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EURUSD

  • #1,193,341
  • Apr 27, 2021 4:36pm Apr 27, 2021 4:36pm
Quoting OnlineAddict
{quote} I don't see any breakout. {image}
I will explain why I drew my trendline the way I did in another post.
  • #1,193,342
  • Apr 27, 2021 4:38pm Apr 27, 2021 4:38pm
Attached Image
Only an idiot knows with certainty to where the market is going.
  • #1,193,343
  • Apr 27, 2021 4:39pm Apr 27, 2021 4:39pm
Quoting Techanalyst
{quote} Leave this thread. You are a troll, no one respects you here. You have done nothing but trolling. Leave this thread or start posting charts and analysis.
Wrong. You, and perhaps a few others who are your buddies don't respect me. It's always been that way. But I doubt everyone here feels the same way. You think very highly of your opinions. Too highly.

No, I will not leave this thread. If you don't like my comments, then put me on ignore. I don't take orders from you. And you have no right to tell me to leave the thread. You apparently don't believe in Free Speech! I would hate to see what a country would be like with you in charge!
Learn from your mistakes and march on.
  • #1,193,344
  • Apr 27, 2021 4:41pm Apr 27, 2021 4:41pm
Quote
That's my point! USD is stronger than BTC.

That's not what I meant, I was talking about volume, not strength. Strength is only relative when compared to something else. If you look at the chart of BTCUSD you would see it is in an upward trend, does that mean BTC us stronger than USD?

Quote
When USD increases to a certain degree in strength, BTC is negatively impacted to a certain degree.

The data shows otherwise. If it was this simple everyone would be rich.

Quote
And when BTC shows weakness, it negatively impacts almost the entire altcoin market. Knowing this helps in trading the crypto market more successfully.

This is the only part you got right.
  • #1,193,345
  • Apr 27, 2021 4:41pm Apr 27, 2021 4:41pm
Quoting here2there
{quote} Wrong. You, and perhaps a few others who are your buddies don't respect me. It's always been that way. But I doubt everyone here feels the same way. You think very highly of your opinions. Too highly. No, I will not leave this thread. If you don't like my comments, then put me on ignore. I don't take orders from you. And you have no right to tell me to leave the thread. You apparently don't believe in Free Speech! I would hate to see what a country would be like with you in charge!
Leave this thread. You are still trolling.
  • #1,193,346
  • Apr 27, 2021 4:42pm Apr 27, 2021 4:42pm
Quoting viptrading
{quote} That's not what I meant, I was talking about volume, not strength. Strength is only relative when compared to something else. If you look at the chart of BTCUSD you would see it is in an upward trend, does that mean BTC us stronger than USD? {quote} The data shows otherwise. If it was this simple everyone would be rich. {quote} This is the only part you got right.
He has no clue what's he doing.
  • #1,193,347
  • Apr 27, 2021 4:44pm Apr 27, 2021 4:44pm
Attached Image
Only an idiot knows with certainty to where the market is going.
  • #1,193,348
  • Apr 27, 2021 4:47pm Apr 27, 2021 4:47pm
Here it is.... no correlation between BTCUSD.

I posted this before...
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  • #1,193,349
  • Apr 27, 2021 4:50pm Apr 27, 2021 4:50pm
BTCUSD not correlated.
Attached Image (click to enlarge)
Click to Enlarge Name: BTCUSD.png Size: 175 KB
  • #1,193,350
  • Apr 27, 2021 4:54pm Apr 27, 2021 4:54pm
Quoting viptrading
{quote} That's not what I meant, I was talking about volume, not strength. Strength is only relative when compared to something else. If you look at the chart of BTCUSD you would see it is in an upward trend, does that mean BTC us stronger than USD? {quote} The data shows otherwise. If it was this simple everyone would be rich. {quote} This is the only part you got right.
What do you see here?

