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  • #177,461
  • Aug 5, 2023 9:11pm Aug 5, 2023 9:11pm
im looking at the 1.10 area next fib level
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Profit is on the other side of your mind
  • #177,462
  • Edited 8:06am Aug 6, 2023 5:23am | Edited 8:06am
I always consider both the upside & the downside to enter the market from both sides.
A bullish view:
Because both X & A have gathered from both sides, we can consider the 5-0 pattern, which can continue at 1.618-2.24 Fibonacci, and then correct the price to the 50 level of the CB wave and grow again. Of course, this analysis is for when C reacts on the 1.618 Fibo & returns.
It should also be kept in mind that they didn't close above the weekly & monthly pivot for 4 hours and daily. we can continue the downward pattern that shows the target of 1.09000
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Another view:
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More important than patterns is how the market builds levels. After that, it is easier to decide which path will happen first. My view is bearish, but whichever way we go, I will go in the same direction according to the fibos of higher times.
Good Luck
There is nothing wrong with being kind & loving to each other
  • #177,463
  • Aug 6, 2023 10:35am Aug 6, 2023 10:35am
Weekly Outlook

  1. Personally, I don't enjoy talking about the long term. To me long-term talk belongs to governments to set the course for agriculture, construction, health-care, economy, education etc etc. When masses are involved, long-term talk makes sense. But for us mere mortals, intraday talk feels much better. That said, here I am still giving my quick long-term view, for those who can't do without it!
  2. The trend on weekly is BULLISH but momentum has slowed down and that way, still forming a less steep channel.
  3. From experience, these less steep upwards channels end up with bullish continuation, almost like a bullish-flag pattern.
  4. Therefore, and based on simple projection, I would anticipate some zigzag pa inside a range between 1.1345 and 1.0770. As long as the mildly bullish channel doesn't break, this pair is sort of range-bound. (scenario 1 or 2)
  5. However, IF any side breaks out of this mildly bullish channel, the picture would change drastically. I vote for bulls since the potential AB=CD looks promising and mouth watering. That would mean, once bulls break above 1.1345, I would expect new higher highs (scenario 3)
  6. At this point, it is too early to talk about a 4th scenario, where bears break below 1.0770, that would make sense only after price reaches 1.0770 and therefore I leave that part out.
  7. Long story short: Intraday wise, I am with bulls for now. Let's see how good 1.1050 area will support in the new week.

Best wishes

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Focus only on what truly matters!
  • #177,464
  • Aug 6, 2023 2:37pm Aug 6, 2023 2:37pm
Quoting Ata-Turkoglu
Weekly Outlook Personally, I don't enjoy talking about the long term. To me long-term talk belongs to governments to set the course for agriculture, construction, health-care, economy, education etc etc. When masses are involved, long-term talk makes sense. But for us mere mortals, intraday talk feels much better. That said, here I am still giving my quick long-term view, for those who can't do without it! The trend on weekly is BULLISH but momentum has slowed down and that way, still forming a less steep channel. From experience, these less steep...
Hi Ata, happy trading week ahead to you and all!

am with you on this and more favour to bullish this week.

last week 100dsma and tl provided the support for bull to bounce up, of course nfp helped as well.

for this week, as long as we stay above 1.1 ( near weekly pivot) and above 1.1030-40 then more room opened for the bull
Patience, Emotion Control and Discipline.
  • #177,465
  • Aug 6, 2023 6:48pm Aug 6, 2023 6:48pm
First long 1.0996 let see
Patience, Emotion Control and Discipline.
  • #177,466
  • Aug 6, 2023 9:01pm Aug 6, 2023 9:01pm
EU broke 1.1000 and heading to the weekly pivot and if not a bounce from there then next support is at 1.0963 where a close below could lead the price lower. A bounce will test the Fridays high again but a close above 1.1000 is needed first.

Daily Volatility (range) - 45 pips
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Have a great week!
Looking for profitable short term trades ...|
  • #177,467
  • Aug 6, 2023 9:36pm Aug 6, 2023 9:36pm
Gooooood Morning
I hope you have a happy and profitable week
If the price breaks 1.10476 & closes above it, it can bring 1.11312 - 1.0858 ( fibo harmonic) and 1.10637, which is a good area to sell.
Buy ( 1.09759-1.09625 ) for scalp
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There is nothing wrong with being kind & loving to each other
  • #177,468
  • Aug 6, 2023 9:50pm Aug 6, 2023 9:50pm
Quoting RaHaG0D
I always consider both the upside & the downside to enter the market from both sides. A bullish view: Because both X & A have gathered from both sides, we can consider the 5-0 pattern, which can continue at 1.618-2.24 Fibonacci, and then correct the price to the 50 level of the CB wave and grow again. Of course, this analysis is for when C reacts on the 1.618 Fibo & returns. It should also be kept in mind that they didn't close above the weekly & monthly pivot for 4 hours and daily. we can continue the downward pattern that shows the target of 1.09000{image}...
Yes, patterns are not always reliable but you can watch how the price closes above or below a level and see the pressure of where the market is heading, but of-course there is always the chance for that level to not hold and the price to shoot suddenly and break that level. I would give more weight on the risk management on a trade.
Looking for profitable short term trades ...|
  • #177,469
  • Aug 6, 2023 9:50pm Aug 6, 2023 9:50pm
weekly levels, daily direction is up, already diverging with HL and extreme OS.
daily and weekly MA's + weekly 50% level should be strong support.
if it hold we should have HH, or a double top at week high and upper daily band.

