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  • #178,501
  • Aug 21, 2023 10:04am Aug 21, 2023 10:04am
Quoting Matts Micro
{quote} TS 25pips. Long for the correction. {image}
Quoting Matts Micro
{quote} Aggressive Sell and TS my Long. {image}
Out of Long 17 pips.
As the lights go by so too do the shadows move
  • #178,502
  • Aug 21, 2023 10:18am Aug 21, 2023 10:18am
Quick hello mates!
Hope you are well!!
Waaaay too long a time no see !!!!


And on the Seventh Day, a previous daily high has finally been broken
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #178,503
  • Aug 21, 2023 10:22am Aug 21, 2023 10:22am
Now lingering at 1.09 what next? Sleepy day.
Fundamental provide Volume, Technical shows Direction
  • #178,504
  • Edited 11:20am Aug 21, 2023 10:45am | Edited 11:20am
And again, thanks to Ranging/Sideways/ChoppyChoppy Science on the larger scale, all my live shares with TPs hit since my last TPs hit update are being reused in the beautiful form of, you guessed it, juicy fresh buy stops with exact same entry and TPs !

Quoting RaHaG0D
{quote} Yes, all traders have telepathy together on the same level. mtako isn't here now, I will post pic instead of him. Let's not be too formal {image}
that photo of me?!!!!! wow, I love it, thoughtful and hilarious. You made my day dear RaHaG0D!



P.S And you were sooo generous with my surroundings also. May my new friends follow me from FF to my dreams
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #178,505
  • Aug 21, 2023 11:32am Aug 21, 2023 11:32am
Quoting pedro319
{quote} Trading plan. I bought at support, lowest at 1,0846. When we get to 1.0930, will be first hedge on longs, if prices moves above will take small loss and reenter at 1.0960-80 for the first leg down. I am following the shape of the inverted H&S and placing trades accordingly. There is also possibility of another larger inverted H&S, the neckline stands at 1.1030. If I see any acceleration up, selling will be suspended until new assessment.
Alternative larger inverted H&S, neckline at 1.1030. H4 chart.
All my trading this week is going to be about the patterns posted and quality of the price action, that will decide whether price is doing what it should be doing vis-a-vis the patterns.
I will be ready also to trade their failure, if that is the case.
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We watch the charts from every angle so you don't have to!!
  • #178,506
  • Aug 21, 2023 12:02pm Aug 21, 2023 12:02pm
Quoting pedro319
{quote} Alternative larger inverted H&S, neckline at 1.1030. H4 chart. All my trading this week is going to be about the patterns posted and quality of the price action, that will decide whether price is doing what it should be doing vis-a-vis the patterns. I will be ready also to trade their failure, if that is the case. {image}
Pedro! So nice to see that you are still here! Enjoying your 4H view!

That down movement is still oh so steady. Lows are shallow and it's moving oh sooo slow.
But these levels have supported beautifully in the past, even recent past in this uptrend.
Nonetheless, if it just keeps doing what it is doing, we won't see >1.1 before <1.08.
It might take a couple of years at this speed.
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #178,507
  • Aug 21, 2023 12:14pm Aug 21, 2023 12:14pm
Quoting mtako
{quote} Pedro! So nice to see you are still here! Enjoying your 4H view! That down movement is still oh so steady. Lows are shallow and it's moving oh sooo slow. But these levels have supported beautifully in the past, even recent past in this uptrend. Nonetheless, if it just keeps doing what it is doing, we won't see >1.1 before <1.08. It might take couple of years at this speed. {image}
Usually when price moves like this, forms new patterns. That is the only help I am getting at the moment.
In theory we should get retracement to 1.0960-80 and continuation down to 1.0750-00.
For that to happen the two patterns will have to fail in addition to choppy slow retracement to 1.0960-80.
In another words, if we get acceleration up, it will be the first sign that the patterns might work and indeed higher retracement will come.
That is why I will be hedging from any significant level, at the moment there is no reason to believe this is a reversal.
The situation with the U.S Bond market with yields climbing to 5 % is the problem for the bullish view.
So, step by step and with all the bits of evidence gathered we will be able to decipher the enigma.
It is nice to see you too and discuss FX.
Cheers.
We watch the charts from every angle so you don't have to!!
  • #178,508
  • Aug 21, 2023 12:18pm Aug 21, 2023 12:18pm
Quoting pedro319
{quote} Alternative larger inverted H&S, neckline at 1.1030. H4 chart. All my trading this week is going to be about the patterns posted and quality of the price action, that will decide whether price is doing what it should be doing vis-a-vis the patterns. I will be ready also to trade their failure, if that is the case. {image}
Anybody who has not seen this buy that is about to explode upwards is sleeping on a bicycle. Hehehe... I have bought boat loads. This is one of the simplest trades for me. The pattern is there. The shape and what I secretly refer to as "shape balance" which I wont explain here, are all in sync.

