Waited for a good set-up with confirmation but the confirmation is below the expected set-up zone so the ideas are cancelled to wait for another better chance
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This is example of being patient for price showing reacting at the expected zone from your plan. Don't so eager to get into a trade if things are not what we planned on how price will react around the zone that you plan to fight at.
In this case price closed below important support that initially hinted us a sideways trading. So the right way is to abort the sideways plan and wait for another better set-up
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People can switch and wait together for EURUSD at this new setup
This is a tough one. There was a brief uptrend on the 1D from 15 Aug to 24 Sept. But one could argue that the LL on 9 Oct made that trend fail. And if so, we could expect to see the high on 16 Oct to be a LH, and so we expect the price to fall. Bottom line is I don’t know, but I am not confident of a rise at this time. Sorry to ramble. Best regards
Hang on a mo, three days ago you published a EURUSD chart, which is still active, showing a BUY with a target of 1.1725, now this with a different target?
DatTong
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@mustard, That was H4 chart, this is H1 chart, does it need to relate?
mustard
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@DatTong, You presumably still have the same BUY open on the H4 chart, so you now suggest adding another BUY. It's not a new idea at all.