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  • #132,321
  • May 17, 2021 5:42am May 17, 2021 5:42am
Done for the day, closed all my positions with an excess of 50 pips. What a day! By the way, does anyone else have this strange opening candle with hardly any body on H1 that occured with my broker with the beginning of the Asian session my yesterday late evening?
Attached Image (click to enlarge)
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  • #132,322
  • May 17, 2021 5:51am May 17, 2021 5:51am
Quoting nic9man
{quote} Hey Ata, do you see a short opportunity (or danger for longs) from the 1.22 resistance I showed in the graph I posted earlier? For me it is not clear, because breaching 1.2175 could also give a huge push.
Long answer: Here are my DAILY S/R levels for Tuesday already.. Now as you can see no danger until 1.2192/1.2205 area.. In other words: As long as price is above 1.2119 I keep buying dips..

Short answer: Keep buying dips and be careful the closer we get to 1.2200...
Focus only on what truly matters!
  • #132,323
  • May 17, 2021 5:57am May 17, 2021 5:57am
Quoting Ata-Turkoglu
{quote} Based on my pearlier H4 sharing, no surprises so far.. I have a long from 1.2128, stops at BE now.. Depending on London pa I might keep trailing SL.. Happy trading week to all
Closing order here at 1.2168 with +40 pips.. Nice start for the week

*Will wait on side lines until I see a new buy opportunity..
Focus only on what truly matters!
  • #132,324
  • May 17, 2021 6:05am May 17, 2021 6:05am
Quoting Ata-Turkoglu
{quote} Long answer: Here are my DAILY S/R levels for Tuesday already.. Now as you can see no danger until 1.2192/1.2205 area.. In other words: As long as price is above 1.2119 I keep buying dips.. Short answer: Keep buying dips and be careful the closer we get to 1.2200...
Thanks man - let me ask another way - upon reaching 1.22, which support would you expect to hold if we were to stay in the bullish scenario? 1.2175?

Is it not almost for certain that upon touching 1.22 we will retest 1.2175?
Another day, another dollar.
  • #132,325
  • May 17, 2021 6:17am May 17, 2021 6:17am
Quoting nic9man
{quote} Thanks man - let me ask another way - upon reaching 1.22, which support would you expect to hold if we were to stay in the bullish scenario? 1.2175? Is it not almost for certain that upon touching 1.22 we will retest 1.2175?
Okay.. to answer to your own question in the future this is what I would recommend you to do:

Let's say you opened H4 chart..

First you detect your main support: In our case that is the TL labeled Main A! Now you clone that line to the high and get an estimated channel.. I labeled it as Projection A.. All you have to do is waiting for price to reach that line if you are looking for quick bullish targets..

Same goes for resistance.. Once you detect the current main resistance, In our case it is the red Main B line.. You clone it to the low and that way you get your projected deepest support line, labeled as Projection B..

That way now you know where your supportive range sits.. In our case it is between 1.2024 and 1.2100 for the short term future.. f you want a longer term future view apply same logic on higher time frames.. Easy peasy, japaneesy.. I hope it helps

*You always must clone your Projection A line to the starting point of Main B and Projection B line to the starting point of Main A
Attached Image (click to enlarge)
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Focus only on what truly matters!
  • #132,326
  • May 17, 2021 6:47am May 17, 2021 6:47am
Based on M15, I am expecting 1.2160 area to resist for a while.. which could give scalpers some short term sell opportunities..
Focus only on what truly matters!
  • #132,327
  • May 17, 2021 7:04am May 17, 2021 7:04am
Bears having their go with volatility. As long as it stays above 2130, Im taking all longs still. Just got stopped out 1 at BE and another -4. Got in another from a scalp countertrend, 2149. So far so good.


Waiting for energies to make me laugh !!!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #132,328
  • May 17, 2021 7:15am May 17, 2021 7:15am
Quoting Traderview
{quote} Took me @BE. Sidelines.
1.2167 worked pretty well so far. Trading @ BE now. I should have stick to my pending instead of entering early.
As i said before 1.2136 is very important.

Lets see
  • #132,329
  • May 17, 2021 7:28am May 17, 2021 7:28am
Quoting Traderview
{quote} 1.2167 worked pretty well so far. Trading @ BE now. I should have stick to my pending instead of entering early. As i said before 1.2136 is very important. Lets see
Closing it @ 1.2136. 30 pips bagged.
  • #132,330
  • May 17, 2021 7:28am May 17, 2021 7:28am
My levels in case of a down move, updated :

Right now, for me, as long as we stay above 2130(dynamic level moving up), intraday bulls momentum is fine enough to take as many setups that turn up.

