EURUSD only

It's been really great for range trading using 1 hour chart candlesticks. This has been my preferred strategy up to now. This is my last day trading until Thursday New York open as I do not want to trade the whipsaw that next few days will bring. Been there, done that, lost money

For those inclined to get on the roller coaster, there are 3 outcomes of US elections result (I am talking around the time of London open Wednesday)

1. Like 1984 or 2008 (Sweep, no doubt who won)
Scenario 1. Will start off moving in expected direction. But... BIG But... Expect the movers to push opposite direction early on so they can accumulate their holding positions at favorable prices while taking short term losses to build against retail. In Days Of Olde, it was called "painting the tape"

2. Like 2000 (No Clear Winner. Took many weeks before winner was decided)
Scenario 2. Super Chop. It will be range traders dream market. Up and down and side to side.

3. Like 2020 (Results were in but disputed)
Scenario 3. Will be tricky as trader emotions get high. Stay small and try to ride the surf. But just like surfing do not turn your back on the trade. It might be a nice curling wave or it might be a tsunami. Stay safe and live to trade another day.

Happy Trades to you,
NB

Oh, might thoughts for today. There was a gap open. I expect mostly downward movement today but not enough to close the gap. I expect the gap to stay open until FOMC on Thursday. If they cut more than 25 bps, very bullish for this pair. But for today, I am staying short until the Open in Japan.

Quick DAILY Outlook (Update)

1. The inner circle is still intact.
2. As long as price stays above 1.0860, bulls have the upper hand.
3. But be aware, that there is also selling pressure coming from the GREEN/RED line wma area: ~1.0915/30
4. Overall, US election turmoil might cause a breakout from inner circle but until then I stay bullish!

Like the Japanese, I took a day off (and tomorrow) and even my shit for brains robot made a profit, LOL

EURUSD is now back to the beginning of the gap, in the H1 timeframe the price is near the lower band which to be support level, the price has crossed the MA 50 from the upper side. Today is the US election but it is not certain who the winner will be.

I reckon the gap will be filled tonight - I'll short here for 1.0835

Meanwhile, on H1...

I rinse & repeat buying until it works no more... 1.0872 is the current nearest support...

Happy trading day to all

My prediction for the US ELECTION freak show!

Quick DAILY Outlook

1. Today, all I care is ~1.0902 area resistance..
2. On a normal day I would simply try to sell BUT election turmoil can change general flow. Therefore, I am holding my thoughts for both scenarios and I believe it is best to wait for volatility and clear direction.
3. One thing for sure: Don't jump into conclusions today. Trade wise!

Meanwhile, on H1...

Bulls are safe while inside circle and above 1.0884 BUT they still have to overcome 1.0893 area next.. Let's see...

This next hour is crucial for EurUsd for today. It is in the 4H Decision zone at 1.09. 4H shows downward pressure. Have to wait and see if Price Action confirms. Daily pressure is still to the upside but we all know a lot can happen on the intraday TFs and still maintain the higher TFs direction.

Looks like the decision got delayed a little bit. Waiting to see how this hour ends.

The 4h pin could be taken as a short with a small stop. The lower TF Price Action is a little messy though. A break and hold above 1.09 shows that the decision is for bulls.

Bulls for the next several hours.

Hi guys
sell limit at 1.0913
TP 1.0825
SL 55 PIP

Kinda bored so here are my 2 cents
Unless you're sitting in one of the swing states election comitee and see results before the public does: Today/tomorrow it's just gambling which way it'll turn. Got a clear 50/50 chance though

Trade active

In my opinion, news doesn't really do anything but act as a catalyst for what was already planned for the day. The number of Dollars the big banks need to exchange into Euros today doesn't change just because there is an election. Those are the largest transactions in the market by far. Speculation doesn't even come close to those numbers. Speculators are mostly there to increase the efficiency of the market, also known as filling the other side of the banks' orders. It's when you stop filling their orders that you start to make money.

Based on H1, I am marking ~1.0903 area as nearest support.. I keep rinse & repeat buying dips...