EUR/USD 4 days bullish trend. I'd buy the lows: 1.1700 - 1.1719 ...and TL {image}
green week for you all!
- #27,601
- Jul 8, 2018 5:32am Jul 8, 2018 5:32am
- Joined Jan 2015 | Status: Never underestimate value of an pip | 4,677 Posts
green week for you all!
- #27,602
- Jul 8, 2018 5:53am Jul 8, 2018 5:53am
- Joined Feb 2017 | Status: pippin' | 1,139 Posts
{quote} Same here TudorIan resistance has been broke sucesfully i hope she will turn into support
No confirmation yet, price simply got pushed slightly above the 23.6 Retracement by news late friday and hovers around it, which explains the close.
We need to wait and see what:
- Asia does
- London Open does
Until then, it is too early to make any predictions and I rather wait if this Minor Resistance can become Minor Support. If it does, I scalp it up towards the Supply (until I see the Pending Sell Orders on the DOM)
Sure we had strong bullish momentum (news driven), but I'd still be very careful with any Long trades. (except for scalping the Dips)
Smart Money might execute after Asia pushing for a better price to sell and always keep in mind you are buying into very strong Supply up there.
It needs serious Buyers agression to wipe these out.
H4 - (yeah the "lights" are back...)
you are not expected to understand this
- #27,603
- Jul 8, 2018 6:13am Jul 8, 2018 6:13am
- Joined Jan 2015 | Status: Never underestimate value of an pip | 4,677 Posts
{quote} Resistance becomes support once it is confirmed. No confirmation yet, price simply got pushed slightly above the 23.6 Retracement by news late friday and hovers around it, which explains the close. We need to wait and see what: - Asia does - London Open does Until then, it is too early to make any predictions and I rather wait if this Minor Resistance can become Minor Support. If it does, I scalp it up towards the Supply (until I see the Pending Sell Orders on the DOM) Sure we had strong bullish momentum (news driven), but I'd still be very...
- #27,604
- Jul 8, 2018 6:24am Jul 8, 2018 6:24am
{quote} Resistance becomes support once it is confirmed. No confirmation yet, price simply got pushed slightly above the 23.6 Retracement by news late friday and hovers around it, which explains the close. We need to wait and see what: - Asia does - London Open does Until then, it is too early to make any predictions and I rather wait if this Minor Resistance can become Minor Support. If it does, I scalp it up towards the Supply (until I see the Pending Sell Orders on the DOM) Sure we had strong bullish momentum (news driven), but I'd still be very...
- #27,605
- Jul 8, 2018 6:30am Jul 8, 2018 6:30am
- Joined Feb 2017 | Status: pippin' | 1,139 Posts
{quote} I have said i hope (wich it means to wait) i agree with everything Teek
We could speculate on the confirmation, with good reason, if we believe in a followup to the thursday/friday bullish momentum,
but as a pricetrader I can not trade "speculate / believe".
I also tend to ignore words like "hope" when it comes to trading. (bigtime, I hate it, I get bloodpressure when I hear it, freaks me out)
Price will tell, and price will demand the actions that we need to take, as usual
{quote} My view: its go up to 38 fibo, then drop back
Candles light the path in the darkness
you are not expected to understand this
- #27,608
- Jul 8, 2018 10:01am Jul 8, 2018 10:01am
- Joined Sep 2017 | Status: Trader | 4,360 Posts
Hi Guys,
Whether we use words " I hope, it will or it should get there" is all speculative. At the end of it all, we do not know where price will go...No one does, yeah We all trade our trades. Ultimately I congratulate all who contribute here. There is no right or wrong in forex. Yes we trade our edges, but it does go wrong from time to time. We are all speculators because we think price should go to a certain point..If it doesn't, well we get it wrong. As simple as that. I look at forecasts from famous traders and believe me they get it wrong. The most important factor here is money management and your own stress tolerance. Can you get yourself out of shit by not taking stops?. Can you get yourself out of shit taking too many stops in a row? Can you get get yourself out of shit by taking high leverage trades. The buck stops with you and at the end it is all up to the individual.
I look forward to the new week.
Happy trading
Whether we use words " I hope, it will or it should get there" is all speculative. At the end of it all, we do not know where price will go...No one does, yeah
We all trade our trades. Ultimately I congratulate all who contribute here. There is no right or wrong in forex. Yes we trade our edges, but it does go wrong from time to time. We are all speculators because we think price should go to a certain point..If it doesn't, well we get it wrong. As simple as that. I look at forecasts from famous traders and believe me they get it wrong. The most important factor here is money management and your own stress tolerance. Can you get yourself out of shit by not taking stops?. Can you get yourself out of shit taking too many stops in a row? Can you get get yourself out of shit by taking high leverage trades. The buck stops with you and at the end it is all up to the individual.I look forward to the new week.
