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UPDATE #1: TRADE: EURUSD: SELL@1.12720 Trying to catch a wave 3

FX:EURUSD   Euro Fx/U.S. Dollar
1956 18 24
Just a quick update on this trade before I head to bed (it's 3 AM in China where I am and it's been a long day). There is also a possible Kiss Of Death pattern forming in this pair as well as in the GBPUSD             . These 2 pairs have some correlation so it isn't unusual. But anyway, just something else to be aware of in addition to my trade analysis.

Good night all and GL!
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MahdiTaouss
a year ago
Good Luck ;)
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muneergohar
a year ago
good night have sweet dreams...
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Eugene_Titov
a year ago
What is Kiss of Death pattern?
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EverythingForex PRO Eugene_Titov
a year ago
K.O.D. or "Kiss Of Death" pattern in it's most basic explanation is a pattern visualization of a triple top. What is requires is a S/R level that has been tested and held recently. what you will see if what I show above where (in the case of a bearish KOD) you have a small parabolic with a double top and then you see a larger parabola form off that first small parabola and that larger parabola's end point also hits that S/R level and that S/R level again rejects prices. Thus forming a triple top at that S/R level. Then you will have KOD pattern. As long as prices do not break that S/R level, then you may see prices decline off that KOD. Here's an illustration......
snapshot
+3 Reply
VictoriaRich EverythingForex
a year ago
Thank u so much
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PooyaSalehipour EverythingForex
a year ago
you have learning forex in classroom. thanx.
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VictoriaRich EverythingForex
a year ago
Price up now//maybe pull back ?
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VictoriaRich EverythingForex
a year ago
maybe it's inverted head shoulders head?
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EverythingForex PRO VictoriaRich
a year ago
you need to have the right shoulder before you can say it's an inverted H&S pattern. It can become one. Can only wait and see. But KOD patterns (MUST have the 2 parabolas) tend to point to a down trend. Of course, no pattern is 100% accurate.
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zachlwang
a year ago
Prince just completed a nice looking head-and-shoulder pattern. Go long friends.
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zachlwang zachlwang
a year ago
I meant to say on the 5 minutes chart.
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EverythingForex PRO zachlwang
a year ago
I don't trade or even look at the 5Min charts......
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zachlwang EverythingForex
a year ago
There is a thing called fractal. Stuff happening one the lower time frame may have implication on what's about to happen on the larger time frame.
I'm surprised you're still up. Time to go to bed my friend. All that pips is not worth your health.
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EverythingForex PRO zachlwang
a year ago
Oh, yes, I am a BIG BELIEVER in fractals! BUT I use them in reverse1 Not from lower TF to a larger TF. I use them from the larger TF to the lower TF. Why? Because higher TF's ALWAYS have more meaning than a lower TF. But I don't have a need to go any lower than 15M TF AND I never take trades lower than 1HR TF. I'm not a scalp trader and prefer longer time frames and BIGGER pips on trades.

I'm NOT saying there is anything wrong with trading and using lower TF's. It's just not my style and not in my trading plan. And yes, It's 3AM for me and just about time for me to rest! Thanks, my friend!
+1 Reply
zachlwang EverythingForex
a year ago
Good night.
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Fxtoronto
a year ago
snapshot

looks like an ab=cd completion at the demand below which would also break the trendline and i expect the price to go further south if that does happen
Best of luck and thanks for posting as always :)
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EverythingForex PRO Fxtoronto
a year ago
Your chart looks good to me. I would hope prices go like that. But I'd be careful about relying too much on the AB=CD patterns. They are there for sure but I never base a trade off of those. I use them as extra confirmation. That's all. But also GL to you as well!
+1 Reply
Fxtoronto EverythingForex
a year ago
thankyou and yes i am just trying to work on a system. Will definitely keep that in mind :)
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