UJ was perfect tho.
Attached Image (click to enlarge)
2
- #267
- Jan 17, 2023 4:16pm Jan 17, 2023 4:16pm
Throwing another setup in the making. Watch for right shoulder to form for this Head & Shoulders pattern on AU around the Monthly psych level. This one will give great R:R if it goes according to our playbook. As always, drill down on lower TF to snipe your entry using S&D/Fib/Candlestick pattern. Always wait for confirmation! {image}
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- #268
- Jan 17, 2023 8:41pm Jan 17, 2023 8:41pm
NAS100 markup. Price formed double top at daily psych level. Expect it to come back down to test Monthly psych, and if it is successful breaking it then we can see a long reversal move here.
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- #269
- Jan 17, 2023 9:33pm Jan 17, 2023 9:33pm
- Joined Jun 2010 | Status: Trader | 16,699 Posts
ITB - Seeing Orderliness amongst 'Randomness'
- #271
- Jan 17, 2023 11:44pm Jan 17, 2023 11:44pm
- Joined Jun 2010 | Status: Trader | 16,699 Posts
ITB - Seeing Orderliness amongst 'Randomness'
- #272
- Jan 17, 2023 11:52pm Jan 17, 2023 11:52pm
- Joined Jun 2010 | Status: Trader | 16,699 Posts
ITB - Seeing Orderliness amongst 'Randomness'
- #273
- Jan 18, 2023 7:04am Jan 18, 2023 7:04am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
Money moves the market, not an indicator.
- #274
- Jan 18, 2023 7:17am Jan 18, 2023 7:17am
- Joined Jun 2010 | Status: Trader | 16,699 Posts
ITB - Seeing Orderliness amongst 'Randomness'
- #275
- Jan 18, 2023 7:17am Jan 18, 2023 7:17am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
Here my personal observation:
On USD/JPY we can spot a potential reversal from 50% fibonacci retracement. That coincide with sweet psychological level
$131.00
We are clearly in a downtrend on 4h, and price kiss our last lower low wich now act as resistance (red band)
Thanks to fine tunning on minor timeframes, one can stalk now for a test of this 50% retracement. It's not my discovery, all credits go to colleagues upside wich post their setups.
What can I say is, indeed, switching to a minor timeframe can give you a great risk:reward but this really must be a minor timeframe.
And which minor timeframe to use I think is the choice of every trader based on some personal observations and preferences (e.g some traders like to trade 20m, or 120m or 360m timeframes etc).
Below trend sequence and how nice 50% fibo aka $131 is tested and price reject from it, creating bearish trend sequence with first lower low thus confirming the rejection wich become lower high.
On USD/JPY we can spot a potential reversal from 50% fibonacci retracement. That coincide with sweet psychological level
$131.00
We are clearly in a downtrend on 4h, and price kiss our last lower low wich now act as resistance (red band)
Thanks to fine tunning on minor timeframes, one can stalk now for a test of this 50% retracement. It's not my discovery, all credits go to colleagues upside wich post their setups.
What can I say is, indeed, switching to a minor timeframe can give you a great risk:reward but this really must be a minor timeframe.
And which minor timeframe to use I think is the choice of every trader based on some personal observations and preferences (e.g some traders like to trade 20m, or 120m or 360m timeframes etc).
Below trend sequence and how nice 50% fibo aka $131 is tested and price reject from it, creating bearish trend sequence with first lower low thus confirming the rejection wich become lower high.
Money moves the market, not an indicator.
- #276
- Jan 18, 2023 7:21am Jan 18, 2023 7:21am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
So where TP ?
Mabe in the Last Higher High broken upside wich act as support. (green band)
Mabe in the Last Higher High broken upside wich act as support. (green band)
Money moves the market, not an indicator.
- #277
- Jan 18, 2023 9:16am Jan 18, 2023 9:16am
- Joined Mar 2015 | Status: Trader | 1,443 Posts
Any one trade stocks? Nice long on apple. Apple climbin
- #278
- Jan 18, 2023 10:02am Jan 18, 2023 10:02am
Quick entry on AU psych levels + imbalance
setup on H4. Demand zone imbalance
on m5 we see a huge reaction once price entered the zone, this created a demand zone within a demand zone. Then we enter. Tp highest high look to the left (screenshot too small to show it)
setup on H4. Demand zone imbalance
on m5 we see a huge reaction once price entered the zone, this created a demand zone within a demand zone. Then we enter. Tp highest high look to the left (screenshot too small to show it)
Take this course: https://shorturl.at/upBey
- #279
- Jan 18, 2023 10:24am Jan 18, 2023 10:24am
- Joined Jun 2010 | Status: Trader | 16,699 Posts
ITB - Seeing Orderliness amongst 'Randomness'
look for confluences on lower tf together with S&D / Fibonacci retracement 