Pension fund Return This Month:
2.2%
- #93,562
- Aug 15, 2019 12:16pm Aug 15, 2019 12:16pm
- Joined Sep 2015 | Status: ob-la-di, ob-la-da, life goes on... | 4,499 Posts
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
- #93,564
- Aug 15, 2019 12:45pm Aug 15, 2019 12:45pm
- Joined Aug 2009 | Status: Reading the TAPE | 2,389 Posts
Wednesday's interval (1) is key. It was a narrow range (H-L) interval on increasing volume that closed well of its high and below its midpoint. This is a Squat and is demonstrative of Supply. The weakness is confirmed when Thursday's interval closes DOWN.
Friday is a very weak bar in its own right. Let's take a look. The range is very narrow, the close is off of the high and below the midpoint, and the volume is not only less than the previous two intervals, but it is less than average. This is No Demand (ND).
Friday coupled with Wednesday, therefore, hint that the Market may actually be more weak than strong. Hopefully, you utilized last Sunday/Monday's WRB to enter on the open and take partial profits on the close. We do need confirmation (with the next candle DOWN) for Friday's No Demand with Sunday/Monday's interval closing DOWN. But if you haven't yet gotten your stop to break even, it's time to do so.
Now we would like to see it fall back into the Supply/Demand Zone and give us another Long signal.
Kudos to those who saw the weakness and acted accordingly.
Without VSA, you're playing checkers while the Smart Money plays chess.
- #93,565
- Aug 15, 2019 12:50pm Aug 15, 2019 12:50pm
- Joined Aug 2018 | Status: Trader | 2,611 Posts
Only an idiot knows with certainty to where the market is going.
- #93,566
- Aug 15, 2019 1:01pm Aug 15, 2019 1:01pm
- Joined Jun 2018 | Status: An ordinary brother | 4,595 Posts
- #93,570
- Aug 15, 2019 2:10pm Aug 15, 2019 2:10pm
- Joined Jun 2018 | Status: An ordinary brother | 4,595 Posts
Algo bot is still short month week and for Friday.
Everything is panning out as forecast and there is no real tech support anywhere on Euro until the whales are back off vacation and they decide a change of market direction in September. That said i'm not losing sight of the fact the yellow line is the decades long month support line which is now tested, bounced and truly busted and signals the end of the euro empire.
I just wonder how many times others have said with tech and EW counts have put each one of these low spikes as the "5th final low"
Everything is panning out as forecast and there is no real tech support anywhere on Euro until the whales are back off vacation and they decide a change of market direction in September. That said i'm not losing sight of the fact the yellow line is the decades long month support line which is now tested, bounced and truly busted and signals the end of the euro empire.I just wonder how many times others have said with tech and EW counts have put each one of these low spikes as the "5th final low"
- #93,574
- Aug 15, 2019 7:22pm Aug 15, 2019 7:22pm
Hello EU Gang, I will like to think EU is baked for 1.09250 but this is me 'Thinking' With the big number above, I will be looking for SHORTS only.. Will hunt for a high to place a Sell stay well gang
I had the pleasure to load my train @ 1.1222 with a target of 1.1088. The move yesterday stopped tiny 2 pips short of that and hence, I am still holding them.My indicators - even though not very sophisticated but not that incorrect - in particular the weekly telling me that the bear party might go on for another week or two and I have at least 1.1022+- if not 1.0960+- in my cross-hairs.
- #93,576
- Aug 15, 2019 10:36pm Aug 15, 2019 10:36pm
- Joined Sep 2016 | Status: TMT Scalping... | 2,408 Posts
starting the day slow with some quick scalps.
Short on EU
Short on EU
TMT Scalping System (Best system on FF)
- #93,577
- Aug 16, 2019 12:07am Aug 16, 2019 12:07am
- Joined May 2016 | Status: Clueless | 6,896 Posts
{quote} Well, I have to admit that I am in your camp.
Should we close below last weekly candle, I think the party will be full of beers only
- #93,578
- Aug 16, 2019 1:50am Aug 16, 2019 1:50am
{quote} I have to agree.. Should we close below last weekly candle, I think the party will be full of beers only
We closed yesterday below 26th April, 23rd May and 30th May but not the 25th July low. That doesn’t look very bullish.
But I will take some off the table around 1.1022+-. The rest I might let them stay to go lower. Also daily slow stoch is not finish as seen. In the weekly it's even more clear.
- #93,579
- Edited 2:35am Aug 16, 2019 2:03am | Edited 2:35am
In general, I think someone has to be wise in putting the technical action in to the right perspective with the fundamentals (I know Ata likes to stay purely technical here).
The technicals are like the tactics in the battlefield and the fundamentals like the strategy. Both have to be considered in unity and as Sun Tzu says - Tactics without strategy is the noise before defeat.
And so for me, the fundamentals are main driver for the trend whereas the technicals are the result of the profis, big sharks and whales (and I agree the market in total) finding the best execution places for their plan by using various models.
What means this for the EUR?
Someone should have noticed the worsening data throughout the EU and in particular Germany. And now Super Mario, before handing over to Madam Christine, has to show “whatever it takes” for a Man (I guess he is one ). And for doing this he becomes more and more support from various fronts within Europe. Further, the inverting curve in the US is shortening the dollar liquidity dramatically.
Everyone who hopes that the EUR will go to 1.13 - 1.14+ in this environment will be set up for big disappointment.
In such dominant background some technicals (under the weight of the underlying fundamentals) do not play out. This was clearly to see on the end of last and beginning of this week when the bull flag didn’t break up (wards) as expected. That does not mean that there will be no retracements, there will. But these flips will be no more than 160+- pips.
I feel that this can be noticed best in the weekly Stochastic and the changed trend channel (in my chart before) since 25th June hence, I see a real possibility for 1.0950+- or even 1.0810+-.
The technicals are like the tactics in the battlefield and the fundamentals like the strategy. Both have to be considered in unity and as Sun Tzu says - Tactics without strategy is the noise before defeat.
And so for me, the fundamentals are main driver for the trend whereas the technicals are the result of the profis, big sharks and whales (and I agree the market in total) finding the best execution places for their plan by using various models.
What means this for the EUR?
Someone should have noticed the worsening data throughout the EU and in particular Germany. And now Super Mario, before handing over to Madam Christine, has to show “whatever it takes” for a Man
(I guess he is one ). And for doing this he becomes more and more support from various fronts within Europe. Further, the inverting curve in the US is shortening the dollar liquidity dramatically.Everyone who hopes that the EUR will go to 1.13 - 1.14+ in this environment will be set up for big disappointment.
In such dominant background some technicals (under the weight of the underlying fundamentals) do not play out. This was clearly to see on the end of last and beginning of this week when the bull flag didn’t break up (wards) as expected. That does not mean that there will be no retracements, there will. But these flips will be no more than 160+- pips.
I feel that this can be noticed best in the weekly Stochastic and the changed trend channel (in my chart before) since 25th June hence, I see a real possibility for 1.0950+- or even 1.0810+-.