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  • #138,381
  • Aug 20, 2021 6:27am Aug 20, 2021 6:27am
Quoting fxsport
{quote} ....What strikes me is the "turn around" in the number of long positions that I'm reading. While I understand rebound (I love to trade Fibs) it strikes me how quickly people "change their mind". Personally I've moved my TP to 1.1640 and I have some buy orders in at 1.1620 as I anticipated a rather fierce drop and rebound in price.
as I can see around FF most RSI CCI MA .... and others show buy @ 1.16700

my pending sell that was @ 1.17083 yesterday, unfortunately didn't execute now removed
Forex can only be understood backwards, but it must be traded forwards.
  • #138,382
  • Aug 20, 2021 7:16am Aug 20, 2021 7:16am
Quoting post
{quote} considering the magnitude of current fall, I am expecting 1.16 handle to generate some bounce before continue to go down again and this would also allow the over sold conditions to be corrected on charts , imo Happy Trading
I agree with you 90%; I'm thinking that 1.1620 "should" hold but that 1.16 would be a buy for me. Let's hope this plays out.
...because you never know - until you do!
  • #138,383
  • Aug 20, 2021 7:18am Aug 20, 2021 7:18am
Quoting prozor7
{quote} as I can see around FF most RSI CCI MA .... and others show buy @ 1.16700 my pending sell that was @ 1.17083 yesterday, unfortunately didn't execute now removed
That's exactly WHY I don't used indicators for signals instead relying on PA and fibs.

When the crowd all follows the same pattern it makes it too easy for the "big banks" to knock out the little guys in this zero sum game we call Forex.
...because you never know - until you do!
  • #138,384
  • Aug 20, 2021 7:20am Aug 20, 2021 7:20am
Currently a very tricky 4th bear wave in place this might extend to 1645 before 1730
  • #138,385
  • Aug 20, 2021 7:32am Aug 20, 2021 7:32am
3RD LOW of the Year FUN ANNIVERSARY SHARES TP hit ! Let's see next week if there is still potential for a fourth...

Quoting mtako
....From a fresh 1H still surprisingly strong surviving momentum setup, despite some really insistent bulls. Sell stop 1.16812 TP LOW OF THE YEAR Have a good night everyone!
+15

Quoting mtako
SOLD HERE 17113, TP LOW OF THE YEAR Happy birthday MTako ! Cheers all !
+7
Quoting mtako
New setup sell stop 1712 TP LOW OF THE YEAR, SL HIGH OF THE YEAR
+18

P.S i am scared for intraday bears IF price gets back soon in the 1680s amid such reach and volatility, and all the bottoms of the last 10+hours!
Attached Image
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #138,386
  • Aug 20, 2021 7:46am Aug 20, 2021 7:46am
Today is about trapping bears, selling insurance
No better bear trap than taking out the low

Careful at the open, a lower print on the ask chart may just be due to your broker widening the spread

Any pending order within 30 isn't safe until Monday morning 5 AM GMT
  • #138,387
  • Aug 20, 2021 7:58am Aug 20, 2021 7:58am
Quoting macdulio
Today is about trapping bears, selling insurance No better bear trap than taking out the low Careful at the open, a lower print on the ask chart may just be due to your broker widening the spread Any pending order within 30 isn't safe until Monday morning 5 AM GMT
Good points, but also always happens before a newer low..

I don't know what will happen... Wont we only know if its a bear trap day today after a significant bulls move?

Just mainly shy new lows and lower highs, in the last hours. Another patience needing day perhaps!
Attached Image
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #138,388
  • Aug 20, 2021 8:11am Aug 20, 2021 8:11am
Well ZZzzzzzzzz

Nothing done today... my weekend starts here.. all orders cancelled as well...

Have a nice a weekend Traders..

Happy Trading
Trades technical moves enforced by fundamentals
  • #138,389
  • Aug 20, 2021 8:33am Aug 20, 2021 8:33am
Quoting post
Well ZZzzzzzzzz Nothing done today... my weekend starts here.. all orders cancelled as well... Have a nice a weekend Traders.. Happy Trading
Huh? After all that struggle, price finally rose above 1.1675 and you are leaving?
Focus only on what truly matters!
  • #138,390
  • Aug 20, 2021 8:41am Aug 20, 2021 8:41am
Quoting Ata-Turkoglu
{quote} Huh? After all that struggle, price finally rose above 1.1675 and you are leaving?
Fridays !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #138,391
  • Aug 20, 2021 8:47am Aug 20, 2021 8:47am
Quoting mtako
{quote} .... selling at 2 consecutive down ticks below that big bull candles low with SL right above it Yes, I know, silly me, I already have a 1670 position... They both would have very different outcomes if the downtrend continues.
Stopped -11. But has same potential. Sell stop 1681 now.

