Price formed a double bottom at demand on the H4, and has since seen a bullish momentum, breaking key highs to form a double top for the next bearish momentum. Price is still bearish on the higher timeframes. Using Elliot, we can approximate what stage of the correction that is unfolding. I would be watching for price to begin the bearish momentum at current price or from the 1.21 zone. Target is at the 161.8% expansion at 1.57
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From the last setup on the previous sell idea...
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I took some trades yesterday evening and early this morning (Asian session). I am expecting a small bullish correction before the sell.
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finally price has come into entry zone. As long as price doesnt break the HL, I would buy the break out to sell entry.
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Price broke the low. I would be selling. Alternatively, if price forms support at demand, that just means we would break the high.
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nice!
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We might get another entry.
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I am watching this 2nd entry carefully.
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🤩
Trade closed: target reached
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hmmm, just a quick one
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Price hit my BE.
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live.
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Previous trade was a loss. When price took out the previous high, I thought we might see a bullish momentum. However, this previous Asian session reaction to supply showed price was still bearish. I had to redo the analysis. I would be expecting something like this for LDN session.
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Yes!
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I am expecting a pullback.
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I am expecting another pullback.
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i closed my sell.
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I would be looking for buying opportunities for a correction:
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setup amended
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It's sad Price did not give the buy opportunity to sell zone. I would be watching for 15mins BOS to sell. 1st target is the break of the low, then I am expecting a pullback before the last sell of the week.
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I would be looking for a buy setup next.
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The key would be a 15min break of structure.
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If Price breaks the recent low, i would be looking for retest to sell.
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I would be looking for a retest for entry.
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nice.
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🤩
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I took partials at the top...would be watching for additional opportunities for entry.
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I would like to see a 1h retest of demand zone, and probably liquidity grab for confirmation of an entry.
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nice!
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GBPUSD; I am being very watchful with this one since its COB LDN session.
hello.. love your work.. your latest chart shows projection to 1.22
is that you in a long from 1.1967? or you waiting
SwingingPrime
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@fahimster, I am more a day trader lol. Cos of funded acc trading. Most of my trades end 5pm to 9pm UK time. There will always be another opportunity tomorrow. And yea, GU is looking bullish at the moment. Really kicking my bearish setup in the sand. Let's see how it reacts at 1.19
Pikacuu
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Damn , you re good :) your trades are always right
SwingingPrime
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@Pikacuu, I laughed when I read this...It's been a long 5yr road to get here. I would have done a 2nd PhD within that time lol...the amount of accounts blown...😁 thank you for the compliment.