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EURUSD

  • #1,162,941
  • Feb 21, 2020 4:16pm Feb 21, 2020 4:16pm
Quoting OhComeOn
Curious if we will hit the weekly pivot at 1.08709 today. Well, guess I will have to find out later, going to TP and call it a week, fine with where it is at. Remember, if you did not make money this week, feel free to ask for help on this thread. There are multiple posters with winning methods/strategies in here who appear willing to share and there is more than one way to trade. Stay green everyone and good luck!
Well looky there, I made a good decision to take my profit and head into the weekend!! Yeah every dog finds a bone some time. Anyhow, these beers are tasting really good and BBQ is almost ready, look forward to this going higher next week. Will probably enter a long early in the week, run it up high and then short. Of course based on my indicators, I am not a fortune teller and have learned to trust my indicators more than the "I think" philosophy. Alright, back to beer drinking!!!!!! See y'all next week. Stay green!
"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #1,162,942
  • Edited 4:51pm Feb 21, 2020 4:20pm | Edited 4:51pm
1. The Daily Candle closed as Bullish Engulfing.

2. The volume for candle 'A' is 84,727, and the volume for Candle 'B' is 82,601. Even though candle 'B' is much larger than candle 'A' but has less volume, I do not consider this to be an anomaly. For the volume bar that corresponds with candle 'B' is higher than that of the volume bar for candle 'A'. This is indicative of strength, but also suggests we are likely to see a retracement before moving higher.

3. The green lines you see are plotted from the 4HR chart. See attached image for 4HR chart. This, to me, is the most likely area price will retrace to (could be less or more) before moving higher (if it moves up higher).

4. The gold lines you see represent the most likely area price will go to if it continues to move up.

Be sure to check out my comment on EUR/USD Sentiment.

Note: I can only tell you what I think might happen based on information from the charts. My analysis is far from perfect. It is not etched in stone but is subject to error, just like any other analysis.

Technical analysts do not deal in absolutes but in probabilities.

This information is for educational purposes only. It is not financial advice.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Analysis a.jpg Size: 99 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Analysis b.jpg Size: 90 KB


Important! USD is starting to show weakness at a critical area of resistance. If USD continues to go down, then we can expect to see EUR/USD go up. Any Forex trader who takes technical analysis seriously will pay attention to what happens on DXY.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Analysis d.jpg Size: 73 KB
Learn from your mistakes and march on.
  • #1,162,943
  • Feb 21, 2020 4:21pm Feb 21, 2020 4:21pm
As it was expected, EURUSD pulled back up. My stop loss was hit, which i moved it down from earlier entry point. Still in good profit. Happy about it. Will check COT reports later and will see what is going on for early next week.
  • #1,162,944
  • Feb 21, 2020 4:52pm Feb 21, 2020 4:52pm
EURUSD on a daily should reach supply zone 1.09xx-1.092x. COT reports shows non-commercial sellers are in favour and more sellers positions are added.
My analysis overall EURUSD is bearish.

DXY my analysis bullish. I will attach COT and chart. COT shows there are still a lot more buyers.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDdaily.png Size: 110 KB
Click to Enlarge Name: EURUSDmonthly.png Size: 99 KB
Click to Enlarge Name: COT1.png Size: 25 KB
Click to Enlarge Name: COTDXY.png Size: 25 KB
Click to Enlarge Name: DXY.png Size: 96 KB
Click to Enlarge Name: DXYdaily.png Size: 82 KB
  • #1,162,945
  • Feb 21, 2020 5:12pm Feb 21, 2020 5:12pm
Quoting Techanalyst
EURUSD on a daily should reach supply zone 1.09xx-1.092x. COT reports shows non-commercial sellers are in favour and more sellers positions are added. My analysis overall EURUSD is bearish. DXY my analysis bullish. I will attach COT and chart. COT shows there are still a lot more buyers. {image} {image} {image} {image} {image} {image}
I also looked at the COT report, and being that this is something new I have added to my analysis, I wasn't sure about whether to give more weight to commercial or non-commercial buyers and sellers.

