DayFarrell
Long

REPOST: CURRENTLY LONG COMBINED ANALYSIS (BETTER CHART VIEW)

FX:EURUSD   Euro Fx/U.S. Dollar
I MUST START BY SAYING THIS IS AN ACTUAL TRADE IDEA, I'VE BEEN RESEARCHING A PREDICTING STRATEGY ON THIS PAIR SO LONG THAT I WAS BEGINNING TO SEE TUNNEL VISION AND OVERLOOKING THE OBVIOUS. AND WHAT IS THE OBVIOUS? THE BIG HEAD AND SHOULDER PATTERN THATS RIGHT INFRONT OF ME (AND YOU).SO THIS CHART IS ALSO A LITTLE LESSON THAT I PROMISE WILL INCREASE THE SUCCESS OF YOUR TRADES IF YOU FOLLOW THE METHODS CORRECTLY. I'M AWARE THAT MANY PROFESSIONAL TRADERS ARE ON THIS SITE, AND I TIP MY CAP TO YOU, BUT I'M ALSO AWARE THAT THERE ARE PERSONS NOT SO PROFESSIONAL,

- I START BY SAYING H&S (HEAD AND SHOULDER) PATTERNS ARE USUALLY REVERSAL PATTERNS SO KNOWING THIS SHOULD PREPARE YOU TO EXPECT A REVERSAL IN THE FUTURE.
- THERE ARE TOP AND BOTTOM H&S. THIS CURRENT H&S INTERESTINGLY IS A TOP H&S WHICH IS BASICALLY AT THE BOTTOM. NOW WHAT DOES THIS SAY TO ME? IT TELL ME THAT EVENTUALLY WE ARE GOING TO RETEST THE PREVIOUS LOW UPON COMPLETION OF THIS PATTERN, AND IN THIS CASE 1.2500.
- THIS H&S IS A BIT UNUSUAL BECAUSE IT HAS 2 LEFT SHOULDERS SO THE NATURAL THING TO DO IS TO LOOK FOR 2 RIGHT SHOULDERS BUT IN THIS CASE, I DON'T BELIEVE WE WILL GET THE 2, BUT THAT'S WHAT I SEE, CAN'T SAY WHY NOW.
- SO I WANNA KNOW WHEN TO TAKE MY TRADE, WHAT NEXT?
- THE CAVEMAN KNOW ITS HARDER TO BUILD AND EASIER TO TEAR DOWN, PRICE WILL FALL EASIER THAN THEY RISE. SO CURRENTLY WE ARE BUILDING A HOUSE AND WE ARE AT THE FOUNDATION (CURRENT PRICE). STEP DOWN TO THE 1HR TIME FRAME AND YOU WILL NOTICE A SMALL TRIANGLE WHICH IS A CONTINUATION PATTERN. THE TRIANGLE APPEARS TO BE BASED ON THE BEAR MOVE AND NOT THE LARGER BULL MOVE, SO WE ARE LOOKING FOR A SHORT BEAR MOVE (NOTED BY THE BLUE RECTANGLE AT THE BOTTOM, SOMEWHERE WITHIN THIS RANGE). I'VE CHOSEN THE LOWER END OF THE RANGE BECAUSE IT'S BETTER I MISSED THE ENTRY, THAN ENTER TOO EARLY AND GET STOPPED OUT.
- THE SECOND BLUE RECTANGLE AT THE TOP IS MY TARGET RANGE, I'VE PLACED MY STOPS AT THE LOWER OF THE RANGE BECAUSE N.B.! IN A H&S, EVERY PEAK IS A CHANGE IN PSYCHOLOGICAL RATIO, IN OTHER WORDS, PERSONS ARE CHANGING FROM BULLISH TO BEARISH AT EVERY PEAK. THIS CAN BE DETERMINE BY A STRENGTH TEST, VERY EASY TO DO, THEREFORE I'M NOT GOING TO BE GREEDY AND LOOK FOR A GREATER TARGET BECAUSE OF THIS SHIFTING.
MY TARGET IS BASED OF FIB RATIO CONVERGING, AS YOU WILL CLEARLY SEE ON THE CHART.
THE LAST LESSON THAT WILL CHANGE YOUR TRADING AS PROMISED: GEN 3 (GO READ IT FOR REF) THE SERPENT AND ADAM & EVE WERE TRADING, AND HE DID WHAT MOST LARGE FUNDED TRADING CORPS DO, HE SOLD THEM NOTHING FOR THE PRICE OF SOMETHING. THEY, LIKE EVERY HUMAN BEING EXPRESSED GREED AND ENDED UP WITH FEAR, WHEN THEY THOUGHT THEY WERE GETTING MORE GOOD. SO DEEP DOWN WITHIN US, WE KNOW THAT FEAR ALWAYS FOLLOW GREED, AND FEAR WILL BECOME NEUTRAL EVENTUALLY. THEN GREED BEGINS AGAIN. AND THE TREND GOES ON.
LABELLED AS SECTION G, FIRST NEUTRAL, THEN GREED, THEN FEAR WHICH WILL BECOME THE NEW NEUTRAL. YOU WILL FIND THIS PATTERN ON EVERY CHART. FEAR INCREASES AFTER VERY LARGE MOVES THAT HAS NO VALID REASON. SO ANY MAJOR MOVE YOU SEE WITHOUT A FUNDAMENTAL CATALYST, EXPECT A REVERSAL. IT'S TRICKY AT FIRST TO GRASP, BUT ONCE YOU BEGIN TO PRACTICE, YOU WILL FIND IT'S VERY EASY TO FOLLOW AND ALSO REWARDING.
WHEN GREED IS BULLISH FEAR IS ALSO BULLISH , SO YOU MUST MEASURE THEM INDIVIDUALLY BEAR AND BULL . CURRENTLY WE HAVE A SLIGHTLY BEARISH DOJI WHICH I VIEW AS A BALANCE BETWEEN F&G. SO THE CYCLE BEGINS WITH A SMALL BULL CANDLE WHICH HAD BEAR PRESSURE TO 40% OF THAT CANDLE. SO I'M EXPECTING A LARGE BULLISH GREED CANDLE TO TARGET WHICH IS FOLLOWED BY A LARGE BEARISH GREED CANDLE SINCE BOTH IS ALMOST EQUAL. I EXPECT THE BEARISH TO BE LARGER BECAUSE OF THE BEARISH EXPECTATION THAT FOLLOWS A TOP H&S PATTERN.
THINK I'M OUT OF WORDS SO LETS SEE HOW IT PLAYS OUT.
JimFred PRO
2 years ago
So to be clear, you will go long tomorrow morning? This a daily chart, so I presume you intend to take a multi day trade to ~ 1275?
We will see... I tend to think a short trade the next few days is called for in that pair - but of course, I may be wrong. Happy trading!

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DayFarrell JimFred
2 years ago
this chart was not based on time, just target, so the candle stick method i did not take into consideration. but as you mentioned, we can do all the analysis in the world and still be wrong, so no trade is a certainty for me. i do see short for this pair also, but i think we will get a long before.
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