… The current impulse wave needs to make a peak first before it can make a correction …
Market is not random but unpredictable
- #541
- Aug 27, 2021 6:45pm Aug 27, 2021 6:45pm
- | Joined Apr 2017 | Status: 38737526 / 29052019 | 1,245 Posts
- #542
- Sep 4, 2021 11:25pm Sep 4, 2021 11:25pm
- | Joined Apr 2017 | Status: 38737526 / 29052019 | 1,245 Posts
If 91.78 is broken, “Weak USD” will become the ongoing trend with 93.75 as its trend-reversal level …
Market is not random but unpredictable
- #543
- Sep 8, 2021 7:31pm Sep 8, 2021 7:31pm
- | Joined Apr 2017 | Status: 38737526 / 29052019 | 1,245 Posts
A break of previous candle’s high will create a valley / bottom / support, and a break of previous candle’s low will form a peak / top / resistance …
Example:
The USDX formed a new support @ 91.80 when the current candle broke its previous candle’s high as seen on the chart. Since this new support is higher than its old one (91.78), the uptrend is still intact for now but the trend-reversal level is changed to 91.80 …
Note: Since the last correction run very deep up to 98%, the chance of making HH in the uptrend diminished greatly.
Example:
The USDX formed a new support @ 91.80 when the current candle broke its previous candle’s high as seen on the chart. Since this new support is higher than its old one (91.78), the uptrend is still intact for now but the trend-reversal level is changed to 91.80 …
Note: Since the last correction run very deep up to 98%, the chance of making HH in the uptrend diminished greatly.
Market is not random but unpredictable
- #546
- Edited 7:39am Sep 9, 2021 6:08am | Edited 7:39am
- | Joined Apr 2017 | Status: 38737526 / 29052019 | 1,245 Posts
Market is not random but unpredictable
- #547
- Edited 2:00am Sep 10, 2021 1:26am | Edited 2:00am
Daily Currencies Relative Strength updated at 10th September 7 AM GMT DST (may take a few hours to be visible because I am junior member/posts are moderated).
Fortunately, my yesterday's projections have been confirmed.
These charts do not repaint, but candle 0 is ongoing, so along the day the directions of the last link change.
For today, I would expect USD to make another attempt to improve the position (this time without the help of EUR), after yesterday's attempt which caused some mess in the markets, and it had to pull back.
Fortunately, my yesterday's projections have been confirmed.
These charts do not repaint, but candle 0 is ongoing, so along the day the directions of the last link change.
For today, I would expect USD to make another attempt to improve the position (this time without the help of EUR), after yesterday's attempt which caused some mess in the markets, and it had to pull back.
Follow your guts, if you want to lose your money...
- #548
- Edited 7:37pm Sep 11, 2021 10:58am | Edited 7:37pm
- | Joined Apr 2017 | Status: 38737526 / 29052019 | 1,245 Posts
Market is not random but unpredictable
- #549
- Sep 11, 2021 12:27pm Sep 11, 2021 12:27pm
This is a 4-hour chart that shows what happened last Friday. After the expected smart money manipulation to misdirect the dumb money and make them believe the EURUSD would go up, it reverts direction and seats again on the support zone (ready to move down, I think). Let's see next Monday what happen.
Follow your guts, if you want to lose your money...
- #550
- Sep 11, 2021 2:50pm Sep 11, 2021 2:50pm
- | Joined Apr 2017 | Status: 38737526 / 29052019 | 1,245 Posts
Market is not random but unpredictable
- #551
- Sep 11, 2021 7:29pm Sep 11, 2021 7:29pm
- | Joined Apr 2017 | Status: 38737526 / 29052019 | 1,245 Posts
Market is not random but unpredictable
- #553
- Edited Sep 12, 2021 12:19am Sep 11, 2021 8:37pm | Edited Sep 12, 2021 12:19am
- | Joined Apr 2017 | Status: 38737526 / 29052019 | 1,245 Posts
Market is not random but unpredictable
- #554
- Sep 11, 2021 11:00pm Sep 11, 2021 11:00pm
{quote} Since the market moves 24/5 continuously, the weekly properly concludes (summarizes) what was happening in the daily and lower timeframes …
The weekly timeframe shows that the tentative direction of the USD is to follow the FED monetary policy. Currently, this policy is to make the USD stronger. It is not easy because the market has too many USD, the country's inflation shows it, and the economy is not as good as it should.
Follow your guts, if you want to lose your money...
- #556
- Sep 12, 2021 8:20pm Sep 12, 2021 8:20pm
- | Joined Apr 2017 | Status: 38737526 / 29052019 | 1,245 Posts
Lower timeframes are the playground for Smart Money ...
Market is not random but unpredictable
- #557
- Edited 11:59pm Sep 12, 2021 11:48pm | Edited 11:59pm
{quote} Here is an excerpt from investopedia.com about “smart money” and it doesn’t say anything about the timeframe they use ... {image}
When we hear that more than 90% of retail forex traders (brokers may say 75% to give more hope) lose 90% of their accounts in 90 days or less, I found funny this statement from Investopedia.com:
Follow your guts, if you want to lose your money...
- #558
- Sep 13, 2021 3:28am Sep 13, 2021 3:28am
- | Joined Apr 2017 | Status: 38737526 / 29052019 | 1,245 Posts
… You are definitely trying to circumvent "smart money" manipulations …
Market is not random but unpredictable
- #559
- Sep 13, 2021 5:59am Sep 13, 2021 5:59am
{quote} I’m not sure if I circumvent any manipulation, I just play my systems …
In general, long-term traders tend to have low win rate, long loss strikes and rely exclusively on a potentially high R/R ratio. Due to the risk of long loss strikes, most times they don't risk 2% per trade, but 1% or less. So profit rate is very low, but better than what banks pay
.
Follow your guts, if you want to lose your money...
- #560
- Sep 13, 2021 9:04am Sep 13, 2021 9:04am
- | Joined Apr 2017 | Status: 38737526 / 29052019 | 1,245 Posts
Market is not random but unpredictable