The only indicators worth reading are MA and maybe RSI. Those tell you what the price is doing. The others are just nonsense. If indicators were as useful as everyone says, then why are any of us talking in this forum and making our predictions? If ...

Does anyone have a reason *why* EU is going down beyond fibs, triangles, or some other TA bullshit? What is the psychological reason behind the downward movement?

lol I'm actually Agnostic. I just wanted to point out that praying is about as useful as half the "technical analysis" bullshit I see in this thread lately. Just because the fucking stars aligned doesn't mean shit for the forex market.

It's a well known fact that God is bad with money.

I think we all just need to pray that price goes in the right direction. Jesus told me last night that if we pray, the fibs will come true. Also, donate money to me because god needs more money. He spent it all gambling on the Forex markets.

I'm not sure why so many people are convinced it's going to go back up to 1.09. Why not just bet all on black at the roulette table?

So I'm guessing some of the liquidity providers shut down during this time and it causes this?

Am I the only person who notices the market acting a bit odd? Getting no movements at all across all currencies for long periods of time and I know it's not my internet. Is this a normal thing at 5PM EST that I've just yet to notice, or did some ...

I don't see RSI letting price hit 780 before a significant retrace. Not many people will be willing to take a short position with RSI in the current state. It has to clean itself up before people will be willing to take more shorts.

I think we're about to test 8150. Then probably continue the downtrend. Re-testing 8150 will bring RSI back to reasonable levels and give more room for shorts.

Profit target hit. Now let's see whether it will break 8150 or not.

Ahh I see now. Well my opinion is that's about to get broken.

Not sure what you mean. He's saying price needs to break 8250 and implying that it's a support/resistance zone. But on my charts, 8150 is the support/resistance zone. the next one above that is the 8325 area. I don't think price is struggling in the ...

I don't see the significance in 8250. For me, the significance is in the 8150 area.

Too early for a reversal I guess. Bears still have full control over the market.

Looking for a reversal myself. Target is not my actual target. Just 1:2 rr target to ensure I can get 1:2 RR before we get to the next support/resistance zone. Edit: Moved my stop to break even seconds before price went below my entry.

See you all tomorrow when the Euro digs its head out of its ass and decides to move more than 2 pips.

Yeah I was thinking about this about 20 minutes ago myself lol. I rarely actually use MACD. RSI is much easier for me to read, and MACD just takes up space. It was something I added to try it out.

Ahh that makes sense. Wasn't sure if you were referring to that or retesting the previous support which would become resistance. After a little more consideration, we might struggle to get past 1.08650. Looks like the 200SMA might hold it above that ...

Thanks. Not sure what you mean by go back and retest. I know 1.08750 is a s/r zone. I moved my stop to take a reasonable profit (slightly above 1:1 rr) after it hit 1.08750. Now I'm just waiting to see if price will continue down to the next s/r ...