Focus only on what truly matters!
- #130,561
- Apr 21, 2021 9:27am Apr 21, 2021 9:27am
- Joined May 2014 | Status: Full Time Trader | 27,111 Posts
- #130,562
- Apr 21, 2021 9:50am Apr 21, 2021 9:50am
- Joined Sep 2018 | Status: Trader Man | 2,123 Posts
Here is my graph of Renko ,
I will still continue with my shorts
"No pain no gain"
- #130,563
- Apr 21, 2021 9:51am Apr 21, 2021 9:51am
- Joined May 2014 | Status: Full Time Trader | 27,111 Posts
Focus only on what truly matters!
- #130,565
- Apr 21, 2021 10:01am Apr 21, 2021 10:01am
- Joined Sep 2013 | Status: Trader | 1,674 Posts
Here is my graph of Renko , {image}I will still continue with my shorts
I would wait for shorts.Check retail traders they are selling so euro goes up.
Current Ratio | FXSSI - Forex Sentiment Board
- #130,567
- Apr 21, 2021 10:22am Apr 21, 2021 10:22am
- Joined Jun 2020 | Status: Trader | 1,175 Posts
{quote} Bears still have the upper hand, and they have got non-stop 26 hours old momentum. In my book, they still have it just as strongly now. At this very moment, to break that momentum, price would have to get back into the 2030s today, or at the very least, stagnate in the 2010s or 2020s, that could a bit later... Volatility has finally ceased to grow after 5 good hours, and it has done so AT SUPPORT. That is where it changes everything, if momentum breaks up soon. Very good sign for the bulls! But not enough for a complete reversal and continuance...
Another day, another dollar.
- #130,568
- Apr 21, 2021 10:23am Apr 21, 2021 10:23am
- Joined Jun 2020 | Status: Trader | 1,175 Posts
Another day, another dollar.
- #130,571
- Edited 11:40am Apr 21, 2021 11:22am | Edited 11:40am
- Joined May 2014 | Status: Full Time Trader | 27,111 Posts
{quote} What's the status on your trade? Did you go with the stop out or add to your position? Thanks
* I used ">" meaning bigger than..
** Based on H1, 1.2043 is highly highly important resistance area!!!!!
*** Any H1 candle close above 1.2037 is dangerous for bears!!!!
**** The only thing that concerns me with shorts: Still too many sellers on retail!
Focus only on what truly matters!
{quote} No trades untill ECB tomorrow. I would wait for shorts.Check retail traders they are selling so euro goes up. Current Ratio | FXSSI - Forex Sentiment Board
- #130,574
- Apr 21, 2021 12:06pm Apr 21, 2021 12:06pm
- Joined May 2014 | Status: Full Time Trader | 27,111 Posts
Based on H1, Pitchfork's median line and H&S neckline area currently slowing down bulls.. I hope for a bounce down but nothing for sure yet.. Patience is key
Focus only on what truly matters!
- #130,575
- Apr 21, 2021 12:12pm Apr 21, 2021 12:12pm
- Joined Sep 2020 | Status: Trader | 8,702 Posts
Good morning all! And big moves at this critical level ! This has been the level to which I had envisioned it would reverse and start going south. But things have evolved significantly in the last 2 hours and had to change plan significanly to adapt. This is a great opportunity to buy, although risky. I now have a reversal on volatility and I have bought at 2011. Updating soon
Hi again all I am back at lassssst !!!! Wow, what a day ! Just finished unloading a surprise shipment, in the midst of which my trade alarms have been going crazy
Just relieved it wasnt my 1979 one ! I wouldve had to become an acrobat between trading and unloading 
If I would ve known, I would not have come here to write earlier ... Sincerely sorry for the absence of follow up after my first post. Not COOL
Have shared the main idea of my reaction to buy again and to postpone my take of partial profits for the day. But Ill try to elaborate a little bit more now.
OK.. Give me some time... I have a lot of catching up to do (not only EURUSD) but I have not forgotten and need my tea and will be back ASAP this time promise.
I finally can sit back down and readjust my SLs and alarms in accordance with what happened.
P.S being extra careful for longs!! This could very well be the top of a range. Need.2020s to reject it here.
Have a new BUY STOP at 2034, which will need to be managed much more quickly than my last and will be closed soon if price does not gradually move back in the 30s. Need a break above 2050 within this same momentum. A break below 20 would kill it also.
More later...
If I don't mention SL and/or TP = longer-term setup possibly in the works!