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trade with care.

cheers,
"the public is not yet ready for it" W.D. GANN
  • #177,470
  • Aug 6, 2023 10:08pm Aug 6, 2023 10:08pm
Quoting Js3mwtRc
{quote} Yes, patterns are not always reliable but you can watch how the price closes above or below a level and see the pressure of where the market is heading, but of-course there is always the chance for that level to not hold and the price to shoot suddenly and break that level. I would give more weight on the risk management on a trade.
Yes Patterns always show an area from which there will be a possibility of reversal. There is no pattern that says the market must return to this price. Because if its levels are broken, it can be making another pattern. That area (PRZ) should be checked in the low & high time (Breakdown of the structure, divergence & convergence, Fibonacci levels of the waves...), this increases the probability of winning.
As you well said, MM is the key - learning hedge will also help.
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The week began with a conversation with you. How pleasant it is
There is nothing wrong with being kind & loving to each other
  • #177,471
  • Aug 6, 2023 10:10pm Aug 6, 2023 10:10pm
Quoting Js3mwtRc
EU broke 1.1000 and heading to the weekly pivot and if not a bounce from there then next support is at 1.0963 where a close below could lead the price lower. A bounce will test the Fridays high again but a close above 1.1000 is needed first. Daily Volatility (range) - 45 pips {image} Have a great week!
what`s your WP indicator ?
  • #177,472
  • Aug 6, 2023 10:13pm Aug 6, 2023 10:13pm
Quoting Kwt4x
weekly levels, daily direction is up, already diverging with HL and extreme OS. daily and weekly MA's + weekly 50% level should be strong support. if it hold we should have HH, or a double top at week high and upper daily band. {image} trade with care. cheers,
The fact that the market came down here from an overbought level is bearish for me but also there is some divergence that gives signal that this bear trend will reverse so there is a mixed image according the indicators. It's good to watch today the sentiment from some not so significant news on the calendar but these releases at the start of the week can put up or down the weekly sentiment.
Looking for profitable short term trades ...|
  • #177,473
  • Aug 6, 2023 10:18pm Aug 6, 2023 10:18pm
Quoting Happymorning
{quote} what`s your WP indicator ?
Its pivot point standard
Looking for profitable short term trades ...|
  • #177,474
  • Aug 6, 2023 10:22pm Aug 6, 2023 10:22pm
Trading plan.
This week I am looking at 1.0960 to buy for another leg up.
Inverted H&S H4 (they usually follow Bfly).
Shorts from Friday are ok, I will take half profit at the same level.
We watch the charts from every angle so you don't have to!!
  • #177,475
  • Aug 6, 2023 10:24pm Aug 6, 2023 10:24pm
Quoting RaHaG0D
{quote} Yes Patterns always show an area from which there will be a possibility of reversal. There is no pattern that says the market must return to this price. Because if its levels are broken, it can be making another pattern. That area (PRZ) should be checked in the low & high time (Breakdown of the structure, divergence & convergence, Fibonacci levels of the waves...), this increases the probability of winning. As you well said, MM is the key - learning hedge will also help.{image} The week began with a conversation with you. How pleasant...
Great, I know about hedging but not all platforms or countries support it. I am one of the lucky ones
Looking for profitable short term trades ...|
  • #177,476
  • Aug 6, 2023 10:28pm Aug 6, 2023 10:28pm
Quoting pedro319
Trading plan. This week I am looking at 1.0960 to buy for another leg up. Inverted H&S H4 (they usually follow Bfly). Shorts from Friday are ok, I will take half profit at the same level.
Sounds good, H&S could be a good signal this week!
Looking for profitable short term trades ...|
  • #177,477
  • Aug 6, 2023 10:35pm Aug 6, 2023 10:35pm
Quoting Js3mwtRc
{quote} Great, I know about hedging but not all platforms or countries support it. I am one of the lucky ones
There is a point that I tell people who have just started not to make my past mistakes
Newbies use indicators for patterns, which are too many, and trade, they may always lose.
Indicators usually analyze a big wave, whose possible return zone may be more than 200 pips, and the person keeps trading & the price comes down & thinks that the pattern & the indicator are wrong. The indicator and pattern are completely correct. We must know the PRZ levels.
When we learn the patterns ourselves, we will definitely choose smaller waves based on our own principles, and if its PRZ is broken, we know that it is making another pattern and we can change the game.
I apologize for talking too much My message is for new traders
There is nothing wrong with being kind & loving to each other
  • #177,478
  • Aug 6, 2023 10:49pm Aug 6, 2023 10:49pm
Quoting RaHaG0D
{quote} There is a point that I tell people who have just started not to make my past mistakes Newbies use indicators for patterns, which are too many, and trade, they may always lose. Indicators usually analyze a big wave, whose possible return zone may be more than 200 pips, and the person keeps trading & the price comes down & thinks that the pattern & the indicator are wrong. The indicator and pattern are completely correct. We must know the PRZ levels. When we learn the patterns ourselves, we will definitely choose smaller waves based...
No need to apologize, new traders should know that they should study hard technicals, fundamentals and psychology, mistakes are good learning lessons. If a setup fail there will be always another one to profit. We just need to find the best setups and what suits to us the most and leave all other to risk management.
Looking for profitable short term trades ...|
  • #177,479
  • Aug 6, 2023 11:09pm Aug 6, 2023 11:09pm
Long 0981, add more 0971, close above 1003 more Long
Holy Betting Grail strategy
  • #177,480
  • Aug 6, 2023 11:12pm Aug 6, 2023 11:12pm
Quoting johncen
First long 1.0996 let see
added and if we get to 0960 will add last one
sl under
Patience, Emotion Control and Discipline.
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