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LIQUIDATING MARKET
As we are in the early stages of the club and before I start going into specific strategies, I want to re-emphasize that my main goal when I trade is to identify what side to trade and that includes what type oif market.
The following 30 minute chart is from July 18, 2024 and is typcial of a liquidting market. Trend has been strong up and after topping out yesterday, we saw a liqudating market today.
Notice how each pause and blip failed, forming another blue Amazing Trader line, which was then followed by a new low. At each poause GBPUSD looked like it was bid. So, you tell me what side of the market was most at risk. Trying to pick a bottom was a sucker bet.
T
I suggest reading this article as it explains what I mean by a liquidating market.What is a Liquidating Market and How to Trade It?
‘GBPUSD HOUR CHART – 1.30 REMAINS TH KEY FOCUS
Failure to hold above 1.30 has cooled the move but would need to break 1.2937-66 AND THE TRENDLINE to suggest a top is in for now.
To state the obvious, 1.30 will set the tone going forward.
Note the 4 hour trendline is a major one although the daily trendline is far out of range
Pauses below EURUSD 1.0950 and GBPUSD 1.3050, AUDUSD brief blip above .6750 and USDCAD pause above 1.3650 means it is time to revisit
My Favorite Trading Secret: The Power of the 50 Level
GBPUSD WEEKLY CHART – 1.30 BREACHED
I had to go to a weekly chart to show the next key level at 1.3141.
In fact, this chart has not changed so it was easy to post the same levels I have been showing:
1,2893 break exposed 1.3141 as the next target.
Now, needs to hold above 1.30 to keep a strong bid targeting 1.3141, Below 1.30 would cool the risk.
Catalyst: UK CPI
GBPCHF 4h
Supports : 1.15950 , 1.15600 & 1.15250
Resistances : 1.16250 , 1.16350 & 1.16500
Close of this Bar above 1.16200 would call for more Up
Break Above 1.16500 would open a new playing field – Higher channel !
Join us in the Trading Club
GBPCHF 4h
Supports : 1.15950 , 1.15600 & 1.15250
Resistances : 1.16250 , 1.16350 & 1.16500
Close of this Bar above 1.16200 would call for more Up
Break Above 1.16500 would open a new playing field – Higher channel !
Robinson, where are the trend lines on your chart ?? Playing on hunch or gut feeling ???
Let me be clear – we can all hit the gold once in a while, but we need to be wrong just one time , going in without the stop and the whole margin will be wiped out easily.
Discipline is the Major part of trading .
Rules of engagement .
Please try to copy my trend lines for now…I should know what am I doing …
EURUSD DAILY CHART – POWER OF 50
1.0852 breakout targets 1.0916 next as long as it stays above this level.
It is why I csaid earlier 1.0850 sets the bias.
Only below 1.0850 would postppne the threat
The high so far has been 1.0899, only GBPUSDD has so far extended its high..
Above 1.0916 would expose potential for 1.10
