The 127% or 162% fib is my resistance for tonite b4 a pullback down south of the border
1.5625 is the ideal resistance
1.5625 is the ideal resistance
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DislikedI suspect that if we do not reach the 1.5625 Level in the next 3 hours,,, during the first hours of the London open,,, then the next stop should be at the 162% fib level 1.5690 - 15697
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DislikedI suspect that if we do not reach the 1.5625 Level in the next 3 hours,,, during the first hours of the London open,,, then the next stop should be at the 162% fib level 1.5690 - 15697
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DislikedThe 127% or 162% fib is my resistance for tonite b4 a pullback down south of the border
1.5625 is the ideal resistanceIgnored
Dislikedhi there. could you roughly explain why you foresee a 1.5690 - 1.5697 stop when you mentioned that if we do not reach 1.5625 then it would edge higher ? Also, London open is like only 30 mins away.Ignored
DislikedDon't quite know what you mean by "ideal" resistance, but any resistance that price firmly respects on higher TF's several times works for me, especially when it's much closer to current price action and daily pivot points.
Currently scalping a small short from M3 w/ pips locked in as I think this is typical frankie/london head fake stuff.
If price was to get there at all thru everything in it's way, your 5625 level would look more like a bullish breakout to me, rather than a reason to pull back to lower levels. Just my 2 pips tho.Ignored
DislikedSorry I would like to clarify what you are doing. You are from from the m3 level? How long do you expect the pair to go before it goes back up again? Is it a bit risky?Ignored
DislikedDon't quite know what you mean by "ideal" resistance, but any resistance that price firmly respects on higher TF's several times works for me, especially when it's much closer to current price action and daily pivot points.
Currently scalping a small short from M3 w/ pips locked in as I think this is typical frankie/london head fake stuff.
If price was to get there at all thru everything in it's way, your 5625 level would look more like a bullish breakout to me, rather than a reason to pull back to lower levels. Just my 2 pips tho.Ignored
DislikedI meant that if price does not reach 1.5625 in the next few hours after the London open, then, I suspect it is taking some breath to go as hight as up to 1.5690 - 1.5697 ..Ignored
DislikedHi there,,, In my experience I've notice that after a run like the one we had yesterday,, price going from 1.5364 to 1.5570 -- a 206 pips move ,, price would consolidate and MACD will point down,, at the london open, price would need go to the 127% fib but only to see it come down,, but,, if price consolidate for too long.. 5 or 6 hours,, then it means the bulls are in charge and so i see price reaching the 162% fib or even the 200%,, but very rare..
The 2 charts i posted are from John todd Gordon and Gregor Horvat respectively, they both have a bullish bais towards the euro..Ignored
Dislikedshort scalp from M3 w/ target just above the daily area 5500ish with a trailing stop. Since it's gone 30 pips so far, I'm quite happy. I lock in a minimum number of pips, forget about it and let it run. It makes the target or I get stopped out somewhere in the green.
PS once pips are locked in, where's the risk?Ignored
DislikedDon't quite know what you mean by "ideal" resistance, but any resistance that price firmly respects on higher TF's several times works for me, especially when it's much closer to current price action and daily pivot points.
Currently scalping a small short from M3 w/ pips locked in as I think this is typical frankie/london head fake stuff.
If price was to get there at all thru everything in it's way, your 5625 level would look more like a bullish breakout to me, rather than a reason to pull back to lower levels. Just my 2 pips tho.Ignored
DislikedNow I'm still thinking if I should add on lots. Trying to work out a better r/r ratio here.Ignored