very good, if you see the chance that a higher target will be reached why not hold a position longer? EU has a lower daily ATR(14), for today only 77 pips, so the expected bounce is around 35-40 pips after the market reaches an exhausting level at ...

Coreg's EW+HP+D/W Range

rehmatkhan, my way of thinking as a day trader. For instance, GU has a daily ATR(14) for today 105 pips. The level was reached during the beginning of the NY session. I expect a bounce of 50-60% if I'm lucky that's about 53-63 pips from the bottom ...

Coreg's EW+HP+D/W Range

rehmatkhan, I'm familiar with 1H TF, but for my needs (prior day range trading) I often show only support/resistance zones on 15M TF b/c these targets on 1H are far away. I'm a 30-60 pips trader b/c that's what I can get with good probability during ...

Coreg's EW+HP+D/W Range

My target for the NY session was reached.

Coreg's EW+HP+D/W Range

watch for the roadblocks on the way up...

Coreg's EW+HP+D/W Range

GU is much weaker...

Coreg's EW+HP+D/W Range

Yep, again 30 pips range. Yesterday I was lucky b/c the bounce of lows was nice.

Coreg's EW+HP+D/W Range

Target hit. Awesome day. image targets for the EU might be taken from higher TF. I had the resting sell limit but most likely wouldn't hold longer anyway. DXY updated chart below. image

Coreg's EW+HP+D/W Range

this is the world we are living...Genesis -Land of Confusion... right now on Q104.3 New York's Classic Rock station...

Cable Update (GBPUSD)

Biatch, biatch ...

Coreg's EW+HP+D/W Range

Out of the GU at original TP @1.2163. I will bi(a)tch later.

Coreg's EW+HP+D/W Range

Again, we are on the same page as the EU. I moved TP on GU to 1.2183.

Coreg's EW+HP+D/W Range

GU 15M TF is doing better than EU during the NY session.

Coreg's EW+HP+D/W Range

Waiting for a clear path at least on 15M TF.

Coreg's EW+HP+D/W Range

The potential bearish shark pattern played out nicely.

Coreg's EW+HP+D/W Range

Yes, your scenario is possible. Currently, the EU is in a strong support zone. Let's see how the PA unfolds. Monitoring DXY is important IMO while trading euro b/c it's heavily weighted in the index. image image

Coreg's EW+HP+D/W Range

birdland, I guess you are right. I set up resting orders twice and none was activated. I started to think I lost touch.

Coreg's EW+HP+D/W Range

image

Coreg's EW+HP+D/W Range

TV, a strong possibility, only support @1.2200 holds the GU before weekly targets are activated.

Cable Update (GBPUSD)

There was terrible movement in GU this week during the NY session.

Coreg's EW+HP+D/W Range