EURUSD only

Hi,
next areas of interest 1963 and much stronger 1983. Break or not? Will be interesting...

Happy weekend @ all
Chriss

Thanks for your good wishes!
I have some stages every day, using a dashboard that I programed by myself:

1. stop trading when reaching my daily target (e.g. 2% or value in Euro)
2. if the daily target has not been reached until a certain time of day (e.g. 15:00), wait until the OPEN trades are on break even, then close all open trades and stop trading
3. if these open trades do not close until a certain time of day (e.g. 18:00), close all open trades when the daily basket is at least in break even (or better plus ;-) ) and stop trading
4. if this basket break even has not been reached until a certain time of day (e.g. 21:00), close all open trades no matter if the day will end in minus... and stop trading

There is always another day, week...

I made this dashboard because I know myself: "ah, great day, let me continue trading..." (until I lose all wins)
It helps me to stay disciplined and to have more time for my family... trading is fun but anyway money is a serious issue.

Sorry Ata for this EURUSD off-topic

M15 Status Update

Together with my H1 analysis I kept scalp-buying dips and worked my way up to melt away drawdown with consistent small profits as usual.. Closed my main order together with my final 2nd scalp-order at break even here at 1.1961.. 1.1956 is aggressive buy level for now but I ignore that since week is almost over.. For me personally it was a tiring but profitable week.. Calling it a day..

Enjoy your weekends folks

Push it real good...

After that i know something, yeah a-b-c was done. But? For me i want to see what happend in monday.

I'm bullish on the dollar until we hear what FOMC say. A lot of inflationary pressures in the US and treasury yields just breached their recent high around 160bps. Stimulus cheques drop this weekend which will add fuel to the fire. The market has already priced in several rate hikes. DXY had a 0.5/0.618 retest of its breakout movement on Friday and is on the edge of the demand zone which created the bullish movement. Euro I expect to reach daily demand 1.1750/1.17, ideally after testing daily supply around 1.2050-1.21. I note the channel retest and overextended M formation, of which we just completed the retrace leg. So I won't be surprised by more bullish movement especially first thing, but ultimately I think we're headed down in the near term unless the Fed intervenes more heavily.

Note, I'm just an intraday scalper so take this with a grain of salt. I'm trying to practice my higher TF analysis as I want to incorporate more swing trades. Comments welcome. I find position trading/swing trading much more difficult technically and psychologically but I want to improve on it to increase the RR on some of my scalp trades. Occasionally I can get a 100 pip trade with a 10 pip SL if i'm aware of the HTF. Note i'm not attached to this view nor am I trading it and i'll flip around if the market says otherwise.

Daily S/R Levels for Monday

1. To me it seems like we are in a gray zone where there is currently balance between two forces.
2. Any attempt to break above red zone 1.2010/64 area could provide good sell opportunities..
3. Any attempt to break below blue zone 1.1935/1882 area could provide good buy opportunities..
4. While inside gray area I will prefer to follow intraday trend based on H1 and M15..
5. Right now it looks like this little bullish wave 4 is slowly coming to an end and despite the fact that I am currently with bulls, next week we are probably going back to bearish as soon as this correction is complete.. Therefore price behavior at or above 1.2010 resistance area will be highly crucial and bears must stay alert to catch a good sell entry!
6. If next week bulls don't even try breaking resistance and price goes straight down I would take it as an intentional delay operation of robber banks to lock in more sellers.. I will not sell this.. At least not before 1.2010 is violated!

*Please notice that big bearish wave 4(c) is also not complete yet and eventually there will be a wave 5 down! No rush!

I hope it helps

Hi everyone - been quite some time since I've posted here. Have peeked in and read along a little over the years but nothing consistent. Not sure if any of the active contributors now are from the past but looking forward to engaging with all of the new members and hope some of the old are still posting great analysis.

Currently no active funded trades only demo - going to sit and watch a bit...clear the cobwebs out some and get in synch.

Maybe this view could give an idea: will we continue in that channel? Keep oscillating downwards? Then there is at least room up for a long wick.

W1:

###############EDIT#######################
Just realized that this weeks close was exactly (!!!!) the low of the 31-Jan W1 candle
But what can we do with this information...?
#########################################

asset managers dumping longs into this rally

Till wednesday evening it will be ranging so monday, tuesday to collect your pips.
Then sit on your hands till after FOMC.

Scenarios 1-2

Today's Asian session quickly tested this support line and has now bounced off of it even though we had broken it on Friday. I think we'll either have a big drop in this area soon but if not, we will break the previous highs. We're also testing my 4h resistance line that's pretty dirty (1.19963 not shown, and the candle hasn't closed so it can still close above)

I am gonna look at 1.19969~1.19972 area for signs of accumulation. If I see this, I will short with a small 5-10 pip stop loss and will expect a massive drop for the rest of the day. No signs of accumulation and if we break through 1.19975 , I will look to scalp to long but not for long

Drop happened immediately after I posted this, I'm still expecting 1 more high at least before an actual drop. We'll see

FOMC this week on Wednesday.

Friday closed with a hammer bar, but still below 1.20,

Pretty sure traders will be watching this range set on Friday NY afternoon, and the overnight Asian session. Whether it holds and grinds up or rolls over and breaks out into an ABC pattern.

Day Trade Plan
Probably not much actions until the tight range resolves itself.
Swing Trade Plan
Also watching this range, since it's still below 1.20 I still lean bearish. If it does roll over I'll target a measured move down and see where it goes from there.
If it moves up I still will wait for a hold of 1.20.

Just an FYI, don't forget that US changed their clocks this weekend, so NY session will start an hour earlier for those in other countries!!