This just simply looks too good for Buying.
Nice turning points for price, good number as well.
Nice turning points for price, good number as well.
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Dislikedlooking at the chart i see that this green line ( S/R) holds historic significance of how low this pair went in the past.
Also the this level coincides with with retracement at 38.2.
Let see see how this sell off goes, SL 20 pips and TP around 45-50.Ignored
DislikedMeh, i guess i need to work more to identify levels and possible reactions at these lines.
Blowing demo account slowly :-(Ignored
DislikedDev, for what it's worth, the sloshing of 1.2145 level on h1 and h4 is a sign that S/R there had been substantially weakened. Prior gap looked alluring for placement of level, but recent price action is most telling.Ignored
DislikedIs the original poster still around and posting, or is it a dead journal?Ignored
DislikedDev, for what it's worth, the sloshing of 1.2145 level on h1 and h4 is a sign that S/R there had been substantially weakened. Prior gap looked alluring for placement of level, but recent price action is most telling.Ignored
DislikedEven though now looks like EURUSD 1.2239-1.2225 is serving as support, probably shouldn't be trusted. Past PA on H4 shows that area being abused and busted several times. Current PA on H1 and M30 is mushy and consolidating. Looks like downward continuation pattern on M30 (ascending triangle in downtrend). I will place limit short at 1.2225 on H1 if price breaks down through that level.Ignored
DislikedDev, the level at which you've sold is murky i.e. price action is "gooey" rather than "sharp" in that area. There's nothing screaming buy or sell. Actually, if you look at that short term trend line you drew, you'll notice that the price was piling up beneath it, essentially pressurizing that resistance. It looks ready to pop north based on your chart.Ignored
DislikedDev, the level at which you've sold is murky i.e. price action is "gooey" rather than "sharp" in that area. There's nothing screaming buy or sell. Actually, if you look at that short term trend line you drew, you'll notice that the price was piling up beneath it, essentially pressurizing that resistance. It looks ready to pop north based on your chart.Ignored
DislikedBtw look at my green sell line , pretty much a solid resistance line ?Ignored
DislikedGood day all,
Is this thread still active?
I am a scalper using s/r levels. Pretty much the same method as this one.
I hope I can contribute to this thread.
Happy trading.
PCIgnored
DislikedHi Trader. It's sort of active. Whatever the case, s/r levels/ lines are arguably the simplest and most consistently helpful technical tools around. I wonder if BRV ever peeps in on this thread anymore. It's quite a little legacy.Ignored