EU swing for the stars
To start off I am a swing/dynamic trader and I am here just documenting my ideas and insight.
All of my timeframes I use have dynamic support and resistance lines associated with them
Weekly - Black
Daily - Yellow
4h - Orange
1h - Red
This will help you understand where things are based at and what time frame they are associated with.
I am already in this move and probably won't hold it to the full tp and will take moves flowing within it but will be looking at this for a long term target until shown by the printed candles otherwise ( yes I already hit 100 pips but decided to keep holding)
I am just thinking over the course of possibly the next 56 (ish) days we will reach the weekly zone I have marked off. If we break the 1.1044 area I think it'll be a good sign that we could drop lower. Of course there will be other fluctuations within this overall move, but again this is just here to document this overall target.
On the daily is where my main higher timeframe is you can see the support and resistance of the current price action is marked off by the yellow line
The weekly is where the overall swing target will be but daily is where the cleanest structure currently is
Weekly with target:
On the 4h we can see that currently we closed bearish under the previous level of 4h resistance with a thick bearish candle and we TESTED the area, never broke it, this gave me confidence to keep holding, we are currently in-between the current 4h support and resistance sow it is just a waiting game and tracking the price action
On the 1h we see that it LOOKS like it broke that previous resistance area but that is why we zoom out and look at the higher timeframe to confirm that break which we saw on the 4h that it TESTED the 4h resistance which higher timeframes hold more weight. So now knowing that we are just watching being PATIENT and letting the market develop and SHOW us where it is headed
That is about as deep as I'll break it down as the lower time frames I use for entering and watching the transitional momentum on. I only use the FIB as a means of determining short term (swing) targets other than that I can usually not have these lines and see what price action is showing me. You don't need much
Hopefully this was helpful to some, but yeah we will see how things play out!
All of my timeframes I use have dynamic support and resistance lines associated with them
Weekly - Black
Daily - Yellow
4h - Orange
1h - Red
This will help you understand where things are based at and what time frame they are associated with.
I am already in this move and probably won't hold it to the full tp and will take moves flowing within it but will be looking at this for a long term target until shown by the printed candles otherwise ( yes I already hit 100 pips but decided to keep holding)
I am just thinking over the course of possibly the next 56 (ish) days we will reach the weekly zone I have marked off. If we break the 1.1044 area I think it'll be a good sign that we could drop lower. Of course there will be other fluctuations within this overall move, but again this is just here to document this overall target.
On the daily is where my main higher timeframe is you can see the support and resistance of the current price action is marked off by the yellow line
The weekly is where the overall swing target will be but daily is where the cleanest structure currently is
Weekly with target:
On the 4h we can see that currently we closed bearish under the previous level of 4h resistance with a thick bearish candle and we TESTED the area, never broke it, this gave me confidence to keep holding, we are currently in-between the current 4h support and resistance sow it is just a waiting game and tracking the price action
On the 1h we see that it LOOKS like it broke that previous resistance area but that is why we zoom out and look at the higher timeframe to confirm that break which we saw on the 4h that it TESTED the 4h resistance which higher timeframes hold more weight. So now knowing that we are just watching being PATIENT and letting the market develop and SHOW us where it is headed
That is about as deep as I'll break it down as the lower time frames I use for entering and watching the transitional momentum on. I only use the FIB as a means of determining short term (swing) targets other than that I can usually not have these lines and see what price action is showing me. You don't need much
Hopefully this was helpful to some, but yeah we will see how things play out!
Kommentar
As you can see we had a beautiful drop out of the range that we were in last week, and came back up to "retest" that area and this is showing that "transition" or break into a new trend which can be considered an overall bearish trend in my opinion.
On the 4h (orange line) you can see that we are about close within the next hour and that will hopefully close bearish and if so that will give us more momentum to keep going down
The daily (yellow line) which also closes in an hour again as long as it closes past the previous bullish candle open that could be considered a daily engulfing. Which again can show more bearish momentum
and for the very base of the breakdown the 1H (Red line) which we can clearly see just BASIC market structure which is the 1h making a LH (lower high) after breaking down and making a LL (Lower Low) which again is an indication of a bearish market
This was just a quick update, still of course tracking the market structure daily and making sure things are flowing accordingly. Some may have though the market was bullish last week, and even today there was a nice 50 pip bullish push but we must be aware of what the market is SHOWING us and not what we are ANTICIPATING. Closed candles are king and show you where the volume and sentiment is as. So far making good progress towards the TP, cheers everyone!
Kommentar
SL could have been wider, and I should have know that for a swing like this, but the overall move is still plating out nicely and we are making our way down!
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