Trends have a higher probability of continuing than not.
- #128,664
- Edited Mar 16, 2021 1:24am Mar 15, 2021 10:48pm | Edited Mar 16, 2021 1:24am
My Plan for Today
US Retail Sales at 8:30 EST
As I sit here this morning, I see the H4 setting up a potential base for a swing to range highs, or a potential descending triangle. I tend to be bearish because all this structure is below 1.20. But my feel is that price doesn't go much of anywhere before FOMC.
Possible tight range today.
Day Trade Plan
If price trades higher but doesn't disrupt the 2nd peak of the descending triangle then I will look for a short position if it sets up.
Swing Trade Plan
Took a short yesterday on the break beneath 1.1940, selling more if there is a break of the triangle (1.1910-1.1900).
US Retail Sales at 8:30 EST
As I sit here this morning, I see the H4 setting up a potential base for a swing to range highs, or a potential descending triangle. I tend to be bearish because all this structure is below 1.20. But my feel is that price doesn't go much of anywhere before FOMC.
Possible tight range today.
Day Trade Plan
If price trades higher but doesn't disrupt the 2nd peak of the descending triangle then I will look for a short position if it sets up.
Swing Trade Plan
Took a short yesterday on the break beneath 1.1940, selling more if there is a break of the triangle (1.1910-1.1900).
- #128,665
- Mar 16, 2021 12:35am Mar 16, 2021 12:35am
- Joined Sep 2016 | Status: TMT Scalping... | 2,408 Posts
TMT Scalping System (Best system on FF)
- #128,667
- Mar 16, 2021 2:26am Mar 16, 2021 2:26am
- Joined May 2013 | Status: Trader | 1,457 Posts
Neither a Bro Nor a Pro I am I
- #128,670
- Mar 16, 2021 4:53am Mar 16, 2021 4:53am
On H1 we have a strong support before 1.19. It looks like a right-angle triangle, in case of break we have a easy short up to 1.1840, also lower.
On Daily we are all waiting for the FOMC of course. We may see the price in the area of interest between 1.175 and 1.165. This area has been a good support, and we have the candle after US election to test
On Daily we are all waiting for the FOMC of course. We may see the price in the area of interest between 1.175 and 1.165. This area has been a good support, and we have the candle after US election to test
- #128,671
- Mar 16, 2021 5:18am Mar 16, 2021 5:18am
- Joined Oct 2010 | Status: Trader | 4,465 Posts
Follow The Markets Structure - Patience and Discipline
- #128,675
- Mar 16, 2021 5:40am Mar 16, 2021 5:40am
- Joined Oct 2018 | Status: Risk comes from not knowing what to | 2,235 Posts
Time for reward my die hard buyers 
The only obstacle I see is Friday's high... Let's see how price reacts there.
Still holding till tp @ 1.20285
The only obstacle I see is Friday's high... Let's see how price reacts there.
Still holding till tp @ 1.20285
Risk comes from not knowing what to do
- #128,676
- Mar 16, 2021 5:42am Mar 16, 2021 5:42am
- Joined Oct 2018 | Status: Risk comes from not knowing what to | 2,235 Posts
Risk comes from not knowing what to do
- #128,677
- Mar 16, 2021 5:44am Mar 16, 2021 5:44am
- Joined May 2014 | Status: Full Time Trader | 27,261 Posts
Thinking of selling at 1.1950. I want to know what pros say about it.
*MACD bearishness gives a hint about why bulls struggle.. Bulls would be stronger if macd signal line climbs back above 0..
Focus only on what truly matters!
- #128,678
- Mar 16, 2021 5:52am Mar 16, 2021 5:52am
- Joined May 2014 | Status: Full Time Trader | 27,261 Posts
Focus only on what truly matters!
