This is my reason why i did not take any trades this week i did not take any trades because i see a lot of uncertainty in the market for my self, i think it is best to wait for the right time and get clear direction in term of setup structure and also trend. i will continue to be a spectator and watch than jump in and lose what i don't want to lose. this here...
This is just an idea not a signal. I'm journaling my thoughts to improve my consistency. This is just an idea not a signal. I'm journaling my thoughts to improve my consistency.
jornal nasdaq 17 may 2023 jornal nasdaq 17 may 2023 jornal nasdaq 17 may 2023
i want to see the price take out the BSL then close below or inside that will then be my confirmation to short . if that does not happen then i will wait for more confirmation. i see more reasons for the price to be bearish and to rally down to take out the SSL at least, this is my personal bias and also note his is not a signal.
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This zone @11756.8 could be either supply or might be a demand, still I think if we break to the downside we might catch some pips before we continue bullish.
USTECH 100CFD If we drop from 11568.9 I would expect the price to drop to or close to 10785.8 and that would be my expected TP the SL for this entry would be @ 11626.7. The rest of what I think about the trade is on the chart.
I believe that the swap zone will be reacted to on the third swing so the sellers could maybe add more trades to the down side just above the swap area, my short entry reason is because this is the second touch on the zone from the first high that i marked and the price might fall to the zone on the lower side where it sprung from the zone(demand) SL 12227.8 EN...
We currently have a potential butterfly pattern if we reject the 1.27 zone then I will take it as correct. also I see a potential head and shoulder pattern that might go all the way up to 4752.8 then drop , if the drop happens then that will be confirming the same move that happened when the corona broke out in 2020. that is during the Chinese new year/ Chinese...
I see three reasons for me to take this trade as a buy. 1. If the price bounces from the ranges 1820.148/ to1818.468 and turn bullish , then this will be giving us the 4th to 5th elliot wave impulse. 2. 0-1 leg is equal to wave 4 - 5 . if this is true then wav 5 is going to be at 1.13 of wave 2-3 fib level. 3. If this is true then price will drop to wave 1 highs...
if we sell the c leg we might bag a lot of profit we can see that the pair is setting up well and might be giving us a bearish 2022. just to finish the large cup and handle that formed over the years . there are two possible harmonic patterns the larger one and the smaller one the smaller one is the possible bullish butterfly that is on the chart above and if we...
we had a failed Gartley so now we are left with one pattern that also has a 0.618 that is a crab pattern that needs to go to the 1.618 of the XA leg and the 2.618 of the BA leg and the 3.618 of the BC leg. IF this happens, it might be wave 3 then we might see the market retrace giving us wave 3 to 4. according to the structure I'm expecting. i hope wave 4 rejects...
We broke the bullish expanding triangle with the butterfly pattern that ended at the 1.618 level which was perfect then retraced to the 0.50 level which went up like a rocket to the 0.382 level. now IF this level is true and the rejection is true we Might see a bat pattern formation that will go all the way to the lower channel trendline and bounce off the 0.886...