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  • #173,161
  • May 31, 2023 2:56am May 31, 2023 2:56am
Quoting pedro319
{quote} Price is not at oversold D1 and W1, and most likely the lows will go. Oversold D1 is located around 1.0570 and oversold on W1 is at 1.05.
Yes, I’m looking at 15M 30M 1H and 4H as im looking for a movement for today ! About D1 and W1 you are right there is still some potential downward movement
  • #173,162
  • May 31, 2023 3:08am May 31, 2023 3:08am
H1 Bfly buy
1.0652 and 1.0625
This is only for short term pullback, overall bearish target is 1.05.
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  • #173,163
  • May 31, 2023 3:13am May 31, 2023 3:13am
HTF bias is still BEARISH. IMO
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  • #173,164
  • May 31, 2023 3:20am May 31, 2023 3:20am
This is just an example to show that there's NO such a thing as OVERBOUGHT and OVERSOLD!!!!! Market can GOOOOOOOOO in one direction as long as it HAS TO GO. Do NOT fall for this RETAIL TRAP!!!!!
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  • #173,165
  • May 31, 2023 3:25am May 31, 2023 3:25am
Quoting Ata-Turkoglu
Based on H1. no sign of bulls yet.. I am marking 1.0693 area as nearest resistance..
Ata, you got your evil number 1.0666 . Anyhow, I opted for waiting a bit longer and moved my TP to 1.0555.
  • #173,166
  • May 31, 2023 3:27am May 31, 2023 3:27am
Quoting andvk74
This is just an example to show that there's NO such a thing as OVERBOUGHT and OVERSOLD!!!!! Market can GOOOOOOOOO in one direction as long as it HAS TO GO. Do NOT fall for this RETAIL TRAP!!!!! {image} {image}
Right... in 2014 the EUR went down 9 Month long!
  • #173,167
  • May 31, 2023 3:28am May 31, 2023 3:28am
Quoting andvk74
This is just an example to show that there's NO such a thing as OVERBOUGHT and OVERSOLD!!!!! Market can GOOOOOOOOO in one direction as long as it HAS TO GO. Do NOT fall for this RETAIL TRAP!!!!! {image}
On high timeframes very rarely price stays at overbought or oversold levels for too long, usually corrects it even if just slightly, it is also a good way to calculate where price is going when all fib levels are done.
As with anything else these indicators are not be taken solely, there are other tools to help traders make decisions.
You obviously see things in a different way which is also good!!
All the best!
We watch the charts from every angle so you don't have to!!
  • #173,168
  • May 31, 2023 3:33am May 31, 2023 3:33am
Quoting zippo22
{quote} Right... in 2014 the EUR went down 9 Month long!
That was after QE, no technicals could save the Euro!!
Those are exceptional times, monetary policy shifts are traded on it's own, no need for a lot of technicals.
We watch the charts from every angle so you don't have to!!
  • #173,169
  • May 31, 2023 3:33am May 31, 2023 3:33am
Long triggered at 1.0667. Let's now rise like a phoenix from the ashes.
  • #173,170
  • May 31, 2023 3:35am May 31, 2023 3:35am
  •  Evt
  • | Joined Sep 2011 | Status: Professional Trader | 86 Posts
started accumulating Longs from 1.0664
Audentes fortuna iuvat
  • #173,171
  • May 31, 2023 3:41am May 31, 2023 3:41am
Quoting pedro319
{quote} That was after QE, no technicals could save the Euro!!
Actually it was a trifecta -> QE end, Saudi Oil war against shale and Greece+BREXIT debate.

Anyone who had sniffed where this ends up could have made a fortune. From 1.384xx to 1.046xx -> wow 3400 full pips
  • #173,172
  • May 31, 2023 3:42am May 31, 2023 3:42am
It's better NOT to do this!!!!! PATIENCE PAYS!!!
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  • #173,173
  • May 31, 2023 3:42am May 31, 2023 3:42am
Quoting andvk74
HTF bias is still BEARISH. IMO {image}
Agreed - from a fellow ICT trader
  • #173,174
  • May 31, 2023 3:42am May 31, 2023 3:42am
Quoting zippo22
{quote} Actually it was a trifecta -> QE end, Saudi Oil war against shale and Greece+BREXIT debate. Anyone who had sniffed where this ends up could have made a fortune. From 1.384xx to 1.046xx -> wow 3400 full pips
There was a mega Bfly sell weekly chart, you can still see it in my posts back then, shorted all the way down.
We watch the charts from every angle so you don't have to!!
  • #173,175
  • May 31, 2023 3:46am May 31, 2023 3:46am
1.0664 is AB=CD on H4 hence why it's taking some time, ultimately I expect close below and move to 1.0652.
We watch the charts from every angle so you don't have to!!
  • #173,176
  • May 31, 2023 3:51am May 31, 2023 3:51am
Quoting pedro319
{quote} There was a mega Bfly sell weekly chart, you can still see it in my posts back then, shorted all the way down.
What a shame that I didn't stumbled over your posts at that time
  • #173,177
  • May 31, 2023 3:56am May 31, 2023 3:56am
Quoting zippo22
{quote} What a shame that I didn't stumbled over your posts at that time
It took a very long time for that move to start, that is what I remember, but after it started you could short it from anywhere and it would work.
At some point we had 3 crows pattern on monthly chart! Good times!
We watch the charts from every angle so you don't have to!!
  • #173,178
  • May 31, 2023 3:59am May 31, 2023 3:59am
This is what I expect in the upcoming weeks
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  • #173,179
  • May 31, 2023 4:06am May 31, 2023 4:06am
One of MANY (as I call patterns) I'm looking for in the charts, besides MANY other things.
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  • #173,180
  • May 31, 2023 4:27am May 31, 2023 4:27am
The price has reached a level too late - 1.0660 monthly S2 support level and I don't expect a big bounce because of the reason that tomorrow we are going to get new levels for the start of the next 30 days, so it may look overextended but it could drop more!

Quoting Js3mwtRc
The price has reached a level too late - 1.0660 monthly S2 support level and I don't expect a big bounce because of the reason that tomorrow we are going to get new levels for the start of the next 30 days, so it may look overextended but it could drop more!
I don't play this but a good target is at 1.0755/62 and then trail - but it should close the hour back inside yesterday's low!
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