EURUSD only

Depends on the strategy. Perfect grid trading setup highlohighlohighlo. For eight hours now...

#EURUSD
Sell Order 1.2030

SL 1.2100

TP 1.1690

TP that deep? I'm only expecting 18800 or 18000 but that would be nice if we can go that lower.

Yes slow range price action is to attract more sellers...EURUSD up to 1.2030-50 then back down to 1.1690

I also know some guys who want to short again above 1.21 because the US economy is so strong. However, I have a strong value bias and I believe this will go way higher as the USD is massively overvalued and current FED policy and twin deficit are the required trigger to bring the USD finally down.
I also thought so in January highs and was hit badly in the sellof, but I think this was due to crowded positioning and because of too many early birds, now it looks better for the bulls. They might push through to 1.30 right away this year.

EU 100 Pip

Again, it was a great week for the Euro. This morning's Euro Inflation data came low and it continues to maintain a great advantage against US Dollar. It looks like i won't take profits yet and probably stay in my long position for another month. It was a big week against US Dollar overall.

Have a great weekend everybody! But i really wish Forex market would be open 24/7 (

does anyone use cot data?
just taking a look every now n then, do you see what i see or do you see something else?

i am interested in opinions of people that have studied such things

EURUSD, I got stopped out of the short position. Seems like EU hasn't finished wave 5 yet he writes.
Also some info about COT on that thread first page for those looking for that.

Have a good weekend all.

H1 Status Update for Monday

Based on my personal "unorthodox" way of Gann lines, these are my important S/R levels for Monday:

1. 1.1990 is upmost important resistance area bulls have to break for continuation!
2. Nearest support and potential retest area sits at 1.1955.. I am anticipating a visit towards this area..
3. If 1.1990 breaks next target would be 1.2022...
4. Overall 1.2066 is still in the books and possible to reach but it looks like it could end up as the ultimate high for the week!
5. Notice that lines are getting tighter, which could cause loads of choppiness!

I hope it helps.. Enjoy your weekends folks

I do. I don't trade based on that but i use it to compare my ideas with the professionals.

I actually see something else. Looking at the "open interest" can be tricky. It's the total position sizes from the traders and it can be manipulated by a trader who manages more money or takes more risks.

I prefer looking at the number of non-commercial traders and comparing them rather than looking at the open interest. That's more healthy i think and i saw the difference in few occasions.

Thanks Ata for your consistent hard work, you are appreciated! Have a good weekend and let's see what next week brings.

FXE at 10 mins

H and S both DXY and EURUSD

Market is moving from C to D (green) however we have a shallow B to C pullback and the current resistance is hitting what would be considered a 138 Fibonacci expansion.
The small B to C pullback gives a probability of 80% that the market will hit the 138 (WHERE IT IS AT NOW) and pullback to the B or even lower to the 38 Fibonacci retracement before moving to the D.
There is a 20% chance the market will just shoot straight to the D since it is only 70 pips on a daily chart which is reasonable with the EURUSD ADR.

Hope the weekend going well. Been reading back through this threads posts from the last week and another eur/usd one and not sure what to think. Had taken a small long in an attempt of a scalp Friday afternoon and was hoping to close but didn’t as only up 5 pips or so end of day. Has a stop just below the mid day low - my broker currently having login issues so can’t post entry but will later.

maybe I’ll get lucky (for a change) and have a nice gap up to start the week.

some of the posts I read were commenting on how tight a range this has been all week and that some big movement is brewing.

My humble analysis of the price action so far last week. (There is a certain degree of subjectivity here as is always the case in trading)

We can see from the H1 chart that the overall trend is still bearish. The swing highs of the red ellipse hasn't been broken and this is also the area where the bulls have been trying to push through the whole of last week.

Given that earlier last week the trend is quite obviously bearish, many bears had tried to short the "pullback" only to find that they couldn't find sufficient counterpart to do likewise. This led to multiple short coverings, pushing the price up ferociously as shown in the chart. It is therefore not surprisingly if many sideline bulls also join in to inflict pains on the bears.

Over the last week, we can see some volatility contraction. This does indicates either one of the 2 things:
1) Players are now standing on the sideline to wait for the eventual winners.
2) More sellers are coming to push the price down.

So how would I trade this?
I have a bearish bias on EURUSD. Reasons are as below:

1) Technically, this is still a downtrend.
2) 1.20 has proved to be a major resistance so far. Any attempts made by the bulls to even go near 1.20 has been rebuffed very quickly by the bears.
3) The previous price surge can be largely attributed to the short coverings by the bears. A total of 3 times in fact. The most recent price surge (Friday) has not been as impactful as the previous ones. In another word, the bulls are losing their momentum. The bears are now more confident in defending their levels while the bulls are now starting to fear for their erosion of profit.

Hence, I would look for an opportunity to go short when there is evidence that the bulls are trapped.