Unless you're on a small time, in the last 24 hours this chart has done nothing but chew up time and frustrate both longs and shorts. The trader having the most fun is the market maker.
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- #100,742
- Edited 5:53am Jan 16, 2020 5:34am | Edited 5:53am
- Joined Aug 2017 | Status: Just a little Aussi Battler | 4,569 Posts
It is what we all make of it my friend. The Daily life of Brian. for all to see, Now let's stop being pucken stupid and get back to trading please {image}
I would expect a low of 1.11550/542 being the 50% fib area in the hourly chart,
as a possible bottom before the new york session opens, IMHO
- #100,743
- Jan 16, 2020 5:44am Jan 16, 2020 5:44am
- Joined May 2014 | Status: Full Time Trader | 27,132 Posts | Online Now
{quote} ... It would be too blindly to use 5 min chart to decide direction, to me too!
I hope it clarifies and I also hope it can be food for brains for some of the newbies here.. We better continue to post around EURUSD.. Thanks
Stay Green
Focus only on what truly matters!
- #100,745
- Jan 16, 2020 5:54am Jan 16, 2020 5:54am
- Joined May 2011 | Status: Trader | 1,265 Posts
'Fail to plan, plan to fail'
{quote} Again, I have to interfere because the concept of "smaller timeframes don't show direction" is simply not true. But it depends on how you use some of the indicators. On the image below I quickly explained. Once you get the logic you will realize that it is actually possible to see larger timeframe conditions directly via the smaller timeframe chart. I hope it clarifies and I also hope it can be food for brains for some of the newbies here.. We better continue to post around EURUSD.. Thanks
I said before that ATA is my new hero. But that is ... old news - as Ata is in fact my old hero.
Also to each to his own!!! I personally watch mainly the 5M chart because it is the most sensible of them all. If you wath the 15M or 1H chart, when your indicators flash green the move is mostly done and there is no point to put any calls. I took Ata's "simple" system (3 MAs + some other esoteric sh*t - you can call that whatever you want, but it is not simple) and developed my own.
And my system says that the bull run is not over (at 11.54 GMT) and we will have a retest of 1.11630 for the 3rd time.
So as far as I am concerned, 5M rulzzzzzzzzzzzzzzzzzzzzzzzzzz!!!!!!
- #100,748
- Jan 16, 2020 6:18am Jan 16, 2020 6:18am
- | Joined Jun 2019 | Status: on vacation | 1,726 Posts
- #100,749
- Jan 16, 2020 6:35am Jan 16, 2020 6:35am
- Joined May 2014 | Status: Full Time Trader | 27,132 Posts | Online Now
Focus only on what truly matters!
- #100,750
- Jan 16, 2020 6:43am Jan 16, 2020 6:43am
- Joined Jun 2013 | Status: Trader by hobby not by profession | 7,050 Posts
- #100,752
- Jan 16, 2020 6:47am Jan 16, 2020 6:47am
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
I sincerely expect that 1.1163 to be very well breached today to set a new high before the selling will begin. Tonight/Friday may be the sell time. Until then no shorts for me.
- #100,753
- Jan 16, 2020 6:48am Jan 16, 2020 6:48am
- Joined Aug 2017 | Status: Just a little Aussi Battler | 4,569 Posts
even the minutes can't change the trend of the day. if retail sales are good this pair can easily lose 30 pips
No time frame or indicator can do that, being able to pick these moves is what the game is all about IMHO,
- #100,755
- Jan 16, 2020 6:54am Jan 16, 2020 6:54am
- Joined Aug 2017 | Status: Just a little Aussi Battler | 4,569 Posts
{quote} u waiting for sell off to begin you mean Mit?
I would expect it to return to yesterday's high at 1.11634 and retest it again
- #100,756
- Jan 16, 2020 7:08am Jan 16, 2020 7:08am
- Joined Sep 2017 | Status: Trader | 11,251 Posts
{quote} It did break 1.1163 already but the question is will it stay about 1.1163 for the rest of the day or even better for the rest of the week? The answer is nobody knows
- #100,757
- Jan 16, 2020 7:09am Jan 16, 2020 7:09am
- Joined Jun 2013 | Status: Trader by hobby not by profession | 7,050 Posts
{quote} No time frame or indicator can do that, being able to pick these moves is what the game is all about IMHO,
- #100,759
- Jan 16, 2020 7:12am Jan 16, 2020 7:12am
- Joined Jun 2013 | Status: Trader by hobby not by profession | 7,050 Posts
- #100,760
- Jan 16, 2020 7:13am Jan 16, 2020 7:13am
- Joined Aug 2017 | Status: Just a little Aussi Battler | 4,569 Posts
{quote} dollar is being sold across the board. nothing fantastic about this pair. its generally usd selling helping bullish sentiment
The EUR/USD is like a wild stallion just waiting to break free,
And it's chafing at the bit right now,
I dont think it can just yet, but soon, very soon, IMHO
Do you think the USDX can help in a 1 min time frame ??
