price action trading

atulas1

atulas1

Member
#271
#271
saakk said:
There is documentary By PBS news, i dont remember the name but its about when Pounds has to leave exchange rate mechanism and the famous "soros" trade, what i picked up from that documentary was "when situation is arising through fundamental you cant blame speculators for price rise or fall, may be it can influence by some factors but ultimately price will find its equilibrium". In that documentary gov. and RBE did every thing to scare speculators to stop shorting pounds but it never worked.
Click to expand...
i am reading a book on soros and this pic is from the same book
 
Last edited:
saakk

saakk

Well-Known Member
#276
#276
F........................................................................... man
 
saakk

saakk

Well-Known Member
#277
#277
Daily chart:- Price make a bear reversal doji at top, next is a bear bar a follow through of doji as expected, but today price open strong and if close is strong too? price might make a new all time high.
 
saakk

saakk

Well-Known Member
#279
#279
JJ.VEERAMUTHU said:
But, I am expecting a red daily bar like yesterday
Reason: price just gone up to the 20 ma of the hourly chart.
It is a normal correction to ma.....
In general a downward trend wave crossing below yesterday's low expected..........
Setup invalid above: 61.20
Click to expand...
Dear JJ,
Actually i don't understand the concept of "elliot wave theory" so can't comment on that. Even I never thought that market will zoom like this but it did and whatever was my old expectation is void now, Take current price into consideration, Reason i don't follow so many time frames cause it confuse me, i look at daily then trade off only 5 min, if i want to understand bigger trend i zoom out on 5 min upto 10 days or so. Again we are talking probability so no one is right until MARKET proves it.

P.S: Check a monthly timeframe, see how strong USD closed.
 
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