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Fibsdontlie

US30 - Buy (30 min, 1 hr, 2 hr, 3 hr, 4 hr)Perfect ripple effect fib set up. Very visible on all time frames. The fact that the 4 hour time frame show us a fib set up is what caused price to act dramatically. Of course news, presidential debate, covid, etc helps price move quickly but remember price always moves with purpose, price is always looking to enter into the next fib. I go into detail on confluence on the actual chart. FIBS DONT LIE, stay the course. No matter how many losses you take, no matter how stressful it gets, stay the course, keep fighting, look at it as a perfect storm, push through, will only make your story better.
ULong
by Socratesinc
GBPJPY - Sell (30 min, 1 hr, 2 hr, 3 hr, 4 hr)This morning we missed the FIB buy and we were looking for a reentry on the buy which often times happens and it did but it didn't last long before price was heading towards a stronger fib which was on ever time frame including the 4 hour. ⭕️We found confluence at the 137.200 institutional level ⭕️We found confluence on the 4 hour time frame: Support and Resistance ⭕️We found confluence on the 1 hour, 2 hour, 3 hour and the 4 hour, price respected the 38% for a fib short which is confluence that the fib short was ran from the correct legs which is what caused price to shoot up drastically out of nowhere to the 137.200 level before plummeting ⭕️EMA lines had already crossed on the 15 min, 30 min, 1 hour and 2 hour time frames
Short
by Socratesinc
GBPJPY - Buy (15 min) Price broke past the 137.000 level after hours of testing it, flew past the 137.200 level due to it being the weaker level, price reached 137.666 and is currently trading under the 137.500 level aka the stronger level. We expect price to retrace down near the 137.000 level and buy off that area as support giving us a perfect 79% entry for a buy. 4 hour time frame also show us that the 14 ema just crossed the 50 ema giving us indication that price will continue to rise.
Long
by Socratesinc
XAUUSD - Buy (30 min time frame)Price broke out to the upside after consolidating for 9 hours. That consolidation zone was bouncing between 2 institutional levels, 1915 and 1920. Price bounced off off the 1930 level before heading down to the next level being 1925, I expect price to retrace to 1918 - 1920 giving us a 62%, 70% and a 79% entry to the upside. We will be monitoring the currency strength meter as price heads towards our entry area. 4 hour time frame shows us that the 14 EMA aka the BUY EMA just crossed over the 50 EMA aka the SELL EMA. Good indication that price is goin to continue to head to the upside.
FX:XAUUSDLong
by Socratesinc
GBYJPY - Buy (Small mistake) COSTED A LOT I always start with the fact that fibs do not lie, I mean that with every ounce of faith I have. God created fibs not just for forex but for nature in general. Look up the Fibonacci sequence if you don't understand what Im talking about. What happens often is identifying which leg broke structure, where does the leg begin? My mistake here was I ran my fibs from the bottom of the chart rather than where price broke structure. Back to the drawing board to perfect my craft.
Long
by Socratesinc
XAUUSD - Sell (30 min)Oct 20th, 2020, saw this set up around 11 am EST forming. Began the day in blue, was negative in a trade for a couple hours which caused my emotions to act erratically putting me in passive mode for the remainder of my day. I eventually ended up in blue on that trade but wanted to secure my profits for the day and no longer place any entries. This was a perfect zone set up though and on the 4 hour it almost touch the 62% for a fib short which gave it more confirmation.
OANDA:XAUUSDShort
by Socratesinc
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