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Trading EURUSD only 43,706 replies

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Attachments: EURUSD only
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EURUSD only

my weekly charts has room for upside.
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A zig-zag around the 53-MA is a sign of ranging market ...
Levels to watch for: [1.2164 - 1.2294] ...
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Market is not random but unpredictable
Big rally going on in Germany right now, not sure how will it affect Euro when market opens.
Quoting Ata-Turkoglu
Hourly Chart - Quick Outlook My bias is still bullish (as long as the support zone between 1.2175 to 1.2202 holds. I am not assuming anything. First want to see how candles develop inside that zone and then depending on progress I will prepare a potential buy setup. I must see enough support strength there. If support holds price above 1.2202, then I expect some resistance starting from 1.2227 up until 1.2250 area. If bulls can break the pennant shaped triangle from the upper edge 1.2250 level we can expect higher levels. But..... if bears break...
Well let me start off by saying this, at no point am can I be considered as a credible source. I am a novice and have not been trading very long and joined FF to measure my knowledge against others to see where there is room for improvement.

So I will share my outlook and why I think it will go that way but for the most part i believe that both mizi 123 and ata has valid analysis.

I am a price action trader, I don't use indicators (I don't like them).
I am a 240/60 trader so i don't look at the other time frames at all. (only 15min in for entry and nothing else )
At no point do I see this as being a reversal in the market the bulls are still in control.
I don't like to trade news so I might not even give this a go at all. But news will play an important factor in this trade.

On my 4 hour
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1. I made my first comment for sell on the preparation of the V - Formation and had a sell order in at the top of the wick. made some profit there but took profit
@ purple 2

2. Probe below Purple 2 was concerning but still small sell potential with that pullback I currently seeing this market as a range within purple 1 and 2

3. Current Market another V formation indicating sell if the pullback survives. I WILL NOT sell this because it is too close to my purple 2. I will wait for the pullback to purple 1 and see if it gets rejected.

4. If it breaches Purple 2 I will then watch my dotted line carefully because I know that the range could fake out again.

5. If it doesn't fake out and make a lower low i will watch my block area carefully because there is a S&D there. I am thinking the bulls should kick in from that zone. But if that zone fails. then I am all for Mizi 123's analysis on the condition that the bears break purple 3.

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I'm hoping to get your feedback on this because knowledge is everything in forex.

Disclaimer: As I said in the beginning of my post I am a novice and you should take everything I say with a bag of salt. Also be kind when burning me.
The chart below was also posted in another thread, so there are elements marked that are not relevant to this post.

TRADE THE IS, NOT THE SHOULD BE.

It is so nice to surrender to the Market; to follow it.

Everything that tells you what the Market should do is irrelevant (not necessarily wrong, but Irrelevant). What matters most is what the market is doing right now.

I have no idea what the market will do. But as long as price is below the Cycle of Time Line and Chart Modes I & II are red, I would certainly not be a buyer.

The second to last interval on the chart, was a L1 MODERATE Selling Aggression bar. The last interval appears that it will also be a MODERATE Selling Aggression bar. Will we see follow through and acceptance below? Only time and the Market will tell.

The future is unknown and unknowable. So I will remain present with hyper and ego-less adaptability.
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Wyckoff VSA: (1) Supply vs Demand (2) Effort vs Result (3) Cause vs Effect
will this help ?
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Indicators on my chart help me guess the trade they do not guarantee result
EUR/USD, weekly time frame formed a nice SHOOTING STAR.
may be this confirms us to go short if there is a breakout at level 1.22100 in the daily time frame.
Quoting thesharkies
{quote} [...] At no point do I see this as being a reversal in the market the bulls are still in control. [...]
Thank you very much for your efforts on putting a well studied analysis onto the table. I think the core of your idea is well defined in that one sentence. Time will show but I am with you on the bullish side. Especially as long as price stays above 1.2175. Good luck for coming week..

One more thing: We generally are so used to get roasted in other threads which generally are filled with trolls, hatred and pissing contests.. Here you are safe, no worries at all.. Our family here is supportive and peaceful.. enjoy the party..

Stay Green
Be a seer, not a looker!
Daily Outlook and Sweetspot Levels for Monday

  1. Only for Monday, my focus area will be to look for buy opportunities starting from 1.2193 ---to--> 1.2175 area.. (important is that I would not prefer to buy in case I see H1 candle close below 1.2175.. then and only then it would be a no no..
  2. If price goes directly up I will expect resistance at 1.2260 ---to---> 1.2281 area.. overall we can think that we might be inside a small ascending channel (thin blue lines on chart) where the upper edge ends at 1.2363 (my extreme high for Monday).. don't miss that channel and keep it in the back of your minds.

My half cents..

