Time to Short at touch Of Trend line : Easter Gift target = 50% retracement level at 1.40185....This is also the level at which 55 & 60Ma's converge
Comments
TomProTrader
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Well it could stop here, but there's absolutely no evidence so far that it will apart from a possible sideways resistance. I'm not saying you're wrong, i'm just saying theres no actual real indications from this level thus far.
IvanLabrie
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I think it will fall too. You can wait for a move under the low, but I'm relatively sure we've reached the top here based on my methodology.
TomProTrader
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You can think what you please. I am not saying this is incorrect. I am just saying, there is nothing on that chart apart from a line SUGGESTING that price will fall off this level.
I was simply stating it'd be better to post the idea nearer the time where the idea is tradable so it's easier for viewers.
TomProTrader
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By the way please note, the line was totally violated.
IvanLabrie
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Trendlines are completely subjective in the worst possible way...
My target was more modest, it was exceeded, and time expired for this move up. Daily chart target was reached, if you review my own charts you'll see what I mean. Expect a reversal if this candle closes like that and we move under its low.
TomProTrader
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Me, being in the institutional trading world, like to stick to one raw philosophy, and that, don't trade, or even THINK about trading any instrument until you see a PHYSICAL reversal in the form of the physical PRICE. No signal=No reversal at that level, and when this idea was published there was a line, and a strong green marabozu. And that's fact.
Again, I am not claiming to know the future price. It does, however concern me, that if a trader saw that idea hit the line, they would immediately short, ASSUMING price would ricochet off of that level and go down, but no. They'd have taken a loss.
This last hourly bar is a small range bar, probably closing on the lows. The trendline violation you speak of, might just be a stop run, a deformation of price coming from our good friends over at FXCM...
TomProTrader
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You are failing to see my point. I'll begin by saying I am not trying to argue or debate current price, predicted price, or future price. I am purely focussing on the idea I originally commented on. I will not view your charts, as I don't agree with piggy-backing.
I am looking at the original idea only. Where, the idea said SHORT AT THE TRENDLINE. WHICH would have RESULTED in a loss. BECAUSE there was no REVERSAL off these levels.
A novice trader may have shorted at a trendline touch, as that is what the original idea instructed. And the novice trader would have taken a loss using this idea.
I'm not sure why you keep trying to preach to me the future indicative trend, when I have stated several times, I don't claim to know, or even slightly know when price will reverse. I just worry for the traders of trading view who are novice, following ideas like this which aren't complete in substance.
TomProTrader
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Please note: I will not be replying to further comments, either.