What happens next?
what happens next? Price action training
- #102
- Jan 3, 2017 5:54am Jan 3, 2017 5:54am
{quote} Chart's a bit scrunched up but from what I can see, these are the levels my side. I would allow price to test them then trade it accordingly. {image}
the 3rd wave is the crowd's wave
- #103
- Jan 3, 2017 6:01am Jan 3, 2017 6:01am
- Joined May 2012 | Status: ... | 1,925 Posts
{quote} Yeah sorry, next time I'll post a HTF view, of the same area, to see the candles better and then the zoomed out view, lower time frame but still same area but with more details. {image}
Based on this chart, unless something like this occurred, I'd probably sit out any shorts and wait instead to see how price reacts at that lower SR.
Edit: Apologies, I should stick to my own very specific naming conventions and refer to that lower SR as what I actually view it as, which is a "Breakout Reference Line" (I distinguish these from traditional SR but only because I can be a bit pedantic
)
- #105
- Jan 3, 2017 6:06am Jan 3, 2017 6:06am
- Joined May 2012 | Status: ... | 1,925 Posts
{quote} Hehe now I need more detail (zoomed out view with LTF data), but fortunately I recognize that pair {image}
Yep, this is how I currently see it. It's EURUSD H1.
Hi juriFX,
I'm thinking the longer term flow is up. Now expecting a possible equal distance retrace to a structure. However if down momentum breaks, I will consider to go long.
Thanks
I'm thinking the longer term flow is up. Now expecting a possible equal distance retrace to a structure. However if down momentum breaks, I will consider to go long.
Thanks
{quote} Yeah sorry, next time I'll post a HTF view, of the same area, to see the candles better and then the zoomed out view, lower time frame but still same area but with more details. {image}
"The markets can remain irrational longer than you can remain solv
- #107
- Jan 3, 2017 7:27am Jan 3, 2017 7:27am
- Joined May 2012 | Status: ... | 1,925 Posts
What happens next?
- #109
- Jan 3, 2017 8:05am Jan 3, 2017 8:05am
- Joined May 2012 | Status: ... | 1,925 Posts
Hi simond2002, I'm thinking the up momentum corrective, will consider short when break. Thanks {image} {quote}
Slightly different view my side. Going with the direction of today's momentum, I'd look for buying opportunities at the two demand levels (first target would be the origin of that liquid move down (on the left)).
Top of the flag (supply) was tested on the way down and although price has obviously retested it recently, for me, at least on this TF, the level wasn't "fresh". Obviously if the two demand levels get broken, I'd look to sell with you at fresh supply.
This is AUDUSD M5
- #111
- Jan 3, 2017 10:16am Jan 3, 2017 10:16am
- Joined May 2012 | Status: ... | 1,925 Posts
This is AUDUSD M5
The lower demand gave a circa 5R trade on touch (if that is your thing). Personally I only ever touch-trade in very specific circumstances, and this was not one of them.
Another entry could've been taken after bullish PA printed off of that level. This is not marked because these entries are very specific to the way I trade but was in fact the entry I was looking for. However, by the time the PA printed, price had already moved away quite considerably from the level and I wasn't that interested to take it.
There's been a further touch-trade on the lowest demand level but I hadn't been keen to mark this up originally because that level sits on support as opposed to demand and for me there's a subtle but important difference between the two, which essentially boils down to "freshness".
- #113
- Jan 3, 2017 2:11pm Jan 3, 2017 2:11pm
What happens next? {image} My view on it (realtime chart) {image}
Those who expected lower prices, well done
the 3rd wave is the crowd's wave
- #114
- Jan 3, 2017 3:39pm Jan 3, 2017 3:39pm
- Joined May 2012 | Status: ... | 1,925 Posts
Anyone see anything here ? {image}
- #119
- Jan 4, 2017 3:18am Jan 4, 2017 3:18am
- Joined May 2012 | Status: ... | 1,925 Posts
What happens next?
