Alien's Extraterrestrial Visual Systems

so some retracement should happen on the lower timeframes setting h1 ready again ... higher timeframes still going north

it will probably go 144.00 but maybe only next week...

there is news coming but should be low impact...

so the week is ending and like to stick to the plan... 2nd tp hit and out

is that an head and shoulders pattern on m5 ?? so funny
so meaning retracements and consolidation on the lowers charts... probably for mm filling more long orders for the next week move..

and so it did and went for 144...
now w1 is still north... but d1 is showing overbought and it will cause retracement on w1.... head an shoulders on h1 suggestion beginning of down trend on lower timeframes also...

monitoring lower timeframes for re entry short..... waiting for a possible ds trade develop on m5 and/or m15....

m5 and m15 working their way as price retrace probably setting a ds trade short on m15... 143.50 area probably will be best selling price...

still retracing...

MM started manipulating spreads as usual as they fill big orders for next move down with 12 pip spread... so before it shoots down some stop losses hunt should be expected....

and so as expected fake breackout/hunt for sl... and h1 setup short signal ....

Some clues:
"European markets rallied from the London open during Tuesday’s sessions. The latest GDP figures for the Eurozone and individual countries provided investor optimism that if the COVID-19 vaccine rollouts are successful, growth will quickly re-appear. GDP for the Euro Area beat forecasts coming in at -0.7% for Q2 2020 after a revision for Q3 revealed a worse figure than previously recorded at 12.4%. Annually 2020 GDP came in at -5.1%. GameStop stock has crumbled by -82% from peak to trough over two days leaving many amateur bandwagon investors licking their wounds. Silver, another security which was supposedly the subject of smart inexperienced investors causing shorts to get squeezed, fell by -8.21% on the day, after rising by over 6% on Monday and printing an eight-year high. Silver is back to the level of January 29. Gold also fell ending the day down -1.25%.
European equity markets, the euro and sterling may come under pressure and scrutiny during Wednesday’s morning session when the latest IHS Markit services PMIs get published. Euro Area PMIs are forecast to remain relatively close to December’s levels. In contrast, Reuters forecast the services PMI for the UK will come in at 38.8, falling from 49.4. As an economy, 80% reliant on services, retail, and the consumer such a lousy UK metric could negatively impact the FTSE 100 and sterling immediately. The prediction is for EA inflation to show a year-on-year rise to 0.3% from -0.3% previously, with January’s figure expected to rise by 0.5%. The inflation data could affect the price of EUR versus its peers if analysts judge the ECB have less reason to adjust the interest rate or add more monetary stimulus."

retracements and consolidation for more orders around same area again...

MM manipulating spread at 15 pips... filling more big orders for next move down... ds trade setting up on m5.....

and it did....

It is looking for contradictions, deviation (going back on their words) from the previous policy, is what the market is responding to. Distinguish between past, present and future. Distinguishes between the theory they have in mind and what BOE is actually doing in practice.
Monetary Policy Summary and minutes of the Monetary Policy Committee meeting ending on 3 February 2021

13
This strength in risky asset prices over recent months had been supported by expectations that monetary policy would continue to be accommodative as economies recovered. Short-term interest rates had accordingly remained low, in the United States and elsewhere. In particular, market participants judged that the Federal Reserve’s previously announced move to a form of average inflation targeting would result in a looser policy stance for a given economic outlook over the next couple of years.

1. But no looser policy stance yet.

At its meeting on 21 January, the ECB Governing Council had left its key policy interest rates and operations unchanged. At its 27 January meeting, the Federal Open Market Committee had left unchanged its target range for the federal funds rate and the pace of asset purchases.

1. In other words, despite the fact that we assume that our policy works and that we therefore keep it that way, there is currently no looser policy course underway because this will take time. So the target range has been achieved, only the desired effect is still a bit behind, which is why we leave it unchanged.