I see the most recent lower highs getting tapped out. 1.0960 is first flight destination. I will jump out of the flight there.
  • #178,509
  • Aug 21, 2023 12:26pm Aug 21, 2023 12:26pm
Quoting Mitiblotch
{quote} Anybody who has not seen this buy that is about to explode upwards is sleeping on a bicycle. Hehehe... I have bought boat loads. This is one of the simplest trades for me. The pattern is there. The shape and what I secretly refer to as "shape balance" which I wont explain here, are all in sync. I see the most recent lower highs getting tapped out. 1.0960 is first flight destination. I will jump out of the flight there.
I agree.
I like to be 2 steps ahead of the market as you may have noticed, so I am ready to whatever changes that we don't see yet.
To do that I have the patterns + pure price action, let's see if the two agree.
If you are making money, please squeeze every penny you are able to.
I find these times of high inflation the best to trade.
Cheers.
We watch the charts from every angle so you don't have to!!
  • #178,510
  • Edited 12:42pm Aug 21, 2023 12:31pm | Edited 12:42pm
Quoting pedro319
{quote} Usually when price moves like this, forms new patterns. That is the only help I am getting at the moment. In theory we should get retracement to 1.0960-80 and continuation down to 1.0750-00. For that to happen the two patterns will have to fail in addition to choppy slow retracement to 1.0960-80. In another words, if we get acceleration up, it will be the first sign that the patterns might work and indeed higher retracement will come. That is why I will be hedging from any significant level, at the moment there is no reason to believe this...
Interesting. And we are in the middle of the year's move ! New low or new high of the year fellows!? It just got a bit closer to the low of the year, but now back closer to a new high, rambling heaven.

This +-400 pips price cycle has been a nice ride. Support above the middle of it, >1.1060, and/or <1.08, would give me even more long-term setups.
Quoting Mitiblotch
{quote} Anybody who has not seen this buy that is about to explode upwards is sleeping on a bicycle. Hehehe... I have bought boat loads. This is one of the simplest trades for me. The pattern is there. The shape and what I secretly refer to as "shape balance" which I wont explain here, are all in sync. I see the most recent lower highs getting tapped out. 1.0960 is first flight destination. I will jump out of the flight there.
Wishing you all the best with your buying mate! , and I'm clearly on board, but even more so after we finally get out of this steady down movement!
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #178,511
  • Aug 21, 2023 12:54pm Aug 21, 2023 12:54pm
Imo it is a dangerous level to make assumptions. I too have being watching the H&S formation but often a well established formation is deliberately hacked for good profits and liquidation in the opposite direction. There is still hard resistance (yellow line) to break to get to the right shoulder.

There are strong signals that the bears have a strong foothold in the market at the moment. The weekly has a 61.8% correction and also a rising wedge BO from last week, far from confirmed yet though.

If the current 4hr candle confirms to be a hard bear candle (1 hr to close candle) as it is now it will encourage me to give my shorts a bit of room to move for a further push lower.