Happy trading
Trade to trade another day
- #27,609
- Jul 8, 2018 12:42pm Jul 8, 2018 12:42pm
- Joined Dec 2017 | Status: Trader | 30,688 Posts
{quote} @moty's assessments were often accurate and well founded. I would like to encourage him to continue to publish here because I participate in it.
.have you seen what happened here? I just threw a word, and I got hammered here
From all directions, I did not even understand where it came from.
They do not understand that right now I'm with $ 110 in the account, and I'd rather stay at 0.2 lbs and if the price goes to 1.17200 or even 1.1690 I'm going back to the money rather than going in and out and earning a double-piped leverage of 0.1.
So I said hope, wow big deal.
It is not that I pray for a miracle, but rather a logical move that happens at a high frequency, Pull Back, to an area who was a resistance and maybe became support
yes yes yes
- #27,610
- Jul 8, 2018 12:52pm Jul 8, 2018 12:52pm
- Joined Feb 2017 | Status: pippin' | 1,139 Posts
you are not expected to understand this
- #27,611
- Jul 8, 2018 1:24pm Jul 8, 2018 1:24pm
- Joined Jan 2012 | Status: Trader | 1,862 Posts
{quote} Isabella, thanks for your support
- #27,612
- Jul 8, 2018 3:49pm Jul 8, 2018 3:49pm
- Joined Aug 2012 | Status: Fundamental & Technical Analyst | 1,910 Posts
Week Update :
Fundamental:
Trade tensions between the US and China will likely continue weighing on market's mood this upcoming week, as the macroeconomic calendar will be lighter, with only German and US inflation outstanding. On Monday, German Trade Balance and the EU Sentix Confidence Index for July, are the only relevant scheduled news.
Technical
The longer term perspective shows that the latest recovery remains corrective, as it barely surpassed the 23.6% retracement of its April/May slump at around 1.1720, now the immediate support, imo. The advance could continue according to readings in the daily chart, as the price also settled above its 20 DMA, while technical indicators maintain a strong upward momentum within positive levels. In the 4 hours chart, the pair is also biased higher despite partially losing its upward momentum at the end of the week, as technical indicators flattened near overbought readings, but the price ended above all of its moving averages, and with the 20 SMA maintaining its bullish slope after crossing above the larger ones. The upward potential will fade on a break below 1.1720 while additional gains should be expected on an advance beyond 1.1767, Friday's high, with scope then to extend its advance up to 1.1855, the 38.2% retracement of the mentioned slide and where the pair found a top, post-central banks.
Best wishes for the new week my friends. Hope all will end green
Fundamental:
Trade tensions between the US and China will likely continue weighing on market's mood this upcoming week, as the macroeconomic calendar will be lighter, with only German and US inflation outstanding. On Monday, German Trade Balance and the EU Sentix Confidence Index for July, are the only relevant scheduled news.
Technical
The longer term perspective shows that the latest recovery remains corrective, as it barely surpassed the 23.6% retracement of its April/May slump at around 1.1720, now the immediate support, imo. The advance could continue according to readings in the daily chart, as the price also settled above its 20 DMA, while technical indicators maintain a strong upward momentum within positive levels. In the 4 hours chart, the pair is also biased higher despite partially losing its upward momentum at the end of the week, as technical indicators flattened near overbought readings, but the price ended above all of its moving averages, and with the 20 SMA maintaining its bullish slope after crossing above the larger ones. The upward potential will fade on a break below 1.1720 while additional gains should be expected on an advance beyond 1.1767, Friday's high, with scope then to extend its advance up to 1.1855, the 38.2% retracement of the mentioned slide and where the pair found a top, post-central banks.
Best wishes for the new week my friends. Hope all will end green
Trades technical moves enforced by fundamentals
- #27,613
- Jul 8, 2018 3:56pm Jul 8, 2018 3:56pm
- Joined Oct 2017 | Status: Follow the Order Flow! | 1,073 Posts
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
- #27,616
- Jul 8, 2018 5:58pm Jul 8, 2018 5:58pm
- Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,046 Posts
- #27,618
- Jul 8, 2018 6:57pm Jul 8, 2018 6:57pm
- Joined Aug 2017 | Status: Just a little Aussi Battler | 4,569 Posts
{quote} Resistance becomes support once it is confirmed. No confirmation yet, price simply got pushed slightly above the 23.6 Retracement by news late friday and hovers around it, which explains the close. We need to wait and see what: - Asia does - London Open does Until then, it is too early to make any predictions and I rather wait if this Minor Resistance can become Minor Support. If it does, I scalp it up towards the Supply (until I see the Pending Sell Orders on the DOM) Sure we had strong bullish momentum (news driven), but I'd still be very...
I agree as well Teek with the view of the 38% fib area if broken then we could see a serious bullish reversal take hold
cheers
- #27,619
- Jul 8, 2018 9:47pm Jul 8, 2018 9:47pm
- Joined Jun 2013 | Status: enjoying life | 23,845 Posts | Online Now
{quote} I agree as well Teek with the view of the 38% fib area if broken then we could see a serious bullish reversal take hold cheers
