With 88% of MyFxBook being short, there is no way this thing is going down without a shake-off first {image}
- #89,721
- Jun 21, 2019 12:43pm Jun 21, 2019 12:43pm
- | Joined Feb 2018 | Status: Trader | 1,276 Posts
- #89,722
- Jun 21, 2019 12:44pm Jun 21, 2019 12:44pm
{quote} bulls inflicting maximum pain , they have the upper hand and they would be stupid to stop, only retails, scalpers and unaware hands are trying to fade the move, fighting FED's shift. Smart money (Investment banks, Hedge funds) is loaded to the upside from the lows.
Appreciate your insight!
{quote} where do you get thisindicator? nrxt time we must folow only FiboGroup
https://fxssi.com/tools/current-ratio
Pension fund Return This Month:
2.2%
- #89,723
- Edited 12:59pm Jun 21, 2019 12:47pm | Edited 12:59pm
- Joined Sep 2017 | Status: Trader | 4,360 Posts
Trade to trade another day
- #89,725
- Edited 1:17pm Jun 21, 2019 12:54pm | Edited 1:17pm
EURUSD is top performing pair now: {image}
Big picture in dollar on D1 :
I know you guys in the thread are more daytraders and scalpers than "swingers" but one should wait imo the bottom of the range in DXY before jumping the gun.
At least if 1.13479 and 96.46 are broken on the close today.
- #89,727
- Jun 21, 2019 1:21pm Jun 21, 2019 1:21pm
- | Joined Feb 2018 | Status: Trader | 1,276 Posts
looking to open short next new high formed, ideally 1.1380 retracement a must and positive swapamazing day all around, made even more on gbp usd ))) wow every pair follows usd x !!!!!
- #89,729
- Jun 21, 2019 1:33pm Jun 21, 2019 1:33pm
- Joined May 2013 | Status: Trader | 1,457 Posts
Neither a Bro Nor a Pro I am I
- #89,730
- Jun 21, 2019 1:36pm Jun 21, 2019 1:36pm
- | Joined Feb 2018 | Status: Trader | 1,276 Posts
this long happend because Trump,threating with war to iran.
i dont sugesst any body to hold position open on weekend,trump can push the button.
i dont sugesst any body to hold position open on weekend,trump can push the button.
- #89,731
- Jun 21, 2019 2:02pm Jun 21, 2019 2:02pm
- Joined May 2013 | Status: Trader | 1,457 Posts
this long happend because Trump,threating with war to iran. i dont sugesst any body to hold position open on weekend,trump can push the button.
Neither a Bro Nor a Pro I am I
- #89,732
- Edited 2:55pm Jun 21, 2019 2:04pm | Edited 2:55pm
As a small wrap up for the week :
Draghi was so vocal last tuesday whereas there was nothing new since last meeting, that was a strong (and another) hint that something was cooking behind the scenes on FED's side. He short circuit even the other members and tried to corner next ECB's president (Draghi's term ends in October)
From now onwards, it's guarantee ECB will play low profile (more than ever) to try to offset FED's shift.
But that's a lost battle as FED has far more margin to ease but sure they will try but that will give only the ebb and flow while FED on the cut path will be the rain maker and will set the trend.
In any case, ST swing panned out flawlessly :
=> the initial leg from the lows 1.114x, after last month's awful PMI :
=> ... to the break up hinting a retrace :
==> before riding the impulsive leg with FED's shift fact :
Last target of ST swing 1.144x looks more than cooked now but the real deal for the rest of the year will be the break up of the MT range as it will unlock, TA wise , the MT Top 1.191x (level that will be also unlocked FA wise if we have a 75bp cut in 2019 (guarantee imo if no US/China deal)) with extrem/magic level at 1.215x :
Not much to say and do for swing traders now at these levels, just let markets play the ball
.
Draghi was so vocal last tuesday whereas there was nothing new since last meeting, that was a strong (and another) hint that something was cooking behind the scenes on FED's side. He short circuit even the other members and tried to corner next ECB's president (Draghi's term ends in October)
From now onwards, it's guarantee ECB will play low profile (more than ever) to try to offset FED's shift.
But that's a lost battle as FED has far more margin to ease but sure they will try but that will give only the ebb and flow while FED on the cut path will be the rain maker and will set the trend.
In any case, ST swing panned out flawlessly :
=> the initial leg from the lows 1.114x, after last month's awful PMI :
{quote} Besides the MT swing in EU to 1.191x, betting now on a ST swing via smart money smelling the change and riding US Macro data flip expectations (all driven by WW slowdown triggered by DT trade war I (Jan 2018) and II (May 2019)) ==> 1.122x ==> 1.131x => 1.144x ...
{quote} Done, bulls held 1.13239. TA is now aligned with FA changes : we have a reversal on D1Meaning : => we have unlocked the range above, especially a test of 1.144x where Key MT reversal trigger sits (cf. W1 chart). => But more important, with this reversal, we have now a confirmed ST bottom. Meaning, we can buy serenely any retrace. Retraces often happen after a reversal is triggered, but one should look for places where to load longs instead of trying to ride that potential retrace...
thoughts for upcoming FOMC (already posted in the other EURUSD thread, why 2 EURUSD threads in FF btw ?) On the Fundamental side : Inflation in the US remains low : YoY Core PCE Price Index (FED's preferred measure of inflation) is at 1.6%, well below FED's target (2%). As important, survey-based measures of LT inflation expectations keep falling. On the employment front, unemployment rate remains low. However last pay roll employment showed little changes and prior month's release was revised down. Business early indicators keep falling (Business...
Last target of ST swing 1.144x looks more than cooked now but the real deal for the rest of the year will be the break up of the MT range as it will unlock, TA wise , the MT Top 1.191x (level that will be also unlocked FA wise if we have a 75bp cut in 2019 (guarantee imo if no US/China deal)) with extrem/magic level at 1.215x :
Not much to say and do for swing traders now at these levels, just let markets play the ball
.
- #89,733
- Edited 2:28pm Jun 21, 2019 2:18pm | Edited 2:28pm
- | Joined Jun 2019 | Status: on vacation | 1,726 Posts
this long happend because Trump,threating with war to iran. i dont sugesst any body to hold position open on weekend,trump can push the button.
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- #89,740
- Jun 21, 2019 2:57pm Jun 21, 2019 2:57pm
- Joined Sep 2017 | Status: Trader | 4,360 Posts
Trade to trade another day