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Trading EURUSD only 43,756 replies

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  • #177,541
  • Aug 7, 2023 8:13pm Aug 7, 2023 8:13pm
Quoting johncen
EU works as per plan yesterday with 0960ish supporting. I believe most of us have noticed a potential inverted h&s which we will need to break above 1044 to make it worth and to target 1140 and ultimately 1250 + for now we have returned back to weekly pivot, let see if it holds{image}
Are you still holding your longs from yesterday at 0996 & 098x?
  • #177,542
  • Aug 7, 2023 8:33pm Aug 7, 2023 8:33pm
Quoting v2vboni
{quote} If it breaks this Asian Low → 1.09706 ...Next is 1.09350 {image} ...otherwise {image}
Chart: H4 | MTF: D1 | Custom: H12
Analysis: SSA | Pivot: VWAP (as mid point line)
TP : 1.09100

Attached Image (click to enlarge)
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Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #177,543
  • Aug 7, 2023 8:36pm Aug 7, 2023 8:36pm
Quoting kokchu
{quote} Are you still holding your longs from yesterday at 0996 & 098x?
already tp my longs from 0980 near 1.1007 earlier but still holding some from 0.9968
Patience, Emotion Control and Discipline.
  • #177,544
  • Aug 7, 2023 8:58pm Aug 7, 2023 8:58pm
EU is consolidating between 1.1042 - 1.0912 waiting for direction.

Daily Volatility (range) - 46 pips

Significant News - US Trade Balance


Attached Image (click to enlarge)
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Have a great trading day.
Looking for profitable short term trades ...|
  • #177,545
  • Aug 7, 2023 9:12pm Aug 7, 2023 9:12pm
Quoting Js3mwtRc
EU is consolidating between 1.1042 - 1.0912 waiting for direction. Daily Volatility (range) - 46 pips Significant News - US Trade Balance {image} Have a great trading day.
Notice how the US reduces Chinese trade activity so they can go to war with them in 2025 as their academically challenged general pointed out earlier this year.
Almost as funny as how the US can't go to war with China because they ran out of munitions supporting Ukraine!
  • #177,546
  • Aug 7, 2023 9:41pm Aug 7, 2023 9:41pm
Quoting dantpm
{quote} Notice how the US reduces Chinese trade activity so they can go to war with them in 2025 as their academically challenged general pointed out earlier this year. Almost as funny as how the US can't go to war with China because they ran out of munitions supporting Ukraine!
Us imports more than it exports for years now because the Americans are large consumers and that is why they always have a big trade balance deficit, this how I see it.
Looking for profitable short term trades ...|
  • #177,547
  • Aug 7, 2023 10:29pm Aug 7, 2023 10:29pm
Todays plan.

LT view: Signs the 4hr correction is in exhaustion and ready for an up lift. Not entirely sure we have seen the LL however as the daily was around a 1:1 and could be looking for further correction, momentum is against this view however.
Attached Image (click to enlarge)
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ST view: The ST supports the LT with a possible minor drop to complete a Gartley before possibly gathering momentum to break into new ST HH's.
Attached Image (click to enlarge)
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My 1:1 failed from yesterday by just under 2 pips before completing. I'm not concerned with losses, just by the accuracy of my trading plan. Sure trade management needs to be addressed at all times but understanding the market and being able to read the "right" side of the chart is more important or else you are just stabbing in the dark.

I will review my plan throughout the day and as always I am malleable to change as new information comes to light.
As the lights go by so too do the shadows move
  • #177,548
  • Aug 7, 2023 10:33pm Aug 7, 2023 10:33pm
Quoting Js3mwtRc
{quote} Us imports more than it exports for years now because the Americans are large consumers and that is why they always have a big trade balance deficit, this how I see it.
Trade deficit combined with increasing public debt levels. Their economic system is broke and the rest of the planet supports it! Sadly the system is now getting exported to other western countries.
  • #177,549
  • Aug 7, 2023 10:46pm Aug 7, 2023 10:46pm
Quoting Matts Micro
Todays plan. LT view: Signs the 4hr correction is in exhaustion and ready for an up lift. Not entirely sure we have seen the LL however as the daily was around a 1:1 and could be looking for further correction, momentum is against this view however. {image} ST view: The ST supports the LT with a possible minor drop to complete a Gartley before possibly gathering momentum to break into new ST HH's. {image} My 1:1 failed from yesterday by just under 2 pips before completing. I'm not concerned with losses, just by the accuracy of my trading plan. Sure...
Further reflection: This may be on the way up to complete the immediate ABCD (white dashed TL) before ducking down once again. This would be a beautifully harmonic pattern if this is the case.