The MPC’s monetary policy toolkit 67 Since the previous MPC meeting, the Committee had been briefed on the findings of the Prudential Regulation Authority’s (PRA) structured engagement with PRA-regulated firms on the operational considerations around the possible implementation of a zero or negative Bank Rate. That engagement had taken place to explore the feasibility of such a monetary policy being introduced at some point in the future, were the MPC to judge it appropriate in order to meet the inflation target. As had been stressed in the information request that the PRA had sent to CEOs in October 2020, PRA-regulated firms had not been asked to begin taking steps to ensure that they were operationally ready to implement a negative Bank Rate, and the decision of the PRA to start engagement with PRA-regulated firms had not been intended to send any signal about the likelihood or imminence of such a policy


A consideration, and a contradiction:
69 There was a question for the MPC about whether, and if so at what point, the Committee should request that the PRA should engage with PRA-regulated firms again to enable firms to begin tactical preparations in order to be ready to implement a negative Bank Rate in a safe and sound way. On the one hand; such a request could be misconstrued as a signal that the MPC setting a negative Bank Rate was in prospect, or even imminent. This was a signal that the Committee did not wish to send. On the other hand; if the option of a negative Bank Rate in the future were to be a feasible one in practice within the monetary policy toolkit, then the tactical preparations would clearly need to commence at some point.

1. In theory they started by asking how the negative bank-rate can be implemted, but in practice they differ. They're already have taken steps in a somewhat passively way. BOE only seems to regret doing this in public. Apparently, the market reacted in an overanxious manner because of this “signal”.

Conclusion:
The deviation and the reason why the market is responding positively: "This was a signal that the Committee did not wish to send,,. It's kind of a “mini-scandal” in the sense that the market is also reacting to obvious scandals. They have made a mistake that has led to a misconception. “They go back on their words” = recognition of mistake = mini-scandal = contrary to what they actually meant = contradiction.


BoE Deputy Gov. Ramsden: - Negative rates can have less desirable consequences -

1. Is talking about the economically logical negative unintended additional effect.

Benefits from negative rates are state-contingent - Impact depends on the state of the economy and financial system - There is no question at the moment of the BoE using negative rates #BoE $GBP

1. Confirming the false signal from BOE and echoing that it is still undetermined.

Below the sentiment recovery:

Overview:
"Investors will monitor COVID-19 figures and the vaccines’ progressive rollout this week. The concluding chapter of the new US stimulus package was closed on Friday, February 5 after Vice President Kamala Harris used her deciding 50/50 vote in the Senate, to ensure the financial assistance would become law. Inflation (CPI) in the United States and China will become a focal point for investors and FX traders this week. A modest pick-up in the CPI rate could be bullish for markets if the translation is extra-economic growth in the Asian and Western Hemisphere pipeline. China’s inflation should come in at 1% month on month for January, and the US at 0.2% MoM/1.4% YoY. In May 2020, the index traded above 100, in a sustained bullish risk-on environment, with COVID-19 suppressed and confidence rising high in the new US administration and the economy recovering, then revisiting such a level for USD would be possible if the Federal Reserve does not add more stimulus.
Q4 GDP figures for the UK get published this week, and the comparisons between two neighbouring economies could be quite stark. Reuters predict Q4 results for the UK of -2.2% with an annual 2020 GDP of -8.0%. The Euro Area’s expectation is -0.7% for the final quarter of 2020, with a final year reading of -5%. Meanwhile, the new Bank of England governor Andrew Bailey took to the airwaves and TV studios last week and over the weekend to sell Q3 2021 growth boosted by spending, while quietly slipping in a projected figure of -4% contraction for the first quarter’s growth of 2021, ushering in a double-dip recession. the impact of Brexit, is already hitting the UK since its January 1 departure date. The UK is currently exporting 68% less to the EA, and 75% of lorries travel from the UK to (or back to) the EA empty. Perhaps Mr Bailey should compute that data into his rosy post-COVID-19 recovery assumptions. Sterling has recorded significant gains versus several peers over recent weeks, EUR/GBP is down -3.19% monthly, while GBP/USD is up 0.87%, GBP/JPY is up 3.07%, and GBP/CHF is up 3.18%. GBP optimism could fade if the Q4 and Q1 GDP figures miss forecasts, causing the BoE to intervene by way of more QE and lowering the current 0.1% base rate below zero for the first time in history."

now the triple timeframe system in one chart...

first i scan for bbs using dashboard...
then analyze chart... if it has a good setup i wait for bbs breakout with valid signal....