current bias - long-ish 🙂 untouched liquidity above, liquidity took below, leaning long as long as pivot that broke midrange holds. if we lose pivot of midrange, possibly heading to range lows key pivot shown on hourly favoured long but open to shorts
current bias - short two spots of liquidity took above, and a pool of untouched liquidity below. two areas i'm happy to sell at on the hourly. prefer the lower area, but not discounting that the upper area could be retested on daily tf, so waiting for PA before entering in lower area. the lower area worked perfectly. I waited for a confirmation on PA on 5 min before getting however. we spiked into sell area taking liquidity from prior high, this gave me a supply area (and the last low pre break) to jump in. choppy H1 PA meant I...
double bottom above some skinny price action? get below that and we possibly head lower. hourly is setting up nicely so far, giving us an invalidation point. Getting the breakdown, but invalidation has changed following recent PA. Looking for new structure on retest of level (blue circle) to build tighter stop and nice entry T1 hit, but no break and follow through to T2.
this annoys me more than pips and ticks used incorrectly annoys trader dante. i have a bugbear with the way people incorrectly use the word fractal. they know the market contains fractals as they've read it at babypips or wherever, but they apply the name to something completely different. what makes this worse is that unbeknown to them, it probably is a fractal yet they are demonstrating something different; a repeating pattern. i'm not picking on anyone here, this is literally the first one that popped up when searching on twitter. showing a repeating pattern and calling it a fractal they are using...
I see the word context banded about quite a bit at the moment. so i thought i'd try and give some .... errr .... context around it. when i think of context i think about the 'bigger picture'. as technical traders we all have our price patterns we look for to get us in (or indeed out) of the market. but without building a bigger picture of what's happening, you will more often than not get steam rolled. as an example, here looks a juicy setup on eurusd five minute timeframe. its already dropped quite a bit, so...
monday formed key range containing the week. broke out to the downside. if we pull back the obvious place is to the retest of last low pre break, which is at a good resistance level, with confluence of the monday 1/4 range. complete the retest, and break back below monday low again, and probability swings to shorts to T1 @ 2040, and then onto T2 @ 2011. unfortunately, it pulled back great, started to turn and then the ECB got in the way. no setup to enter on.