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  • #132,261
  • May 16, 2021 3:38am May 16, 2021 3:38am
Although there are projected distance targets on the upside, namely 1.2189, 1.2221 and 1.2228
I think that the current upside move taking the energy to exhaustion is a retracement (see the T2 score at 1.2141).

Bulls may have 3 more legs that they can utilize, but they would have to come from beyond the hourly E-32 and they could fail one by one.
There was a faith healer print on the hourly placing the end of the moratorium to 1.2188.

If what we get instead is a sideways movement with the hourly printing fractals and the down moves would re-capture the E-16 within 2 hours each (3x), that would mean reversing the lead.

If we get a move below the E-89 and price fails to come back and stay for 3 hourly closes, bears have the balls unconditionally and likely for a good 9 legs down, as for the last bull push itself to 1.2178 had a corrective leg count of 6. This means currently a balance of power.

If bulls manage to bring back the price above the E-89 and make those 3 closes, take on a hedge long.
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  • #132,262
  • May 16, 2021 3:56am May 16, 2021 3:56am
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  • #132,263
  • May 16, 2021 4:11am May 16, 2021 4:11am
Quoting corongumet
{quote} Check daily volume. Its need bear before up move. But letse now my perspective bullish
No worries bro.. Based on H4 chart below, I too expect some sell pressure from 1.2152 that could trigger pa falling back towards 1.2128 nearest support area BUT THEN I look at retail order statistics and it still gives me no clues that smart money thinks of selling.. Therefore with current picture in mind, even if I see a bearish gap or clear bearish signals right after market opening I still wouldn't be a seller.. I personally prefer to continue buying dips.. Worst case I stay on side lines.. Without bearish signals on H1 or on M15, selling is a big no for now! Anyway.. after market opens there will be a lot of time to decide.. Enjoy the remaining hours of your weekend.. Cheers
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Focus only on what truly matters!
  • #132,264
  • May 16, 2021 4:40am May 16, 2021 4:40am
Quoting Ata-Turkoglu
{quote} No worries bro.. Based on H4 chart below, I too expect some sell pressure from 1.2152 that could trigger pa falling back towards 1.2128 nearest support area BUT THEN I look at retail order statistics and it still gives me no clues that smart money thinks of selling.. Therefore with current picture in mind, even if I see a bearish gap or clear bearish signals right after market opening I still wouldn't be a seller.. I personally prefer to continue buying dips.. Worst case I stay on side lines.. Without bearish signals on H1 or on M15, selling...
Smart money selling at 1.2250 its possible price. But lets see. IMO i will add long on your support
  • #132,265
  • May 16, 2021 5:40am May 16, 2021 5:40am
DXY

Last week and This week.
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  • #132,266
  • May 16, 2021 6:04am May 16, 2021 6:04am
Quoting Traderview
DXY Last week and This week. {image}
I am on broadly the same page with the dxy, I posted this on another thread. We are looking at 90.12-90.20 to hold after the rejection from 90.9. Otherwise somewhere in the 90s. Of course, it is a strong daily downtrend and can simply keep pushing down.

One clue is in 10y treasury yields, we have a very bullish formation with a W pattern and flag, Friday was profit taking at 170bps but it looks like this will continue up, along with the dollar. Could be wrong
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  • #132,267
  • May 16, 2021 8:00am May 16, 2021 8:00am
Quoting mysterio
{quote} I am on broadly the same page with the dxy, I posted this on another thread. We are looking at 90.12-90.20 to hold after the rejection from 90.9. Otherwise somewhere in the 90s. Of course, it is a strong daily downtrend and can simply keep pushing down. One clue is in 10y treasury yields, we have a very bullish formation with a W pattern and flag, Friday was profit taking at 170bps but it looks like this will continue up, along with the dollar. Could be wrong {image}
Watch the RED TL. It's very important MONTHLY SUPPORT. As long as monthly doesn't close below this, dollar bulls are fine. Bulls need monthly closing above
91. 50.
  • #132,268
  • May 16, 2021 8:12am May 16, 2021 8:12am
Quoting Ata-Turkoglu
Happy Sunday folks.. Below I listed all the important S/R levels for Monday and maybe the whole week.. For now I keep buying dips while focusing on 1.2140 area support.. Giving enough room for potential volatility, I like to extend that support level a little lower towards 1.2116.. As long as above this zone my bias stays bullish.. That being said, the gate to the upper league sits currently around 1.2184.. *If my broker prints an additional weekend candle I will update these levels again before London opening.. I hope it helps {image}
ATA
Thanks for this
  • #132,269
  • May 16, 2021 8:21am May 16, 2021 8:21am
Quoting Traderview
{quote} Watch the RED TL. It's very important MONTHLY SUPPORT. As long as monthly doesn't close below this, dollar bulls are fine. Bulls need monthly closing above 91. 50.
Thank you, I may redraw mine. I may have connected it wrong. It looked as if it had broken and turned into resistance last week. But was prepared for the hard bounce from 90.
  • #132,270
  • May 16, 2021 9:29am May 16, 2021 9:29am
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  • #132,271
  • May 16, 2021 10:04am May 16, 2021 10:04am
Quoting corongumet
{quote} Smart money selling at 1.2250 its possible price. But lets see. IMO i will add long on your support
"Smart money selling at 1.2250 its possible price"


