There is a Triangle pattern on EURUSD, a possible trend continuation, but there is no trigger today, and the pair is still sideways.
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I trade at FXOpen
- #200,942
- Aug 12, 2024 1:37am Aug 12, 2024 1:37am
- Joined Jul 2011 | Status: Trader | 3,130 Posts | Online Now
Holy Betting Grail strategy
- #200,943
- Aug 12, 2024 2:05am Aug 12, 2024 2:05am
After last week's high I expect a retracement up to 1.096 figure then for the long term 3 things are happening from my POV.
1. Price dropping below 1.0448 to take out the sell stops and SL.
2. Price going back to above 1.101 to take out the buy stops and stop losses from last week opened positions.
3. Price dropping to the Fair Value Gap around 1.012.
Another Scenario would be:
1.
3.
2.
Since 1.0448 levels are much closer to 1.01 figure.
1. Price dropping below 1.0448 to take out the sell stops and SL.
2. Price going back to above 1.101 to take out the buy stops and stop losses from last week opened positions.
3. Price dropping to the Fair Value Gap around 1.012.
Another Scenario would be:
1.
3.
2.
Since 1.0448 levels are much closer to 1.01 figure.
GMT(+3)
- #200,944
- Aug 12, 2024 2:19am Aug 12, 2024 2:19am
- Joined May 2014 | Status: Full Time Trader | 27,096 Posts
Meanwhile, on H1...
I am marking 1.0919 area as nearest support and latest breakout level.. Rinse and repeat buying dips until simple logic fails...
Happy new trading week to all
I am marking 1.0919 area as nearest support and latest breakout level.. Rinse and repeat buying dips until simple logic fails...
Happy new trading week to all
Focus only on what truly matters!
- #200,949
- Aug 12, 2024 9:22am Aug 12, 2024 9:22am
- Joined Jan 2021 | Status: Trader | 2,613 Posts
Placed my buystop on EURUSD and waiting to be triggered {image}
- #200,950
- Aug 12, 2024 9:33am Aug 12, 2024 9:33am
- Joined May 2014 | Status: Full Time Trader | 27,096 Posts
{quote} why would you buy at resistance bro
2) 1.0914 area provides support with extra backup from blue trendline: 1.0890 area roughly...
3) Soon, candles are making their way out from ellipse!
Best wishes
Focus only on what truly matters!
{quote} 1) We are still in bullish territory on H4 2) 1.0914 area provides support with extra backup from blue trendline: 1.0890 area roughly... 3) Soon, candles are making their way out from ellipse! Best wishes
Hi...thanks!
I see visa versa, it has potential to decrease rapidly and breaks the 1.9170 strength
Best Regards,
KnightAR33
- #200,952
- Aug 12, 2024 10:56am Aug 12, 2024 10:56am
- Joined May 2014 | Status: Full Time Trader | 27,096 Posts
{quote} EURUSD
Focus only on what truly matters!
- #200,953
- Aug 12, 2024 11:01am Aug 12, 2024 11:01am
- | Commercial User | Joined Dec 2023 | 2,121 Posts
{quote} What can I say.. Seems like you already have decided what market should do... But does the market know?
{quote} What can I say.. Seems like you already have decided what market should do... But does the market know?
To be honest, I saw today's action as a false breakout and a trap for new buyers. I've been focusing on this for more than a week, and based on my method, I think it will decrease quickly after this deception. However, as you know, all our skills, methods, and indicators can only improve a 50-50 chance to about 60-40. So, there's still a 40 percent chance we could be wrong.
Thanks
{quote}
- #200,956
- Aug 12, 2024 12:07pm Aug 12, 2024 12:07pm
- | Commercial User | Joined Dec 2023 | 2,121 Posts
- #200,960
- Aug 13, 2024 1:20am Aug 13, 2024 1:20am
- Joined May 2014 | Status: Full Time Trader | 27,096 Posts
Meanwhile, on H4...
- Breakout from ellipse occurred... 1.0914 area is still the latest breakout level and support...
- Waiting for London opening...
Happy trading day to all
Focus only on what truly matters!