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EURUSD only

  • #123,321
  • Jan 5, 2021 7:37am Jan 5, 2021 7:37am
EUR/USD turning point on 1H chart which will occur on 2021.01.05
Turning point in 15 min time frame with EST time included
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1_2021.01.05.PNG Size: 46 KB
  • #123,322
  • Jan 5, 2021 7:40am Jan 5, 2021 7:40am
Quoting udithag
EUR/USD turning point on 1H chart which will occur on 2021.01.05 Turning point in 15 min time frame with EST time included {image}
Is it going to turn UP or DOWN?
  • #123,323
  • Jan 5, 2021 7:45am Jan 5, 2021 7:45am
Quoting andvk74
{quote} Is it going to turn UP or DOWN?
According to fundamentals I posted earlier together with technicals. Its going to Turn down, I guess
Shorting a small lot size with tight SL.
Looking to buy deeps
Good things comes in pairs...
  • #123,324
  • Jan 5, 2021 7:49am Jan 5, 2021 7:49am
Quoting andvk74
{quote} Is it going to turn UP or DOWN?
It is difficult to tell that in advance friend. please have a look closely at that time about 1 hour and 15 min trend. whatever the trend is, it is going to reverse the trend.
  • #123,325
  • Jan 5, 2021 7:56am Jan 5, 2021 7:56am
Attached Image (click to enlarge)
Click to Enlarge Name: 51dd344cdd0417a1c3054f5cca231e11.png Size: 42 KB
Short mode

If break (2) its shortest
my sell setup
1.2282
SL: 1.2292
TP: 1.2199
TF M15
  • #123,326
  • Jan 5, 2021 8:00am Jan 5, 2021 8:00am
Quoting MnrComposite
{quote} Still holding long. A lot of consolidation around 1.2270. Looks like market is setting for a new leg up.
Although we are seeing some pull back, that latest high around 1.2290 gives us roughly a 63% probability of reaching 1.23395 before 1.22395.

Anything can happen though! Sellers look to be coming in pretty strong.
Viewing the market through f(x)
  • #123,327
  • Jan 5, 2021 8:04am Jan 5, 2021 8:04am
Quoting andvk74
{quote} Is it going to turn UP or DOWN?
Its smack in the middle of resistance and support, in my book that is a bad position to be in. don't force the trade. Either wait until it spikes up and look for the reversal to sell at 1.2310 or bounces off 1.2240-10 for buy...note it could smash though either of those and go to 1.2180 or 1.2350 and you miss the move entirely, but such is EURUSD...in other words noone knows cause right now its consolidating. You might be able to scalp either position for today...again too risky IMO.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 01052021 hourly.JPG Size: 199 KB
Stop thinking like a retail trader
Forextrinitrader3.0 Profit This Month: na
  • #123,328
  • Jan 5, 2021 8:11am Jan 5, 2021 8:11am
Quoting Austyno
Bulls need to defend 1.22640 area with everything they've got if we are to continue up
Amazing, how that pair likes the pink trend line (which I have posted sooooo many times before: it's still the same):
Attached Image (click to enlarge)
Click to Enlarge Name: 058f70e23f29e99a6bb8e4eccb1151af.png Size: 17 KB
  • #123,329
  • Jan 5, 2021 8:21am Jan 5, 2021 8:21am
Quoting Austyno
Bulls need to defend 1.22640 area with everything they've got if we are to continue up
Good bull, they heard my calls, still not out of the woods yet, we need a bullish engulfing candle on 1hr
Risk comes from not knowing what to do
  • #123,330
  • Jan 5, 2021 8:24am Jan 5, 2021 8:24am
Quoting MnrComposite
{quote} Although we are seeing some pull back, that latest high around 1.2290 gives us roughly a 63% probability of reaching 1.23395 before 1.22395. Anything can happen though! Sellers look to be coming in pretty strong.
Can I ask, why do you separate them out by 100 pips - is it sort of arbitrary or a result of some specific analysis?
  • #123,331
  • Jan 5, 2021 8:40am Jan 5, 2021 8:40am
Quoting Starcraftmaz
{quote} Can I ask, why do you separate them out by 100 pips - is it sort of arbitrary or a result of some specific analysis?
It’s just arbitrary. You could use whatever range size you’d like to trade in.

I prefer 100 because I can normalize and calculate the spread cost I need to account for in my probabilities along with other things like break even win rate for open position assuming a Gaussian distribution.

Spread / 100 or whatever your range is, gives you the “houses edge” you need to beat.
Viewing the market through f(x)
  • #123,332
  • Jan 5, 2021 8:41am Jan 5, 2021 8:41am
M15 Status Update

  1. For now bulls have the upper hand BUT the question is for how long?
  2. IF bulls can defend 1.2260/65 area they could attack 1.2275/80 area once again but then they also will form the right shoulder of a potential H&S pattern which gives bears the upper hand again..
  3. Long story short: I stay away from situations like this and wait on sidelines until we see a major breakout and clearer direction!

Stay Green

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-M15-Status-Update.png Size: 36 KB
Focus only on what truly matters!
  • #123,333
  • Jan 5, 2021 9:00am Jan 5, 2021 9:00am
Attached Image (click to enlarge)
Click to Enlarge Name: 105.PNG Size: 34 KB
  • #123,334
  • Jan 5, 2021 9:03am Jan 5, 2021 9:03am
Quoting myths
{image}
I feel like we may be about to find out!
  • #123,335
  • Jan 5, 2021 9:04am Jan 5, 2021 9:04am
If divergence remains, then I expect a move UP on the euro.
DISREGARD THE TOP PICTURE - I can't delete it for some reason.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2020-12-23 17_25_02-.png Size: 87 KB
Click to Enlarge Name: 2021-01-05 18_03_18-.png Size: 89 KB
  • #123,336
  • Jan 5, 2021 9:05am Jan 5, 2021 9:05am
Quoting Ata-Turkoglu
M15 Status Update For now bulls have the upper hand BUT the question is for how long? IF bulls can defend 1.2260/65 area they could attack 1.2275/80 area once again but then they also will form the right shoulder of a potential H&S pattern which gives bears the upper hand again.. Long story short: I stay away from situations like this and wait on sidelines until we see a major breakout and clearer direction! Stay Green {image}
It is not below 1.22217 at the moment, it is an increase
  • #123,337
  • Jan 5, 2021 9:08am Jan 5, 2021 9:08am
Quoting Starcraftmaz
{quote} I feel like we may be about to find out!
Discover what?
  • #123,338
  • Jan 5, 2021 9:10am Jan 5, 2021 9:10am
Quoting myths
{quote} Discover what?
Whether that trendline will hold or not. It's on the verge of being punctured but I do also hope it holds.
  • #123,339
  • Jan 5, 2021 9:14am Jan 5, 2021 9:14am
Quoting Starcraftmaz
{quote} Whether that trendline will hold or not. It's on the verge of being punctured but I do also hope it holds.
It did not go down to 1.22420, it probably will continue
  • #123,340
  • Jan 5, 2021 9:18am Jan 5, 2021 9:18am
Quoting myths
{quote} It is not below 1.22217 at the moment, it is an increase
Well for me it still means: stay away.. no clear direction yet..

Stay Green
Focus only on what truly matters!
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