FX:EURUSD   Euro / U.S. Dollar
On FX:EURUSD             , the market moves sideways on 1H bars., It is getting close to structure high, which is a reversal zone
1. there is a resistance zone at 1.1146. The price respected those level many times and it is more likely that it will do again. The majority of institutional trades are placed at key levels and sell orders should be there.
2. Trendline , which act as a dynamic resistance.
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Comment: Wait Monday Open to avoid any unpredictable spikes
Comment: locked the profit, the price at support level and do not expect its breakout atm
It's just so amazing to me how you make it look so simple! My charts look so messy and all over the place.
Brilliant analysis....much better than all stalwarts here who end up confusing themselves and other traders.
U are genius
it will be good if price drops down,,,,
It is interesting to imagine what might've happened when the price was making lower lows and lower highs and taking out support pivots to the swing on the left. I could see drawing a support line from the left side of the chart keeping in mind that the market probably washed out some buyers and took on some breakout sellers, producing a double bottom with some pretty good buying tails. I'm wondering if they took no survivors: buyers or sellers. I would wonder, never having had institutional experience, if there was some institutional buying producing the double bottom and the breakout failure at the bottom. From a trading perspective, there probably is not very much risk capital with a short entry at this level except that there may be a lot of sellers heading for the hills, becoming buyers if the market gaps 20 or 30 pips higher at the open or moves higher soon after the open, and this might end up with even more buying. If I wanted to be a buyer, I don't think I could enter the market here because there's too much risk if I were to use the double bottom as my stop. With regard to your comment on institutional trades, I would think that institutions are on both sides of the market, and I would accept your are orange line as a level of institutional resistance, but would wonder if the double bottom and a line that you control at that level would represent institutional support. The dilemma: support and resistance in a fairly narrow range of swing behavior and bar behavior that doesn't display obvious trend behavior with conviction in either direction. My bias, and my main concern would be a final wash of some pivots, and a rinse as they move the market higher. So I don't think the short has to have tremendous risk of capital because of nearby structure, but I'm wondering if the percentages would justify a short trade here because of the dynamics. I enjoyed your post, thanks for posting.
Art_of_Trading ScottBogatin
thanks for sharing your analysis
perfect..... Martin armstrong thinks this will crash into march : )
jennifer but you consider the double floor that developed on Friday that indicates turnaround
jennifer but you consider the double floor that developed on Friday that indicates turnaround
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