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  • #1,193,641
  • May 3, 2021 9:52am May 3, 2021 9:52am
Quoting PatienceFx
{quote} day pivot
Also weekly. Both good scalping compass.
Only an idiot knows with certainty to where the market is going.
  • #1,193,642
  • May 3, 2021 9:54am May 3, 2021 9:54am
Quoting OnlineAddict
Hopefully it will go up to 2060-80 next week, to re-add shorts.
Thanks, market.
Everyone can see the chart, but only a few can actually read it.
  • #1,193,643
  • May 3, 2021 10:01am May 3, 2021 10:01am
Quoting Techanalyst
{quote} Do you see and understand now, just looking at the charts alone, can trick you and go the opposite way...
Well, it still needs time to play out. The bearish activity could resume. Now if it closes above 21494, then that will invalidate the idea.

I took a risk trading against the trend. I normally wouldn't do that. If I win, then I win. If I lose, then I lose. That's just the way it is. You can't get it right all the time.

But maybe I am wrong about COT. Time will tell.
Learn from your mistakes and march on.
  • #1,193,644
  • May 3, 2021 10:03am May 3, 2021 10:03am
Quoting here2there
{quote} Well, it still needs time to play out. The bearish activity could resume. Now if it closes above 21494, then that will invalidate the idea. I took a risk trading against the trend. I normally wouldn't do that. If I win, then I win. If I lose, then I lose. That's just the way it is. You can't get it right all the time. But maybe I am wrong about COT. Time will tell.
The 2149 that is like 80 pips away. I entered long and I see this going to at least 1.21 and up, for now. It is not just the COT, it is all the tools combined and plus decision that you make to either buy or sell.
  • #1,193,645
  • May 3, 2021 10:07am May 3, 2021 10:07am
Quoting Techanalyst
{quote} The 2149 that is like 80 pips away. I entered long and I see this going to at least 1.21 and up, for now. It is not just the COT, it is all the tools combined and plus decision that you make to either buy or sell.
Note: 21494 is the previous monthly high.
Learn from your mistakes and march on.
  • #1,193,646
  • May 3, 2021 10:08am May 3, 2021 10:08am
Quoting here2there
{quote} Note: 21494 is the previous monthly high.
But previous monthly high doesn't really tell me anything at all, the fact that it is just a previous month high.
  • #1,193,647
  • May 3, 2021 10:12am May 3, 2021 10:12am
Quoting Techanalyst
{quote} But previous monthly high doesn't really tell me anything at all, the fact that it is just a previous month high.
If it closes above the previous monthly high, then it is more likely this was a bear trap and the bullish trend will resume. Previous monthly high, previous weekly high, monthly open, weekly open, are all significant levels.
Learn from your mistakes and march on.
  • #1,193,648
  • May 3, 2021 10:14am May 3, 2021 10:14am
Quoting here2there
{quote} If it closes above the previous monthly high, then it is more likely this was a bear trap and the bullish trend will resume. Previous monthly high, previous weekly high, monthly open, weekly open, are all significant levels.
Never really cared about previous highs and lows as it never really mattered in trading. I look at the macro, COT, sentiments, and supply/demand.
  • #1,193,649
  • May 3, 2021 10:15am May 3, 2021 10:15am
To me it looks like we're just retesting the minor structure that broke Friday. With falling volume, obv divergence. I'm still seeing bearish signs but I may be wrong. I entered early on the 4 hour close below this zone. But if 4 hour doesn't achieve a close above 1.209 I think its another good sign for bears.
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  • #1,193,650
  • May 3, 2021 10:24am May 3, 2021 10:24am
Quoting Techanalyst
{quote} Never really cared about previous highs and lows as it never really mattered in trading...
It matters for my strategies.
Learn from your mistakes and march on.
  • #1,193,651
  • May 3, 2021 10:36am May 3, 2021 10:36am
Bounced from 100 sma on 4 hour chart, bearish yet, below the red area.

Attached Image (click to enlarge)
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Looking for profitable short term trades ...|
  • #1,193,652
  • May 3, 2021 10:53am May 3, 2021 10:53am
Attached Image
Only an idiot knows with certainty to where the market is going.
  • #1,193,653
  • May 3, 2021 10:57am May 3, 2021 10:57am
Quoting Js3mwtRc
...2000 2065 2100 2150...
Price did 11/12 pips above this level and bounced back, this may be what bears want!

Price has memory, we people forget, cpu's have the advantage here.
Looking for profitable short term trades ...|
  • #1,193,654
  • May 3, 2021 12:13pm May 3, 2021 12:13pm
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These are my short positions and SL . A move above 1.2079 will indicate I am wrong......

  • #1,193,655
  • May 3, 2021 12:15pm May 3, 2021 12:15pm
Quoting Js3mwtRc
{quote} Price did 11/12 pips above this level and bounced back, this may be what bears want! Price has memory, we people forget, cpu's have the advantage here.
I noticed that EURUSD hit the 78.6 Fib on the Daily and reversed. 78.6 is considered to be a significant reversal level. Just saying.

Attached Image (click to enlarge)
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Learn from your mistakes and march on.
  • #1,193,656
  • May 3, 2021 12:22pm May 3, 2021 12:22pm
Quoting here2there
{quote} I noticed that EURUSD hit the 78.6 Fib on the Daily and reversed. 78.6 is considered to be a significant reversal level. Just saying. {image}
There are high chances that it was the end of the upleg and that we are going into a third wave (at 4 hours) down below 1.2000.
Looking for profitable short term trades ...|
  • #1,193,657
  • May 3, 2021 12:32pm May 3, 2021 12:32pm
The struggle is real for day traders.
  • #1,193,658
  • May 3, 2021 12:55pm May 3, 2021 12:55pm
Quoting Techanalyst
The struggle is real for day traders.
I am not fond of day trading. I am more of a positional trader these days. I only need 200 pips positive a month. But sometimes I like to have gravy on top of my mashed potatoes.
Learn from your mistakes and march on.
  • #1,193,659
  • May 3, 2021 3:01pm May 3, 2021 3:01pm
Quoting here2there
{quote} I am not fond of day trading. I am more of a positional trader these days. I only need 200 pips positive a month. But sometimes I like to have gravy on top of my mashed potatoes.
The price is at 1.2063 stuck around there. What next????????????????????
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  • #1,193,660
  • May 3, 2021 3:25pm May 3, 2021 3:25pm
Quoting Techanalyst
{quote} The price is at 1.2063 stuck around there. What next???????????????????? {image}
We have to wait for it to get unstuck.
Learn from your mistakes and march on.
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