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  • #55,861
  • Oct 26, 2018 6:11am Oct 26, 2018 6:11am
Wave wise I would say we started minor wave 3 and intermediate (C). This means a lot more downside to come.

1.1299x is the next support to keep an eye on...

Grtz
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What's that smell? ---- I smell money!
  • #55,862
  • Oct 26, 2018 6:12am Oct 26, 2018 6:12am
Quoting SnaveForex
{quote} Currently roadblocks that may act as support 1337 1320 1300 1298. There is actually a floor at 1247- 1229 after some recalculation. May be wrong. Let's see if news will be a catalyst to speed up reactions.
Long term there is where i potentially see. This weekly close is key now and may be the driver.

Meanwhile looking for potential bigs to counter lower significant bull play on the hourly. I will not rush as in order for a bounce to playout a bull needs to be packing steam and acculumate.
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  • #55,863
  • Oct 26, 2018 6:15am Oct 26, 2018 6:15am
its bad you know

Inserted Video
buy the rumor,sell the news
  • #55,864
  • Oct 26, 2018 6:17am Oct 26, 2018 6:17am
EU
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Self discipline It is a practice
  • #55,865
  • Oct 26, 2018 6:19am Oct 26, 2018 6:19am
Quoting post
Good Morning, Original short for TP2 target still ruining, no new positions until US GDP data. I might close short and switch to buy if RED data comes in & EU started move higher above 1.14 for typical Friday move. (short term) Long term View: Bearish ( Means sell at swing high) Pending buy order in case of price fall 1301, SL:20 pips, TP: Open (Short Term) Happy Trading.

ok Booked my TP2 at 1.1339 with 70+ pips. Reason: NY session approaching, RED US data EU could fly short term. Buy order still active(only valid for today=Hope for Green US data)

Happy Trading.
Trades technical moves enforced by fundamentals
  • #55,866
  • Oct 26, 2018 6:21am Oct 26, 2018 6:21am
H1-M15 Status Update

Longs might work from fib 161.8: 1.1338 but I wait until I see a clear close above dashed RED Trendlines on M15 or H1. 1.1358/67 is critical nearest resistance now on H1.

Stay Green
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Focus only on what truly matters!
  • #55,867
  • Oct 26, 2018 6:29am Oct 26, 2018 6:29am
Earlier today, FOMC member Clarida's speech pretty much said they are still on track with the rate hike and sees the US economy as steady, mentioned being accommodative quite a bit, pretty much saying what Powell said.

As long as GDP isn't too much lower than forecast it should move the eur/usd further down to test 1.330 levels. If GDP is much lower than forecast this COULD put the DEC rate hike at risk bc of their accommodative stance, but so far they've been quite confident that DEC rate hike will happen and everything is on course.

After GDP news release there are only 8.5 more hours of trading time? then Draghi speech an hour half later. At a technical standpoint i feel after hitting 1.330 or 1.325 there will need to be a retracement to 1.34 to 1.36 at most to close the week. another scenario is we go straight to 1.310's and then a retracement to 1.330 to close the week. not expecting any bullish trend change but we shall see