Macdulio's bear trap !? Well done bulls !


Quoting mtako
.... P.S i am scared for intraday bears IF price gets back soon in the 1680s amid such reach and volatility, and all the bottoms of the last 10+hours! {image}
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #138,392
  • Aug 20, 2021 8:57am Aug 20, 2021 8:57am
Done for today! quick and dirty, 40 Ticks from 3 Green candle on M15!!! perfekt
Wish all here have a nice weekend
Change is never easy, but always possible
  • #138,393
  • Aug 20, 2021 8:58am Aug 20, 2021 8:58am
Euro building long.

I take long order from here. Changed to BE ASAP.

Its critical moment for me.
  • #138,394
  • Edited 9:31am Aug 20, 2021 9:12am | Edited 9:31am
Volatility yeeee !

Talking for more than scalps, for me the caveman : 1680s dont like for intraday bears... Under = excellent ! 1h closings UNDER 1690s keep the danger for bulls and more potential for bears still very real.... A close above it and bears would only start to shake, maybe think of putting their honey down.

But I find that if bulls can take it back for a while, right here would be ideal. Bears were sleeping! Wake up bulls and attack before they really wake up!

Bears have been at this for a while, have accumulate quite the momentum, and have not shown much weakness yet. Just slow like the bulls today, till now... But now with this volatility, they might finally make a determinate move.

Probably just ranging 60s-80s though, again. Shifted slightly down, then now slightly back up... Another ranging heaven day!


UPDATE : Sorry for the many typos mates, my voice-text stopped working a few days back... Glad to know you all are smart enough to know that I am not selling at 1780, etc.
Attached Image
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #138,395
  • Aug 20, 2021 9:36am Aug 20, 2021 9:36am
Quoting mtako
{quote} Good points, but also always happens before a newer low.. I don't know what will happen... Wont we only know if its a bear trap day today after a significant bulls move? Just mainly shy new lows and lower highs, in the last hours. Another patience needing day perhaps! {image}
I don't guess, I measure.
Until an RSI2 prints below 2.3
All dips are a buy
  • #138,396
  • Aug 20, 2021 9:48am Aug 20, 2021 9:48am
Quoting macdulio
{quote} I don't guess, I measure. Until an RSI2 prints below 2.3 All dips are a buy
I never said you guessed or anything close... I was actually sharing your view, pointing out your good points, as well as adding a different perspective on the matter :

Quoting mtako
{quote} Good points, but also always happens before a newer low.. I don't know what will happen... Wont we only know if its a bear trap day today after a significant bulls move? Just mainly shy new lows and lower highs, in the last hours. Another patience needing day perhaps! {image}
Sorry for the misunderstanding... I am appreciating your shares as always !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #138,397
  • Aug 20, 2021 9:50am Aug 20, 2021 9:50am
While above 1.1675 (1.16742 to be precise) bulls have the upper hand.. Let's hope it stays that way.. BUT remember: Nothing is for granted folks.. Those who are buying should never put their guards down..
Focus only on what truly matters!
  • #138,398
  • Aug 20, 2021 10:01am Aug 20, 2021 10:01am
I made some little alterations on my M30 chart.. and I think now it sums up everything nicely..

*The blue colored very last edge of the descending line is what I am relying on the most as support! The blue line area starts from 1.1675 until 1.16675, where anticipation wise, the potential hours of low volume would start..
Attached Image (click to enlarge)
Click to Enlarge Name: M30.png Size: 31 KB
Focus only on what truly matters!
  • #138,399
  • Edited 1:44pm Aug 20, 2021 10:21am | Edited 1:44pm
[quote=EllaCen;13676072]Done for today! quick and dirty, 40 Ticks from 3 Green candle on M15!!! perfekt Wish all here have a nice weekend[/quote
enjoy your weekend also and congrats with your perekt!
  • #138,400
  • Aug 20, 2021 10:51am Aug 20, 2021 10:51am
Quoting fxsport
{quote} Yesterday didn't get as low as I had planned and PA has rebounded a little more than I had anticipated. {image} What strikes me is the "turn around" in the number of long positions that I'm reading. While I understand rebound (I love to trade Fibs) it strikes me how quickly people "change their mind". Personally I've moved my TP to 1.1640 and I have some buy orders in at 1.1620 as I anticipated a rather fierce drop and rebound in price.
Update:

I don't know what happened - I expected today, a FRIDAY, to drop off. I expected this guy to show up:

Attached Image

Instead the market sent me this guy....

Attached Image
...because you never know - until you do!
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