EDIT: I have entered at the current level of the chart posted. I hate being late to a trade but entry conditions earlier were perfect and my R:R is still over 2:1.
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
  • #177,550
  • Aug 7, 2023 10:53pm Aug 7, 2023 10:53pm
M30 daily range is low, direction so far is sideway, but there is a divergence with extreme OS

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H4 range in M5 is at lowest and starting a sideway, until London open, sideway might extend. a breakout should trigger direction first then pick your entry.

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be safe.
"the public is not yet ready for it" W.D. GANN
  • #177,551
  • Aug 7, 2023 11:00pm Aug 7, 2023 11:00pm
Quoting dantpm
{quote} Trade deficit combined with increasing public debt levels. Their economic system is broke and the rest of the planet supports it! Sadly the system is now getting exported to other western countries.
Yes we may see EU shooting above 1050 today on a bad number.
Looking for profitable short term trades ...|
  • #177,552
  • Aug 7, 2023 11:34pm Aug 7, 2023 11:34pm
Targeting 1032
Fundamental provide Volume, Technical shows Direction
  • #177,553
  • Aug 7, 2023 11:34pm Aug 7, 2023 11:34pm
4H:
If the price closes above 1.10420, it can also see 1.10893 -1.10628.
Attached Image (click to enlarge)
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If the price closes below 1.09655, which I wrote about yesterday
Attached Image (click to enlarge)
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However, you can have a short-term bullish view today
Weekly & monthly pivots are resistances & may push the price down.
Good Luck
There is nothing wrong with being kind & loving to each other
  • #177,554
  • Aug 7, 2023 11:48pm Aug 7, 2023 11:48pm
Quoting RaHaG0D
4H: If the price closes above 1.10420, it can also see 1.10893 -1.10628.{image} If the price closes below 1.09655, which I wrote about yesterday{image} However, you can have a short-term bullish view today Weekly & monthly pivots are resistances & may push the price down. Good Luck
Does market really obey all these drawings ?
Make all mistakes in demo and rain in pips in live account
  • #177,555
  • Aug 7, 2023 11:48pm Aug 7, 2023 11:48pm
Good Morning,
Scalping long here targetting Tp1 1.1021 and a little above 1.104
Cheers and keep safe.
  • #177,556
  • Aug 7, 2023 11:51pm Aug 7, 2023 11:51pm
Quoting 9jatrader
{quote} Does market really obey all these drawings ?
We obey the market not the other way around plus if it work it aint stupid. Everyone gt their own style and personalities.
Fundamental provide Volume, Technical shows Direction
  • #177,557
  • Aug 8, 2023 12:03am Aug 8, 2023 12:03am
Quoting vankola
Good Morning, Scalping long here targetting Tp1 1.1021 and a little above 1.104 Cheers and keep safe.
Bought some here again targets are the same. Can be a better place from here.
  • #177,558
  • Aug 8, 2023 12:16am Aug 8, 2023 12:16am
Quoting vankola
{quote} Bought some here again targets are the same. Can be a better place from here.
We're still going down, look at the 30mins candle.
  • #177,559
  • Aug 8, 2023 12:17am Aug 8, 2023 12:17am
Quoting 9jatrader
{quote} Does market really obey all these drawings ?
It isn't about compliance. The first question is which path is more correct. The patterns are based on the market structure that if a level breaks, at what other level can we expect a reaction.
Yes, I am still making money from this trading system & I am successful in my opinion
I'm not judging just one pattern. When it reaches the area I specified, I will check it with the trading system I have & trade after confirmation.
In the end, even if I make a mistake, like all trading systems in the world, the stop loss trade will be hit.
There is nothing wrong with being kind & loving to each other
  • #177,560
  • Edited 1:25am Aug 8, 2023 12:21am | Edited 1:25am
Quoting 9jatrader
{quote} Does market really obey all these drawings ?
Think of birds.... You start observing them... and every morning at 5am you notice they start chirping crazily inside the trees.. You wake up the next morning and you notice they do it again... the next morning again... the next morning again... after months still the same... Now you write a book: "The chirping patterns of birds"... One shares the chart in that book and draws a line based on this book's observations...

Then a member named 9jatrader comes and asks: Do these birds obey your drawings?

No! The birds do their regular thing. We only discovered that they repeat certain habits. Same with drawings around harmonics.. they were observed years after years watching market behavior and historical charts. The market does its thing. We try to catch patterns, that's all. No "obeying" here... We can only hope that we observed correctly and that these moves repeat itself time after time... Then we make profit.

Best wishes
Focus only on what truly matters!
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