Strictly technical

This is just me and my charts...

Say what you want.

Some of the moving averages that I pay attention to are 20,50,100,200

not so much 50 and 100 as much as 20 and 200...

wow i was planning to open some thread like this,but now as u have already started no need for me to do any thing,thanx.

regards
Ali

Looking back at MA20 and its recent behavior, it looks like anything above it is a short.

Right now I'm going to attempt to short anything that's overbought on 5min.

Here are some important pivots to consider in near future (24-48hrs)

Will repost revised tomorrow...

All scalping and unsure trades I still take - just in the demo account. It's good practice.

Here is an example.

Since I'm still bearish on the whole thing I refuse to buy unless MA20 on daily gets broken.

So to my argument I will try to enter a counter trend trade using 5min chart.
Entry rule is in the 5min chart below.

Reason for long entry is daily chart that shows there could possibly be a long trade developing.

However, I'm still short from Friday and can't go long and short at the same time. So I will do riskier trades in my demo account.

Just remember, its easy to point out facts after they happen. But its harder to do it ahead of time and I still make plenty of mistakes.

Here is my entry

For a while I've been trying to figure out a way to pull up my stop to break even as soon as possible in these risky trades.

And I think I'm going to try one approach where I would pull up the stop +2 pips above my entry as soon as i get a 5min bar that's completely out of my entry price.

I'll try this next time.

I wonder how long would this last... As if you were to enter a long there, lets wait and see...

Ok, gotta get back to posting.

Clearly its a bear on M5. not to mention we are below 2 important levels, Daily Pivot and last week/day closing price.

Tried to make a few longs, but didn't get anywhere.

Here are some important trend lines I'm watching this week on daily.

Check out what looks like a clear buy signal bounce on that trendline! Nice...

In case anyone is wondering did I take that buy - no i didn't see it in time, sucks to be me...

As you all know major MAs on daily charts are important.

Reason for MA20 importancy is because it is also Bollinger bands middle line. So someone who is looking at MA20 and someone looking at Bollinger bands might have same interest at one point.

Here are some bits of where the action is at the moment.

I cant spell...

What looks to be an important level here @ 1.4014.

So far it's broken to the down side, confirming bearish bias.

The bar thats blue is current hour and it has not close yet.

I will be watching this one close to see if it closes above or below 1.4014.

This should generate a move... - ???

Apparently we are probing another level, this one caught me off guard...


I present to you... 1.4040

Nice doji here.

It will probably test MA20 on daily and break it maybe, its really pushing it.

If it breaks it, first support below MA20 - disregard for pivots - would be here, thats the post that shows the daily support trend line.

Pivots that might get on the way down to that support would be:

Daily S1 @ 1.3987
Weekly PP @ 1.4007

Don't forget that daily MA20 is in the middle of these two levels, and right now its going to be hard to breach them, i think...

Here is a close up of the epic/or not, break of this daily trendline shown on 1min chart...

In the mean time lets check where daily MA20 was...

Note it's around 1.3981 and none of H1 bars closed above.

2 H1 bars can't close above daily MA20 which happens to be right on 1.3981 which is also a daily pivot.

Two bars couldn't close above it, on third bar i could have looked for shorts, but I wasn't because it was already oversold from its run down Thursday...