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  • #132,021
  • May 12, 2021 1:51am May 12, 2021 1:51am
Based on H1, this is roughly where we are right now..

I have 1.2123 area as support.. 1.2135 might slow down bulls.. Overall bull limit seems to be around 1.2156..
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Focus only on what truly matters!
  • #132,022
  • May 12, 2021 1:57am May 12, 2021 1:57am
Quoting fxpipper
{quote} This trade didn't pan out yesterday, so I had to abort halfway through with a small profit. Large double top 3/4 of the way formed on the H4. Shorting again now from 2166, targeting same 2095 area. Then will start buying in that area to catch the next impulse leg of the uptrend. Or I could be wrong and it will start before then, but I doubt it will happen during the Asian session. Either way risk is managed. May add another short on the way down.
Exited my short at 2125 and picked up a nice 40+ pips. Was thinking about reentering short again at around 2130 or so, but it’s too risky. Looks like it wants to go up.

I’m not sure this is the official start of the next impulse higher or not. I still believe it may go down to 2090 - 2100….but very very slowly. I’m not comfortable betting money on it at this stage. Might as well just call it a night. It’s way past my bedtime.
  • #132,023
  • May 12, 2021 3:15am May 12, 2021 3:15am
bought 2127!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #132,024
  • May 12, 2021 3:16am May 12, 2021 3:16am
Quoting Wavegarrick
{quote} Hi Mizi, Thanks for pointing this out Bud. As always I take note of your valuable analysis. cheers Leon
Hi Guys,
I am getting subtle bearish signals from a 4 Hr perspective. Short trade added with a 25 pip stop loss. I could look to add more on retraces.
Have a great week.
Cheers.
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Trade to trade another day
  • #132,025
  • May 12, 2021 3:21am May 12, 2021 3:21am
Quoting mtako
bought 2127!
buy stop 21356
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #132,026
  • May 12, 2021 3:32am May 12, 2021 3:32am
follow the trade banks
The Average Discount Everything
  • #132,027
  • Edited 3:59am May 12, 2021 3:36am | Edited 3:59am
Morning all great trading morning for me up to now. Hope you all are doing good.

The Great 2142! Boy how many times has it been an important level for me ! And it has just resisted very clearly. If soon starts holding long enough under 2132, bears will most probably retest the 2110s and probably take it to 2080s-2100s, where I would determine where I close some of my older longs again, once volatility has stopped growing for a good hour, as usual. If 2142 is retested, good chance it will be broken and we will not see 2110s soon. But it all depends how it would be retested. Watching carefully.

Quoting mtako
... It all depends on how price acts in the 2090s to 2110s Time for more patience I hear crickets. Im done for the day, unless I hear my weeks highs or lows alerts go off. Cheers all!
Support rejection in the 2110s earlier was perfect! Although I wouldnt be surprised to see it retested soon, especially if it goes back under 2135 a good hour before another 2140s, if that is ever reached again.


Got in a few new longs already, among them a new longer term pull back trade and a couple of scalps now at BE, as usual. 3 will survive if we dont get back down to 2121. That would be nice.

Will keep on taking longs aggressively, for now and as long as we stay above 2117 and till 2165, and if we get there, then see how it reacts at the top of the range. I would ideally want for the top to be properly broken and then catch a pullback happening above that top.

As for the one I shared hours ago :
Quoting mtako
buy stop 1.21384

SL moved to BE the second 2149 is hit.

got 2 new buy stops 1.21429 and 1.21494

As long as volatility stays this high and no 2nd 15m low is broken(closed below) from now on, I probably will have 3-4 setups confirmed per hour. Would exit some of these next trades probably just as fast as they are entered if price reverses enough to disturb the present bulls momentum. If I even ever get there

