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  • #133,181
  • May 27, 2021 3:31am May 27, 2021 3:31am
H1 Status Update

I keep moving or cloning my angled line higher with each candle as usual.. For now 1.21935 is current aggressive buy level..

Please notice intraday resistant coming from median line of my envelope: 1.2214 area roughly!
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H1-Status-Update.png Size: 32 KB
Focus only on what truly matters!
  • #133,182
  • May 27, 2021 3:33am May 27, 2021 3:33am
Also GDP news coming out today which could strengthen the dollar and push EURUSD further south so there are few factors to consider. Price currently struggling to get through 1.2212 pivot level. Also the fact that price today made a lower low than previous day makes me not want to consider going long anymore. Picture isnt clear for me. I will just monitor for today manage my short and see if I see a long signal tomorrow lol
  • #133,183
  • May 27, 2021 3:34am May 27, 2021 3:34am
Quoting nic9man
{quote} I thought the same yesterday when it went from 1.2020 to 1.2040 but then it suddenly dropped like a stone. Is this move any different?
Both sides are currently trying to balance each other out and the real shift of powers has not been completed yet or maybe never will.. In other words for now it is still "bull weakness" and not "bear strength", therefore I prefer to keep buying dips.. My two cents
Focus only on what truly matters!
  • #133,184
  • May 27, 2021 3:48am May 27, 2021 3:48am
Quoting sharingan9
{quote} Sellers pushed for a lower low today but price is now bouncing off of weekly (blue line) where people took profits from the drop yesterday. But then bulls have bought price up to the daily pivot(white line 1.2212) where sellers can continue the downtrend or buyers can break above it to change back to bullish sentiment {image}
Looks like sellers seek to continue the dowtrend however if price retraces and breaks that high formed at 1.2212 then it could be long but since the sellers formed a lower low than yesterday im not going long at all today. Starting to seem like a bull trap

Attached Image (click to enlarge)
Click to Enlarge Name: bulltrap.PNG Size: 72 KB
  • #133,185
  • May 27, 2021 3:48am May 27, 2021 3:48am
A dramatic dip, but much needed...
  • #133,186
  • May 27, 2021 3:52am May 27, 2021 3:52am
Median line of H1 channel has rejected.. But bull story won't end here I guess.. Buying dips for now looks like the better option.. But where to buy is important.. Imho, my logic is: buy as close as it gets to 1.2190 roughly!

*One important thing: Bulls have to keep H1 candles opening above 1.2190 (i.e. above GREEN line)... Any H1 candle closes below could mean bearish continuation!
Focus only on what truly matters!
  • #133,187
  • May 27, 2021 3:57am May 27, 2021 3:57am
I am daring to buy 1.2185... Don't try at home! Stops should go at least 24 pips or lower..

*...and no matter what we do there is always draw down
Focus only on what truly matters!
  • #133,188
  • May 27, 2021 4:01am May 27, 2021 4:01am
Quoting Ata-Turkoglu
I am daring to buy 1.2185... Don't try at home! Stops should go at least 24 pips or lower.. *...and no matter what we do there is always draw down
Waiting to break below 2175 to start selling all the way...
Trade to enjoy... Money is after!
  • #133,189
  • May 27, 2021 4:02am May 27, 2021 4:02am
Quoting Ata-Turkoglu
I am daring to buy 1.2185... Don't try at home! Stops should go at least 24 pips or lower.. *...and no matter what we do there is always draw down
You are brave - think the wedge is about to break, the down moves happen so much quicker since yesterday, how can this be? Market makers must have conspired to act bearish now.
Another day, another dollar.
  • #133,190
  • May 27, 2021 4:02am May 27, 2021 4:02am
Quoting Ata-Turkoglu
I am daring to buy 1.2185... Don't try at home! Stops should go at least 24 pips or lower.. *...and no matter what we do there is always draw down
By the way: H1 candle just closed below my GREEN line.. I have to abort this long order.. Closing with +2 pips.. Sighs! I stay away for another 30 minutes or so..
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H1-Status-Update.png Size: 33 KB
Focus only on what truly matters!
  • #133,191
  • May 27, 2021 4:03am May 27, 2021 4:03am
IT'S A TRAP !

