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EURUSD only

  • #123,881
  • Jan 12, 2021 8:57am Jan 12, 2021 8:57am
Quick H4 Status Update

Please notice how bulls are trying to go back above 1.2168.. As long as below red area bears shall lead!!!

Stay Green
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H4-Status-Update.png Size: 37 KB
Focus only on what truly matters!
  • #123,882
  • Jan 12, 2021 9:02am Jan 12, 2021 9:02am
After so many hours and still NO clear confirmation.
I like to see at least 2 candles closes outside my levels to confirm the direction.
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd H1.png Size: 50 KB
  • #123,883
  • Jan 12, 2021 10:57am Jan 12, 2021 10:57am
Market collecting some more shorts to ram through 1.2168.
Another day, another dollar.
  • #123,884
  • Jan 12, 2021 11:03am Jan 12, 2021 11:03am
I'm long all the way to 1.23320
  • #123,885
  • Jan 12, 2021 11:19am Jan 12, 2021 11:19am
Hi,
accumulation time, market is tanking orders... let's wait for the breakout.
Several years ago, these days have been my heaviest losing days

Best
Chriss
  • #123,886
  • Jan 12, 2021 11:21am Jan 12, 2021 11:21am
Will short up at the top of the bear flag if it gets there if we're on a support on DXY (anything I post is very tight stops, stop to BE asap)
Attached Image (click to enlarge)
Click to Enlarge Name: eurolatest3.jpg Size: 161 KB
  • #123,887
  • Jan 12, 2021 12:08pm Jan 12, 2021 12:08pm
Now we're here. It just took a few hours
Now I'm patiently waiting till after ASIAN session to see if the DIVERGENCE remains. If it does, then I'll be looking for a SHORT entry tomorrow.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: DXY and EUR SMT chart 111.png Size: 77 KB
Click to Enlarge Name: DXY and EUR SMT chart.png Size: 79 KB
  • #123,888
  • Jan 12, 2021 12:46pm Jan 12, 2021 12:46pm
Quoting shahab8b
{quote} My starting point is 1.16. I'm expecting this to unfold as an abc correction. {image}
Very nice chart thank you. I missed Your starting point this morning while looking at phone screen but can see how you labelled it all starting at bottom and where the start point is.
Founder of Sutherland Wave Principle
  • #123,889
  • Jan 12, 2021 1:06pm Jan 12, 2021 1:06pm
swing it's not my usual style, but I expect at least some bounce at these HTF (high-scale) levels
good stuff here, thank you all very much
regards
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 77 KB
Newbie trader
  • #123,890
  • Jan 12, 2021 1:22pm Jan 12, 2021 1:22pm
Just shorted 1.2195... Stops must go a little above 1.2219..

Stay Green
Focus only on what truly matters!
  • #123,891
  • Jan 12, 2021 1:30pm Jan 12, 2021 1:30pm
Quoting nic9man
Apparently the market is worried that Powell would give hints on Thursday that QE could end early if inflation dynamics are sufficient. However, I reckon the opposite will happen. As Biden will issue plenty of new debt the FED will have to buy it, so Powell will rather reference to the NFP drop and stress the symmetric inflation target sending the USD back down.
Here comes the first headlines on this as I expected: „Fed's George: Fed won't react if inflation tips over 2 percent“ and she referenced to unemployment as expected. Powell will most probably take the same track on Thursday, so we could end up above 1.24 by Friday.
Another day, another dollar.
  • #123,892
  • Jan 12, 2021 1:33pm Jan 12, 2021 1:33pm
Quoting Ata-Turkoglu
{quote} It can but I believe not without stepping back to gain some momentum.. So I am eyeballing 1.2150 area for support so I can buy again.. Stay Green
well predicted
Withdrawal makes your profit real.
  • #123,893
  • Jan 12, 2021 1:44pm Jan 12, 2021 1:44pm
Quoting drakoczy
{quote} well predicted
Thought so too. In general the large rising wedge worked out far better than I would have suspected in this case, nice catch @ Ata.
Another day, another dollar.
  • #123,894
  • Edited 2:03pm Jan 12, 2021 1:51pm | Edited 2:03pm
It was all a trap for the crowded USD short investors. We had the rising wedge and MM spread the story of a possible early end of QE in order to squeeze USD shorts and collect them all for themelves. I bought some more EURUSD during the correction and will hold till we see a final big spike with new highs. Think we will most likely enter the 1.30s again this year, but don‘t have a good target for the current move yet, however, at least 1.2450.
Another day, another dollar.
  • #123,895
  • Jan 12, 2021 2:43pm Jan 12, 2021 2:43pm
DXY daily bearish engulfing.
Another day, another dollar.
  • #123,897
  • Jan 12, 2021 3:26pm Jan 12, 2021 3:26pm
Quoting JackintheBox
Hi, I'm semi professional trader and If you think the market acts weird at the moment I can tell you that is definetely true. Correction has to come on Eur/USD. So if you blow your account today in the evening, that's normal. I traded myself in, sitting on a 0,2 pips win currently on Eur/USD (highest short 1 pip below current high )- GBP/USD same picture, currently 0,8 pips loss, highest short 2 pip below high currently. These sessions are very rare, once every 6 month. If you can afford it, get out of the market. It can take up to 20-30 pips more...
Thank you for the info. Do you know when this market weird behavior will end? Thanks.
  • #123,898
  • Jan 12, 2021 3:29pm Jan 12, 2021 3:29pm
Quoting RyuChym
{quote} Thank you for the info. Do you know when this market weird behavior will end? Thanks.
Wait for daily candle change
The Phoenix Trader....
  • #123,899
  • Jan 12, 2021 3:30pm Jan 12, 2021 3:30pm
Quoting nic9man
It was all a trap for the crowded USD short investors. We had the rising wedge and MM spread the story of a possible early end of QE in order to squeeze USD shorts and collect them all for themelves. I bought some more EURUSD during the correction and will hold till we see a final big spike with new highs. Think we will most likely enter the 1.30s again this year, but don‘t have a good target for the current move yet, however, at least 1.2450.
I would suggest to never ignore the "3 white soldiers" or the "3 black crows" patterns.. We had 3 bear candles down on daily chart: i.e. 3 black crows.. Currently several days of bull(shitt)ish shenanigans maybe (wave b) but eventually bearishness will likely to be continued and in a much stronger way (wave c).. Beware!

Stay Green
Focus only on what truly matters!
  • #123,900
  • Jan 12, 2021 3:34pm Jan 12, 2021 3:34pm
Quoting Ata-Turkoglu
{quote} I would suggest to never ignore the "3 white soldiers" or the "3 black crows" patterns.. We had 3 bear candles down on daily chart: i.e. 3 black crows.. Currently several days of bull(shitt)ish shenanigans maybe (wave b) but eventually bearishness will likely to be continued and in a much stronger way (wave c).. Beware! Stay Green
My weekly chart suggests level of 1950 before going up.
The Phoenix Trader....
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