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  • #1,163,661
  • Mar 5, 2020 3:43pm Mar 5, 2020 3:43pm
Quoting here2there
This is not a normal market.
Agreed. My stops are in place so what will be, will be.
A fool and his money are easily parted
  • #1,163,662
  • Mar 5, 2020 4:20pm Mar 5, 2020 4:20pm
Quoting Techanalyst
{quote} Check his profile, he has like 129 people on ignore. Probably got issues who knows.
It appears there are a number of people in this place who have such issues. It is becoming very irritating.
Learn from your mistakes and march on.
  • #1,163,663
  • Mar 5, 2020 5:58pm Mar 5, 2020 5:58pm
Don’t let the fact that my account says i’m a new member, I’ve been trading for over a decade. I would just like to share some of my thoughts.
With all the EUR/USD bulls around right now, this might be an unpopular opinion, but, I think this level at 1.1240 might hold, if you look far enough to the weekly charts, you all should see that this is the top as well and may offer very strong resistance. Of course, I could be wrong though, just sharing my thoughts.

If indeed the EUR/USD blows upwards and through 1.1240, I do not see it staying at that high a level.

If any of my post here is worth remembering it is this: LOOK AT THE FUNDAMENTAL AND MACRO VIEW. Yes, the Fed has cut rates already and is even projected to cut rates even more, and to the seemingly educated eye, this is bullish for Euro and EUR/USD should go up, yes, initially, but how many of you are actually looking at the REASON the Fed has performed an EMERGENCY rate cut? Unfortunately, it seems the economy is heading for recession at the least and a depression at the worst. We already seemed to be heading into a recession, and this Coronavirus seems to have been an accelerant—-the pin to pop the bubble. And in a depression, money flows from the periphery to the core. The core of this system is the USD. I have a feeling the USD will see rally and see strength like you would not believe in the medium to long term especially if a recession/depression hits. These are just my thoughts. Interpret them as you wish.
  • #1,163,664
  • Mar 5, 2020 5:59pm Mar 5, 2020 5:59pm
This is what I am looking for, let's see how it goes tomorrow morning. Thinking R138 1.1302 stands a good possibility of getting hit tomorrow.
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"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #1,163,665
  • Mar 5, 2020 6:22pm Mar 5, 2020 6:22pm
Attached Image
"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #1,163,666
  • Mar 5, 2020 6:37pm Mar 5, 2020 6:37pm
Quoting jesxrussel
{image} market respected 1.1185 (strong resistance) {image} 3 days market in range,will c what happen next
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Know The Presence Of The Market
  • #1,163,667
  • Mar 5, 2020 6:55pm Mar 5, 2020 6:55pm
Quoting jesxrussel
{quote} 3 days market in range,will c what happen next
I think most of us already have a fairly good idea of what is likely to happen next.

Market manipulators will likely continue to go against everything that makes sense to the technical analyst and drive EURUSD to absurdly higher heights to take out as many shorts as possible. And when their greed is satisfied, they will turn the tables on longs, swallowing as many of them up as they can on the way down, and creating candle wick spikes to take out any retail traders who would dare place a short with a tight stop loss.

But maybe I will be wrong.
Learn from your mistakes and march on.
  • #1,163,668
  • Mar 5, 2020 7:05pm Mar 5, 2020 7:05pm
Quoting here2there
{quote} I think most of us already have a fairly good idea of what is likely to happen next. Market manipulators will likely continue to go against everything that makes sense to the technical analyst and drive EURUSD to absurdly higher heights to take out as many shorts as possible. And when their greed is satisfied, they will turn the tables on longs, swallowing as many of them up as they can on the way down, and creating candle wick spikes to take out any retail traders who would dare place a short with a tight stop loss. But maybe I will be...
ouhhh..okkk
Know The Presence Of The Market
  • #1,163,669
  • Mar 5, 2020 7:16pm Mar 5, 2020 7:16pm
if price does not break higher then we have a possible macd to price bearish divergence for a 50% retrace
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  • #1,163,670
  • Mar 5, 2020 7:22pm Mar 5, 2020 7:22pm
Quoting PatienceFx
if price does not break higher then we have a possible macd to price bearish divergence for a 50% retrace {image}
i will wait for a proper setup first
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  • #1,163,671
  • Mar 5, 2020 7:34pm Mar 5, 2020 7:34pm
Quoting PatienceFx
{quote} i will wait for a proper setup first {image}
4hr RSI divergence
  • #1,163,672
  • Mar 5, 2020 7:37pm Mar 5, 2020 7:37pm
not going to use any fib or pivot levels

