Well that rise caught me by surprise, most of my shorts now under water. Holding for now to see if we head back to 730 so I can get out with a couple pips.
3
- #138,624
- Aug 25, 2021 7:28am Aug 25, 2021 7:28am
- Joined May 2014 | Status: Full Time Trader | 27,148 Posts
{quote} Hey! So you have repeatedly said that you're leaning bearish for some time now. There's a clear descending wedge on the daily and it looks like its coming to its bottom, suggesting a case for a strong rise. Maybe I've missed something here, but do you mind sharing how you rationalize this? Not trying to contradict you, just looking to learn. And opposing the forces of this wedge is a LIKELY drop following the imminent Jackson Hole summit. Does this factor into your analysis at all? Thanks!
- This week 1.1750 will keep resisting! But next week things might change!
- For "today" I am still bearish but maybe tomorrow I can switch.. For now 1.1750 is resisting (I think!)
- Based on the saying: "It's gonna get worse before it gets better", we still should see a drop first before it goes up! (i.e. Bear trap)
- If 1.1750 doesn't hold I just lose a trade.. I have my stops.. I know my risk..
- We have no clear base yet!
Therefore I keep selling the tops.. Targeting 1.1690/1.1715 area 
Focus only on what truly matters!
- #138,625
- Aug 25, 2021 7:36am Aug 25, 2021 7:36am
- Joined Jun 2018 | Status: An ordinary brother | 4,596 Posts
{quote} My logic is: This week 1.1750 will keep resisting! But next week things might change! For "today" I am still bearish but maybe tomorrow I can switch.. For now 1.1750 is resisting (I think!) Based on the saying: "It's gonna get worse before it gets better", we still should see a drop first before it goes up! (i.e. Bear trap) If 1.1750 doesn't hold I just lose a trade.. I have my stops.. I know my risk.. We have no clear base yet! Therefore I keep selling the tops.. Targeting 1.1690/1.1715 area
{quote} My logic is: This week 1.1750 will keep resisting! But next week things might change! For "today" I am still bearish but maybe tomorrow I can switch.. For now 1.1750 is resisting (I think!) Based on the saying: "It's gonna get worse before it gets better", we still should see a drop first before it goes up! (i.e. Bear trap) If 1.1750 doesn't hold I just lose a trade.. I have my stops.. I know my risk.. We have no clear base yet! Therefore I keep selling the tops.. Targeting 1.1690/1.1715 area
Like I said yesterday or the day before, there was a market gap in 17600 which has been filled already, and now we going down to the levels u mentioned. That 17150 is the key area for now that has to be hit for further information on possible future movement. But thats just the way Im seeing the chart, might be wrong, might be right, who knows..
A vision without action is merely a dream.
- #138,629
- Aug 25, 2021 7:50am Aug 25, 2021 7:50am
- Joined May 2014 | Status: Full Time Trader | 27,148 Posts
{quote} + We are in the 0.618/0.786 FIB region and continuously making LH in H1/M30, which shows that the bear presence in this region is significant and is rejecting the bull power. Like I said yesterday or the day before, there was a market gap in 17600 which has been filled already, and now we going down to the levels u mentioned. That 17150 is the key area for now that has to be hit for further information on possible future movement. But thats just the way Im seeing the chart, might be wrong, might be right, who knows..
*Based on DAILY, the right shoulder of a potential inverted H&S pattern is missing..
Focus only on what truly matters!
- #138,630
- Aug 25, 2021 7:54am Aug 25, 2021 7:54am
- Joined Oct 2013 | Status: Trader | 1,079 Posts
Cracked 1k today. Almost ran out of time with my hectic work schedule today that involved painting, PPMS, team meeting, escorting Mewp support, fire evacuation - I made £80 with these efforts - wrong profession? {image}
Trying to think of what happened in 1987.
I was 14. Went from primary to secondary. All familiar faces were traded for unfamiliar ones.
Almost my monthly salary.
- #138,632
- Aug 25, 2021 8:13am Aug 25, 2021 8:13am
- Joined May 2014 | Status: Full Time Trader | 27,148 Posts
Every time price goes above 1.1745 it is hard for bears to breathe! Step down you lazy fur-bags.. We need you alive! 
Focus only on what truly matters!
- #138,633
- Aug 25, 2021 8:16am Aug 25, 2021 8:16am
- Joined Nov 2018 | Status: Trader | 1,051 Posts
Bulls & Bears Playing Between 1.1745 / 1.1755 Range
- #138,634
- Aug 25, 2021 8:27am Aug 25, 2021 8:27am
- Joined May 2014 | Status: Full Time Trader | 27,148 Posts
Nah.. I don't feel like this will move.. not after European banks are done.. So I close my latest order with +2 pips and call it a day..
See you tomorrow folks
See you tomorrow folks
Focus only on what truly matters!
- #138,636
- Aug 25, 2021 9:17am Aug 25, 2021 9:17am
- Joined Jun 2018 | Status: An ordinary brother | 4,596 Posts
- #138,640
- Aug 25, 2021 11:01am Aug 25, 2021 11:01am
- Joined Jun 2018 | Status: An ordinary brother | 4,596 Posts