So basically, what you are saying is more weight should be given to non-commercial buyers and sellers. Is that correct?
Learn from your mistakes and march on.
  • #1,162,946
  • Feb 21, 2020 7:21pm Feb 21, 2020 7:21pm
Quoting here2there
{quote} I also looked at the COT report, and being that this is something new I have added to my analysis, I wasn't sure about whether to give more weight to commercial or non-commercial buyers and sellers. So basically, what you are saying is more weight should be given to non-commercial buyers and sellers. Is that correct?
Non-commercials true, because those are hedges, banks, institutional trading and so on.
  • #1,162,947
  • Feb 21, 2020 7:57pm Feb 21, 2020 7:57pm
Quoting Techanalyst
{quote} Non-commercials true, because those are hedges, banks, institutional trading and so on.
Thanks for clearing that up.
Learn from your mistakes and march on.
  • #1,162,948
  • Feb 21, 2020 10:26pm Feb 21, 2020 10:26pm
After drinking a lot of beer, eating BBQ, and thinking, I have to believe that with China and the virus we will feel the effects in the USA on trade in the next month due to lack of production which will result in decreased imports thus causing reduced sales. I am drunk and it makes sense, will continue to follow indicators, but feel the FED will start to announce interest rate cuts soon. As a what if, this may weaken the dollar due to lack of manufacturing in the USA. As always, I will follow the indicators. Going back to drinking more beer. Just my drunk fundamentals.
"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #1,162,949
  • Feb 22, 2020 4:54am Feb 22, 2020 4:54am
Last Friday , I shorted 10 LOT at 1.0793 .......TP = 1.790 .....missed by 1 pip ......

then later of the day .....shot all way up till 1.0863....
MC at 1.08505 .......

losses == USD5700+ .....


THE Up move really make no sense ....EU data was mix...
US data although bad .....but not this UP move

when CORONAVIRUS bad news hit ,,,,,,,, EU doesnt down so much ....


My acc started at USD600 in FEB
wired back USD4600

At friday , stood at USD6700 .....
After MC , acc == USD1000

scalp more before Friday closed === USD1200


anyway , my take away lesson is ...
1. Reset acc weekly , prefabaly by End of Thursday .
2. Reset start at USD2000 (next week = USD1200 , dun plan to add fresh fund).
3. withdraw all at the end of Thursday ....

Repeat 1-2-3 .....

*Why Thursday ...... becos most of my MC happen at Friday , where illogical big ,move happen that doesnt make sense . and MC already took place .
  • #1,162,950
  • Feb 22, 2020 5:29am Feb 22, 2020 5:29am
Next week's plan.
the indi is 50 sma
Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 19 KB
yes yes yes
  • #1,162,951
  • Feb 22, 2020 9:35pm Feb 22, 2020 9:35pm
https://www.forexfactory.com/showthr...1#post12769601

Care usdx
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,162,952
  • Feb 22, 2020 11:51pm Feb 22, 2020 11:51pm
first trend line broken.

Can be a start of a new uptrend
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 25.png Size: 61 KB
TMT Scalping System (Best system on FF)
  • #1,162,953
  • Feb 23, 2020 7:29am Feb 23, 2020 7:29am
Pullbacks are always expected. Be careful, this could be a fast pullback to get traders to jump on long positions, this can turn more bearish to hunt stop losses. Trade safe.
  • #1,162,954
  • Feb 23, 2020 8:44am Feb 23, 2020 8:44am
DXY and EURUSD Weekly Analysis:

Inserted Video


Inserted Video
Technical Analyst & Trader @ Vikinsa
  • #1,162,955
  • Edited 11:17pm Feb 23, 2020 3:30pm | Edited 11:17pm
Well, as I expected the euto open in the Gap Down towards the 50 sma band.
I deliberately made sure my new deposit will updat after the London open.
I want to be able to go in just for the rising move and not try to catch the retracement as I always do
Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 46 KB
yes yes yes
  • #1,162,956
  • Feb 23, 2020 3:36pm Feb 23, 2020 3:36pm
Quoting Moty
Well, as I expected the euto open in the Gap Down towards the 50 sma band. I deliberately made sure my new deposit will updat after the London open. I want to be able to go in just for the rising move and not try to catch tthe retracement las I always do {image}
I figured this much, too. I mentioned the possibility of such a gap here.

So we are likely going to be moving up as the dollar faces a minor correction.
Learn from your mistakes and march on.
  • #1,162,957
  • Feb 23, 2020 3:49pm Feb 23, 2020 3:49pm
If you are tracking the EURUSD market, consider this technical perspective. Recent price action on the daily time frame is disposed southward and it is respecting a falling trendline (blue). However, presently the momentum is bullish and the bullish candlestick printed on Friday was relatively big, breaking out of the consolidation of Wednesday and Thursday. Technically, we can expect a northward pullback of price action to an area of value before a southward turnaround. One such area of value is the broken down 1.08800/1.09360 horizontal support zone (bound by magenta horizontal lines).

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily_February 23, 2020.png Size: 137 KB
Do your homework, follow the footprints of smart money
  • #1,162,958
  • Feb 23, 2020 4:19pm Feb 23, 2020 4:19pm
Nice gap down.
nice opportunity to ride this up
  • #1,162,959
  • Feb 23, 2020 7:58pm Feb 23, 2020 7:58pm
Now that the gap is filled? Up or down? My analysis say down, with COT numbers. EURUSD.
  • #1,162,960
  • Feb 23, 2020 8:29pm Feb 23, 2020 8:29pm
I say up in the short term.
This upward push is unfinished IMHO, so I reckon there’s a good chance of hitting those magenta lines.
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