EURUSD only

SL moved to 1.1625, 2 pips locked no stress

And Euro M5 ...

New Buy Order: 1.1611
SL: 18 pips
TP: Open (Will trail)

Stay Green

I admit, mightve jumped the gun here. Asia will probably set the reversal. Got out for a 12 pip loss on the retrace. Hopefully a better setup during/after asia

pa in immediate past, or just choppy!sitting idle & fun only ! fontu

Where did you see a bull bounce? Have you been trapped/possessed by your bias?

no trades open today should have grabbed a short at 1630 oh well

Good. I'm in the Same principle. Already kept 2std buys.

Lets see

It has given the bears pause, regardless. And it may yet prove to be the pivotal point of a full fledged bull bounce.

Where did you see a "bears' pause"? Did it a weekly or daily close above 1.1750? Or you speak about 5-min chart? It can easily drop to 1.1500 when all weak buys are absorbed by MM. The first principle in trading "Don't try to catch a falling knife".

Agree

I wouldnt buy this...
Daily is completely screwed for bulls.
Just mt 2c.

I think it will play the range of +-1.1610 and +-1.1620 for today. It tried the break out below, but wasn't strong enough. If it break out below, the next target is 1.1591 and 1.1574 after that, while the next major up target is quite far away imo, at around 1.1740.
I think a long position with SL at 1.1600 could be a potentially good risk / reward setup. Will observe what will happen =]

Tomorrow and Medium Term

I know you all are mostly technicians, with many charts, and multiple strategies. It seems like tomorrow consensus is "we will likely break out of the triangle". I am definitely a fundamentalist, and I have been a trader for over 30 years (bonds mostly). This is my medium term (1 month to 2 months) strategy:

If the EUR/USD breaks hard higher up toward 1.2200 or so, for the most part the rest of the financial world would be "relatively peaceful". My trading strategy is going to be normal.

If the EUR/USD breaks hard lower down toward 1.1000 or so, that is where we start to have problems. We will have the beginnings of total chaos. From 1.1300 down every 100 pips of dollar strengthening will put extreme pressure on the financial world. For that reason, I am always going to error buying weakness because I believe if we do trade down to those levels, we wont be there long.

For those of you old enough, 1998 was a rough year for emerging markets. I started trading in 1987 right before the October crash. The difference today compared to back then is the debt. There is so much debt in the world that the system cant handle an extremely stronger dollar. The dow in 1987 was 2100 and fell 500 points. I envision the same type of scenario in stocks if dollar breaks higher, only difference now is down 25% is about 6000 dow points in a day.

I am hearing many conspiracy type rumors saying that a tight fed right now is "intentional" because it is a way for Republicans to lose elections in fall because we will have a 30-50% stock market crash. I have no idea if they are legitimate or not. It is amazing how different our bond yields are compared to the rest of the world. Lets see what happens if the dollar gets strong and stocks are down 30%. The FED will likely talk differently.

My point for all of this is mentally I am a buyer on weakness over the coming weeks. I know how much the admin wants and needs a lower dollar. We might see some intentional tape bombs from the Admin trying to talk dollar down.

Thanks to all of you technicians. I am old school trader, but always a mid novice technician...I really appreciate this forum ATA...sorry to ramble

Anyways good luck to all of you tomorow. As ATA says, stay green

Being a Man is awesome!

Don't ever apologize for having a penis.

Now back to the charts.

1.16024-1.16070 still holding

See where the day closes , Daily definitely looking sick and as all the levels above this one is slowly losing , but the day aint over yet . was some buying around the trend line area , just popped it to the last area taken out ,,, working on the last low atm , probably not a good day to poke the bear with a stick, time will tell

nfp tomorrow. they usually park it til the news.

no volume at the low, meaning no heavy buyers. tomorrow is nfp. price not going anywhere today, imo.

Ah on a breakout the volume wont show till it wants to stop dropping