Attached Image (click to enlarge)
Click to Enlarge Name: BTCUSD.png Size: 63 KB
Learn from your mistakes and march on.
  • #1,193,351
  • Apr 27, 2021 4:56pm Apr 27, 2021 4:56pm
Quoting Techanalyst
{quote} Leave this thread. You are still trolling.
Put me on ignore. That will solve your problem with me.
Learn from your mistakes and march on.
  • #1,193,352
  • Apr 27, 2021 4:56pm Apr 27, 2021 4:56pm
I am done for now. Some people are immune to good advice. Going to have dinner. Trade safe.
  • #1,193,353
  • Apr 27, 2021 4:56pm Apr 27, 2021 4:56pm
Quoting here2there
{quote} Put me on ignore. That will solve your problem with me.
Trolling.
  • #1,193,354
  • Apr 27, 2021 4:59pm Apr 27, 2021 4:59pm
Quoting Techanalyst
I am done for now. Some people are immune to good advice. Going to have dinner. Trade safe.
When you actually give good advice, and I see it, then I will accept it. Thus far, you have been behaving very poorly in this thread today.
Learn from your mistakes and march on.
  • #1,193,355
  • Apr 27, 2021 5:03pm Apr 27, 2021 5:03pm
Quoting OnlineAddict
{quote} I don't see any breakout. {image}
Ok, back to this post.

So you have a good point, why did I draw my lines where I did instead of tip to tip how you did? The answer partially lies in price action. Allow me to explain.

#1 I have a bias that EUR is undervalued when compared to USD at this point, this bias I built from fundamental and technical analysis. In other words I believe that the chances of a probable rise outweigh the chances or a probable fall for EURUSD.

#2 The price is in an upward trend, so the momentum is in in favor of the bulls in this case. (The trend is your friend until it ends, as they say)

#3 Price action (I will explain with screenshots)

This is how you drew your trend line. I believe this to be an incorrect projection for multiple reasons.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.PNG Size: 51 KB


1. Connecting "tips" in this way doesn't really make any sense since they are not reacting to the same levels therefore they dont have anything in common.

2. You are ignoring the larger trend which is still up if you zoom out you can see this by the longer more established trend, which has yet to be broken, therefore it is more valid imo. Honestly the only reason why I even drew the line on top was because of the potential breakout that is happening right now, which again, I would not trade because I don't trade off daily charts and I do not like to buy high/sell low.

Now let me answer why I drew my line this way instead with a visual.

Attached Image (click to enlarge)
Click to Enlarge Name: 2.PNG Size: 56 KB


And Zoomed out for context.

Attached Image (click to enlarge)
Click to Enlarge Name: 3.PNG Size: 69 KB

I hope this helps.

And, please do not come back here in a few days screaming I told you so if in fact the price of EURUSD goes down from here, this is just a projection, and I am not even sure how high probable of a setup it is since I don't trade these setups, but I do understand them.
  • #1,193,356
  • Apr 27, 2021 5:07pm Apr 27, 2021 5:07pm
Quoting viptrading
And, please do not come back here in a few days screaming I told you so if in fact the price of EURUSD goes down from here, this is just a projection, and I am not even sure how high probable of a setup it is since I don't trade these setups, but I do understand them.
No worries, I think EU will go down towards 1820(or 93+ on USD), no matter what we draw on the chart. I only do these drawings to kill time, but I still prefer PA, because any line we draw can be broken anytime. And I see the USD chart bottoming hard...so its only EU shorts for me from here...if it will be a correction or reversal, I have no clue.
Everyone can see the chart, but only a few can actually read it.
  • #1,193,357
  • Apr 27, 2021 5:09pm Apr 27, 2021 5:09pm
Quoting here2there
{quote} What do you see here? {image}
A logical fallacy.
  • #1,193,358
  • Apr 27, 2021 5:11pm Apr 27, 2021 5:11pm
Press your sell button, there's some 50 pip profit move to around 1.2040 first, thank me later.
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #1,193,359
  • Apr 27, 2021 5:14pm Apr 27, 2021 5:14pm
Quoting OnlineAddict
{quote} No worries, I think EU will go down towards 1820(or 93+ on USD), no matter what we draw on the chart. I only do these drawings to kill time, but I still prefer PA, because any line we draw can be broken anytime. And I see the USD chart bottoming hard...so its only EU shorts for me from here...if it will be a correction or reversal, I have no clue.
For some reason the screenshots were not showing in the post but they should be fixed now. I am still bullish but sitting on my hands for now since the price is too high for me to be interested in buying.
  • #1,193,360
  • Apr 27, 2021 5:20pm Apr 27, 2021 5:20pm
Right now the only two trades I am in for Forex is a sell on CHFZAR and a buy on ZARJPY.
Not that anyone asked...
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