1.1977 with a 5 pip SL. Idea is that this is either a M or I'm wrong and we'll go up. I'd rather secure my profits than watch it go away to a potential M. 180 pip target 5 pip SL, pretty good risk reward if it's right
- #128,528
- Mar 11, 2021 12:50pm Mar 11, 2021 12:50pm
- Joined May 2014 | Status: Full Time Trader | 27,258 Posts
Focus only on what truly matters!
- #128,529
- Mar 11, 2021 1:05pm Mar 11, 2021 1:05pm
- Joined Jun 2009 | Status: Trader | 1,734 Posts
MY GRID. Markets are NOT random.
- #128,532
- Mar 11, 2021 1:18pm Mar 11, 2021 1:18pm
- Joined May 2014 | Status: Full Time Trader | 27,258 Posts
{quote} Nice timing on the recovery , you don't seem to lose even when you lose haha
Focus only on what truly matters!
- #128,540
- Edited 9:56pm Mar 11, 2021 9:45pm | Edited 9:56pm
PPI at 8:30 EST
Rally up to 1.20 yesterday. Asian session broke the trend of the extension in yesterday's NY afternoon. Will be watching the nature of this pullback.
Day Trade Plan
I'm thinking today may be an inside bar or slightly positive with the thought that momentum is still up but process of testing breakout levels.
The uptrend is still not broken though, although if price trades back up to 1.1975ish (the breakdown of the Asian session), I'll look for some shorts to target the 1.1950 area.
If price drops past the pivot point in the Asian session, then I'll watch for resistance in the 1.1950-1.1965 range, which would arguably be a right 'shoulder' to yesterday's high during the London session.
While price is below 1.20 (or a trade above and then significant recapture of below 1.20) I have to go short, above 1.20 I will go long if price holds intraday support.
Swing Trade Plan
While I watch this red bar this morning the FOMO is real. Makes me wish I faded the rally last night. But fading is not in my plan, so best thing to do is continue to watch price behavior and wait for a proper setup.
Rally up to 1.20 yesterday. Asian session broke the trend of the extension in yesterday's NY afternoon. Will be watching the nature of this pullback.
Day Trade Plan
I'm thinking today may be an inside bar or slightly positive with the thought that momentum is still up but process of testing breakout levels.
The uptrend is still not broken though, although if price trades back up to 1.1975ish (the breakdown of the Asian session), I'll look for some shorts to target the 1.1950 area.
If price drops past the pivot point in the Asian session, then I'll watch for resistance in the 1.1950-1.1965 range, which would arguably be a right 'shoulder' to yesterday's high during the London session.
While price is below 1.20 (or a trade above and then significant recapture of below 1.20) I have to go short, above 1.20 I will go long if price holds intraday support.
Swing Trade Plan
While I watch this red bar this morning the FOMO is real. Makes me wish I faded the rally last night. But fading is not in my plan, so best thing to do is continue to watch price behavior and wait for a proper setup.