the bears are back

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reject in M3 off the larger triangle line (breakpoint) reject in M5, engulfing immediate support 1.1600.... i do hope it breaks, so i can sell off to 1.1500

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selling EU from 1.1615, SL 1.1638, TP open

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image

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fund manager earns purely on commission (deposit of you), so in case of profit (he gets some % portion too), but in case of loss, he lose nothing so either way, he makes money steadily indeed, i plan for some scalp here, EU seem like might retest ...

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the fact is, u make two obvious mistakes first, why do u buy in between the triangle? since u have clearly drawn the triangle line, why not wait for price to reach there (and also wait for price action to react before u decide to buy or not) ...

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also...price is below 200EMA across larger timeframes (H4/D1/W1) interestingly, tuesday’s high @ 1.1746 is a rejection of 200EMA of the weekly timeframe, so general picture remains tilted to downside play

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back to the first assumed scenario : for a test around fresh supply 1.1650 image bigger picture view (H2) bounce from lower triangle trendline interestingly, current day ATR stands at 72 pips (today's range 1.1667-1.1601= roughly 70 pips) so ...

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closing out back to the first assumed scenario : for a test around fresh supply 1.1650

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setup before US employment report 1.1630 (london opening) 1.1601 (current’s low) update: i close out @ BE waiting for the current H4 candle to form

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if 1.16304 london open level holds, the rejection on M15 candle with high volume should break 1.1600 later in the NY session there is no more bull evidence after this lonely h1 bull candle bar is taken out, then bears are in control for the rest of ...

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im taking a 17 pips risk here selling from 1.1614 sl 1.1631 try for targets 1.1590 & 1.1585 imagine where the buyer’s stops might be located? below 1.1600, so i believe a fake out & stop hunt is imminent

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sudden m15 high volume & mass selling candle rejected at 1.1630 london open level... could be a breakdown of 1.1600 later? edit: first tp seem to be at 1.1590-1.1585 i believe we wont see a real breakdown today, just stop hunt below 1.1600 and back ...

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image image not so fast, Moty it MIGHT not even come close to 1.1700

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yes bro... i have experienced a lot of this scenario where price is not giving retracement for entry but if u wait patiently enough u might get the last ticket for a ride... many times i missed those entries, keep in mind, take what market gives ...

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any support can be broken be it a monthly pivot / support or weekly pivot / support, and dont forget too we are in 1.5 month triangle, and when that is broken price would drop like a speeding falling knife and it would be the moment where buyers are ...

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a breakdown is imminent price action is doing well ahead of tomorrow NFP, usually we would see the pattern here almost every time we approach big event like NFP the last chance for bear positioning would be 1.1645-1.1650 area for a retracement test, ...

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finally there is one thread i would agree with you, Moty same analysis here, just that as a trader, i am always worry for a possible U-turn by bulls out of nothing (even though the technical is clearly bearish) especially through some big impact ...

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big news? more like no news... FED is expect to hold onto current interest rate & maintain another rate hike odds in September, so today’s FED is most likely a non event though as usual FED event should provide some volatility to re-enter sell (sell ...

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coincidentally, we are back to where we started 3 years ago below August 2015 high @ 1.1714

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