... https://www.forexfactory.com/thread/...1#post13713031
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Attached Image (click to enlarge)
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My TP long is at 1.17589 where my short entry will be triggered where I hope we break 1.17 for the monthly low, then I will long all the way up to 1.25+ Edit: I've moved my long TP and Short entry up to 1.17663 (My target is 1.17669, 0.6 pip for spread). I expect something similar to the attached image. I have so many resistance lines my gut tells me they will break before actually dropping lower (like the area I have boxed) I would normally expect that my TP and short entry would get broken here, but then the estimated area I have for prices peak...
- #139,864
- Sep 22, 2021 4:06pm Sep 22, 2021 4:06pm
- Joined May 2014 | Status: Full Time Trader | 27,161 Posts
H1 Status Update
For our Asian session traders, here are my thoughts until Frankfurt opening:
For our Asian session traders, here are my thoughts until Frankfurt opening:
- For now, as long as: 1.16815 acts supportive, market might take a breath towards my red angled line on chart (roughly until Frankfurt opens)
- In such case, starting from first touch to RED angled trendline, traders could constantly face resistance up until 1.17095..
- Overall: picture is bearish and it is best to stay short or to keep selling pullbacks as close as it gets to 1.1710!
Good luck and happy trading 
Focus only on what truly matters!
- #139,866
- Sep 22, 2021 5:31pm Sep 22, 2021 5:31pm
- Joined Oct 2018 | Status: Risk comes from not knowing what to | 2,234 Posts
Risk comes from not knowing what to do
- #139,867
- Sep 22, 2021 5:36pm Sep 22, 2021 5:36pm
- Joined Oct 2018 | Status: Risk comes from not knowing what to | 2,234 Posts
Risk comes from not knowing what to do
- #139,868
- Sep 22, 2021 5:43pm Sep 22, 2021 5:43pm
{quote} I made 8% of my equity following your chart but used 1.1752 lvl instead, Thanks
I've attached my new view of the market. I expected the market to simply go up then drop, not drop then go up then drop again. Even though I expected price to break below 1.17, I'm actually not comfortable shorting anywhere below where we dropped at 1.1755 ish.
I think fish tried to short when the drop happened reactively, then when it went up they got stopped and went long, and now it dropped below the low. I think all the fish who were long got stopped or are short now and there are plenty of other people who went short during the drop, and plenty of short orders at higher prices between the high and where we are at now.
All I see is a lot of potential volume for big money to take profits and trigger all short orders and short stops, perfect opportunity to have an unexpected Daily "Pullback"
I actually took another long down here so if we don't actually break below 1.166-1.167, TP 1.17744 where I have a short entry as well.
I can see price slowly crawling it's way up snatching all the short orders and then have some massive 4H huge bull candle before the big boys want to make the final push. There are news that really push price one way. To me, this felt like the trap type. The Daily definitely wouldn't mind a pullback to something like 1.18-1.1825.
After this though, I'm only gonna consider going long again at a much lower price after I see every one of my support lines break. I know it's coming, I just don't know if there will be a big final F U pullback first or not haha
- #139,869
- Sep 22, 2021 8:26pm Sep 22, 2021 8:26pm
{quote} I think it based on monthly candle taking out the high of last month before falling to make a low without taking out the low of last month. Expect bull pressure towards the ending of this month.
- #139,871
- Edited 12:45am Sep 23, 2021 12:29am | Edited 12:45am
- Joined May 2014 | Status: Full Time Trader | 27,161 Posts
H1 Status Update For our Asian session traders, here are my thoughts until Frankfurt opening: For now, as long as: 1.16815 acts supportive, market might take a breath towards my red angled line on chart (roughly until Frankfurt opens) In such case, starting from first touch to RED angled trendline, traders could constantly face resistance up until 1.17095.. Overall: picture is bearish and it is best to stay short or to keep selling pullbacks as close as it gets to 1.1710! Good luck and happy trading
I will now look for sell opportunities.. but no rush.. Waiting for Frankfurt opening!
*As long as candles are below my monthly resistance level: 1.1722 my bias for today is bearish!
Focus only on what truly matters!
- #139,877
- Sep 23, 2021 2:11am Sep 23, 2021 2:11am
- Joined May 2014 | Status: Full Time Trader | 27,161 Posts
Just sold 1.1722... Stops at least 15 pips..
Focus only on what truly matters!
- #139,880
- Sep 23, 2021 2:48am Sep 23, 2021 2:48am
- Joined May 2014 | Status: Full Time Trader | 27,161 Posts
Just sold 1.1722... Stops at least 15 pips..
Focus only on what truly matters!