There's a 100% chance that you made at least one typographical mistake in that poorly built sentence.
Possible, as I don't rule out any outcome, seen it all, hope for the best, prepare for the worst. However, I will be looking for a swing long signal around 1.23-1.24 that could give ample reward. Will do my best to try to catch it on smaller timeframes to lower my risk, albeit no 1 pip stops, don't know how to do those.
Time is up. Psychiatrist happy hour is over. It's $300 per 45 minutes from now on. Special price just for you.
No doubt! This a good thread. Thanks xspurt, ammo, red tank, etc., And hopefully a mod can step in here to remove the rambling, foul posts that have zero to do with the thread. And yes, let's keep it on ta.
Translation: It will go down unless it goes up. And since it gapped up he missed all of it because there were no 1-tic risk entries... The longer you listen the sweeter the pitch...
Here's an area I had marked on the bigger charts (yellow line). Going down to the 1 hour you can notice a support line coinciding with the area, this is confluence. Price reacts by plotting a bullish wick bar, some call it pin bars, others simply call it a hammer, either way, it's a snap reaction which is a good confirmation that you not the only one watching such area. You could even go to smaller timeframes and witness the snap like effect reaction developing, before the 1 hour hammer was completed, allowing you to enter using smaller risks, etc. You get the idea. PA works in every timeframe, no matter how small or how large you go. As of now the reaction obtained follow-thru, not surprising considering it's first-test nature. At the same time if you had been trading the downtrend you knew where to exit based on prior studies. And so it goes until the next high probability signal develops. Anyway, just sharing ideas on how to locate areas of high probability of reaction. this is very basic but it's a start to get others on the right track on obtaining killer exits and/or high probability counter trend signals.
re: Eur/USD Last support tested as resistance and back to the test the same area, although not without taking some stops first.