- Correct me if I'm wrong, please.
Will your sales entry be 1.2250 or 1.2150?
In my analysis can get there at 1.2250 ,,, but before that there will be a good drop in the market.
"No pain no gain"
  • #132,272
  • May 16, 2021 1:33pm May 16, 2021 1:33pm
Quoting macdulio
{image}
The inflation on this time period 2020 - 2021 - 2022 is artificially created and periodically injected in a calculated manner, and wasn't given by the regular market.
Assuming the correlation will definitely mislead the FX market rate. We should check into this correlation, fundamentally only after the end of the cycle of the Tapering.
  • #132,273
  • May 16, 2021 1:38pm May 16, 2021 1:38pm
Quoting macdulio
{image}
Higher inflation is only bullish for a currency when it promps the central bank to become hawkish and increase rates, otherwise it just erodes the value of a curreny. Think we will see the latter with the USD.
Another day, another dollar.
  • #132,274
  • May 16, 2021 1:51pm May 16, 2021 1:51pm
Quoting nic9man
{quote} Higher inflation is only bullish for a currency when it promps the central bank to become hawkish and increase rates, otherwise it just erodes the value of a curreny. Think we will see the latter with the USD.

Hi Nic, hope you had a good weekend ! Im staying up for the opening as we are in an ever increasing important level and moment, and if momentum holds just a little longer and the gap is not too crippling, this could be a good start for an even bigger next couple of weeks for bulls. Of course also because I have a couple trades above 2120, too close to Fridays close, that I will probably have to manage for a good hour.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #132,275
  • May 16, 2021 2:04pm May 16, 2021 2:04pm
I hope everyone had a good weekend!

I relaxed a lot.

Just wish you all a great start of the week with rules 100% followed,

steady calmness ,

clear-mindfulness,

sharp but clear observation,

and discipline of STEEL !!!


and here is my ridiculously silly metaphor for the weekend: Price lady, yummy pips and traders, one of my favourite animal!
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #132,276
  • Edited 5:13pm May 16, 2021 5:02pm | Edited 5:13pm
Quoting JBRolim
- In my opinion, the market is already open to the seller, so as soon as the market opens I will position my sale, looking for a minimum flow of 50 to 60 pip, let's see if I can get there.
Hi guys,
I entered in 1.2148 in the sale,,,

I wish you all a good week !!
"No pain no gain"
  • #132,277
  • Edited 6:24pm May 16, 2021 5:17pm | Edited 6:24pm
And here we go again, carnavallllllllllllll

Just sharing my fun/music/dancing positive feeling for the start of the week mates!

Bought a momentum+trend intraday trade at 2144, SL now 21366. Its like weekend never happened. 44% chance of making it. Usual profit much larger than SL, which will move soon to be.


Buy stop 2157, longterm momentum trade. Trailing stop start from 2045. TP trailing based on momentum. Destination unknown .

Quoting mtako
...Long term. A momentum daily setup will be confirmed if: A close today above 2131, and a break of that high needs to occur Monday or Tuesday, at the latest. If that happens, potential of a new and a much strong push up would have a good enough chance of unfolding, and my main stops could be pushed up to 2060. Now relaxing, eating a yummy cod fish plate and waiting for the bears to be done with their own push. next buy stop is 21416, SL below low of last 30m since entry. A touch of 2123 before and buystop cancelled. Usual TP would...
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #132,278
  • Edited 6:16pm May 16, 2021 5:29pm | Edited 6:16pm
I respect your analysis and opinion Mr. Mkato ...
I just didn't understand Giff who posted ... could you clarify better? ...
"No pain no gain"
  • #132,279
  • May 16, 2021 5:38pm May 16, 2021 5:38pm
The previous week, the candle formed like a dragonfly Doji, in theory, this is signaling indecision candle but the most direction to uptrend, because buyer pressure dominating after the decline, now I can trying to use trap pending order buy stop 1.21490 and place stop loss nearest support 1.21300
  • #132,280
  • May 16, 2021 6:12pm May 16, 2021 6:12pm
Quoting JBRolim
{quote} "Smart money selling at 1.2250 its possible price" - Correct me if I'm wrong, please. Will your sales entry be 1.2250 or 1.2150? In my analysis can get there at 1.2250 ,,, but before that there will be a good drop in the market.
Its defferent analysis and defferent targets.
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