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New Cable Thread & Other Pairs

  • #7,661
  • Jul 18, 2024 1:54pm Jul 18, 2024 1:54pm
Hi ppl

for me 1,0885 if it falls lower 1,0842 will be next
macd divergence 4h and as always with big move up big move down .l
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Scalping
  • #7,662
  • Jul 18, 2024 2:01pm Jul 18, 2024 2:01pm
Quoting SmallGains
{quote} thanks. What kind of retracement on fib would we be looking for before more down?
.618 fib on D1.
This is good also for ppl who want to hedge their shorts.
We watch the charts from every angle so you don't have to!!
  • #7,663
  • Jul 18, 2024 2:06pm Jul 18, 2024 2:06pm
Shit, gold is falling like a rock !!!

And I closed all my shorts ... story of my life...
  • #7,664
  • Jul 18, 2024 2:09pm Jul 18, 2024 2:09pm
Quoting pedro319
{quote} There are still couple of things that need to happen.
The Gold Sell Megatrade is going well. Entered at 2467 and now 2445 and getting better. Hopefully will reach TP by Monday if all goes well.
Attached Image (click to enlarge)
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Observation is the path to discovery.
  • #7,665
  • Jul 18, 2024 2:09pm Jul 18, 2024 2:09pm
Quoting pedro319
{quote} .618 fib on D1. This is good also for ppl who want to hedge their shorts.
thanks one more question so what time frame do you typical give it?
  • #7,666
  • Jul 18, 2024 2:12pm Jul 18, 2024 2:12pm
Quoting Alorente
{quote} The Gold Sell Megatrade is going well. Entered at 2467 and now 2445 and getting better. Hopefully will reach TP by Monday if all goes well. {image}

My only problem is how the price behaved at the top. Meaning that if they wanted it to be a real top, the price should have dropped immediately after reaching it to trap as many people going long as possible. With that setup everyone that was long had a second and a third chance to close everything and go short...

So in the back of my mind there is still that idea that they are faking this shit going down and tomorrow they will pump it to the moon!!!

However this fall looks genuine ...
  • #7,667
  • Jul 18, 2024 2:18pm Jul 18, 2024 2:18pm
Quoting Alorente
{quote} The Gold Sell Megatrade is going well. Entered at 2467 and now 2445 and getting better. Hopefully will reach TP by Monday if all goes well. {image}
Take profit in parts, I don't know why most ppl close the trades completely anyway.
We watch the charts from every angle so you don't have to!!
  • #7,668
  • Jul 18, 2024 2:19pm Jul 18, 2024 2:19pm
Guys, don't forget our Gold setup from the morning, it's good for retest of the broken channel.
We watch the charts from every angle so you don't have to!!
  • #7,669
  • Jul 18, 2024 2:19pm Jul 18, 2024 2:19pm
Quoting NrSLionHeart
{quote} My only problem is how the price behaved at the top. Meaning that if they wanted it to be a real top, the price should have dropped immediately after reaching it to trap as many people going long as possible. With that setup everyone that was long had a second and a third chance to close everything and go short... So in the back of my mind there is still that idea that they are faking this shit going down and tomorrow they will pump it to the moon!!! However this fall looks genuine ...
I am trailing price by $7, so if it bounces, no problem. It looks pretty solid down though. I would not try to catch this falling knife...
Observation is the path to discovery.
  • #7,670
  • Jul 18, 2024 2:26pm Jul 18, 2024 2:26pm
Quoting Alorente
{quote} I am trailing price by $7, so if it bounces, no problem. It looks pretty solid down though. I would not try to catch this falling knife...
I assume that you are a competent trader, however looking at your setup I see that you have an EMA of like 42 or something with those +200 and -200 levels or whatever. If you want an (unasked) advice I would say that you should go with a polynomial regression channel instead of the MA because it determines better when the price will revert back to the mean (I assume that you use that channel generated by the MA to determine when the price will change direction and revert to the mean).
Attached Image (click to enlarge)
Click to Enlarge Name: 18 July EUR 1h setup.jpg Size: 242 KB

This is the setup I am working on for EURUSD 1h.
  • #7,671
  • Jul 18, 2024 2:28pm Jul 18, 2024 2:28pm
The arrows are buy and sell signals, the EMAs are 13 and 43 and the zig zag is determined based on the 2 EMA intersects...

