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  • #178,861
  • Aug 24, 2023 11:04pm Aug 24, 2023 11:04pm
Quoting Js3mwtRc
EU surprisingly continued its drop below 1.0800 at Asia and now it's near an important support - 1.0772. Below there is more space to 1.0733 if that level breaks. Resistance now is at 1.0833. Daily Volatility (range) - 48 pips Significant News - University Michigan Sentiment Final & Fed Chair Jerome Powell's speech 1 hour {image} Good luck!
This is how a good downtrend behaves. No higher highs, all attempts to rise are snuffed out prematurely, and price continues to take a good old dip.

London will open with a stunning effect down move to wipe long-suffering bulls before any attempt to correct the unbalance. 1.0765 here we come.
  • #178,862
  • Aug 24, 2023 11:07pm Aug 24, 2023 11:07pm
Quoting Mitiblotch
{quote} This is how a good downtrend behaves. No higher highs, all attempts to rise are snuffed out prematurely, and price continues to take a good old dip. London will open with a stunning effect down move to wipe long-suffering bulls before any attempt to correct the unbalance. 1.0765 here we come.
agree bear in full control mode and do not try to catch the falling knives!
Patience, Emotion Control and Discipline.
  • #178,863
  • Aug 24, 2023 11:13pm Aug 24, 2023 11:13pm
I have 100SMA on 5M time frame this is my flip line below sell above buy.
  • #178,864
  • Aug 24, 2023 11:34pm Aug 24, 2023 11:34pm
Quoting Mitiblotch
{quote} This is how a good downtrend behaves. No higher highs, all attempts to rise are snuffed out prematurely, and price continues to take a good old dip. London will open with a stunning effect down move to wipe long-suffering bulls before any attempt to correct the unbalance. 1.0765 here we come.
Yes, no chance to buy, anyway all pieces are falling into the puzzle, after a down move comes an upmove and the bloodbath continues.
Looking for profitable short term trades ...|
  • #178,865
  • Aug 24, 2023 11:43pm Aug 24, 2023 11:43pm
Quoting Js3mwtRc
EU surprisingly continued its drop below 1.0800 at Asia and now it's near an important support - 1.0772. Below there is more space to 1.0733 if that level breaks. Resistance now is at 1.0833. Daily Volatility (range) - 48 pips Significant News - University Michigan Sentiment Final & Fed Chair Jerome Powell's speech 1 hour {image} Good luck!
Nice chart as always
1.071 - 1.06957 is easily seen today
This bear has a huge appetite & will not be satisfied very hungry
Then such a drop of 500 pips that can reach 600 pips will be corrected & the downward trend will continue.
On my monthly chart, its bullish harmonic pattern is completed at 1.02!!!
Good Luck to you
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There is nothing wrong with being kind & loving to each other
  • #178,866
  • Aug 24, 2023 11:48pm Aug 24, 2023 11:48pm
Quoting RaHaG0D
{quote} Nice chart as always 1.071 - 1.06957 is easily seen today This bear has a huge appetite & will not be satisfied very hungry Then such a drop of 500 pips that can reach 600 pips will be corrected & the downward trend will continue. On my monthly chart, its bullish harmonic pattern is completed at 1.02!!! Good Luck to you {image}
Thank you. Smart bear, there is plenty of food on the table. First things first, 1.0635 if we get a close below 1.0800/33 on weekly.

Have fun
Looking for profitable short term trades ...|
  • #178,867
  • Aug 24, 2023 11:49pm Aug 24, 2023 11:49pm
Quoting Walz
I have 100SMA on 5M time frame this is my flip line below sell above buy.
Maybe 1.0805 and then down again.
Looking for profitable short term trades ...|
  • #178,868
  • Aug 25, 2023 12:00am Aug 25, 2023 12:00am
We are in a good PRZ that can go up 150 - 200 pips from here if this trend is going to continue.
My plan today: I will check this area in 4H to buy.
The 4H Bullish harmonic pattern also starts at 1.07281
Attached Image (click to enlarge)
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  • #178,869
  • Aug 25, 2023 12:06am Aug 25, 2023 12:06am
Today, all I care is weekly support level: 1.0766 area (a touch to 1.0750 possible with momentum)...

Let's see if bears pierce through or bulls take back control..

