Pretty unlikely at this point that a trade sets up for me today. I'll check back in about 1hr. Price is still deciding what to do with the 4hr chart. It's not relevant to what I am looking for but depending on this close on the 4hr it could lead to some real speed to come. It's a sh*t or get off the pot level that likely has a lot of traders nervous while others are trying to grab a top. It can get violent in these places. None the less, it doesn't matter to me. It's just an observation and I won't be doing anything with that information. I don't really know or care who is waiting to hit the button or why. It's just my mind filling in something to make it feel better from years of screen time. I am speaking out loud to reiterate that the observation will no longer be important to me and that my justification or reasoning is just as much possibly right as it is wrong. I really should just not do it at all but I have completely resolved my mind to that just yet. Working on it.
Nothing setting up this morning. I will check back in around 9AM. A good bit of compression across TFs. It needs to clear up a bit.
You're trading EURUSD? If so, which TFs? I'm reading some possible weakness to the downside with accumulation taking place, I believe it's going up soon (obviously I might be wrong). Support could hold at 1,1105 (very high accumulated horizontal activity.
Thanks. I have traded a lot of markets. For the sake of this, yes EURUSD. I am trying to leave my TA prediction stuff behind me. It's hard because I have so much screen time so my mind starts to draw conclusions. I have set rules in place handle it when it creeps up. I look at whatever TF is clearest usually under the 4hr. Then I am trading 5min or less. What I can say I see with PA is that the 4hr upward flow of PA is in jeopardy right here. I would venture to say it either gets real quick with a headfake down before back up or it actually commits. I think we will see some price violence inbound. Again - This is not activity I am banking on or care about. I am prepared when MY table is ready and know how to handle the possibilities based on my own actions.
I don’t know. I’ve only taken 1 trade under it. Dozu makes good money so that bar is high. . Doesn’t really matter though.