Synopsis: What you can see here from my side are Price Action setups alone. No indicators, just support and resistance, the way I see it. There may be other ways to look at it, nothing wrong about it, what I use is my technique of reducing complexity. What to expect from this thread: - Price Actions setups from a trader acutally not making money trading - some offered trades were taken, some are paper trades - which will be highlited - an open minded discussion in a encouraging, yet open worded atmosphere What not to expect from this thread: - holy grail; unfortunately not available any more - uncontributive aspects and discussions
I like to share my insights before a potential trade and only break this rule one time, to getting things started: (01.03.2021)
PL short (traded) Setup: The previous bar (26.02.) was a very clear downside bar and the following bar (today, 01.03.) was a inverted hammer. A try of bulls to gain back control which failed. The momentum increased, as the way up and down all happened in one day. The Weekly showed that the bar 26.02. clearly respected the previous spike of the former upward movement. The downward momentum should be enough to reach the previous monthly high (resistance) Market: 1192 Target: 1163 - prev monthly high SL: 1240 - save place are above the latest downside bar
HG short Setup: The prev. weekly bar was an inverted hammer and the bar today (01.03.) also is one. Someone really is trying to push the bulls down. That accelerated momentum should lead to a downside pressure that allows to aim for the round number. Market: 4.112 Target: 4.000 SL: 4.375
ZW long Setup: respected the round number on the way down and came to halt in a zone, were an up gap previously formed. This should be enough upside pressure to reach for former weekly low - adjusted by the round number Market: 650,2 (market closed) Target: 655 SL: 640 - safe place below the weekly low