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- #14,101
- Mar 15, 2021 1:15pm Mar 15, 2021 1:15pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
- #14,104
- Mar 15, 2021 8:03pm Mar 15, 2021 8:03pm
- Joined Mar 2004 | Status: Senior Member | 1,634 Posts
- #14,105
- Mar 15, 2021 8:50pm Mar 15, 2021 8:50pm
- | Joined Sep 2019 | Status: Share my knowledge | 154 Posts
Here is an example of what prices are doing at support.
When I first started learning, people always said sell at resistance, but only now I realized this.
Sell when the price stops rising and starts falling.
EDIT: I have added M15 chart
When I first started learning, people always said sell at resistance, but only now I realized this.
Sell when the price stops rising and starts falling.
EDIT: I have added M15 chart
- #14,109
- Mar 16, 2021 8:16am Mar 16, 2021 8:16am
The immediate Big Boss trend is down. This is after reaching an all time high last July. Presently it below 2011 highs and testing the strat shadow. The question is how far will this retracement (pullback) go before resuming the overall bullish trend?
The Boss trend has been making lower lows and lower highs down to where it is presently in obedience to the big boss command. It is been supported by a confluence of a trendline at SNR. It is however in a two weeks WCC and testing the strat shadow resistance. Although it is still in a bearish pullback, may have to wait for it to clearly breakout from the WCC for confirmation of direction.
The strat shadow is acting as a resistance just as we have seen also in the Boss. The immediate trend on the worker is bullish after a confirmed swing low, as against what we have seen in the HTFs. Could this signify the end of the bearish pullback? (that will only happen after the current WCC is broken to the upside, i presume), or is this just a pullback in a pullback?
For me, since both bosses are bearish for now, so will wait for the worker pullback to fade at the green SNR zone, where we have the confluence of resistance of both the strat shadow and structure. If that were to happen, will look for bearish signal from the 4hrs tf to go south.
Please let my seniors assist me here.
Thank you
- #14,115
- Mar 16, 2021 9:40pm Mar 16, 2021 9:40pm
- Joined Mar 2004 | Status: Senior Member | 1,634 Posts
- #14,119
- Mar 17, 2021 4:19am Mar 17, 2021 4:19am
I also entered the USDJPY in early February at the worker 200ema once price moved to and retraced back to the shadow. Once again target was the BB 200ema so closed it yesterday for RR of 1:4 {image}
Hi Terry,
Congrats on this trade.
Have been trying to look through your mind to see what you saw before taking this trade.
Was it that you bought into the 200 Ema because price has not closed above it when you bought or was it a buy stop order?
Then looking at the left, one could see a Resistance zone almost at the point you bought. So you bought into resistance? Or was your entry from a lower tf.
The Strat shadow was beneath you though the 20 just crossed upward above the 50, or were you looking at the Higher Lows that were forming in the pullback?
All the same, it was a good trade and kudos to you.
Thank you
