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  • #130,621
  • Apr 22, 2021 5:29am Apr 22, 2021 5:29am
Based on H1, these are the Chef's Salad S/R Levels for the rest of today.. Bon appetite!
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Focus only on what truly matters!
  • #130,622
  • Apr 22, 2021 5:31am Apr 22, 2021 5:31am
Quoting nic9man
{quote} Yes thanks, channel is clear. Now I see where your 1.2169 comes from. But if the price were to break the channel and go to your horizontal resistance at 1.2169 then the previous channel resistance should act as support slightly above 1.21. So I would expect consolidation in this area.
Above 1.2080 close of weekly, is highly likely it'll finish the M pattern.
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  • #130,623
  • Apr 22, 2021 5:34am Apr 22, 2021 5:34am
Fellow traders, we are back at flirting with this historic level ! 4th day the charm ?



Quoting mtako
{quote} .... IMportant : this is probably just volatility talking both ways for a while given the very high volatility ....
STILL can move back down, and even more strongly than this bull move! If we were not in such a longterm trend AND/OR news wasnt coming up, my SL would be at 2044,
and I would probably look for any strong enough scalp sell setup around that level also.


Next time volatility stops growing for a good 30 min, IF price is above 2050 at that moment,

the probability will be much higher that the bears are done for now, at least till the news comes in.



Quoting mtako
{quote} ... now reversing with buy stop @ 203

Quoting mtako
{quote} ... SL is already tightened at 2021 And SL is at BE if 2041 reached



Moved my 203 at BE and am not looking for any entries from now till the big news comes up.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #130,624
  • Apr 22, 2021 5:38am Apr 22, 2021 5:38am
Quoting nic9man
{quote} Yes thanks, channel is clear. Now I see where your 1.2169 comes from. But if the price were to break the channel and go to your horizontal resistance at 1.2169 then the previous channel resistance should act as support slightly above 1.21. So I would expect consolidation in this area.
No it's not. You've got to understand why the Support.

Check out the last trend. It's continuing without any pull back. It came from 1.17 and it's trading around 1.20. As i mentioned before 1.20 is a psychological level. It is expected to retest 1.20.

Today if this 4hr to close below 1.2020 or better 1.2011, then i'd close my eyes and sell it the next pullback. 1.2020 - 1.2040.
  • #130,625
  • Edited 6:24am Apr 22, 2021 5:54am | Edited 6:24am
The current C is what the market has done. The expected numerical C is one line below which did not get touched. If the market cannot make it past 1.2069 It will be going back down to 1.1979 - 1.1959.
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MY GRID. Markets are NOT random.
  • #130,626
  • Apr 22, 2021 6:23am Apr 22, 2021 6:23am
Quoting Traderview
{quote} Above 1.2080 close of weekly, is highly likely it'll finish the M pattern. {image}
Ok thanks, bold forecast that upon a bullish channel breach you expect a reversal, but on the other hand fake breakouts are frequent, so you might be right. But I would still favor a consolitation between 1.208 and 1.218.
Another day, another dollar.
  • #130,627
  • Apr 22, 2021 6:24am Apr 22, 2021 6:24am
Quoting Traderview
{quote} No it's not. You've got to understand why the Support. Check out the last trend. It's continuing without any pull back. It came from 1.17 and it's trading around 1.20. As i mentioned before 1.20 is a psychological level. It is expected to retest 1.20. Today if this 4hr to close below 1.2020 or better 1.2011, then i'd close my eyes and sell it the next pullback. 1.2020 - 1.2040.
But we already retested 1.20 yesterday. How many retests do you expect?
Another day, another dollar.
  • #130,628
  • Apr 22, 2021 6:57am Apr 22, 2021 6:57am
Quoting nic9man
{quote} But we already retested 1.20 yesterday. How many retests do you expect?
A daily close below 1.1950 will confirm this was the retest of 1.20.
  • #130,629
  • Apr 22, 2021 6:58am Apr 22, 2021 6:58am
Quoting Godzilla
{quote} bears hanging by a thread. closed my shorts for break even despite being up 30. re entering shorts at 2041 with a tight mental stop of 2046 historically this is the fake out wave. very deep pullback typically making a new high low or low high as the case may be to rid the retail traders. im still bearish. time will tell if i have identified it correctly. Target 1978 Similar setup occured on 18/04 2100 {image}{image}
this really stumped me. on sidelines closed shorts for -15.

