The chart shows a powerful sharp switch in sentiment - which is rare on the 8H time frame. Clearly sentiment has been dented. I see small gamblers jumping in, buying the dip.
Sure - on smaller time frames they may make a few bucks. However, at the moment I think they risk transferring money out of their pockets - on the probabilities shown on this time frame...
This is on the daily time frame. Nobody can predict where price will go or how far it will go in any direction.
This means that if one is shorting or going long on this position, one has to expect losses. I always keep losses at the forefront of all my posts.
I cannot predict what will happen next. People often ask me for targets. I don't do targets.
I show a broad kill zone on 1D chart of UK Oil.
1. Price coming into a zone of congestion.
2. Double pump on Squeeze momentum - which means movement upward of price is more likely to be a minor rebellion.
3. Price below the ATR line.
4. RSI struggling at this time of publication to get above 50.
Short-sellers should not act on this set up unless...
This is would be a late entry short if one decides to go in now.
If one cannot take the loss, stay out! You've been told. In other words if you lose your money, sue yourself.
I do not avoid the issue of losses. I'm going to bring it up more and more - as it is the main thing to be controlled in all trading. Any arguments about that?
Like all the GBP pairs baring the NZD there are shorting opportunities on every pair.
waiting for monday
confirmation on the 4 hour TF and all my rules to be met then i will be opening a short position..
Hi guys, I hope that you are all are well! This week we have seen continued bearish momentum in GBPJPY to which has seen prices push close to 141's even, which is a very important and psychological level for this pair and we also saw prices retest a strong area of structure support (Daily) of 141.00 - 141.30's to which we have since seen some relief in selling...
As you can see after a completion of a successful Advanced Cypher Pattern price has been retesting previous support levels and putting in lower low lower closes. looking for the D Leg (equal measured move from A Leg to B Leg) to complete in between the 1.414 & 1.618 which is a fib extension (from the A to B leg). also have a previous support level there so going...