we get stuck in levels and miss the main action
  • #1,163,673
  • Mar 5, 2020 7:38pm Mar 5, 2020 7:38pm
Quoting investing101
{quote} 4hr RSI divergence
i will wait for macd to turn bearish [ drop below 0 ]
  • #1,163,674
  • Mar 5, 2020 7:43pm Mar 5, 2020 7:43pm
German zew data and eur factory pmi data helped strengthen eur across the board

unless there is a news for eur weakness or usd strength this bugger wont drop
  • #1,163,675
  • Mar 5, 2020 8:32pm Mar 5, 2020 8:32pm
Quoting here2there
{quote} I think most of us already have a fairly good idea of what is likely to happen next. Market manipulators will likely continue to go against everything that makes sense to the technical analyst and drive EURUSD to absurdly higher heights to take out as many shorts as possible. And when their greed is satisfied, they will turn the tables on longs, swallowing as many of them up as they can on the way down, and creating candle wick spikes to take out any retail traders who would dare place a short with a tight stop loss. But maybe I will be...
Good call. Push it up post jobs numbers. Get the shorts flustered the longs all proud of themselves and then start dumping it down as everyone rushes out for the weekend. What a week for the Euro Longs.

All one can do really unless long, of course, is to wait and see. The big coin flip on Friday.
  • #1,163,676
  • Mar 5, 2020 8:36pm Mar 5, 2020 8:36pm
Look for maybe one final swing down to the H4 15 EMA 1.1180 area before the push back up?
  • #1,163,677
  • Mar 5, 2020 8:42pm Mar 5, 2020 8:42pm
Quoting enarco
{quote} Good call. Push it up post jobs numbers. Get the shorts flustered the longs all proud of themselves and then start dumping it down as everyone rushes out for the weekend. What a week for the Euro Longs. All one can do really unless long, of course, is to wait and see. The big coin flip on Friday.
I will be happy to make it out of this without a loss.

I didn't expect EURUSD to climb so high without a decent retrace. This whole thing took me by surprise.

As mentioned in an earlier comment, this has been a learning experience for me. So even if I walk away with a loss, I am still a winner in that I have learned something.

It's funny how you can know so much about technical analysis and still get squashed like a grape by the market. LOL
Learn from your mistakes and march on.
  • #1,163,678
  • Mar 5, 2020 8:46pm Mar 5, 2020 8:46pm
Quoting here2there
{quote} I will be happy to make it out of this without a loss. I didn't expect EURUSD to climb so high without a decent retrace. This whole thing took me by surprise. As mentioned in an earlier comment, this has been a learning experience for me. So even if I walk away with a loss, I am still a winner in that I have learned something. It's funny how you can know so much about technical analysis and still get squashed like a grape by the market. LOL
Trends don't care about math. In a trend most of it can be tossed out the window. All one can do is look for pullbacks in the trend to hit.

And to think that maybe one day the Euro could actually be extinct. One can think back to this magical time if still around.
  • #1,163,679
  • Mar 5, 2020 8:47pm Mar 5, 2020 8:47pm
Quoting here2there
{quote} I will be happy to make it out of this without a loss. I didn't expect EURUSD to climb so high without a decent retrace. This whole thing took me by surprise.
Which is what it was supposed to do and precisely why I didn’t even attempt to trade this.
The time to trade again will likely show next week, but this part of the market is still in the decision phase - which is ironically the part of the cycle that kills overtraders.
  • #1,163,680
  • Mar 5, 2020 8:52pm Mar 5, 2020 8:52pm
https://www.forexfactory.com/showthr...7#post12794177

short taken from black dotted line on a black chart
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