really want to hold a short but no real stop point i can discern
  • #130,630
  • Apr 22, 2021 7:20am Apr 22, 2021 7:20am
Quoting Godzilla
{quote} this really stumped me. on sidelines closed shorts for -15. really want to hold a short but no real stop point i can discern
my last attempt at rationalizing teh inexplicable which is typical of this wave or am i only seeing red (bears) ?
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  • #130,631
  • Apr 22, 2021 7:23am Apr 22, 2021 7:23am
Quoting nic9man
{quote} But we already retested 1.20 yesterday. How many retests do you expect?
We can be stuck in a +- 1.19 - 1.22 range for many more days and 1.2 (and all other) could be tested many more times. Typical for such an important historically tested level.

I dont look at that specific price alone.

I know that in the last months alone, we ve had had +40 days at least where price struggled around these prices.

That is also crucial for me to consider in my planning.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #130,632
  • Apr 22, 2021 8:23am Apr 22, 2021 8:23am
I think robber banks just gave bulls a proper kick in the nuts.. lol..

From here now we have to watch 1.2044 resistance area..
Focus only on what truly matters!
  • #130,633
  • Apr 22, 2021 8:23am Apr 22, 2021 8:23am
Quoting mtako
Fellow traders, we are back at flirting with this historic level ! 4th day the charm ? {quote} STILL can move back down, and even more strongly than this bull move! If we were not in such a longterm trend AND/OR news wasnt coming up, my SL would be at 2044, and I would probably look for any strong enough scalp sell setup around that level also. Next time volatility stops growing for a good 30 min, IF price is above 2050 at that moment, the probability will be much higher that the bears are done for now, at least till the news comes in. {quote} {quote}...

Good start for the bulls. Need more. Have a new buy stop at 1.2038, to be reevaluated if 1.202 is breached.

Moved SLs of my 2010s positions up to 202
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #130,634
  • Apr 22, 2021 8:24am Apr 22, 2021 8:24am
Quoting Godzilla
{quote} this really stumped me. on sidelines closed shorts for -15. really want to hold a short but no real stop point i can discern
Took my shorts out at 2065. Fir it to move straight down. F@@k me.
was expecting a fake out but couldn’t hold strong.

anywsy good luck all. Will stay out and stay on sidelines for rest if tiday.
  • #130,635
  • Apr 22, 2021 8:32am Apr 22, 2021 8:32am
*LAGARDE: ECB POLICY WON'T MOVE IN TANDEM WITH FED'S
Think 1.2015 will provide support
Another day, another dollar.
  • #130,636
  • Apr 22, 2021 8:33am Apr 22, 2021 8:33am
Quoting Ata-Turkoglu
I think robber banks just gave bulls a proper kick in the nuts.. lol.. From here now we have to watch 1.2044 resistance area..
Robber bank wake up bro. Lets see how long it can be move
  • #130,637
  • Apr 22, 2021 8:34am Apr 22, 2021 8:34am
Nothing closes above 1.2049 for bearishness.
  • #130,638
  • Apr 22, 2021 8:35am Apr 22, 2021 8:35am
Quoting tonyb123
The current C is what the market has done. The expected numerical C is one line below which did not get touched. If the market cannot make it past 1.2069 It will be going back down to 1.1979 - 1.1959.{image}
Today's high just hit? 1.2069
MY GRID. Markets are NOT random.
  • #130,639
  • Apr 22, 2021 8:46am Apr 22, 2021 8:46am
In my opinion it is just ranging aimlessly a bit.

Maybe better to wait for price to chill or go in volatility buying bottom reversal or selling top reversal.

If it goes down further, Ill probably have new entries if comes up as swiftly back, starting at around 2015.

My buy stop is cancelled in 50minutes. First update would be to move at BE when price reach around 205. Will update if it happens and if anyone is interested


who is lurking
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #130,640
  • Apr 22, 2021 8:50am Apr 22, 2021 8:50am
One major area for bears to defeat so that roads can be cleared: 1.2006/18.... BUT I doubt that it will happen today.. Let's see..

*Same caveat in my head: there are still too many retail sellers!!!
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