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, Advanced Newbie

, Advanced Newbie

Today covered half of this position at 1269.25, will close the second half before June expiration.

Can we settle for Advanced Newbie ? I kind of like it !

SPY - As the great Jobs used to say "One more thing" Something that cannot be overlooked. An important backtest seen on Daily. Trade well, will be taking some time off the boards as I embark on some personal projects.

EUR-USD First resistance for the pair, the backtest of the old support line. Price action there will dictate upcoming direction. This is where I differ from other seasoned traders, I cannot call it in advance, I just know where to find high probability areas of reaction and then based...

EUR-USD Shoulder Reaction This one was a no brainer for anyone that had studied the monthly chart, was a damn good reaction once the catalyst came out.

SPY Support broke, next support, not there yet, bearish pressure to continue. Chart attached with new data.

When it comes to indices I am purely technical, so would not know anything about that my friend :) Besides one minute I'm long the next I'm short no time to form an opinion, but I get where you are coming from.

Most bottoms form when it looks like the world is coming to an end though, at the peak of bad news.

SPY Strong Potential Support if current lows don't hold. Backtest of "old" downtrendline plus December highs and giving some leeway for perhaps a stop run based on volatility while keeping those higher lows intact. Something important to consider for a long term view.

I find both Ammo's and Xspurt's discussion to be both very valuable and in very good spirit. Without implying any disrespect perhaps some form of price action experience is required to fully appreciate their posts. They are sharing, don't attack them, if you don't like what you see, move on...

Here's the previous post detailing what I was expecting to see before looking for the main long signal.

EUR/USD Revisit of Daily Wedge The stop run hunt that I was expecting below wedge support line has begun so I am now ready to start looking for my long signal. Monthly potential right shoulder confluence (for reaction) is getting closer and closer. Plan is to constantly catch 1min...

EUR-USD Monthly The key area is approaching.

A plateau support zone on the monthly.

re: Eur/USD Last support tested as resistance and back to the test the same area, although not without taking some stops first.

Here's an area I had marked on the bigger charts (yellow line). Going down to the 1 hour you can notice a support line coinciding with the area, this is confluence. Price reacts by plotting a bullish wick bar, some call it pin bars, others simply call it a hammer, either way, it's a snap...

Possible, as I don't rule out any outcome, seen it all, hope for the best, prepare for the worst. However, I will be looking for a swing long signal around 1.23-1.24 that could give ample reward. Will do my best to try to catch it on smaller timeframes to lower my risk, albeit no 1 pip...