My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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Disliked{quote} the advantage doesnt lie in their occurrence. Trading occurs. Price moves. Buys occur, sells occur. Nothing special. advantage is knowing where they occur.Ignored
Disliked{quote} Thanks. I am happy to note that you agree on the short side.of the kiwi dollar. The tp might vary which is fine. I am a bit busy today. Will post more around 8 hours from now.Ignored
Disliked{quote} Hi Colin, first thanks for sharing your thoughts. To me the market has not already shown its hand/downward bias, not before clearing the 0.715/0.717 area, but I know I can be (considered) too conservative. Below that level a drop will be likely for me too, but what I don't understand is your TP. The double top you're looking at has already been broken many times, why do you consider it still valid? As you said there's support @ 0.695/0.697 that's where the price got stopped twice after bouncing off the 0.725, don't you think that once the...Ignored
Disliked{quote} Thanks for your inputs to the thread. I have posted a weekly chart of NZDUSD again with my TP marked. Now, when you look at the weekly chart, you can see that the level has not been broken on the weekly as easily as it looks on the daily chart. In fact, there has been a clean break only once. Also, price is always attracted towards round numbers cos thats where the vanilla options and the buys/sells sit. So, it is natural for price to gravitate towards that.Ignored
Disliked{quote} Thanks for your answer. I think I get your point but in this case I have a different reading. I agree with you about round numbers but the PA around that level (last 2 weeks of April and first of May) makes me think it's not a valid support anymore, that's why I'd put my TP lower. Time will tell, anyway thanks it's always useful to compare opinions and chart readings. M.Ignored
Dislikedhere is another fun way to find SR regions. This also shows how amazing charting can be. and it can be fun too ! I have just taken a chart at random. not handpicked them. i have posted a EURTRY daily chart. Look at the bar marked A. You see that the bar is abnormally long. Find out such bars in a chart, mark their close and low and these would then act as excellent SR regions. I have marked the close of the bar A with a red line. You can see how beautifully it acts as a support and resistance region after that. amazing, isnt it? {image}Ignored
Disliked{quote} It is. Any possible explanation of why those bars are usually pretty good S/R zones?Ignored
DislikedAttached is the current EURUSD H1 chart. It shows a reverse umbrella (called as the cup) being formed currently. Such formations usually break to the upperside, sooner or later. {image}Ignored
Disliked{quote} Thank you for the explanation. On your attached picture, there was also a huge candle with the retracement after the close.Ignored
Disliked{quote} Certainly, although I'm not sure about their significance on lower TFs. {image}Ignored
Dislikedi believe that the big guys are beginning to show their hand on EURUSD. They are carrying NZDUSD with them. Lets see. This commercial section of FF is proving to be a bit too restrictive for me. I like feedback and i like to talk to other traders and share ideas and thats why i came in here. But i have been pushed into this commercial section (rightly so, i agree) where there isnt much interaction. hmmm.Ignored
Disliked{quote} Maybe you have to cancel the links to the other thread or ask the moderators how to get back to the non commercial section. According EU, it's actually the USD under a sell off. I hope EU will get to 1.16 (gone long @1.114), with a minimum target @ 1.14.Ignored
Disliked{quote} Maybe you have to cancel the links to the other thread or ask the moderators how to get back to the non commercial section. According EU, it's actually the USD under a sell off. I hope EU will get to 1.16 (gone long @1.114), with a minimum target @ 1.14.Ignored
Disliked{quote} well, i want to do FX mentoring. So thats what i offer. and i understand that it is commercial and hence all my threads have to stay in this section. But it sucks that i cant post anywhere else. Anyways, rules are rules and i accept that. Yes, as i had said before, the banks would not allow EU to go down, especially after Brexit and it was always supported below. And the move was telegraphed by the cup formation.Ignored
Disliked{quote} I'm sorry for you in this section you won't get so much interest. As for EU, yes that's the first natural target but it's too close to my entry so I think I'll go for the 1.16.Ignored