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EURUSD only

  • #131,861
  • May 9, 2021 6:14pm May 9, 2021 6:14pm
Hey guys
I'm here with dem
Wishing everyone a good trading week ahead
on the sidelines for now just chilling
no trading until dawn
  • #131,862
  • May 9, 2021 6:35pm May 9, 2021 6:35pm
I entered a sales order
"No pain no gain"
  • #131,863
  • May 9, 2021 7:55pm May 9, 2021 7:55pm
ficture for bullish continuation
Attached Image (click to enlarge)
Click to Enlarge Name: 3b7ea7d934eda6f881a62011cecbc1d2.png Size: 83 KB
The Average Discount Everything
  • #131,864
  • May 9, 2021 8:10pm May 9, 2021 8:10pm
I see market in H1 over bought, I will continue with my sale,,,
"No pain no gain"
  • #131,865
  • May 9, 2021 8:11pm May 9, 2021 8:11pm
welcome back everyone - short @ 2166 sl 2186 tp open
--post hoc ergo propter hoc--
  • #131,866
  • May 9, 2021 10:20pm May 9, 2021 10:20pm
Good morning folks..

I still think that bull trend is not over.. I will sound like a broken record but still too many retail sellers.. I am looking forward to buy dips.. For now I am on sidelines until volume shows.. Cheers

*Based on H1, I have the feeling that this mini correction is limited with 1.2135/45 area..
Focus only on what truly matters!
  • #131,867
  • May 10, 2021 12:53am May 10, 2021 12:53am
Quoting Hutch
{quote} Tolerance is always relative. I guess you forgot June 2008 when the exchange rate for EURUSD went as high as 1.6036.
Sure. And I guess you forgot that 2008 was 13 years ago, and this is now.
  • #131,868
  • May 10, 2021 2:07am May 10, 2021 2:07am
Look at it objectively. His comment is not wrong at all. In 2008 the purchasing power parity was at 1.20 now it is above 1.40. This is the long-term anchor, so there is no reason to think it would be implausible that it could go to 1.60 again.
As said before, the ECB has no mandate to intervene directly in the currency markets, all they can do is talking cheap or lowering rates further. But inflation is coming up and negative rates are harmful, so there is on reason to believe that they will decrease rates further. Also they surely don't want to anger the US by acting as a currency maniuplator, besides the fact that this would breach their mandate.
Attached Image (click to enlarge)
Click to Enlarge Name: test.PNG Size: 32 KB
Another day, another dollar.
  • #131,869
  • May 10, 2021 2:44am May 10, 2021 2:44am
Just went long here at 1.2138... Highly annoying price action though.. Anyways.. Will let it run for some 8 hours or so.. Stops must go at least 24 pips lower..
Focus only on what truly matters!
  • #131,870
  • May 10, 2021 2:55am May 10, 2021 2:55am
Quoting Ata-Turkoglu
Just went long here at 1.2138... Highly annoying price action though.. Anyways.. Will let it run for some 8 hours or so.. Stops must go at least 24 pips lower..
This was actually too quick.. Quicker than I anticipated which always makes me suspicious.. Therefore I decided to close order with +10 pips... Will wait on side lines for a couple of hours because something nasty might be cooking..

On a side note: I shared this chart yesterday.. Now I am actually not sure if smart money will allow majority of retail to win by letting this pattern play out OR if they will fake it much higher before dumping.. This dilemma is the main reason I decided to wait a little! I would really like to swim next to the sharks BUT I think pattern is not fully ripe yet..
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H4-Pattern.png Size: 26 KB
Focus only on what truly matters!
  • #131,871
  • May 10, 2021 3:06am May 10, 2021 3:06am
I think 1.2144 will support on H4, potential dip to 1.2131. Also agree that 1.2210 is a region with selling pressure, would sell a few longs there.
Another day, another dollar.
  • #131,872
  • May 10, 2021 3:06am May 10, 2021 3:06am
1.215 Daily support
  • #131,873
  • May 10, 2021 3:07am May 10, 2021 3:07am
Meanwhile on my H1 chart: 1.2138 is nearest support and 1.2118 is its extra supportive assistant.. One thing for sure: I don't touch the sell button while price is above red line.. i.e. while above 1.2138..
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H1-Status-Update.png Size: 38 KB
Focus only on what truly matters!
  • #131,874
  • May 10, 2021 3:30am May 10, 2021 3:30am
From here I am guessing: 1.2161 will resist! Then 1.2143 will support.. As I said before I skip selling resistance and prefer to wait for going long at support! Time will tell..
Focus only on what truly matters!
  • #131,875
  • May 10, 2021 3:53am May 10, 2021 3:53am
I am confident in my sales entry of at least 50 pip.
I will monitor closely, H1 was my entry.
"No pain no gain"
  • #131,876
  • May 10, 2021 3:55am May 10, 2021 3:55am
Today's price action truly feels like a mess.. Nothing works as I imagine and here I am standing on side lines and got stuck in overthinking... BUT no more:

I am selling this: Sell 1.2173
Stops should go a little above 1.2216..
Focus only on what truly matters!
  • #131,877
  • May 10, 2021 3:57am May 10, 2021 3:57am
Quoting Ata-Turkoglu
Just went long here at 1.2138... Highly annoying price action though.. Anyways.. Will let it run for some 8 hours or so.. Stops must go at least 24 pips lower..
20 pips

Attached Image
Trends have a higher probability of continuing than not.
  • #131,878
  • May 10, 2021 4:01am May 10, 2021 4:01am
Quoting JBRolim
I am confident in my sales entry of at least 50 pip. I will monitor closely, H1 was my entry.
I wish you luck since I am in the same boat now.. Long live the sharks..
Focus only on what truly matters!
  • #131,879
  • May 10, 2021 4:04am May 10, 2021 4:04am
Quoting Ata-Turkoglu
{quote} I wish you luck since I am in the same boat now.. Long live the sharks..
,,,
Attached Image
"No pain no gain"
  • #131,880
  • May 10, 2021 4:09am May 10, 2021 4:09am
Quoting JBRolim
{quote} ,,,{image}
Damn.. if that's your boat I better leave.. don't mind me

Based on my out of control inner voice I closed my order again with another +10 pips.. I better take a nap for a while.. Laterrrrr Alligatorrrr.....
Focus only on what truly matters!
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