currently 1.340 just hit
I don't expect any significant retracement, at most it could retest 1.355 until news release, then beware of traps when news released! Im still bearish bias until 1.330's
You win or you learn
  • #55,868
  • Oct 26, 2018 6:32am Oct 26, 2018 6:32am
i got plenty of margin to weather this storm since ive closed out some of my losers earlier.. i dont want to close everything out this close to a potential double bottom on daily...what pisses me off is all the time ive wasted that ill never get back sitting on these longs and now having to babysit and manage them to keep losses to minimum when the reversal happens
buy the rumor,sell the news
  • #55,869
  • Oct 26, 2018 6:33am Oct 26, 2018 6:33am
Looks like a 5min bottom forming?
  • #55,870
  • Oct 26, 2018 6:33am Oct 26, 2018 6:33am
Quoting wasntme
i got plenty of margin to weather this storm since ive closed out some of my losers earlier.. i dont want to close everything out this close to a potential double bottom on daily...what pisses me off is all the time ive wasted sitting on these longs and now having to babysit and manage them to keep losses to minimum when the reversal happens that ill never get back.
Live to fight another day bro.. How many pips worth of swap have you had to pay holding out so long
You hesitate, you masturbate.
  • #55,871
  • Oct 26, 2018 6:35am Oct 26, 2018 6:35am
hum...everything seems to point to 1.1300 first then 100+ pips retracement
question is...will we get to 1.1300 with GDP then we retrace or we slowly do it in the next hour...then GDP propels us up
and then there is Mr Draghi....so GDP down to 1.1300 then Draghi takes us up?
so many scenarios...so many possibilities lol
let's just be nimble in new positions...keep tight SLs for the old ones, and finish the week's rodeo on top!!
  • #55,872
  • Oct 26, 2018 6:36am Oct 26, 2018 6:36am
Im back... And long from the TL..tp 1460 next week...sl below 1320..
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  • #55,873
  • Oct 26, 2018 6:36am Oct 26, 2018 6:36am
Quoting kayikayi
hum...everything seems to point to 1.1300 first then 100+ pips retracement question is...will we get to 1.1300 with GDP then we retrace or we slowly do it in the next hour...then GDP propels us up and then there is Mr Draghi....so GDP down to 1.1300 then Draghi takes us up? so many scenarios...so many possibilities lol let's just be nimble in new positions...keep tight SLs for the old ones, and finish the week's rodeo on top!!
I expect GDP takes us down then Draghi takes us up, but its more GDP takes us down then technicals take us up haha

edit: maybe Draghi takes us down even further and technicals get sidelined
You win or you learn
  • #55,874
  • Oct 26, 2018 6:38am Oct 26, 2018 6:38am
M5 short @ 1.1346
M15 trail frame
in wondering about yourself, you forgot what you came here to be part of
  • #55,875
  • Oct 26, 2018 6:40am Oct 26, 2018 6:40am
I'm pretty sure good GDP figures are already expected and that has definitely been a factor in this drop.

If anything, it is more likely that good figure will cause eu reversal, which happens quite frequently.
  • #55,876
  • Oct 26, 2018 6:40am Oct 26, 2018 6:40am
1.33x touched!!! we touched it!
You win or you learn
  • #55,877
  • Oct 26, 2018 6:41am Oct 26, 2018 6:41am
Break S2 Day, moved S/L To 1.1350x.
Locked in 50.

Grtz
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What's that smell? ---- I smell money!
  • #55,878
  • Oct 26, 2018 6:42am Oct 26, 2018 6:42am
Quoting Starcraftmaz
I'm pretty sure good GDP figures are already expected and that has definitely been a factor in this drop. If anything, it is more likely that good figure will cause eu reversal, which happens quite frequently.
hmm, looking for longs?
You win or you learn
  • #55,879
  • Oct 26, 2018 6:43am Oct 26, 2018 6:43am
eng...i dont know i stopped adding them up but its 3 weeks since i started legging in buying...i dont like looking at my p/l or doing excel type analysis so i dont freak out LOL...ive been in the money 3- 4 times the last time in the spike up on 10-22 4h candle but that just reconfirmed my belief we'll revisit my orphaned long signal up in the 1700s so my greed took over....we'll still see it thats why im manageing my losses so they dont pull me under
buy the rumor,sell the news
  • #55,880
  • Oct 26, 2018 6:44am Oct 26, 2018 6:44am
Quoting engweijie
Damn... Wish my shorts didn't get stopped out (1.13804 and 1.13746 both stopped at +1 lol) but as per my original plan, just bought 1.13516 and 1.13467. SL at 1.1339 but will move to BE as soon as I have the chance. This area seems like the last significant support before 1.1300.
Did you get out of those longs? I'm also looking for buys but way lower than here.Ahem! Did you see MBrown? He owes me cookies for predicting 1.1350. Lol
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