Stay Green

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Be a seer, not a looker!
Hello friends. I am currently working a refinery turnaround in southeast Texas right now. Working night shift, so I've had the opportunity to trade the London session. i continue to maintain a bullish sentiment for the pair. I do believe we will see a breach of 2170, then possibly some stop hunting before resuming to the upside. On the chart, this is what i see. Of course, the market will decide. As always, happy trading to all of you. And THANK YOU, to those of you seasoned traders for continuing to educate us novice guys. It is appreciated!
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Zip
Is there anyone who shares the same vision?
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There is Light at the End of the Tunnel.
Quoting FXClarity
Longer term trade in play...Targets in a blue below...many will think me insane. {image}
I have no problem with you aiming for 1.19 or lower but would suggest your 1st target should be above the 1.1922 low from your chart, not below it as it's a likely support. Me, I'm short with multiple positions and will be taking some profits all the way down, however far it goes or add on the way up if it goes that way. Much will depend on German coalition decision.

eg of likely scenario if price is dropping. Price reach 1.194 and bounce. If closed some at 1.194 then could partially replace (or fully if aggressive) at say 1.2040.
Hope for the best, prepare for the worst.
Ata,
You're a prominent feature in FF and it's marketing strategy!!!

Here

https://www.forexfactory.com/website

Good job buddy!!!

Though some mindless people are pictured in the left side too
Beware of robber banks (RB), bad advisors.
Der Trader All Time Pips: 52,970
Thought I let you know..

Currently there is an extraordinary debate from the German social democrats on the possible coalition talks with Merkels CDU (I am watching it live). And it seems like they are going to vote with NO this afternoon. This would be a huge blow for a possibility of forming a new German government.

The results of the vote will be final around 4 or 5 pm UTC.
Quoting Drolph
Thought I let you know.. Currently there is an extraordinary debate from the German social democrats on the possible coalition talks with Merkels CDU (I am watching it live). And it seems like they are going to vote with NO this afternoon. This would be a huge blow for a possibility of forming a new German government. The results of the vote will be final around 4 or 5 pm UTC.
they could vote NO just for political posturing and to save the face ....

...... and then form a coalition government just as well for the sake of the nation and the sake of Euroland ...
Quoting MXT
{quote} they could vote NO just for political posturing and to save the face .... ...... and then form a coalition government just as well for the sake of the nation and the sake of Euroland ...
Not going to happen. This vote is obligatory! It is no "recommendation" event.

It would lead to a very uncertain near to midterm future imho .. still no decision at this point to be fair. But comparing the applaus from speakers defending the coalition talks to the ones who want to end it is pretty clearly.
Quoting Drolph
{quote} Not going to happen. This vote is obligatory! It is no "recommendation" event. It would lead to a very uncertain near to midterm future imho .. still no decision at this point to be fair. But comparing the applaus from speakers defending the coalition talks to the ones who want to end it is pretty clearly.
mandatory and politics do not fit well in the same sentence

they've used 4 months of talks already without being able to form a coalition government , they can use another 3 and kick the can down the road

we'll see , but i doubt that the German president would allow a new round of elections to take place without trying to have at the very least an "institutional" political coalition government being formed - that's the way European politics works

just imho
Quoting MXT
{quote} mandatory and politics do not fit well in the same sentence they've used 4 months of talks already without being able to form a coalition government , they can use another 3 and kick the can down the road we'll see , but i doubt that the German president would allow a new round of elections to take place without trying to have at the very least an "institutional" political coalition government being formed - that's the way European politics works just imho
Good argumentation, MXT.

But while the debates and negotiations were done by party elite and ministers up to this point, the vote now includes the base of the party (for the first time) which never had the chance of direct influence on the whole process until now. That's the main difference on the issue at this point.

But yeah, speculations will end in two or three hours. Let's see.

In case of a no at the vote a new round of elections is not the forced consequence. A minority government may be something interesting as well. But an urgent uncertainty would be present for at least some more days or weeks and I think a short term EURUSD impact should be expected at least. And that's why most of us are here.
Quoting Not-KPMG
Ata, You're a prominent feature in FF and it's marketing strategy!!! Here https://www.forexfactory.com/website Good job buddy!!! Though some mindless people are pictured in the left side too
Thank you for your good intentions.. but not yet bro.. that image brings in random members every time page refreshes.. but still feels nice to have supportive friends like you.. thank you so much.. much appreciated..

Stay Green
Be a seer, not a looker!
Quoting Drolph
{quote} In case of a no at the vote a new round of elections is not the forced consequence. A minority government may be something interesting as well
impasse and minority coalition politics is in big fashion around the globe these days

on a totally different level , just take a look at what's going on with the US gov shutdown : they basically find no way of agreeing on DACA , and the US gov shuts down with the house , the senate and the presidency controlled by the GOP

a tiny minority is holding sway
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