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The Swamp

  • #72,921
  • Aug 3, 2020 1:06am Aug 3, 2020 1:06am
Quoting keongzai94
EU long from 1770 and 1809. Open TP, SL at 1740.
SL hit and it went back up. Should've put lower. Looks like its gonna range for awhile, staying out of the market till tonight and see.
  • #72,922
  • Aug 3, 2020 1:13am Aug 3, 2020 1:13am
Quoting TuTang
{quote} You might consider higher. 1812 is a magnet. Its coming london

What is the significance of 1812? I've just returned home from exhausting 12.5 hour night shifts Friday- Sunday. I missed all of the Friday end of month action. No sleep for me until I get a dose of FX.
  • #72,923
  • Edited 4:37am Aug 3, 2020 1:33am | Edited 4:37am
Hm, hm, the greenback seems to be getting out of fashion.

The Russian state controlled site rt.com says that the trade between Russia and China is much less lately in US dollars. Here is the full text of the article:

[start of quote]
Bye Bye Benjamin! Russia & China speed up de-dollarization process: most trade no longer conducted in greenbacks

By Jonny Tickle

After years of talking about abandoning the US dollar, Russia and China are doing it for real. In the first quarter of 2020, the share of the dollar in trade between the countries fell below 50 percent for the first time.

According to Moscow daily Izvestia, the share has dropped to 46 percent, tumbling from 75 percent in 2018. The 54 percent of non-dollar trade is made up of Chinese yuan (17 percent), the euro (30 percent), and the Russian ruble (7 percent).

The dollar's reduced role in international trade can mainly be blamed on the ongoing trade war between the US and China. Relations between the two countries have deteriorated even further in 2020, after US politicians accused Beijing of hiding the severity of Covid-19 and President Donald Trump called disease the "China Virus" and "Kung Flu."

In January, Russian Foreign Minister Sergey Lavrov explained that Moscow is continuing "its policy aimed at gradual de-dollarization" and is looking to make deals in local currencies, where possible.

Lavrov called the rejection of the greenback "an objective response to the unpredictability of US economic policy and the outright abuse by Washington of the dollar's status as a world reserve currency."

Movement away from the dollar can also be seen in Russia's trade with other parts of the world, such as the European Union. Since 2016, trade between Moscow and the bloc has been mainly in Euros, with its current share sitting at 46 percent.
[Eng of quote]

EDIT: Typo.
In trading as in life you need to learn only from the best!
  • #72,924
  • Aug 3, 2020 1:58am Aug 3, 2020 1:58am
Quoting Blackopal
{quote} I stacked EU shorts from 1766 -77. GU from 1.3085- 3094. Still think both are bullish but I don't think the correction is over yet.

First TP hit GU 1.3058. Half out. Closed about a third of EU at 1750
  • #72,925
  • Aug 3, 2020 2:00am Aug 3, 2020 2:00am
Quoting Blackopal
{quote} What is the significance of 1812? I've just returned home from exhausting 12.5 hour night shifts Friday- Sunday. I missed all of the Friday end of month action. No sleep for me until I get a dose of FX.
You can be right . 1812 is an M15 level on my chart. But seems H1 trend override it atm. Im not taking long trade anw. Take care!
  • #72,926
  • Edited 3:14am Aug 3, 2020 2:10am | Edited 3:14am
Quoting TuTang
{quote} You can be right . 1812 is an M15 level on my chart. But seems H1 trend override it atm. Im not taking long trade anw. Take care!
Cheers TuTang. I'm not right yet, DAX hasn't passed last high, EU and GU haven't passed the last low, time may prove that I should have closed all. Even if they go my way, it doesn't mean I was right, just may mean the coin landed on my side.

Ahh yes, I see the 1812 now

EDIT... closed the rest for small pips b4 I lost them
  • #72,927
  • Aug 3, 2020 4:02am Aug 3, 2020 4:02am
Quoting Blackopal
{quote} Cheers TuTang. I'm not right yet, DAX hasn't passed last high, EU and GU haven't passed the last low, time may prove that I should have closed all. Even if they go my way, it doesn't mean I was right, just may mean the coin landed on my side. Ahh yes, I see the 1812 now EDIT... closed the rest for small pips b4 I lost them
After last Fri i prefer to short this. GU short doesnt look as good. But thats very typical GU. IT will break and give more pips in the end with larger range
  • #72,928
  • Aug 3, 2020 4:20am Aug 3, 2020 4:20am
This week we will hear that Pelosi has agreed on reducing the unemployment benefit from 600$ to 200$, in order to unblock the stimulus bill.