Happy trading day to all
Focus only on what truly matters!
  • #178,870
  • Aug 25, 2023 12:30am Aug 25, 2023 12:30am
Quoting RaHaG0D
We are in a good PRZ that can go up 150 - 200 pips from here if this trend is going to continue. My plan today: I will check this area in 4H to buy. The 4H Bullish harmonic pattern also starts at 1.07281 {image}
It is interesting to see how you are going to play it.
Looking for profitable short term trades ...|
  • #178,871
  • Aug 25, 2023 12:30am Aug 25, 2023 12:30am
Catching an EU long till the next major supply zone. Look how there was a wick down which was a fakeout of sellers, then bullish candles appear with volatility. Price respected the minor demand zone. We have indication that momentum was flipping bullish, got my final confirmation which is a bullish engulfing fractal bar so let's see how this plays out. (The andrews pitchfork centerline is an aproximation of the area where buyers might appear, which worked perfectly well.) let'see how this goes,,,,
If you are familiar with ICT concepts, there's alot a bullish orderblock in confluence.
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  • #178,872
  • Aug 25, 2023 1:03am Aug 25, 2023 1:03am
Quoting RaHaG0D
We are in a good PRZ that can go up 150 - 200 pips from here if this trend is going to continue. My plan today: I will check this area in 4H to buy. The 4H Bullish harmonic pattern also starts at 1.07281 {image}
Great charting!
I don't need to say anything else.
We watch the charts from every angle so you don't have to!!
  • #178,873
  • Aug 25, 2023 1:32am Aug 25, 2023 1:32am
Quoting pedro319
{quote} Great charting! I don't need to say anything else.
It's always nice to hear positive words
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  • #178,874
  • Aug 25, 2023 1:48am Aug 25, 2023 1:48am
Quoting Js3mwtRc
{quote} It is interesting to see how you are going to play it.
This area is about 70 pips & I buy every 20 pips. The first buy was made with the smallest lot.
All stops are below this area(Some longs will be kept, of course). I expect the price to go to 1.06957 (at that price, I have a mismatch between the price & stochastic in 4H), I will buy again in that area.
My capital & account management is ok for the loss of 10000 pips & I have a hedge & it isn't suitable for anyone else. I don't get out of my trade at a loss. Fortunately, I am a perfectionist I like this my trait very much
Good luck my experienced friend
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  • #178,875
  • Aug 25, 2023 1:49am Aug 25, 2023 1:49am
Quoting Matts Micro
Imo it could be a dangerous zone for the buyers. There isn't much support left on the weekly chart for about a 200 pip drop and with added momentum potentially further. Possibly a rising channel forming but little else (rising channel is also a bearish outlook but may give the bulls a temporary reprieve). If we enter the red zone it appears to be open water for the trend. At the moment we still balance on top of it but the ice is getting thinner. {image}
Price is close to weekly rising channel line. I may exit one of my positions on next dip if it comes. Bears will want some liquidity to take further down.
As the lights go by so too do the shadows move
  • #178,876
  • Aug 25, 2023 1:54am Aug 25, 2023 1:54am
Quoting RaHaG0D
{quote} This area is about 70 pips & I buy every 20 pips. The first buy was made with the smallest lot. All stops are below this area(Some longs will be kept, of course). I expect the price to go to 1.06957 (at that price, I have a mismatch between the price & stochastic in 4H), I will buy again in that area. My capital & account management is ok for the loss of 10000 pips & I have a hedge & it isn't suitable for anyone else. I don't get out of my trade at a loss. Fortunately, I am a perfectionist I like this my trait very much...
Sounds good if it succeed, I am waiting next week to see how the long positioning is going to unfold and will react according (buy or sell) of where the price is going to find weakness, most probably a seller.

Thanks and good luck to you too!
Looking for profitable short term trades ...|
  • #178,877
  • Aug 25, 2023 1:54am Aug 25, 2023 1:54am
HTF view
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  • #178,878
  • Aug 25, 2023 1:55am Aug 25, 2023 1:55am
Quoting Mitiblotch
{quote} Can you remember when last Jackson Hole moved the market up to 50 pips?
All Jackson Symposium I have experienced have move a minimum of 150 pips. It'd usually on day 2 which is today
Risk comes from not knowing what to do
  • #178,879
  • Aug 25, 2023 2:00am Aug 25, 2023 2:00am
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  • #178,880
  • Aug 25, 2023 2:11am Aug 25, 2023 2:11am
This is how I expect today to play out.
We should buy from current levels to 1.09279...this might take from now till Powell starts his speech. Then we sell from 1.09279 till 1.07125
Risk comes from not knowing what to do
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