- #130,577
- Apr 21, 2021 1:14pm Apr 21, 2021 1:14pm
- Joined May 2014 | Status: Full Time Trader | 27,111 Posts
H1 Status Update
- I have one signal saying buy and another one saying sell around 1.2022/24.. Paradox situation in favor of bulls!
- For now candles are above GREEN and bulls have the upper hand (also with the knowledge that most retail traders are short this info goes hand in hand)..
- When in doubt it is best to step down: I am closing my sell order from 1.2025 with -3 pips loss.. Is well..
- Since GREEN line is flat I will wait until tomorrow London before opening any new orders.. This is too choppy for me!
- Bears still have a chance while below 1.2037/42, Bulls still have a chance while above 1.2015..
- My suggestion: Trade safe or completely stay away..
I hope it helps..
Focus only on what truly matters!
- #130,578
- Edited 1:54pm Apr 21, 2021 1:33pm | Edited 1:54pm
- Joined Sep 2020 | Status: Trader | 8,702 Posts
{quote} Bears still have the upper hand, and they have got non-stop 26 hours old momentum. In my book, they still have it just as strongly now. At this very moment, to break that momentum, price would have to get back into the 2030s today, or at the very least, stagnate in the 2010s or 2020s, that could a bit later... Volatility has finally ceased to grow after 5 good hours, and it has done so AT SUPPORT. That is where it changes everything, if momentum breaks up soon. Very good sign for the bulls! But not enough for a complete reversal and continuance...
This is not a thread about a strategy, so I will not go further down the rabbit hole than I have already in my previous posts. My strategies have been developed extensively to adapt to a great deal of scenarios, and have too many variants. They are not K.I.S.S (Keep It Simple) they are more like ??? K.I.C.K (Keep It Complicated Kangaroo)?
OK, maybe I should stop here. Am quite tired and will not review the rest.. so please forgive any repetition or lack of clarity. I will be here tomorrow also...
But the gist of this situation for me was this :
I bought at that moment because
DOWNWARD volatility growth had been constant and above averages for over 1H, but stopped COLD at -+ 2005, right in an important average level that has been repeatedly rejected in the last 20days, and after which new highs immediately ensued.
At that point, I normally would wait for momentum to break apart and look for an entry there BUT :
The BULLS BLOCK from +-2005 was done in mere minutes. BULLS took hold of volatility growth right then and there and held for a good hour.
That was enough to stop the bears for the day.
That was enough for me NOT to have to wait for momentum to break apart to check for setups, and got a go on the 1m to enter.
I didnt need the best entry at this point...
Probability was also on bulls side again. A back up to 2020 was most most most most probably happening, and I could move my SL at BE then, if hit, would look to reenter at approximately same levels, as long as long term momentum stays intact.
Now, volatility dropped shortly afterwards for both, as is usually the case in these situations. Price gabbled like a baby...
Usually, as a volatility trade alone, I would have been out 15m after entry.
With this long term support, any stagnation or light ranging simply increases the chance of it returning to where it came from, and from there,
well, lets just say history likes to repeat itself right ?, till it doesnt. And I will get in LONGS as LONG as it doesnt.
Now, we can just wait and see if we start ranging and I have to get back in a few times, or if bears really are refusing 2050, and break the bulls move up.
I dont use trend lines for trading, but this is just to illustrate the slope the bears would have to disturb before I stop holding on to AS MANY LONGS as I can (at BE of course).
I wanted to post more charts, but it will have to be for another time
I am solwly getting ready to go to bed now, but hanging around a bit, with my black chocolate and tea. mmmmmmmm cheers all !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
- #130,579
- Apr 21, 2021 1:47pm Apr 21, 2021 1:47pm
- Joined Sep 2020 | Status: Trader | 8,702 Posts
H1 Status Update I have one signal saying buy and another one saying sell around 1.2022/24..{image}
Don't you love it when that happens!!!When in doubt it is best to step down: I am closing my sell order from 1.2025 with -3 pips loss.. Is well.. Since GREEN line is flat I will wait until tomorrow London before opening any new orders.. This is too choppy for me! Bears still have a chance while below 1.2037/42, Bulls still have a chance while above 1.2015.. My suggestion: Trade safe or completely stay away.. I hope it helps..
If I don't mention SL and/or TP = longer-term setup possibly in the works!
- #130,580
- Apr 21, 2021 2:05pm Apr 21, 2021 2:05pm
- Joined May 2014 | Status: Full Time Trader | 27,111 Posts
{quote}
Focus only on what truly matters!