https://thumbs.gfycat.com/Forthright...rk-max-1mb.gif
  • #133,192
  • May 27, 2021 4:04am May 27, 2021 4:04am
Quoting nic9man
{quote} You are brave - think the wedge is about to break, the down moves happen so much quicker since yesterday, how can this be? Market makers must have conspired to act bearish now.
There is no conspiracy. Fed member yesterday confirmed that they will start talking tapering. Under this condition bulls are holding well, this should have been under 1,21 already, and my guess is it will get there very soon, maybe this two days.
  • #133,193
  • May 27, 2021 4:06am May 27, 2021 4:06am
Short at pivot.. white line possible target
Have to take care 1.216 trend line first though
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 39 KB
Don't mind me.. i'm crazy
  • #133,194
  • May 27, 2021 4:10am May 27, 2021 4:10am
Quoting BabaVanga
{quote} There is no conspiracy. Fed member yesterday confirmed that they will start talking tapering. Under this condition bulls are holding well, this should have been under 1,21 already, and my guess is it will get there very soon, maybe this two days.
I understand, but first of the actual taper beginning is months away and still data dependent, second many FED officials have been saying this already before yesterday with nothing happening and third this will not change anything regarding the extremely negative real yields the US is facing, as inflation is flying off while rates are kept low. So I agree that the market might play this taper talk aggressively, but it is not a "must" in my mind.
Another day, another dollar.
  • #133,195
  • May 27, 2021 4:16am May 27, 2021 4:16am
Quoting nic9man
{quote} I understand, but first of the actual taper beginning is months away and still data dependent, second many FED officials have been saying this already before yesterday with nothing happening and third this will not change anything regarding the extremely negative real yields the US is facing, as inflation is flying off while rates are kept low. So I agree that the market might play this taper talk aggressively, but it is not a "must" in my mind.
I was just saying that there is no conspiracy. Now you have so far Bank of Canada and Bank of New Zealand that are raising rates under the same conditions in witch USA is. Deduction comes that FEDs are denying the fact in public to prevent usd from getting over appreciated. The market knows and when sees that times has come to talk the dollar up, with tapering and maybe interest rates later, it reacts by buying it while is cheap. We do tend all to buy while is cheap, thats why we buy the rumor right?
PS: A drop of 80 pips is not aggressive at all in my books.
  • #133,196
  • May 27, 2021 4:25am May 27, 2021 4:25am
Quoting BabaVanga
{quote} I was just saying that there is no conspiracy. Now you have so far Bank of Canada and Bank of New Zealand that are raising rates under the same conditions in witch USA is. Deduction comes that FEDs are denying the fact in public to prevent usd from getting over appreciated. The market knows and when sees that times has come to talk the dollar up, with tapering and maybe interest rates later, it reacts by buying it while is cheap. We do tend all to buy while is cheap, thats why we buy the rumor right? PS: A drop of 80 pips is not...
By aggressive I meant how fast it is dropping. Your reasoning is absolutely fine. Broader dollar weakness does probably need the confirmation of the FED keep rates low, which is a long process, although it can already be anticipated as the FED cannot hike while Biden takes on billions of billions of debt.
Another day, another dollar.
  • #133,197
  • May 27, 2021 4:50am May 27, 2021 4:50am
I am now inclined to sell 1.2196/1.2203 area.. Waiting for an entry point..

*FF retail order statistics started to favor bears.. 55% of buyers now.. Better for bears
Focus only on what truly matters!
  • #133,198
  • May 27, 2021 4:52am May 27, 2021 4:52am
This pair starts to resemble a cloud full of water vapour just a moment before it starts to precipitate. But that can only be the illusion that needs to be given.
  • #133,199
  • May 27, 2021 4:55am May 27, 2021 4:55am
- The MARKET is already programmed for that to happen ... so relaxing is my ally ...
- Don't try to find it, you have to do it right, here the mistake is fatal ... (I'm still bought) ...
"IMAGINATION IS THE ACTION TEST"
"No pain no gain"
  • #133,200
  • May 27, 2021 5:00am May 27, 2021 5:00am
Meanwhile on H4..

1.2230 is key resistance..

1.2175 is key support..

Anything between: Bears have the upper hand but choppy!
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H4-Projections.png Size: 31 KB
Focus only on what truly matters!
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