I am not LT biased in a direction and not willing to discount one or the other.
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As the lights go by so too do the shadows move
  • #178,512
  • Aug 21, 2023 12:56pm Aug 21, 2023 12:56pm
Quoting mtako
{quote}...This +-400 pips price cycle has been a nice ride. Support above the middle of it, >1.1060...
Reminding myself of the very real uptrend, and that it took this down movement nearly 4X the time to take price back down to beginning of July levels, the start of the last great rise, which was pulled off in less than two weeks by crazy raging on fire bulls, that we have not seen since.
Alas, so much slower does not mean it is bound for a continuation of the trend and a new high. But we are still +-250pips from previous higher low of this uptrend, on the larger scale = from the HH HL perspective, we have been having a perfect uptrend for almost one full year now which, one could argue, still outweighs whatever happens in these choppy seas right here right now!

Mr.Bear sure is happy for now though. He is still thriving but at a much slower pace, but maybe because of his vacation in the marvellous South of France, oh Oui!! !
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #178,513
  • Aug 21, 2023 1:12pm Aug 21, 2023 1:12pm
Quoting Matts Micro
Imo it is a dangerous level to make assumptions. I too have being watching the H&S formation but often a well established formation is deliberately hacked for good profits and liquidation in the opposite direction. There is still hard resistance (yellow line) to break to get to the right shoulder. There are strong signals that the bears have a strong foothold in the market at the moment. The weekly has a 61.8% correction and also a rising wedge BO from last week, far from confirmed yet though. If the current 4hr candle confirms to be a hard...
Exactly, a H&S is not a H&S until the neckline is confirmed broken, and even then, might be a pattern and still could fail as a trade.

The posted chart doesn't even have a right shoulder, purely speculation, crystal balling, and projected hope is all they have.

Not falling for it, let's see where is goes, market is just playing with until the big news later this week.

Cheers

It takes a lot for me to IGNORE you, but you can try.
  • #178,514
  • Aug 21, 2023 1:26pm Aug 21, 2023 1:26pm
With Pedro, I find that it is worth reading previous posts. One would clearly understand that he was talking about the possible pattern, but acting on a set of factors that far encompasses this mere possibility...

P.S Leave the crystal balling to me folks!, and I've got a yummy one on top of that !
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #178,515
  • Aug 21, 2023 1:37pm Aug 21, 2023 1:37pm
I wish if it close at 1.09000+. Then i can feel more happy
But any way we get some up setup. +

Have a good night guys.
  • #178,516
  • Aug 21, 2023 1:42pm Aug 21, 2023 1:42pm
There is no opposition to the potential of a pattern formation as it is how I often trade. Looking to the right of the chart for formations is to be commended and exhibits foresight and a skill to be developed. It will give a trader an edge.

It is why I enjoy posting on these threads as I often see my own bias challenged and forces me to rethink my strategy. I also post my thoughts just for a constructive view that potentially may help others to come to a decision.

Green pips.
As the lights go by so too do the shadows move
  • #178,517
  • Aug 21, 2023 1:56pm Aug 21, 2023 1:56pm
Quoting mtako
{quote}Yes, I agree, move in a given time-span is......
Quoting RaHaG0D
{quote} It always amazes me how you find the time to write such long texts with the always fun & funny photos. The abilities of your mind are amazing. {image}
No, you are amazing!
It's really just the power of this inspiring thread +
The power of caring+
The power of laughter+
Finding the balance between mindfully slowing down to speed things up, and mindfully speeding things up to slow things down+
Making a habit of focusing on a proven set of rules so much so as to tame the illusion of time and direction, and moving passed them.

Big Cheers, always!

Oh! I almost forgot, and of course, there's no better way to slow down time than to (be sure to read all the way down):
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #178,518
  • Aug 21, 2023 2:09pm Aug 21, 2023 2:09pm
Good evening, hope you're well. For tomorrow, I have 1.0913 as resistance, and 1.0873 as support, 1H;
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  • #178,519
  • Aug 21, 2023 2:11pm Aug 21, 2023 2:11pm
That is all for now folks !

Oh wait, oh no, is it? can't be! It is :

Have a most amazing Taco Tuesday dear fellow traders, and may your day's trading be as good as my best taco !!!
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #178,520
  • Aug 21, 2023 5:31pm Aug 21, 2023 5:31pm
support holding?

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Profit is on the other side of your mind
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