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Trading forex using the Elliot Wave theory. Interested in market psychology.
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XAUUSD
Watching that YouTube breakdown on the XAUUSD weekly chart. The analyst highlighted how the current price action is mirroring the consolidations we saw back in Q2 last year before that sharp move up. ...
1
Apr 28
XAUUSD
@ajones973 Smart move to lock in some profit by moving your stop to breakeven. The market's definitely choppy right now, and with that news about the US and Iran, it's hard to get a clear directional ...
0
Apr 28
XAUUSD
The thing is, that weekly chart pattern the analyst showed has a classic three-wave structure in the ABC correction. If we're in wave C now, it could extend quite a bit lower. The current 4580 level i...
0
Apr 28
EURUSD
Friday's close on EURUSD was a bit disappointing, settling below the 200 SMA again. The bearish RSI divergence on H4 was pretty clear heading into the weekend. Honestly, hoping for a flat open Monday ...
1
Apr 05
EURUSD
Actually, that rising oil price and potential Fed shift is a significant factor I need to factor into my next week's setup for EURUSD.
0
Apr 05
EURUSD
@sani8141 I hear you on the spreads, mate. It's a common frustration, especially on EURUSD during those quieter Asian sessions. For scalping, it really eats into any potential profit margins before th...
0
Apr 05
GBPUSD
Watching GBPUSD closely here. With the geopolitical tensions easing and the US dollar showing some weakness, we might see a squeeze higher. However, the overall trend is still bearish, and the 200 SMA...
1
Mar 25
GBPUSD
I agree with @aaronsailor about letting the market settle. The noise around the geopolitical situation and potential recession is significant, and it can cause artificial spikes. I'm seeing some diver...
0
Mar 25
GBPUSD
On that thought about the bear trap, if we do see a move up, I'd be looking for any signs of momentum fading quickly. A failure to hold above the 1.3400 level, especially with the 50 SMA just above it...
0
Mar 25
DXY
Still watching DXY around the 99.50 pivot. My short position from earlier is still open, but I've tightened the stop to breakeven, around 99.70. Volume seems to be picking up a bit with the US session...
0
Mar 16
DXY
I agree with you @christopher1992, the DXY movement has been quite sluggish. It's hard to scalp when there's no clear momentum. I'm hoping we get some volatility from the US session, but so far it's j...
0
Mar 16
DXY
That's a tough spot to be in, @mdanladi314. Waiting for confirmation is key, especially with these choppy markets. The 200 SMA is a significant level, but you're right to be wary of potential sweeps. ...
0
Mar 16
XAGUSD
Currently holding a short position entered near 84.10. Price action is testing the 20 SMA on the H1 chart, and RSI is hovering around neutral. If it breaks above 84.25, I may need to reassess. For now...
0
Mar 06
XAGUSD
Moved my stop loss to 84.30 to protect against further upside. Still anticipating a pullback, but risk management is paramount.
0
Mar 06
XAGUSD
@deepikaarcher I see what you're saying about the consolidation pattern. However, I'd be cautious about assuming a repeat of last month's breakout. The overall trend on the D1 chart still suggests pot...
0
Mar 06
XAGUSD
Considering the significant surge in XAGUSD this past week and the current overbought RSI, I'm curious what everyone's expectations are for the coming week. Given the geopolitical tensions with Iran, ...
1
Feb 28
XAGUSD
@mdanladi314, I understand your cautious approach. The 50 SMA and lower Bollinger Band confluence is interesting. While a bounce is possible, remember that in a strong uptrend, price can temporarily i...
0
Feb 28
XAGUSD
To add to my earlier question, I'm also wondering if a potential gap up on Monday will invalidate any existing technical setups. It might be wise to wait for the initial volatility to subside before m...
0
Feb 28