Eurgbp should move downwards with trend on the next 4 hour candle as Pockerchip stated by his drawing, since it loses 4 hour support
- #15,362
- Sep 22, 2021 12:18pm Sep 22, 2021 12:18pm
- Joined Mar 2018 | Status: Trader | 4,611 Posts
Patience, let the trade come to you.
- #15,366
- Sep 22, 2021 2:29pm Sep 22, 2021 2:29pm
- Joined Mar 2018 | Status: Trader | 4,611 Posts
Patience, let the trade come to you.
- #15,367
- Sep 22, 2021 2:33pm Sep 22, 2021 2:33pm
- Joined Mar 2018 | Status: Trader | 4,611 Posts
Patience, let the trade come to you.
- #15,368
- Sep 22, 2021 2:48pm Sep 22, 2021 2:48pm
- Joined Mar 2018 | Status: Trader | 4,611 Posts
Patience, let the trade come to you.
- #15,369
- Sep 23, 2021 2:51am Sep 23, 2021 2:51am
Often the best thing You can do on the market is waiting. Had some time, checked charts, and there is a nice situation on U/CHF, cause it's a clean cycle but even this clean, clear cycle can be used to trick with You.
We have a nice previous cycle peak, and then reverse, level 1, level 2, and something that looks like a level 3 but there is a chance that it isn't level 3 at all
Very often we can notice a pullback to retest the level 1 area from level 2, a place where I like to add to my trades. This time it was a very shallow retracement, then the price moved lower and suddenly moved up again. It can be of course the beginning of the new cycle up, but this case is interesting 'cause the previous level 1 is still valid, price not past above it, and there is still a lot volume trapped. So now we have either a mid week reversal and a new cycle beginning or a big level 2 area of accumulation before another move down.
Now the best thing to do is to wait and let the MM show their hands.
We have a nice previous cycle peak, and then reverse, level 1, level 2, and something that looks like a level 3 but there is a chance that it isn't level 3 at all
Very often we can notice a pullback to retest the level 1 area from level 2, a place where I like to add to my trades. This time it was a very shallow retracement, then the price moved lower and suddenly moved up again. It can be of course the beginning of the new cycle up, but this case is interesting 'cause the previous level 1 is still valid, price not past above it, and there is still a lot volume trapped. So now we have either a mid week reversal and a new cycle beginning or a big level 2 area of accumulation before another move down.
Now the best thing to do is to wait and let the MM show their hands.
- #15,371
- Sep 23, 2021 9:05am Sep 23, 2021 9:05am
- Joined Mar 2018 | Status: Trader | 4,611 Posts
Often the best thing You can do on the market is waiting. Had some time, checked charts, and there is a nice situation on U/CHF, cause it's a clean cycle but even this clean, clear cycle can be used to trick with You. We have a nice previous cycle peak, and then reverse, level 1, level 2, and something that looks like a level 3 but there is a chance that it isn't level 3 at all
Nice chart.
Patience, let the trade come to you.
- #15,372
- Sep 23, 2021 9:17am Sep 23, 2021 9:17am
- Joined Mar 2018 | Status: Trader | 4,611 Posts
Patience, let the trade come to you.
- #15,373
- Sep 23, 2021 10:57am Sep 23, 2021 10:57am
- Joined Mar 2018 | Status: Trader | 4,611 Posts
Patience, let the trade come to you.
- #15,376
- Sep 23, 2021 6:45pm Sep 23, 2021 6:45pm
Hi voozie the graph you posted of usdchf I see tour box as price trapped in the middle of support and resistance, so a clean break out in either direction will determine trend. Currently the 4 hour is pointing downwards.
than just showing something on the history. It's always worth keeping in mind that when price behaves strangely in the cycle/previous cycle, and it will be stuck between two levels without resetting the previous one, then we have to be cautious.
I like to say that price is what it is until it isn't. Now U/Chf can also create "typical level 3 behavior" and go sideways creating the zone of accumulation between level 2 and small shallow level 3.
Support and resistance are the places where traders are attracted to get slaughtered. Sup/res, ema's, divergence, everything that retails can easily see is used by the MM to lure and trap big amounts of volume.
We should look at any of this only after determining what the price shows us, where we are in the cycle, and then we can conclude how other information that we can gather from the popular technical analysis can be used to our advantage. All of this is just the game of probability.
- #15,379
- Sep 24, 2021 7:12am Sep 24, 2021 7:12am
- Joined Mar 2018 | Status: Trader | 4,611 Posts
Patience, let the trade come to you.