Got a new scalp at 2137.

Under 2130, only some countertrend scalp and a possible longer-term pullback trend trade.

Under 2116, only scalps and volatility longs that have to end back above that level before volatility ceases to increase, and longer-term pullback in trend trade
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #132,331
  • May 17, 2021 7:35am May 17, 2021 7:35am
1.2110 or so could be the ultimate level of the drop if I had to guess. At least my broker indicates so... :-)
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  • #132,332
  • May 17, 2021 7:41am May 17, 2021 7:41am
Bought at 2142 for a bottom of range trade. Bottom of range will be confirmed or put on hold soon.

Would be nice to have 2140s as a bottom again ! Would sure give extra protection to Fridays longs. If best case scenario happens will have a 2157 entry soon and lower ones will all be at BE again.

Thank you all of you who have stayed positive in your thoughts and in your great shares. Thank you Ata. Cheers all, take good care now and stay light-hearted
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #132,333
  • May 17, 2021 8:03am May 17, 2021 8:03am
Quoting Ata-Turkoglu
{quote} Closing order here at 1.2168 with +40 pips.. Nice start for the week *Will wait on side lines until I see a new buy opportunity..
how do you determine your TP? Do you just watch PA or do you have some type of level/indicator at your TPs
  • #132,334
  • May 17, 2021 9:24am May 17, 2021 9:24am
Still in my short @ 2147 which of course is dead in the middle of the current range. Classic trading strategy of mine. Stuck in the middle. Who else is with me? lol
--post hoc ergo propter hoc--
  • #132,335
  • May 17, 2021 9:31am May 17, 2021 9:31am
Quoting Kyuu
{quote} how do you determine your TP? Do you just watch PA or do you have some type of level/indicator at your TPs
Normally this would take a whole semester to explain.. But I keep it short:
The crux of successful trading is hidden in trend following.. But the crux of trend following is hidden in first getting your angles right.. Once you have the correct angle (which never lasts forever and has to be altered at certain intervals) you can clone them at every high or low and for a certain amount of time you will easily see where to get out and where to aim..

Finally... in any case where you realize after you get out that trend actually wants to continue you simply hop back in.. The rest is rinse and repeat.. I hope it explains..

*red arrows on image are examples where one could set the targets once angles are cloned..
Attached Image
Focus only on what truly matters!
  • #132,336
  • May 17, 2021 9:53am May 17, 2021 9:53am
Quoting energies
...this way ! {image}
Awesome how you predict the next 5 turning points directly
Another day, another dollar.
  • #132,337
  • May 17, 2021 10:11am May 17, 2021 10:11am
Quoting energies
...this way ! {image}
There is a potential Gartley hidden when price hits your channel median line.. Those are areas where the cookie crumbles and that's why there are always more than one possibilities in every assumption or projection.. It is never one way!

*On a side note: still too many retail sellers.. We better think bullish!
Focus only on what truly matters!
  • #132,338
  • May 17, 2021 10:52am May 17, 2021 10:52am
Quoting Ata-Turkoglu
Based on M15, I am expecting 1.2160 area to resist for a while.. which could give scalpers some short term sell opportunities..
We arrived at those minutes where what I said hours ago is now at play.. Watch resisting pa at 1.2160! Probably bears will take it lower one more time..
Focus only on what truly matters!
  • #132,339
  • May 17, 2021 11:03am May 17, 2021 11:03am
Meanwhile on H4...

I am adding a potential Gartley (but for now no signs of bears that could confirm this pattern.. I am only mentioning it in case we see clear rejection around 1.2162/77)

Again: That's not the case yet so nothing for granted and I stay bullish until pa shows bearish behavior.. (in other words ignore this pattern as long as 1.2141 area supports)
Attached Image (click to enlarge)
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Focus only on what truly matters!
  • #132,340
  • May 17, 2021 11:55am May 17, 2021 11:55am
Quoting Monk
Still in my short @ 2147 which of course is dead in the middle of the current range. Classic trading strategy of mine. Stuck in the middle. Who else is with me? lol
Me too,
first tp @ 21300.. entry around 2160...

Best
Chriss
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