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  • #138,181
  • Aug 18, 2021 7:22am Aug 18, 2021 7:22am
Quoting mtako
...Conditions make it a good chance of this ranging to continue from now till the news comes, especially if we get back up above 17135(buy scalp region !) again before hitting a new low. But we can still get a big surprise of course. Always expecting the unexpected ! {quote} I heard the fireworks in my sleep when the years low was hit!! I love those moments ! Had a nice day away from the screen and with a loved one. Your likes make my day. Thank you all dearly. P.S waiting for news to pass to update my live shared shorts. {image}
I don't know if anyone is interested, but just in case :

When my range trade entry is immediately followed by a *2 of the average candle move(in this case 15m),like it happened here, I dont take usual TP at other side of range.

I place SL at BE and wait to see if price tests the ranges high and if so, place a trailing stop from my usual TP point, which is also very often a reversal range trading point, in this case it is right here, at 1724. Sometimes a range trade like this becomes a countertrend trade with extra tight stop .
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #138,182
  • Aug 18, 2021 7:46am Aug 18, 2021 7:46am
Quoting josip
my view to get lower, we need to cross green bottom line {image}
Hi,

Kindly Share your indicators plz. Thanks in advance!
  • #138,183
  • Aug 18, 2021 8:05am Aug 18, 2021 8:05am
I re-sold 1.1721 but very tight stops.. Little risk only! My mental SL is at 1.1727.. A touch to it and I accept the loss without hesitation!
Focus only on what truly matters!
  • #138,184
  • Aug 18, 2021 8:05am Aug 18, 2021 8:05am
Quoting Wavegarrick
{quote} Hi Guys, This is one of those times that I have to concede that I was wrong. A case of where the fundamentals have thrown techs out of the door. I was fortunate enough to offset a winning trade against some losers and did not come out too bad. I am in with a quick buy trade for a target towards my daily pivot at 1.17318 and will look for possible reversal signals to get into the downtrend. Have a great day, Cheers. {image}
Anyway Folks.
I am getting sell confirmation signals from a 4hr perspective. In with some sell trades 25 pip s/loss. I don't fancy selling this low so will lock in as soon as I can. We just never know if this momentum will continue.
Trade safe,
Cheers.
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Trade to trade another day
  • #138,185
  • Aug 18, 2021 8:14am Aug 18, 2021 8:14am
Quoting Ata-Turkoglu
I re-sold 1.1721 but very tight stops.. Little risk only! My mental SL is at 1.1727.. A touch to it and I accept the loss without hesitation!
Taking profit here at 1.1712.. +9 pips..

*My monthly support is right at 1.17135... Again: Bears need to be careful!
Focus only on what truly matters!
  • #138,186
  • Aug 18, 2021 8:17am Aug 18, 2021 8:17am
Quoting Marcieny
{quote} Hi Leon. News about afghanistan messed up the charts a bit, this caused opposite moves to occur... But I liked the price retraction to re-enter or wait longer. Cheers.
Hi Marcieny,
Nice to see you here. Yes, we never know. It is the second time this level has been tested this year. My original thought was for a nice bounce from here but possibly after testing 1.1600. We shall see and I take it for what it is in the here and now.
Keep well,
Cheers
Leon
Trade to trade another day
  • #138,187
  • Aug 18, 2021 8:21am Aug 18, 2021 8:21am
In anticipation of an upcoming uptrend, I think it still could take 2 or 3 days until a solid base appears.. Therefore if fomc doesn't give us the buying-dips opportunity this week then I don't mind waiting until next week.. Monday or maybe Tuesday.. Just thinking out loud!
Focus only on what truly matters!
  • #138,188
  • Aug 18, 2021 8:39am Aug 18, 2021 8:39am
Quoting mtako
...Conditions make it a good chance of this ranging to continue from now till the news comes, especially if we get back up above 17135(buy scalp region !) again before hitting a new low....{image}

Quoting mtako
{quote} I don't know if anyone is interested, but just in case : When my range trade entry is immediately followed by a *2 of the average candle move(in this case 15m),like it happened here, I dont take usual TP at other side of range. I place SL at BE and wait to see if price tests the ranges high and if so, place a trailing stop from my usual TP point, which is also very often a reversal range trading point, in this case it is right here, at 1724. Sometimes a range trade like this becomes a countertrend trade with extra tight stop ....
And again going in circles ?! getting ready for one last one !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #138,189
  • Aug 18, 2021 9:15am Aug 18, 2021 9:15am
Quoting Ata-Turkoglu
In anticipation of an upcoming uptrend, I think it still could take 2 or 3 days until a solid base appears.. Therefore if fomc doesn't give us the buying-dips opportunity this week then I don't mind waiting until next week.. Monday or maybe Tuesday.. Just thinking out loud!
Am I correct in interpreting that above post that you are convinced that the 1.17 handle will hold? Curious...
...because you never know - until you do!
  • #138,190
  • Aug 18, 2021 9:17am Aug 18, 2021 9:17am
Volatility dancing time !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #138,191
  • Aug 18, 2021 9:28am Aug 18, 2021 9:28am
Quoting mtako
{quote} {quote} And again going in circles ?! getting ready for one last one !
Quoting mtako
... Bloody scalping heaven my friends ! Conditions make it a good chance of this ranging to continue from now till the news comes, especially if we get back up above 17135(buy scalp region !) again before hitting a new low. But we can still get a big surprise of course. Always expecting the unexpected ! {quote} I heard the fireworks in my sleep when the years low was hit!! I love those moments ! Had a nice day away from the screen and with a loved one. Your likes make my day. Thank you all dearly. P.S waiting for news to pass to update my live shared...

