Orange lines - daily wave, classic ABC continuation Green/Red lines - h1 exhaustion trading levels for the daily C point Magenta lines - m15 exhaustion trading levels for low time-frame reactions
Our h1 expected turning point is 0.7470. We've kept on the chart the arrow for our continuation play that failed - just a reminder there's no 100% in trading. If you follow us in the forex chat room here, we just took the m1 long reaction from 0.7501 to 0.7514 partial tp - that is not however the big one we're after. We expect h1 signals to form after the 0.7470 test sometime in the next 24 hours. Our expected movement is to 0.7750 with target area 2 at 0.7900.
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m15 selling pressure
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management point short side
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profit point short side m15 extreme candle "blind" long continuation position
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profit point 2 short side "blind" long continuation position 2
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"blind" short continuation position 1 profit point for long continuation positions
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management short continuation - not a lot of movement but enough for m1 to validate the down reaction
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7573 short intermediate tp zone :)
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m15 extreme candle close short continuation position 1
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m15 movement complete and into a short reaction only a small fraction of larger tf long positions should be kept here
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m15 short reaction validated into a risk free-trade this 30 pip movement is not enough for tp given the RR requirements short tp area starts around 7600
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m15 short tp1 and potential long continuation (7595)
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risk management and partial tp long continuation
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Tight trailer (7655) into a double top extension (7672)
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Continuation play done :) There was an 8 pip loss yesterday on the 1st m1 attempt at this continuation
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short side tp reduced size, "blind" continuation pos (7635)