Support and Resistance, Swing / Long term trading

Quoting TheCardinal

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Just went short on EA Monthly: At KL {image} Weekly: We had a move above the KL and now we are retesting the KL and had a reaction (a bit like a head&shoulder and we are seing the right shoulder) {image} Daily: Engulfing with the highest highs of the previous bars and a lower low {image} We are against the flow on the higher time frame so I will be moving to BE after +30-50 pips

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Quoting TheCardinal

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Just went short on EA Monthly: At KL {image} Weekly: We had a move above the KL and now we are retesting the KL and had a reaction (a bit like a head&shoulder and we are seing the right shoulder) {image} Daily: Engulfing with the highest highs of the previous bars and a lower low {image} We are against the flow on the higher time frame so I will be moving to BE after +30-50 pips

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Quoting mallee

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CADJPY WKLY{image}. Looks like a rerating of the JPY.

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Quoting TheCardinal

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Alright, so....after much deliberation & thinking within the committee (myself and I), I've decided to just trade the technicals, specially since my confirmation is on the Weekly TF at a Monthly resistance zone, to take the trade and try a short against my best judgement. So... Pending order short @ 109.675 at the 50% retracement of the Engulfing SL: 125 pips TP: TBD Weekly Bearish Engulfing {image}

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Quoting TheCardinal

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{quote} We finally got it back to our entry BE. Am I getting out? I thought of closing partially my position and only risk 0.5% instead of my usual 1% and the reason is NOT because I have a chance to "get out without a loss when it was in the red". Thats just a bad reason and you let emotions take your decisions. It never ends well. {image} The only reason I thought about it is because we had a WEEKLY candle close above my resistance KL as you can see in the picture above. This usually means trouble. I will keep my position as it is and try to move...

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Quoting TheCardinal

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{quote} Alright so closing this one partially. So 50% off at BE and Im letting the other half running just to see what happens cause "we never know" {image} Im closing because I see this as making higher highs and higher lows and we had a Weekly break & closure above my KL WITH a BULLISH PB as shown below {image} This came close to stopping me out lol

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Quoting TheCardinal

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{quote} Stop moved to BE {image}

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Quoting TheCardinal

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GBPAUD seems to be losing steams. Seems a little exhausted. {image} Flow is still UP as long as we remain above the blue box. Weekly looking mostly the same. No signs of direction for fow (no Pinbars or Engulfing). {image} I will look at how the week closes tonight and what PA (price action) will do next week. If we have a DAILY close below the blue box, I will try a short until we reach the green box. Then, I will keep my short, close some profits (partials), and hedge long. In my opinion, if price had to go up to continue its uptrend, if would...

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Quoting TheCardinal

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EURCHF entering short now. Anyone has an idea why?

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Quoting TheCardinal

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{quote} In and moved SL to BE. Sin ce nobody asked why or tried an opinion, I will just keep my chart to myself. I have 2 open positions currently. EURCHF SL at BE EURGBP SL at BE & partials taken

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Quoting Daveedy

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{quote} {image}

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