First cycles of range trading is over for me. Levels shifted down (TP now lowered by 3 pips !)in a way that reward for my last entry is not worth it, closed at BE and waiting for price get far enough from this +-10pips range again. There could be another round before the big news!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #138,192
  • Aug 18, 2021 9:36am Aug 18, 2021 9:36am
Quoting fxsport
{quote} Am I correct in interpreting that above post that you are convinced that the 1.17 handle will hold? Curious...
Let's say I am "cautious"... I still don't know if 1.1693/1.1713 area will support.. We still depend on a lot of "if"s.. Just want to stay on side lines for now.. But if price pierces back to 1.1721 area I would look to scalp-sell again for 10 to 15 pips max..

*Overall I am relying on 1.1740 based on H4, to keep my bearish bias.. As long as that level is not violated I wish to keep selling pullbacks!
Focus only on what truly matters!
  • #138,193
  • Aug 18, 2021 9:38am Aug 18, 2021 9:38am
Nothing fancy with this currency pair now. Very mixed signal at the currently levels 1718 is the line in the sand now. We could see potential sub 1.17 into 1683 -1647 before any rise
  • #138,194
  • Aug 18, 2021 9:47am Aug 18, 2021 9:47am
Reversal volatility scalp ! First of the day ! buy stop 1.17124!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #138,195
  • Aug 18, 2021 9:53am Aug 18, 2021 9:53am
What a morning....since selling too early yesterday I've gone and taken a hit on that but I've been able to sell at 1.1720ish twice for 10 pips each time so it wasn't a total loss. Right now it's just this back and forth motion that tires me out...
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...because you never know - until you do!
  • #138,196
  • Aug 18, 2021 9:53am Aug 18, 2021 9:53am
Price is dancing between Daily pivot and psychological level 1.17000.
If 1.17000 breaks, we may reach 1.16826 - Daily S1 level.
However, Selling near Pivot seems like a positive approach.
Time will tell.

Still the red flag news FOMC is there to throw away any analysis, or may be complement the analysis.
So, basically, proactively managing the trades as per our analysis, is something we need to rely on.

Edit: or may be we get a bounce back up from 1.170xx to reach back up to Daily R1 at 1.17591

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  • #138,197
  • Aug 18, 2021 9:57am Aug 18, 2021 9:57am
We are going up no matter of news.
Just another opinion.
  • #138,198
  • Aug 18, 2021 10:04am Aug 18, 2021 10:04am
Quoting Wavegarrick
{quote} Hi Marcieny, Nice to see you here. Yes, we never know. It is the second time this level has been tested this year. My original thought was for a nice bounce from here but possibly after testing 1.1600. We shall see and I take it for what it is in the here and now. Keep well, Cheers Leon
Just to add on to my thoughts with Marcieny. If I zoom out to the weekly timeframe I can see a possible AB=CD pattern forming which leaves me at 1.16234 ish (green highlight). Anything below that towards my 50% fib retrace at 1.14881 is money for jam. Something Robinhood has eluded to and not impossible in my opinion. Just will take time.
Could be wrong of course. Let's see what FOMC does.
Cheers.
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Trade to trade another day
  • #138,199
  • Aug 18, 2021 10:14am Aug 18, 2021 10:14am
To test waters I am daring a scalper-buy order here at 1.1707... Stops a little below 1.1690..
(Don't try at home)
Focus only on what truly matters!
  • #138,200
  • Aug 18, 2021 10:20am Aug 18, 2021 10:20am
Quoting Wavegarrick
{quote} Just to add on to my thoughts with Marcieny. If I zoom out to the weekly timeframe I can see a possible AB=CD pattern forming which leaves me at 1.16234 ish (green highlight). Anything below that towards my 50% fib retrace at 1.14881 is money for jam. Something Robinhood has eluded to and not impossible in my opinion. Just will take time. Could be wrong of course. Let's see what FOMC does. Cheers. {image}
Our thinking is the same. I got the AB-CD on the weekly as well, but more importantly, a potential Cypher in between two 13 week cycles, with D terminating somewhere close to end September. By the way, this is also where I got my bottom zone from.

Guy
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