Thread: Interactive Trading Setups Disscussion

Weekly prognosis



Candle open: bearish outside and below 224.0 and mr1, out and belo t05 & 21ema suggests bearish opening. *
ADX: above 30 and rising = bearish
OSMA: Bearish but flattening.
Stochastics: was bullish but under 20 just crossed bearish = iffy
UTF Stochs: kd getting wider bearish mode.
Chart pattern: macro bearish triangle, macro bearish range, mid down channel, micro bearish move
Moving averages: Bearish COMA Correct Order Moving Averages with 21, 50, 200 21 & 50 4-5o'clock 200 3-4 o'clock angle bearish

Bias is Bearish w/in a larger ranging macro pattern. *

Weekly Action plan/ chunk.

if 224 ms1 holds as resistance trade down to 261.8 ms2, tl cluster

if 261.8, ms2, tl cluster breaks and tests then down to ms3 and 314.16 phi level

if 314.16 and ms3 breaks and tests as new resistance then down to 361.8 range low

if 224 fails *and tests as new support then trade to 200 fib, if 200 fib holds as resistance then prepare for possible range trade bet 200 and 224 fib.

if *200 breaks and tests as support then trade back to mpp 161.8 cluster.

if 161.8 mpp breaks and tests then next up to 138.2 monthly tl and mr1, parity cluster.

Key Levels

Support

224.0 ms1 - 0.9772 - 0.9774
261.8 ms2, tl - 0.9685 - 0.9674
314.16, ms3 0.9537 - 0.9530
361.8, prior range low - 0.9412

Resistance *

224.0 ms1 - 0.9772 - 0.9774
200.0 - 0.9774
161.8, mpp - 0.9928 - 0.9937
138.2 mr1 parity level- 1.0015 - 0.9998 1.0000

Daily Prognosis



Candle open: bearish same open, 1 pip above 224.0 and mr1, out and belo t05 & 21ema suggests range scenario opening.
ADX: - 30 rising = 31 and flat favors slight bearishness
OSMA: bearish
Stochastics: bearish below 80
UTF Stokes: bearish below 80 narrow kd gap mild bear
Chart pattern: bearish
Moving averages: COMA correct order moving averages = 21, 50 3-4 o'clock 50, 200 3 o'clock price is below all 3 = *bearish
Volume: non indicative

Bias is: bearish with the possibility of range


Daily Action plan/ chunk.

if 224.0 wm2 is broken and tests as support long to wpp to 200

if 224 fails *and tests as new support then trade to 200 fib, if 200 fib holds as resistance then prepare for possible range trade bet 200 and 224 fib.

if 224 is resistance trade to ws1 completing a wr1 - ws1 move

if wpp/ 200 holds as resistance and ws1 holds as support and 224 seems to be violated but treated as mid level then trade a potential range between 200 and ws1.

if price breaks 200, tl wpp and tests as support then trade to wr1 21ema, if wr1 21 ema breaks and tests as support then trade to 161.8 mpp.

if price breaks ws1 and tests as resistance then trade down to 261.8, ms2, ws2, wtl cluster

if 261.8, ms2, ws2, wtl cluster breaks and tests as new resistance opens a move down to ws3, 314.16, ms3 cluster.

Key Levels

Support
224.0 ms1 - 0.9772 - 0.9774
ws1 - 0.9726
261.8 ms2, ws2, wtl - 0.9685 - 0.9674 - 0.9669
314.16, ms3 ws3 0.9537 - 0.9530 - 0.9573


Resistance *

224.0 ms1 - 0.9772 - 0.9774
wpp - 0.9822
200.0 - 0.9774
wr1 - 0.9879
161.8, mpp, wm4 - 0.9928 - 0.9937 - 0.9927
138.2 mr1,w21ema,50ma, parity level, wm5 ultra cluster - 1.0015 - 0.9998 - 1.0000 - 1.0003

Nice Job. But too technical for me.

it takes a little getting used to. but its really just a simple plan.

i think cad completed the 224 to ws1 move today.

Eurusd

Eurusd

Gold

Eurusd

Hi SlyQsx, this is my first post here at trading arsenal. I was looking at that eur/usd 121 bear setup as well, but I am not sure where the entry point is. Is it just somewhere around 2900, or do you look for a daily sell bar, or something else? Thanks!