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  • #116,361
  • Oct 16, 2020 1:09pm Oct 16, 2020 1:09pm
Quoting bigiivan
Hm! Interesting! DX said that there has to be a new daily high on EU. Let's see!
There aren't enough power to push it up. Maybe on monday, we will see.
  • #116,362
  • Oct 16, 2020 1:37pm Oct 16, 2020 1:37pm
Quoting klm1011
buy this retracement guys if you want to go long for on monday
ok will do. thanks
  • #116,363
  • Edited 2:02pm Oct 16, 2020 1:51pm | Edited 2:02pm
Quoting Lamira
{quote} ok will do. thanks
again this is a probability as always
based on fib overbought and one indi signalling price turning which can give early entry
sl 20 pip atleast- 1R/2R
never any gaurentees in trading
if you want to be conservative then 10 pip sl
if hit you could consider the same in the opposite direction.
1R/2R
  • #116,364
  • Oct 16, 2020 1:54pm Oct 16, 2020 1:54pm
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Pennant figure. Considering the false breakout "A" I think there will be a movement to the south.
  • #116,365
  • Oct 16, 2020 3:33pm Oct 16, 2020 3:33pm
So this week's candle will close exactly at the open of the candle two weeks ago. This level (1,17145) has been important for the last 12 weeks. Take a look at the W1 and D1
  • #116,366
  • Oct 17, 2020 12:11am Oct 17, 2020 12:11am
Attached Image (click to enlarge)
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feel free to invite me to your forum, if you have any
  • #116,367
  • Oct 17, 2020 3:30am Oct 17, 2020 3:30am
Daily S/R Levels for Monday

  1. It's gonna be tight: Price is still under the bearish effect of the evening star from a few days ago..
  2. Intraday wise whilst price is below 1.17235 and even up until 1.1756, bears still have the upper hand! Therefore continuing to sell bullish pullbacks would be wiser imho..
  3. Bears have to break below 1.1699 first and that can only open their way to 1.1647..
  4. Bulls will probably try to climb back above 1.1756.. As long as their efforts gets slowed down/stopped around 1.1733 I think bears are good.. But the closer price comes to 1.1756 there is the risk that bulls might succeed.. So we must watch any bullish attack above 1.1733 carefully!
  5. Overall nothing bullish on this chart..

I hope it helps..

Stay Green

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Focus only on what truly matters!
  • #116,368
  • Oct 17, 2020 5:31am Oct 17, 2020 5:31am
Quoting Destinydim
{image}Pennant figure. Considering the false breakout "A" I think there will be a movement to the south.
That's fake man. Very odd logic .
You have just few days worth of fake spikes on this chart...

You point to area A as breakout.
What about the spike before that's crashing below the line? Also breakout ... Sooo

So all said - these lines DON'T MATTER.
WHAT matters is next news, trump lies, Brexit fakes....


The fundamental is down. The short trend down. Channel up.

My view is SELL. Sell 1760-90 area. I do have longs and closing soon.

Target. I'm thinking 1.1550 area. Of course I'm not so certain but planning down.

Be safe
Beware of robber banks (RB), bad advisors.
  • #116,369
  • Edited 6:44am Oct 17, 2020 6:10am | Edited 6:44am
Quoting Not-KPMG
{quote} ....WHAT matters is next news, trump lies, Brexit fakes.... ...
The market is currently driving negotiations on a US stimulus and a huge increase in Covid infection in Europe.
And unlike last week when I warned over the weekend that analysts around the planet are too much with a “long Euro” view, I now agree that the trend down is much more certain.

But the topic is primarily dedicated to Technical Analysis !
  • #116,370
  • Oct 17, 2020 6:37am Oct 17, 2020 6:37am
Quoting Ata-Turkoglu;13218754.[B
Daily S/R Levels for Monday[/b]

 

  1. It's gonna be tight: Price is still under the bearish effect of the evening star from a few days ago..
  2. Intraday wise whilst price is below 1.17235 and even up until 1.1756, bears still have the upper hand! Therefore continuing to sell bullish pullbacks would be wiser imho..
  3. Bears have to break below 1.1699 first and that can only open their way to 1.1647..
  4. Bulls will probably try to climb back above 1.1756.. As long as their efforts gets slowed down/stopped around 1.1733 I think bears are good.. But the closer price comes to 1.1756 there is the risk that bulls might succeed.. So we must watch any bullish attack above 1.1733 carefully!
  5. Overall nothing bullish on this chart..

{image}

Happy Saturday Ata and everyone!

Very good insightful analysis, thank you.

I would like to add my thinking, which of course should in no way be taken as advice.

The evening star clearly still has effect and this bearish move could prolong it's way into a trend. Nonetheless, it is close to an important support in an up trend that has not shown its end. Though weakened and stagnating, the up trend still has potential for continuation but so does this consolidation.

For mainly these reasons, I am open to trade both directions intraday.

