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Study3Here , market gives us only Daily levels. Okay , we will trade around them only. However , we are in triangle pattern . Indecision in the markets again. It's very risky to trade in that kind of environment. Market can do anything. You must be very cautious. If we go long , we will be stopped soon , If we go short , we will be stopped soon. So we just chill out and stay flat until some side is hard broken. Only after that we can anticipate given direction to be reached. This chart shows absolute levels. Trade what you see. Resistance above , no longs , support below , no shorts , WAIT , Best decision right now.
by 3nchev
Weekly Journey X - Range movement, breakouts, support+resistanceAs you can see, there are 4 important points that might be the crucial checkpoints tomorrow. Predicting that Nr. 1 is a 99% probability (the only way we can pass that range is if it gap opens up or down by +-40 cents). Nr. 2 has 45% probability from Nr.1, Nr 3 has 55% probability from Nr. 1. Nr. 3 has 75% probability from Nr. 2, with 25% probability of a continuous move downwards. Nr. 4 has a 55% probability from Nr. 3, with 45% probability of a continuous move upwards. At Nr. 4, there is a 60% chance of staying in range, and moving upwards, and a 40% chance that we will see a continuation of moving downwards. - Percentages are derived from my personal research that include news, "smoke", data, recent movement, fibb lines, medians, support and resistance strength, fake/true breakouts and more. They are also strictly my personal opinion. - Probabilities and statistics are always part of my work, which I will publicly incorporate into charts from now on after testing them for a month privately. Nr. 2 is a very good point for a Long entry, Nr. 3 would be a decent Short entry, whereas Nr. 4 might be a solid Long entry if the MLH holds (staying in range) with a tight S/L.
NYMEX:CL1!
by NickBlack
Gold like HellI'm thinking about getting short a bit higher. Maybe I want to trade for Weekly close lower. I wait to see price action around this exact level , Daily Support and see what's going on in there. Then if I see Rally or something like that plus rejection of it's highs , I will get in short. Guys , you need to know that you cannot write your strategy down , it's losing strategy , Best strategies are not exact , you have to feel them. Market is always changing , so , Dont be exact in your strategies , Add simplicity to your strategy as well. Be great observer , market is talking , you just have to listen to him.
COMEX:GC1!Short
by 3nchev
Aussie - Amazing these daysAussie is amazing these days , It shows very nice trading opportunities. A lot of people are trapped here however. No reason to sell this pair for now. It can be sold only higher. We are on Major levels which show us strength. I currenthly anticipate higher prices next month . I'm waiting for more confirmation from Monthly close , If needed I will wait for Weekly close. I don't know what will happen , no-man's land . Market can move a lot for a short period of time. It's better to miss a trade than to Hope given trade to be profitable. Be patient and Risk small !!!
by 3nchev
Alcoa - Destiny Strong trendine broken , 2 times Test , Continuation higher making NEW HIGHS , forming something line Inverted Head&Shoulder , wave analysis can be put into consideration here too , a lot of opportunities around Alcoa are anticipated. I'm flat , out of this market for now , Thinking and Observing Price Action , Do the same , Do Not trade , stay and observe , watch candle closes , don't be fast in triggering the shot (trade) ! I wait for Daily strong closes + Weekly and Monthly bullish closes before starting to write my trading plan for future.
NYSE:AA
by 3nchev