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Cable Fractal Map. Trade Explanation

Daytrader21 Przesłąno 25 Cze  w #Trader's blog #GBP/USD #Cable #Fibonacci Retracement #Seasonality #Momentum #Fractal
In today's blog post I want to take the time and talk about my recent trade which was long GBP/USD. This trade was based on a market model or you can call it a fractal pattern (see Figure 1) that cable has been following since the start of the sell off from 2014 highs. Now, even though I got out of this trade relative fast the upside momentum should prevail if we take in consideration the seasonality cycles of GBP/USD which has the tendencies to strengthen during the summer time period and post …
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EUR/USD +100 Pips Profit. Trade Explanation

Daytrader21 Przesłąno 10 Cze  w #Trader's blog #EUR/USD #Fibonacci Retracement #Asian Session #London Open
In today's blog post I'll talk about my trades from yesterday. I've been trading on the short side of EUR/USD and actually I was able to take 2 trades making a cumulative profits in excess of +100 pips. My first trade was right at the London Open (see Figure 1) which is the ideal time to enter your trades because form my own experience the low/high of the day is made during that time of the day, there is a probability of 65% of that to happen.
Again, fading the London Open is one of my best …
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2 Komentarze
Lefy avatar
Lefy 10 Cze

Hi, There why you don't talk about trades you are planning to take, are you afraid we are going to steal your profits....., please history is history, talk about the future, its what we want to hear.....

Daytrader21 avatar
Daytrader21 10 Cze

Lefy It's much more easy to talk about trades after the fact and also it's more practical because many of this trades you only see them as they happen and I'm not even sure if I take them or not. Trust me i'm not the one from whom to steal:)) look at my overall performance it looks quite awful:)...there are better traders here than me.

Airmike avatar
Airmike 10 Cze

nice trade , but very risky setup against trend on both entries.

Daytrader21 avatar
Daytrader21 10 Cze

Airmike Even though we're in a secondary bullish wave, the primary wave is still bearish. Both of the trades worked well because my timing was spot on, otherwise I could have been in trouble.

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CHF/SGD Summer Consolidation

Daytrader21 Przesłano 31 Maj jako Analiza CHF/SGD, Cel: 1.4582, Data: 1 z Lipiec, 12:00 GMT  w #Technical analysis #Consolidation #Fibonacci Retracement #Psychological Number #CHF/SGD #Chfsgd
We can see that for the most part cross pairs like CHF/SGD have the tendencies to move in consolidation box, which i call range box effect. Right now we're moving inside one of those range zone between 1.4000 round number and psychological number which is also the bottom of the current box and 1.4600 resistance and top of the box.
Major Levels to watch:
  • 1.4000 Big round number and psychological number and also support level.
…
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Daytrader21 5 Cze

Update 1: We came very close to trigger the stops above the 1.4500 big round number, but we where not able to move above it and instead we now have a multiple touch of that level. Support for next week stands at 1.4250 and resistance at 1.4500

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Daytrader21 14 Cze

Update 2: As per Figure 1 we did tried to break above previous minor swing high at 1.4640 but couldn't make it above it so instead we make a double top.I still think there is a need for a break of that level, however we should still remain in consolidation with key support being 1.4100

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Daytrader21 19 Cze

Update 3: Nothing much happened since my last update we have continued to move inside a very narrow range between 1.4600 resistance level and 1.4350 support level. For next week we should expect the market to be trading inside this two limits.

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Daytrader21 26 Cze

Update 4: Right now we have retested the support level of current range box and we already saw a bounce. The 1.4400 level is the middle of the box and we should see price either going up to retest the resistance level at 1.4600 which is the highest probability.

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Daytrader21 29 Cze

Update 5: As expected the momentum pushed higher and we broke through intermediate resistance level at 1.4450 and also we're about to have a daily close above the big round number 1.4500 which will suggest further upside to be seen in the next 24 hours.

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EUR/NZD WXY Pattern

Daytrader21 Przesłano 15 Maj jako Analiza EUR/NZD, Cel: 1.5682, Data: 1 z Lipiec, 12:00 GMT  w #Technical analysis #Pivot Point #Elliott Wave #Fibonacci Retracement #EUR/NZD #Wxy Pattern
Based on Elliott Wave analysis EUR/NZD is playing inside a very complex price structure and corrective in nature. Since 2014 top at around 1.6400 we have been moving inside an WXY pattern which can be subdivided in lower degree WXY patterns. Right now we're in the last stage of completing the pattern as we're currently developing wave Y of higher degree and wave y of Y before the cycle to be completed. Before the last leg up we need a retracement towards at least 38.2 Fibonacci …
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4 Komentarze
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Daytrader21 16 Maj

Update 1: EUR/NZD has made a new intraday marginal high above 1.5300 however the market is not ready for prime time, we should see that pull-back towards the 38.2 fib retracement before to make the new up leg

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Daytrader21 22 Maj

Update 2: Right now we have made the temporary top and the market is looking for retracement towards the 38.2 fib level around the 1.4800 level which is also a pivot point. Next week we should be looking for further downside move as per my prediction

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Daytrader21 29 Maj

Update 3: This Friday we finally managed to break above previous minor swing high at around the 1.5400 level. If we manage to get a weekly close above this key level than the next level that comes into play is the 1.5600 level which is near my forecast target as well. Support level for next week comes in at 1.5350

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Daytrader21 14 Cze

Update 4: Unfortunately we broke towards new high above key resistance level and big round number 1.6000. We need to find resistance at 1.6200 which is the last level of invalidation, if this gives up my analysis may be wrong and we're heading much more higher.

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AUD/NZD Elliott Wave Cycle Completed

Daytrader21 Przesłano 15 Maj jako Analiza AUD/NZD, Cel: 1.0960, Data: 1 z Lipiec, 12:00 GMT  w #Technical analysis #AUD/NZD #Elliott Wave #Fibonacci Retracement #Cycle #Abc Correction #Zig Zag Pattern
Based on Elliott Wave cycle if we count the move that started from the 2011 high (see Figure 1) all the way down to 2015 parity level we can tell that we have done a five wave move and us such we may consider the downtrend in the final stage. Right now we should be looking for a ABC corrective stage that should at least bring the price near the highs of wave IV at around the 1.1300 level.
Major Levels to watch:
[list=1][/list]…
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6 Komentarze
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Daytrader21 22 Maj

Update 2: As per my analysis we're now heading towards the 50% fib retracement and as expected we made a temporary top at 1.0900. Next support comes in at 1.0600 which should be a good level to take profits as it can produce a bounce

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Daytrader21 29 Maj

Update 3: Right now price is reacting off of the 38.2 Fibonacci retracement and it may be the case we're not going to head much more lower and resume the current up trend. However we need current low at 1.0600 to hold price. Resistance comes in at previous swing high 1.0900.

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Daytrader21 14 Cze

Update 4: As expected AUD/NZD reacted higher from the 38.2 Fib level and we also broke above previous swing high at  1.09000. Right now for next week the 1.1000 big round number should act as support level which later on should be break

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Daytrader21 19 Cze

Update 5: Unfortunately the upside momentum has pushed up this pair right into the major resistance at 1.13000. We should see from here a push lower at least in 3 waves however I'm not sure if there is enough time to reach our target near 1.1000. Even though there are only 200 pips difference current price structure worries me. If Monday we can push lower and close below 1.1180 we can see more downside

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Daytrader21 26 Cze

Update 6: The market is already posting a reversal and a break below 1.1150 should see the market accelerating to the downside and eventually to see a retest of the big figure 1.1000

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