@Pedro - this is why I laugh when I see you buying - you are correct, probably the price will bounce now back to the top of the channell, but as you can see that will be the final top, after that we should go down
  • #7,672
  • Jul 18, 2024 2:32pm Jul 18, 2024 2:32pm
Quoting Alorente
{quote} I am trailing price by $7, so if it bounces, no problem. It looks pretty solid down though. I would not try to catch this falling knife...

@Alorente - you have my apologies, looking at the graph again, you DO HAVE those polinomial channels but with their blue color + the fact that I am tired I did not see them!!!
  • #7,673
  • Jul 18, 2024 2:34pm Jul 18, 2024 2:34pm
Quoting NrSLionHeart
The arrows are buy and sell signals, the EMAs are 13 and 43 and the zig zag is determined based on the 2 EMA intersects... @Pedro - this is why I laugh when I see you buying - you are correct, probably the price will bounce now back to the top of the channell, but as you can see that will be the final top, after that we should go down
I am not closing my shorts even if WW 3 starts.
But I use the other levels to scalp in any direction.
We watch the charts from every angle so you don't have to!!
  • #7,674
  • Jul 18, 2024 2:34pm Jul 18, 2024 2:34pm
Quoting NrSLionHeart
{quote} I assume that you are a competent trader, however looking at your setup I see that you have an EMA of like 42 or something with those +200 and -200 levels or whatever. If you want an (unasked) advice I would say that you should go with a polynomial regression channel instead of the MA because it determines better when the price will revert back to the mean (I assume that you use that channel generated by the MA to determine when the price will change direction and revert to the mean).{image} This is the setup I am working on for EURUSD 1h....
I trade with my Extreme TMA system. I have a thread for it that I started in 2012. I have changed it quite a bit since those days, and it is still making steady pips today.

The MA´s are just for visual reference and are not part of the system itself.
Observation is the path to discovery.
  • #7,675
  • Jul 18, 2024 2:41pm Jul 18, 2024 2:41pm
Hi Guys,

Sorry for my unclear chart. I don't really have time in this period to improve my charts.
But I want to share my target based on the followings:
- Btfly: 2415
- Trend line: 2415
- Fibo Confluence support 2411-2400
- Trend based Fibo 1,618 at 2422
- MA 200: 2411
I hope we will reach this area.

I learned a lesson today. I will not trade any more from mobile phone. Not enough information. It was an expensive lesson.

And of course I would like to mention that it was great to read your comments in this thread. Thank you all!
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  • #7,676
  • Jul 18, 2024 2:45pm Jul 18, 2024 2:45pm
Quoting Mihisti
Hi Guys, Sorry for my unclear chart. I don't really have time in this period to improve my charts. But I want to share my target based on the followings: - Btfly: 2415 - Trend line: 2415 - Fibo Confluence support 2411-2400 - Trend based Fibo 1,618 at 2422 - MA 200: 2411 I hope we will reach this area. I learned a lesson today. I will not trade any more from mobile phone. Not enough information. It was an expensive lesson. And of course I would like to mention that it was great to read your comments in this thread. Thank you all! {image}
I just posted that level, it's good for .618 Fx bible trade.
Cheerio.
We watch the charts from every angle so you don't have to!!
  • #7,677
  • Jul 18, 2024 2:51pm Jul 18, 2024 2:51pm
Quoting pedro319
{quote} Take profit in parts, I don't know why most ppl close the trades completely anyway.
I just closed half the gold shorts. I expect a bounce around this level. Not much, maybe $10 but will reenter when completed.
Observation is the path to discovery.
  • #7,678
  • Jul 18, 2024 2:52pm Jul 18, 2024 2:52pm
Quoting Alorente
{quote} I just closed half the gold shorts. I expect a bounce around this level. Not much, maybe $10 but will reenter when completed.
I always take half and move stops, except for longer term.
We watch the charts from every angle so you don't have to!!
  • #7,679
  • Jul 18, 2024 2:56pm Jul 18, 2024 2:56pm
Quoting pedro319
{quote} I just posted that level, it's good for .618 Fx bible trade. Cheerio.
I saw Mr Pedro and I believe in FX Bible!
  • #7,680
  • Jul 18, 2024 3:07pm Jul 18, 2024 3:07pm
Ooo, at DXY we will and the day with a great bullish engulfing D1? My Gold shorts like it!
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