Now can rest at last for the first time today and start reading your very much appreciated posts with a good expresso !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #132,028
  • May 12, 2021 3:43am May 12, 2021 3:43am
Quoting hesron
follow the trade banks
How do you do it? Where do you get the proper information?
  • #132,029
  • May 12, 2021 3:48am May 12, 2021 3:48am
Quoting Ata-Turkoglu
{quote} I normally check open lot size statistics of real accounts listed at the bottom on home page of FF every 4 hours or so.. Once I see a 10% change between two 4 hour candle openings I begin to watch statistics every hour or so.. Now.. as long as buyers are below 42% I think bullish.. Between 43 and 54% I only scalp and have a neutral bias.. Once buyers reach 55% and higher I switch to bullish.. I hope it helps...
Thank you for your reply, Ata.
Based on FF calendar, how do you trade when it releases the news? Or based on technical analysis only?
  • #132,030
  • May 12, 2021 4:05am May 12, 2021 4:05am
Quoting Jabizman02
{quote} Thank you for your reply, Ata. Based on FF calendar, how do you trade when it releases the news? Or based on technical analysis only?
I don't use FF calendar.. Only highly major news matter to me, like NFP, FOMC, FED rates or ECB rates announcements.. You get the idea.. And based on these news I wait roughly 30 min. on side lines: 15 min. before and after news announcements..
Focus only on what truly matters!
  • #132,031
  • Edited 4:42am May 12, 2021 4:24am | Edited 4:42am
Based on H1, I am marking 1.2123/33 as main support.. While M15 candles open above 1.2127 bulls have the upper hand!

*Just checked FF retail statistics and now long/short ratio is 50/50... Meaning: sideways pa can be expected.. My bias is neutral!
**False alarm: Now statistics show 35% long.. I don't know why this jumped like this while price didn't even change much.. I think many impatient buyers closing positions! Better for longs!
Focus only on what truly matters!
  • #132,032
  • Edited 5:27am May 12, 2021 5:02am | Edited 5:27am
With such slow movements I can already give you my S/R levels for tomorrow..

My guess is: Bulls will eventually try to retest 1.2175/92 area and probably break it.. Time will tell

*Edit: meanwhile more and more retail buyers are giving up.. maybe even switch to selling.. Smart money will take advantage of that and soon price will probably shoot up! Patience!
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Focus only on what truly matters!
  • #132,033
  • May 12, 2021 5:45am May 12, 2021 5:45am
Hi,
i expect a move down to 2110 area and then up. If we bounce there, I will buy...

Best
Chriss
  • #132,034
  • Edited 6:19am May 12, 2021 6:04am | Edited 6:19am
watch out longs !?
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  • #132,035
  • May 12, 2021 6:58am May 12, 2021 6:58am
Quoting mtako
... Support rejection in the 2110s earlier was perfect! Although I wouldnt be surprised to see it retested soon, especially if it goes back under 2135 a good hour before another 2140s, if that is ever reached again. ...
Action ! buy stop 1.21231. SL low of the day.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #132,036
  • May 12, 2021 7:13am May 12, 2021 7:13am
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The Average Discount Everything
  • #132,037
  • May 12, 2021 7:18am May 12, 2021 7:18am
I'm putting on my seer hat and this is what I believe will occur:

CPI numbers higher than warranted - markets get spooked - big spike down but transitory. 1.2080 holds ...markets stay down waiting for NYSE to open which it will down big.

Around 10ish the NYSE "should" start to climb upward - look at what happened yesterday at Nasdaq recovered 1% in the afternoon session.

Of course this is total speculation and pure fiction....or is it??
Attached Image
...because you never know - until you do!
  • #132,038
  • May 12, 2021 7:20am May 12, 2021 7:20am
New set up Buy stop 1.21191, expires in 40m. .
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #132,039
  • May 12, 2021 7:21am May 12, 2021 7:21am
time to buy with strong demand in new york session
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The Average Discount Everything
  • #132,040
  • May 12, 2021 7:34am May 12, 2021 7:34am
Quoting energies
watch out longs !? {image}
..i told ya !
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