Depending on the outcome, only below last support (+-1645) would I consider only selling, or a bit above if momentum allows it. Going long only with mainly trend trades above highest high.

For now though, continuing trend, counter-trend and range intraday and scalping trades, both ways.

Cheers and a happy weekend to you all. Stay safe !
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #116,371
  • Oct 17, 2020 7:16am Oct 17, 2020 7:16am
Quoting Breza
{quote} .. , I now agree that the trend down is much more certain.

But the topic is primarily dedicated to Technical Analysis !
1. I agree. More short potential. But I'm looking weeks ahead, I don't say it'll happen fast.... 1.1550 area I mean.

2. How u figured that??
Granted... small frames technical has some visual benefits .. But...
We don't need chart to make nice safe!! money

My buddy Harold is very good at technical
Attached Image
Beware of robber banks (RB), bad advisors.
  • #116,372
  • Edited 8:11am Oct 17, 2020 7:55am | Edited 8:11am
Based on indi analysis
price is on downward trend
but the deep retracement has put a strong support under price , this has to be tested , if indis flip back then a continuation down is possible in the shape of a breakout
however until that happens price can go up
so its 50/50 for trades with bullish hints from indis and price being in oversold state, price going further down would give it super oversold status.
long with suitable sl can be attempted now until continuation confirmation happens
either way 1R/2R-3R trades are possible.
  • #116,373
  • Oct 17, 2020 10:54am Oct 17, 2020 10:54am
Can someone help me to learn forex trading?
  • #116,374
  • Oct 17, 2020 2:45pm Oct 17, 2020 2:45pm
Quoting BairuRajesh
Can someone help me to learn forex trading?
This thread is loaded with people who are focused on trading EURUSD.. In general nobody here has the time to teach and guide a person like schools.. We can only help those who already have reached a specific level and want to improve their results.. That's all..

Please visit the link I provided and start learning by yourself, for yourself because to learn forex in this era of free information you only need INTERNET (GOOGLE, YOUTUBE, FX WEBSITES, EBOOKS), HEALTHY FINGERS TO TYPE, HEALTHY EYES TO SEE and a HEALTHY BRAIN TO PROCESS.. that's all.. Good luck!

https://www.babypips.com/learn/forex

Stay Green
Focus only on what truly matters!
  • #116,375
  • Oct 18, 2020 2:10am Oct 18, 2020 2:10am
Quoting Breza
{quote} The market is currently driving negotiations on a US stimulus and a huge increase in Covid infection in Europe. And unlike last week when I warned over the weekend that analysts around the planet are too much with a “long Euro” view, I now agree that the trend down is much more certain. But the topic is primarily dedicated to Technical Analysis !
First part i agree. Second exaggerated story of covid in europe if we compare with other countries seems negligible. Media need some stories to convince. Sorry not media.. The smart money !
  • #116,376
  • Oct 18, 2020 2:46am Oct 18, 2020 2:46am
Quoting Ata-Turkoglu
Daily S/R Levels for Monday It's gonna be tight: Price is still under the bearish effect of the evening star from a few days ago.. Intraday wise whilst price is below 1.17235 and even up until 1.1756, bears still have the upper hand! Therefore continuing to sell bullish pullbacks would be wiser imho.. Bears have to break below 1.1699 first and that can only open their way to 1.1647.. Bulls will probably try to climb back above 1.1756.. As long as their efforts gets slowed down/stopped around 1.1733 I think bears are good.. But the closer price comes...
For me I feel if it goes below 1.1599 then it will be a confirmed bearish move...it's so uncertain now as we are heading closer to the elections though...
  • #116,377
  • Oct 18, 2020 5:39am Oct 18, 2020 5:39am
Hmm, i'm noticing a potential inverted heads shoulder pattern on daily. If am right, the bull run should start on Monday with a target of 1.27800.

With that In mind, I'm only interested in the 1.17045 level for buying on Monday
Risk comes from not knowing what to do
  • #116,378
  • Edited 5:51am Oct 18, 2020 5:39am | Edited 5:51am
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http://www.tradingfives.com/articles...wave-guide.htm

I want to Set BE some short @1.1710
  • #116,379
  • Edited 6:37am Oct 18, 2020 6:15am | Edited 6:37am
Quoting corongumet
{image} http://www.tradingfives.com/articles...wave-guide.htm I want to Set BE some short @1.1710
nice counting, i think your b wave prediction is too deep, dont you think? this is the max and usually we dont go for the max.
imo monday will be all about c wave.

so 1.17 should be max low, 1.177 should be max high.

a wave 57 pips - c wave usually the same, so if we saw the low of b on friday @ 1.17128 so 1.177 is 57 pips

**the red box is the zone for b wave
**the bluw box is the measure of a wave
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  • #116,380
  • Oct 18, 2020 8:11am Oct 18, 2020 8:11am
COT data for the EUR shows a BEARISH signal for next week.
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