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  • #119,921
  • Nov 25, 2020 2:35am Nov 25, 2020 2:35am
Quoting macdulio
The correction (Wave 4) was a running flat, so this is now wave 5 of Wave 5 - the beat {image}
I see it as the beginning on wave 3 of 5.. (If 1.1918 allows)

Stay Green
Focus only on what truly matters!
  • #119,922
  • Nov 25, 2020 2:38am Nov 25, 2020 2:38am
Still within the sideways weekly trend channel (for 18th week now). Wicks can always appear though...
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  • #119,923
  • Nov 25, 2020 2:38am Nov 25, 2020 2:38am
1.19150 nearest support
  • #119,924
  • Nov 25, 2020 2:38am Nov 25, 2020 2:38am
US prelim GDP in 5h from now. US PMI numbers were good and peeled off 100pips in a big hurry Monday. Daily chart retrace to even 1.16 would not damage the long term trend reversal from down to up on monthly/weekly/daily charts (would probably even be healthy for long term bulls). Would not be heavily long here.
  • #119,925
  • Nov 25, 2020 2:42am Nov 25, 2020 2:42am
Quoting bartholemew
US prelim GDP in 5h from now. US PMI numbers were good and peeled off 100pips in a big hurry Monday. Daily chart retrace to even 1.16 would not damage the long term trend reversal from down to up on monthly/weekly/daily charts (would probably even be healthy for long term bulls). Would not be heavily long here.
How many times can you expect weekly candles to dip? It already dipped twice on weekly and even a 3rd time on Daily just yesterday towards the mid area of weekly sideways channel 1.1842 area.. I don't see it likely that bulls will waste this chance and this theater has to end at some point.. Just thinking out loud..

Stay Green
Focus only on what truly matters!
  • #119,926
  • Nov 25, 2020 2:45am Nov 25, 2020 2:45am
Went long here at 1.19085... Stops must stay a little below 1.1873..

Stay Green
Focus only on what truly matters!
  • #119,927
  • Nov 25, 2020 2:46am Nov 25, 2020 2:46am
Will be a beutiful day. Don't mean FOMC at all.
Be careful, brothers!
  • #119,928
  • Nov 25, 2020 2:47am Nov 25, 2020 2:47am
final push by bulls to attract buyers and destroy stops im in for a journey down
  • #119,929
  • Nov 25, 2020 2:50am Nov 25, 2020 2:50am
New high, massive up momentum, and yet, out of nowhere push down against what evidently must be obvious and easy long accumulation.
So who is selling into the uptrend? And why. Are they suicidal or do they know something we don't?
Are they going to lose money or will they make it?

This thing called trading.

What's for sure is that the guys selling must have an awful lot of money because that's what it takes to reverse a trend or impose a major swing opposite the prevailing one.
Practitioner of the cryptic trading arts
  • #119,930
  • Nov 25, 2020 2:50am Nov 25, 2020 2:50am
If it turns before touching 1.19 big figure again, this would be a strong sign for the uptrend to continue. We have seen this pattern many times in the last months whenever bulls turned out to be in the lead in hindsight.
Another day, another dollar.
  • #119,931
  • Nov 25, 2020 2:52am Nov 25, 2020 2:52am
Buy limit @ 1.18747 if we can get there.
Sl 50 pips tp 1.20040


Edit: I expect 1.18900 to support terribly... That's if 1.1900 let's go easily
Risk comes from not knowing what to do
  • #119,932
  • Nov 25, 2020 3:04am Nov 25, 2020 3:04am
Morning all, hope you're well. Bears are looking kind of good on 1H lol.
  • #119,933
  • Nov 25, 2020 3:11am Nov 25, 2020 3:11am
Quoting nic9man
If it turns before touching 1.19 big figure again, this would be a strong sign for the uptrend to continue. We have seen this pattern many times in the last months whenever bulls turned out to be in the lead in hindsight.
Again we did not tough the big figure - this is bullish.
Another day, another dollar.
  • #119,934
  • Nov 25, 2020 3:13am Nov 25, 2020 3:13am
Dear All,

How much Room would be left there upside.

Put Statistics to work - Sell on New Highs

We should have some Pin Bar Specialist also in this Forum who can look and say about current H4 and H1 Pin Bar

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Be Blessed with Green Pips

Thanks & Regards
  • #119,935
  • Nov 25, 2020 3:13am Nov 25, 2020 3:13am
Daily looking bullish but until candle closes above resistant it's hard to say. Might also be a short term run on liquidity, looking for a quick short scalp.
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  • #119,936
  • Nov 25, 2020 3:14am Nov 25, 2020 3:14am
Quoting Ata-Turkoglu
{quote} How many times can you expect weekly candles to dip? It already dipped twice on weekly and even a 3rd time on Daily just yesterday towards the mid area of weekly sideways channel 1.1842 area.. I don't see it likely that bulls will waste this chance and this theater has to end at some point.. Just thinking out loud.. Stay Green
No expectations either way but 500pip range vacillations lasting a year or more before major trend reversals can be found on this chart history, so this consolidation since summer isn't exceptionally long in the tooth.

One long-term bullish EURUSD thesis is investment capital flows away from USD businesses into EUR businesses, plus Eurobond conviction. Those things are nice but I'm skeptical they've put long term trends into place. Opinions on politics and policy agendas aside, the US stock market has historically done better under Democratic presidents (that's just the data talking, not partisan talking points), for whatever reason. USA faces months of uncertainty on how winter COVID spread will truly affect the US economy, which is (perhaps) short term bullish for EURUSD, but those investment capital flows have longer time horizons than currency traders. We will see if they "look across the valley" regarding current peril in the USA, and whether USD gets a bid from investment capital flows wanting to purchase USD-denominated assets.
  • #119,937
  • Nov 25, 2020 3:18am Nov 25, 2020 3:18am
Yesterday trendline needs to be break before bullish can continue.

i this this is criacl moment since there is M pattern in H1 too.
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  • #119,938
  • Nov 25, 2020 3:19am Nov 25, 2020 3:19am
Yesterday trendline needs to be break before bullish can continue.

i think this is crucial moment since there is M pattern in H1 too.
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  • #119,939
  • Edited 3:55am Nov 25, 2020 3:23am | Edited 3:55am
Now it touched the 1.19, but now it is a falling wedge...

EDIT: Wedge broke out to the upside as expected.
Another day, another dollar.
  • #119,940
  • Nov 25, 2020 3:25am Nov 25, 2020 3:25am
Quoting selfrit
Yesterday trendline needs to be break before bullish can continue. i think this is crucial moment since there is M pattern in H1 too. {image}
if i have to choose. the favour is in bearish now. too many pattern support for bear to show up.

carefull for bullish side.
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