Thread: Interactive Trading Setups Disscussion

Originally Posted by paulselvan

Lobo,
Honestly I didnt expect so much bearish movement on gbpusd.
I asked to an expert Why that huge reversal ?Here is his explanation :
The top reached by gbpusd was a particular zone : it was swing,daily and intraday traders take-profit zone ..!.
You can see on gbpusd weekly chart a double bottom : its theroic profit zone was that top
Another double bottom on daily chart : its theoric profit zone was also that shark prz...

So when trade HPs , using them with price action (double bottom/top,shs/ishs,...) should give them maximum effect !
It is simple and efficasy...

Paul,
Tnx for the explanation. I try to come up with an other one too, but since I am just working my way into it, it might be a wrong one.
GbpUsd is currently in a monthly and weekly supply (resistance) zone. In these cases the beautiful strong uptrend on D1 and H4 does not matter any more due to the strength of the HTF levels.
If you look back these levels the pair was shooting down from these in the past, so your shark was a very friendly one, congratulations!
Concerning the shark, could have been a faulty one by a few pips missed the 113 minimum fibex of XA in point C. Regardless the D point was at the beautiful 113 max extension of the shark XC.
Now there is only one concern I see, it has broken above the weekly zone by 55 pips or so and was not only the wick, but also candles closing above, indicating that this level did not work, and is removed.

Originally Posted by lobogabor

Paul,
Tnx for the explanation. I try to come up with an other one too, but since I am just working my way into it, it might be a wrong one.
GbpUsd is currently in a monthly and weekly supply (resistance) zone. In these cases the beautiful strong uptrend on D1 and H4 does not matter any more due to the strength of the HTF levels.
If you look back these levels the pair was shooting down from these in the past, so your shark was a very friendly one, congratulations!
Concerning the shark, could have been a faulty one by a few pips missed the 113 minimum fibex of XA in point C. Regardless the D point was at the beautiful 113 max extension of the shark XC.
Now there is only one concern I see, it has broken above the weekly zone by 55 pips or so and was not only the wick, but also candles closing above, indicating that this level did not work, and is removed.

Im not sure completly understand .But i suppose youre expecting more bearish trend,isnt it?
As UK fundamental has gone well, the last week reversal will be allowed to swing entry ,as many speculate more bullish gbpusd

Originally Posted by paulselvan

Im not sure completly understand .But i suppose youre expecting more bearish trend,isnt it?
As UK fundamental has gone well, the last week reversal will be allowed to swing entry ,as many speculate more bullish gbpusd

I just wanted to learn from what might happen when two HTF zones are together, but yes we are in a monthly supply (resistance) zone, I will expect the bears to come to help the bear moths/butterflies/sharks and all other animals unless the monthly top gets broken. Currently my only concern would be, that weekly top is taken out, it might go down, or simply return to the monthly top (cca. 100 pips) and from there I think it is still a short for long time investment with low risk.

EURAUD seems to me for Shorting, and AUDUSD for Long ... lets see how it plays out.

I agree, but decided to take AUDJPY instead of AUDUSD.. fingers crossed :-)

Originally Posted by kor4x

EURAUD seems to me for Shorting, and AUDUSD for Long ... lets see how it plays out.

so far so good

AudUsd H1 potential bear bat, however we are bouncing from a HTF D1/W1 demand (support)

Considering bullish entry on EURJPY butterfly pattern retest -> Harmonics Tube: EURJPY butterfly pattern - entry on retest