Powerful reaction to confluence weekly .707 Ret + Daily 1.618 Extension.

EURUSD

Area for short much closer!

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Thanks.

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Gold

EURUSD

May be. We are at 1.618 Ext Daily and .707 Ret weekly, I guess it depends whether or not we get a reaction from here. What's your input? Cheers

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Gold 1.618 extension reached. Some bounce might follow.

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Waiting for price to come to my zone to short it again.

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AUDUSD Not a bad place to add more shorts. Reason: Daily 61.8 Ret +Monthly pivot and bouncing off Weekly R1. The daily candle is not finished yet so we don't know whether retracement is finished but even if we go up to .786 Ret again it's still ...

EURUSD

Yes please.

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It could be 3 Months... What matters is the time frame where you enter the trade. Everything else is money management and discipline. Like any rule, it only works if you stick to it, NO MATTER WHAT. I can recommend good material for you to read. ...

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I have a similar method. The stops should be placed few pips below the pattern. If you are stopped out, I guess you have to wait for another setup or realize whether that one was a genuine move or just a wash and rinse.

EURUSD

You can apply the 3 period rule. If by the third close of candlestick in the respective time frame (where you entered the trade) you still not in profit and assuming you not using other type of Stop loss, you just close it manually.

EURUSD

GBPUSD ABCD pattern in progress on Daily chart. This swing can be used by scalpers and I expect 1.6788 region to hold price if retracement continues. Then I will short for more downside. Otherwise just follow to first target of this trade. GL

EURUSD

First target achieved, bounce could follow. I am not taking long positions.

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GBPUSD First target almost reached! Read above for details.

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EURUSD Technical: This is just an idea how this pair could be traded in the near future in case we don't see any meaningful retracement. I posted this chart before but want to add a few details. Price broke through double top's neckline on daily ...

EURUSD

GBPUSD I expect this pair to reach 1.6667, 1.27 Fib Extension initially as target of ABCD on Daily chart, as part of butterfly sell posted before. This target area is confluence with Oversold on Daily chart also. For the ones who are not in yet, you ...

EURUSD

80% of the moves take part in 20% of the time, that's how I got used to this type of PA

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I actually agree with you when you put it in those terms, I just meant it as a general advice, if you have enough time to look for all those high probability setups then it's fine, but you know it's not the majority of the practices we see everyday! ...

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Very important part of any strategy! No overtrading!

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