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  • #61
  • Nov 20, 2024 9:49pm Nov 20, 2024 9:49pm
Quoting Tools
So we gót the TP with the down move, it triggered an up move to cross our downtrend line, which was crossed about an hour ago. Now it time to sell for a new low. {image} The H1 got so flat it almost acts like a free money trend line, so I don’t see much chances for higer break outs.
Thanks for sharing very useful knowledge...I am participating in the same game. ..
...still working like clockwork..
I scalped a little yesterday for sports interest...and today I did opposite entry again.. .
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  • #62
  • Nov 21, 2024 12:21am Nov 21, 2024 12:21am
Quoting Tools
{image} Here is the H1 I will be traveling and I can check on the chart in 5 hours time. let’s see how it goes.
great on eurusd, wish I didnt closed my previous nzdusd with little profit yesterday, today should be a jackpot on nzdusd.... but still am I the only one who still confused with this strategy
  • #63
  • Nov 21, 2024 12:39am Nov 21, 2024 12:39am
Absolute profit with zero risk, stop is alteady in plus
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  • #64
  • Nov 21, 2024 12:41am Nov 21, 2024 12:41am
Quoting anilamil
{quote} great on eurusd, wish I didnt closed my previous nzdusd with little profit yesterday, today should be a jackpot on nzdusd.... but still am I the only one who still confused with this strategy
its simple, if something goes up it will have to come down and vica versa.

read back the first post and anything starting after post 15.
  • #65
  • Nov 21, 2024 4:55am Nov 21, 2024 4:55am
Quoting Tools
Absolute profit with zero risk, stop is alteady in plus {image}
Just a quick tip in case you didn't know, because I also have to work from my phone a lot of the day.

If you scroll to the right where the indicators button is on mobile you can get a share chart button that creates a cleaner image of your chart. Quite nice for mobile which could be cluttered I find.
  • #66
  • Nov 21, 2024 5:46am Nov 21, 2024 5:46am
Quoting MachineLearn
{quote} Just a quick tip in case you didn't know, because I also have to work from my phone a lot of the day. If you scroll to the right where the indicators button is on mobile you can get a share chart button that creates a cleaner image of your chart. Quite nice for mobile which could be cluttered I find.
Thanks for the tip!!
  • #67
  • Nov 21, 2024 5:47am Nov 21, 2024 5:47am
So the news pushed up the price a bit, can give you a new level of entry again towards the green line:

Updated the chart a bit, since our trend line was crossed and we have a new @possible@ orange marker
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  • #68
  • Nov 21, 2024 6:23am Nov 21, 2024 6:23am
Quoting Tools
So the news pushed up the price a bit, can give you a new level of entry again towards the green line: Updated the chart a bit, since our trend line was crossed and we have a new @possible@ orange marker {image}
"a new @possible@ orange marker". Does this mean that it become real "orange marker" when price will do NEW LOW?:
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  • #69
  • Nov 21, 2024 9:29am Nov 21, 2024 9:29am
Lots of important news Tomorrow...trend lines may not hold...
Another good day today..
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  • #70
  • Nov 21, 2024 11:14am Nov 21, 2024 11:14am
So we have smashed that green TP marker:


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All is according to our plans, so next stop is to touch the trend line, as you can see, I made a clone of that line, which was put to the last known bottom, so the channels shows how far are we to the actual trend line, if we are below that line we are in the best buy zone to get to the uptrend line.


Key thing to note is that we have just made a new low, so we are expecting some counter move but at this stage it will be likely that we might get some more depths. So let's check a higher time frame.

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I have marked a good entry zone, let's see what waits for us tomorrow mowning
  • #71
  • Nov 21, 2024 8:38pm Nov 21, 2024 8:38pm
Updated the channel, anywhere below the previous low, and under the channel, is a decent entry.

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so far it is waiting for market Open.
  • #72
  • Nov 21, 2024 11:23pm Nov 21, 2024 11:23pm
So right now, since we are right before some major news, its a bit risky to trade:

But here are the level of questions that each time frame gives us:

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5m, we are too high in the channel to go for a buy, better chances to step in to a short when we break the down trend line. Stop around the orange marker.

The H1 tells me in this quick draft, that the down trend has reached the orange marker of the previous up trend, which means it has fulfilled its destiny for sure, and it should retest the new down trend line.

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As you see at this moment we are 635 points away from the trend line, with an ultimate low in it. So a rebound is really likely.

On the daily however, we see a possible rebound from the MAJOR down trend so two possibilities:

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1: All time low comes and we wll see sub 1 EURUSD - the RED marker is a critical point
2: the price rebounds now! before crossing the red line, and we finally do a cross on the major trend line.

If the RED is crossed, we can for get the EUR getting any stronger for the comign years!
  • #73
  • Nov 21, 2024 11:54pm Nov 21, 2024 11:54pm
So what I wanted to add is simply, the best is always to decide what are your terms, like I am a day trader, so I should check the lowers time frames. Like we do on the 5m chart.

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So far the paper work does its job, so we will see soon. NEWS TIME!
  • #74
  • Nov 22, 2024 12:14am Nov 22, 2024 12:14am
Likely we will go short on this if it goes above the trend line:
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That little uptrend line won't hold much. That is our target.
  • #75
  • Nov 22, 2024 12:16am Nov 22, 2024 12:16am
Well, it did not make it to the trend line, no entry:

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I have added an alert to that trend line. Maybe we get an entry later.
  • #76
  • Nov 22, 2024 1:06am Nov 22, 2024 1:06am
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I have marked the areas for possible by and short. I will think we are good for a bit of a correction, as for now this is the lower the price has ever been to the down trend line.

we will see if it builds up anything plus.
  • #77
  • Nov 22, 2024 1:12am Nov 22, 2024 1:12am
Quoting Tools
So right now, since we are right before some major news, its a bit risky to trade: But here are the level of questions that each time frame gives us: {image} 5m, we are too high in the channel to go for a buy, better chances to step in to a short when we break the down trend line. Stop around the orange marker. The H1 tells me in this quick draft, that the down trend has reached the orange marker of the previous up trend, which means it has fulfilled its destiny for sure, and it should retest the new down trend line. {image} As you see at this moment...
Little update,

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So the RED marker is hit, from here on it is pretty likely that that we will get some rebound, however it will likely to continue further down after. This is the daily chart, so we talk about weeks here.
  • #78
  • Nov 22, 2024 1:15am Nov 22, 2024 1:15am
Well,

This is Panic now:

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  • #79
  • Nov 22, 2024 1:50am Nov 22, 2024 1:50am
Quoting Tools
Well, This is Panic now: {image}
Bloody Friday
  • #80
  • Nov 22, 2024 2:52am Nov 22, 2024 2:52am
So technically we had the chance to buy, and aim for the trendline cross. But I really really hate 1 swing breaks. Like that huge red column is just no good. Most of the times these get just filled back, but they break a structure so badly.

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That uptrend line is pointing up so strong, it is likely to be broken, but these big red falls, usually bring a lower low, which after we can form a proper counter trend. We will see but I think we won't have much action here today.

If any one has any other pairs to evaluate feel free to post or ask.
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