Focus only on what truly matters!
- #101,461
- Jan 26, 2020 1:10pm Jan 26, 2020 1:10pm
- Joined May 2014 | Status: Full Time Trader | 27,132 Posts
- #101,462
- Jan 26, 2020 7:22pm Jan 26, 2020 7:22pm
- Joined Mar 2012 | Status: Trader | 1,983 Posts
{quote} Not a topic of this thread.. China (Asia) as a whole is not a topic of this thread either.. Stay Green
My ideas for the week/2 weeks - something like this maybe? 1d chart
Probably one other thing to point out, we've had 4 straight weeks of bearish bars, the last time this happened / there was this many, was around April-May of 2018, when the big fall from 1.25 to 1.17 came. The weekly does look super bearish, however the size of the bars hasn't been even close to the 2018, although you could argue in general weekly ATR has been muted since 2018.
Anyway, point there is, EU could be ripe for a correction, or it could collapse much further towards 1.08.
- View Post
- Disliked by Thread Starter
- View Post
- Disliked by Thread Starter
- #101,470
- Jan 27, 2020 1:31am Jan 27, 2020 1:31am
- | Joined Feb 2018 | Status: Trader | 1,276 Posts
Unfortunately Corona virus had a negative effect on the US Stock market this past Friday, 1-24-2020, disrupting normal market transactions. No great stretch to say Corona virus could do the same to the FOREX market, especially if the number of confirmed cases keeps rising.
- #101,471
- Jan 27, 2020 2:03am Jan 27, 2020 2:03am
Hi everyone ... I hope we have a profitable week.
Given the support level : FIB RET : 78.6 % in H4, we can expect an uptrend. Which we will decide later on, whether or not the process is corrective.This support level is at the bottom Tline on H1 and has made this view stronger.We can now enter a good entry point into TF M15 when space is at TF M5.
Overall we are likely to climb this week unless the downside pushes.
Given the support level : FIB RET : 78.6 % in H4, we can expect an uptrend. Which we will decide later on, whether or not the process is corrective.This support level is at the bottom Tline on H1 and has made this view stronger.We can now enter a good entry point into TF M15 when space is at TF M5.
Overall we are likely to climb this week unless the downside pushes.
- #101,473
- Jan 27, 2020 3:05am Jan 27, 2020 3:05am
- Joined Aug 2018 | Status: Joyful and Proud | 2,001 Posts
Risk Management is of utmost importance!
- #101,475
- Jan 27, 2020 5:33am Jan 27, 2020 5:33am
- | Joined Jun 2019 | Status: on vacation | 1,726 Posts
- #101,477
- Jan 27, 2020 9:02am Jan 27, 2020 9:02am
- Joined May 2014 | Status: Full Time Trader | 27,132 Posts
Daily S/R Levels for -->TUESDAY<--
Today, so far my weekly level 1.10175 has supported bulls well. As shown on chart below, tomorrow this support level will slightly shift down to 1.1006.. So I marked a roughly support area between 1.1006/21 for Tuesday. If this area holds it will be good chance for bulls to recover. If not, our bear trend will probably continue towards 1.0950 levels.
I hope it helps..
Stay Green
Today, so far my weekly level 1.10175 has supported bulls well. As shown on chart below, tomorrow this support level will slightly shift down to 1.1006.. So I marked a roughly support area between 1.1006/21 for Tuesday. If this area holds it will be good chance for bulls to recover. If not, our bear trend will probably continue towards 1.0950 levels.
I hope it helps..
Stay Green
Focus only on what truly matters!
- #101,479
- Jan 27, 2020 9:35am Jan 27, 2020 9:35am
- Joined May 2011 | Status: Trader | 1,577 Posts
Missed my short order by a few pips.
Looks like a M pattern inside a larger W. I see this as indecision and/or rangebound.
I have orders to sell 1.1038, also buy orders at 1.10980.
Ecclesiastes 1:9