It's what the economy needs, and democrats will have an excuse to say that republicans were blocking the bill and they were obligated to agree.

USD will rise.
I don't know...
  • #72,929
  • Aug 3, 2020 5:15am Aug 3, 2020 5:15am
1h closed a b/o but its above a 1208 foot print at 1742. it may need to bounce to 1784 or 1/2 way back 1762/59ish.
Attached Image (click to enlarge)
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those who can, do. those who cant, talk about those who can
  • #72,930
  • Aug 3, 2020 5:19am Aug 3, 2020 5:19am
Quoting kuroro001
100% sure retrace to 1.1777 eu 1,3033 gu 105,04 uj 93.2 dollar index Then load all in again
And we're done here too

All retraced to their high vol area
COT: The precious data ignored
  • #72,931
  • Aug 3, 2020 5:20am Aug 3, 2020 5:20am
Quoting gatorinla
{quote} Maybe afternoon, on Jan 20 can make it bearish again. But until then expect crazy tweets like "the post office may be closed with an executive order." Due to a fake terrorist plot backed, by Bar. Fake anthrax or bomb. Where all the mail is stopped, held up, or destroyed before election. What can one expect for a guy who thinks, "you need a id to shop at a store". Or "Lincoln was a Republican, nobody knew that". You cant make this shit up. I'm certain more unforeseen crazy to come before November 3 Article I, Section 8, Clause 7 of the United...
I was wrong, it looks like deliberately slowing mail delivery is the plan.

https://www.npr.org/2020/07/29/89479...advocates-warn
those who can, do. those who cant, talk about those who can
  • #72,932
  • Aug 3, 2020 5:26am Aug 3, 2020 5:26am
Quoting gatorinla
1h closed a b/o but its above a 1208 foot print at 1742. it may need to bounce to 1784 or 1/2 way back 1762/59ish. {image}
it broke down.. some support 170x.. some R 1742 later.
Attached Image (click to enlarge)
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those who can, do. those who cant, talk about those who can
  • #72,933
  • Aug 3, 2020 5:28am Aug 3, 2020 5:28am
bought some at 1722, another pending at 1705. Not looking for much just some minor scalps.
  • #72,934
  • Aug 3, 2020 5:55am Aug 3, 2020 5:55am
Quoting gatorinla
{quote} I was wrong, it looks like deliberately slowing mail delivery is the plan. https://www.npr.org/2020/07/29/89479...advocates-warn
He hires all the best people. "DeJoy, the nation's 75th postmaster general — a line that stretches back to Benjamin Franklin — is a major donor to President Trump and other Republicans." What could possibly go wrong?
  • #72,935
  • Aug 3, 2020 6:10am Aug 3, 2020 6:10am
Take profit level

+138 pips on lower level entry (now closed) and holding the two above. Will add back in later on a bounce
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 43 KB
  • #72,936
  • Aug 3, 2020 6:13am Aug 3, 2020 6:13am
Quoting FXSerenity
Take profit level +138 pips on lower level entry (now closed) and holding the two above. Will add back in later on a bounce {image}

Well done!
  • #72,937
  • Aug 3, 2020 6:16am Aug 3, 2020 6:16am
Quoting kuroro001
{quote} And we're done here too All retraced to their high vol area
That was a good call.


"Then load all in again" ......are you in again?
  • #72,938
  • Aug 3, 2020 6:35am Aug 3, 2020 6:35am
Quoting Blackopal
{quote} That was a good call. "Then load all in again" ......are you in again?
Not yet, because we broke that area + COT is very bulish for dollar and bearish for GBP
Euro has buyers but way too many
COT: The precious data ignored
  • #72,939
  • Edited 6:58am Aug 3, 2020 6:41am | Edited 6:58am
Quoting kuroro001
{quote} Not yet, because we broke that area + COT is very bulish for dollar and bearish for GBP Euro has buyers but way too many
Yeah, I agree, still downward momentum too. I'm watching the AU. The 4H trough to the left that bottoms around 7060 looks tempting for a long. If it has 4H closes below that it might become a significant reversal
  • #72,940
  • Aug 3, 2020 7:07am Aug 3, 2020 7:07am
Quoting TuTang
{quote} After last Fri i prefer to short this. GU short doesnt look as good. But thats very typical GU. IT will break and give more pips in the end with larger range

"EDIT... closed the rest for small pips b4 I lost them"

And then they both dived and formed the best One Hour bear candle yet in this correction
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