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EURUSD only

  • #128,681
  • Mar 16, 2021 6:10am Mar 16, 2021 6:10am
Quoting pipfarm
{image}

Personally i will not long even though it looks that it is going up , main reason being no resistance has been broken and it just looks too easy to go long in the middle of nowhere.

It might just be going up to the old support i marked on the chart

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Follow The Markets Structure - Patience and Discipline
  • #128,682
  • Edited 7:34am Mar 16, 2021 6:36am | Edited 7:34am
H4 base breakout for now
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I don't know what Retail Sales will bring, but descending triangle still in play until 1.1960ish can break.
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  • #128,683
  • Mar 16, 2021 7:32am Mar 16, 2021 7:32am
Weak numbers

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  • #128,684
  • Mar 16, 2021 7:41am Mar 16, 2021 7:41am
Quoting xsquared
Weak numbers {image}
Yes but when you look at the revisions of the previous numbers one could ask what value the actual ones have.
Trends have a higher probability of continuing than not.
  • #128,685
  • Edited 2:57pm Mar 16, 2021 7:47am | Edited 2:57pm
Quoting xsquared
Weak numbers {image}
Of course they are - it WAS expected!

This is nothing more than a buy the dip opportunity. EU will likely be range-bound between 1.1920 and 1.1980 until the FOMC. I am currently long and playing the range.
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Edited: 3:30 pm I was wrong! Lost my initial position to my Stop. Re-entered 1.1898 still expecting a pop up to 1.20. With the FOMC tomorrow I don't expect much movement between now and then.
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...because you never know - until you do!
  • #128,686
  • Mar 16, 2021 8:15am Mar 16, 2021 8:15am
I will go for the short makes more sense, at least to me with the descending triangle pattern and higher timeframes fit in better.



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Follow The Markets Structure - Patience and Discipline
  • #128,687
  • Mar 16, 2021 8:15am Mar 16, 2021 8:15am
i see bearish starting getting upper hand as time goes by.

we might see 1.17 after fomc announcement !
  • #128,688
  • Mar 16, 2021 8:18am Mar 16, 2021 8:18am
Quoting Ata-Turkoglu
Hourly candle is about to close in 9 minutes and we must watch potential bear pressure coming at 1.1947 for the next hour! *I am not selling here but I will stay on side lines until I see if that resistance level gets broken or not..
1.1947 area was a clear rejection.. I am still on side lines.. No rush in buying dips.. Looking from bears' point of view, everything is up to 1.1919 support area now..
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Focus only on what truly matters!
  • #128,689
  • Mar 16, 2021 8:20am Mar 16, 2021 8:20am
A Very tight and confusing range play there, 1917 for another bounce. Last 4 hour close not so good
  • #128,690
  • Mar 16, 2021 8:50am Mar 16, 2021 8:50am
1.1910 - 1.1915

acted support till now which has broken
sideways
  • #128,691
  • Mar 16, 2021 8:53am Mar 16, 2021 8:53am
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  • #128,692
  • Mar 16, 2021 9:01am Mar 16, 2021 9:01am
Now that 1.191 has been broken it's time to sell there are no more buyers!!! ... just kidding

Finally after waiting on the sidelines forever , I'm looking for my pattern to buy this. My guess is it will happen in this 15 min or within the next 2 (the low of the day) before going up. If it doesn't happen soon, I think we can just drop lower. We were in this area far too long for me to make trades clearly. Waiting on my pattern to guide me
  • #128,693
  • Mar 16, 2021 9:01am Mar 16, 2021 9:01am
Quoting lucky1359
{image}
So what?
  • #128,694
  • Mar 16, 2021 9:27am Mar 16, 2021 9:27am
first tp bearish 1.18702 and next target 1.18298
The Average Discount Everything
  • #128,695
  • Mar 16, 2021 9:28am Mar 16, 2021 9:28am
Quoting Kyuu
Now that 1.191 has been broken it's time to sell there are no more buyers!!! ... just kidding Finally after waiting on the sidelines forever , I'm looking for my pattern to buy this. My guess is it will happen in this 15 min or within the next 2 (the low of the day) before going up. If it doesn't happen soon, I think we can just drop lower. We were in this area far too long for me to make trades clearly. Waiting on my pattern to guide me
This isn't looking like the pattern I expected for price to go higher, I will need to see how 1.1895 reacts or else 1.1932 was just a retest of broken support. We'll figure out soon
  • #128,696
  • Mar 16, 2021 9:30am Mar 16, 2021 9:30am
actually the price cannot move due to the retail trader's open order, because the market always has buy and sell orders from smart money. Don't ever think retail can move prices. Prices can only be moved by buy and sell orders from smart money. The retail market is not an interbank market, but the OTC market from brokers and LPs, so it can be said that 80% of retail orders do not enter the real market.

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The Average Discount Everything
  • #128,697
  • Mar 16, 2021 9:40am Mar 16, 2021 9:40am
After bears stopped me out with little profit
I have set another buy limit @ 1.18923
Sl 50 pips
Tp 1.19611
Risk comes from not knowing what to do
  • #128,698
  • Mar 16, 2021 10:09am Mar 16, 2021 10:09am
I'm looking to buy 1.189-1.1895 area if my pattern shows up, but this consolidation area we just had looks 100% like downside continuation to me. We will see
  • #128,699
  • Mar 16, 2021 10:16am Mar 16, 2021 10:16am
Quoting hesron
actually the price cannot move due to the retail trader's open order, because the market always has buy and sell orders from smart money. Don't ever think retail can move prices. Prices can only be moved by buy and sell orders from smart money. The retail market is not an interbank market, but the OTC market from brokers and LPs, so it can be said that 80% of retail orders do not enter the real market. {image}
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  • #128,700
  • Mar 16, 2021 10:19am Mar 16, 2021 10:19am
Quoting Wavegarrick
{quote} Hi Guys, Short trade opened with confirmation of a short cycle from a 4hr perspective and 45 pip stop loss. I am still hopeful for a test of my yearly pivot at 1.1721. I will set this trade to b/e as soon as possible. Trade safe Cheers. {image}
Hi Guys,
So far so good. I am at the beginning of a short cycle and added more trades on the retrace today with all trades locked in. Important for a daily close below 1.1900. Weekly sup 1 at 1.18604 and of course the mid-round number at 1.18500. I am hoping momentum can carry me through. We shall see.
Trade safe,
Cheers.
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