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  • #1,194,821
  • May 27, 2021 5:54am May 27, 2021 5:54am
Take a look at this sentiment on AUDNZD... the 95% are long and only 5% are short. Look at the AUDNZD daily chart.

Look at EURCZK retail are 100% long.

https://www.myfxbook.com/community/outlook
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  • #1,194,822
  • May 27, 2021 6:00am May 27, 2021 6:00am
Quoting Techanalyst
Take a look at this sentiment on AUDNZD... the 95% are long and only 5% are short. Look at the AUDNZD daily chart. Look at EURCZK retail are 100% long. https://www.myfxbook.com/community/outlook {image} {image}
intelligent move to shake out weak buyers

this is why i use 0.5%
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  • #1,194,823
  • May 27, 2021 6:00am May 27, 2021 6:00am
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...I don't like it........

  • #1,194,824
  • May 27, 2021 6:04am May 27, 2021 6:04am
Quoting F.g
{image} ...I don't like it........
welcome to mind games
  • #1,194,825
  • May 27, 2021 6:07am May 27, 2021 6:07am
Quoting PatienceFx
{quote} intelligent move to shake out weak buyers this is why i use 0.5% {image}
on my chart you can see only h4 is bearish

this means a full blast NORT is about to begin, its that easy
  • #1,194,826
  • May 27, 2021 6:34am May 27, 2021 6:34am
more buy orders placed taking margin used to 1%
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  • #1,194,827
  • May 27, 2021 6:39am May 27, 2021 6:39am
Simple info: price above weekly open, but below the half of its range and 100 sma on 1 hour chart.

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Looking for profitable short term trades ...|
  • #1,194,828
  • May 27, 2021 6:55am May 27, 2021 6:55am
Quoting Ata-Turkoglu
{quote} Price might get trapped between 1.2212 and 1.2188 for a while.. {image}
US GDP numbers out soon
  • #1,194,829
  • May 27, 2021 7:03am May 27, 2021 7:03am
So I got in short two pips shy of where I predicted to short.
This blast back and forth probably needed to suck in the bulls before going back to our originally scheduled bearish program.

Now it's time to see who believes we are still ranging, or we have started a short trend.
  • #1,194,830
  • May 27, 2021 7:25am May 27, 2021 7:25am
I am waiting for the consolidation to end. I doubt that will happen this week.
  • #1,194,831
  • May 27, 2021 7:31am May 27, 2021 7:31am
Quoting EvilEye
So I got in short two pips shy of where I predicted to short. This blast back and forth probably needed to suck in the bulls before going back to our originally scheduled bearish program. Now it's time to see who believes we are still ranging, or we have started a short trend.
  • #1,194,832
  • May 27, 2021 7:34am May 27, 2021 7:34am
Quoting PatienceFx
{quote} US GDP numbers out soon
Did little to move the needle in either direction.
  • #1,194,833
  • May 27, 2021 7:35am May 27, 2021 7:35am
Quoting PatienceFx
{quote}
Moved my stops to BE+1, and leaving the terminal.
Either I win big or win tiny. Either way I'm not losing and that's most of the battle won.
US session coming up. Let's see if it's the bulls or bear stops the US dealer wants...
  • #1,194,834
  • May 27, 2021 7:39am May 27, 2021 7:39am
Quoting sixconrads
{quote} Did little to move the needle in either direction.
The number of Americans filing new claims for unemployment benefits dropped by 38 thousand to 406 thousand in the week ending May 22nd, the lowest level since March 2020, when the pandemic first hit the US labor market. The figure came in also below market expectations of 425 thousand, adding to signs of a job market recovery but also due to a decision by many state governments to withdraw from federal unemployment benefit programs.
  • #1,194,835
  • May 27, 2021 7:51am May 27, 2021 7:51am
Quoting PatienceFx
{quote} The number of Americans filing new claims for unemployment benefits dropped by 38 thousand to 406 thousand in the week ending May 22nd, the lowest level since March 2020, when the pandemic first hit the US labor market. The figure came in also below market expectations of 425 thousand, adding to signs of a job market recovery but also due to a decision by many state governments to withdraw from federal unemployment benefit programs.
The question is what job market recovery? Is it full time permanent jobs or is it part time survival jobs just to put food on the table and roof over the head? This changes nothing for now. The economy does not recover over night. USD is still weak and will be for a while. EURUSD bullish. State governments decision to withdraw unemployment benefits will cause even more trouble in the country as people will not have any income, no jobs and it will be bad.
  • #1,194,836
  • May 27, 2021 7:53am May 27, 2021 7:53am
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DOW 30 SL to be hit withing seconds......

  • #1,194,837
  • May 27, 2021 8:29am May 27, 2021 8:29am
Remember the minor retracements I talked about? Yesterday's Daily candle closed Bearish Engulfing. This was telling us that more bearish activity could be expected.

Now look at how price got rejected at the 38.2% fib of the Bearish Engulfing candle's range. A sell limit order could have been set there for a great entry or a scalp.

EURUSD Daily
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Learn from your mistakes and march on.
  • #1,194,838
  • May 27, 2021 8:38am May 27, 2021 8:38am
Quoting here2there
Remember the minor retracements I talked about? Yesterday's Daily candle closed Bearish Engulfing. This was telling us that more bearish activity could be expected. Now look at how price got rejected at the 38.2% fib of the Bearish Engulfing candle's range. A sell limit order could have been set there for a great entry or a scalp. This stuff works! EURUSD Daily {image}
I for one would like to perfect this method. I need to get better at recognizing these opportunities. With that said, are you looking for a continued move higher or do you see further retracement?
  • #1,194,839
  • May 27, 2021 8:54am May 27, 2021 8:54am
Quoting sixconrads
{quote} I for one would like to perfect this method. I need to get better at recognizing these opportunities. With that said, are you looking for a continued move higher or do you see further retracement?
Despite the fact that we have a Bearish Engulfing candle on the Daily screaming at us to go short, we need to keep in mind that USD is extraordinarily fragile. And while it is true that Japanese candlestick patterns are more reliable on the Daily chart than lower time frames, there is no guarantee they will work out. So we have to look for other clues for confirmation.

Having said that, there is an area of strong support at 21846 - 21743. If price closes below 21743, then I would think that it is likely more bearish activity will occur, possibly to revisit the 8 Period Weekly EMA.

Alternatively, if a candle's opposite (bearish to bullish) closes above the high of the previous candle on the 4HR, then more bullish activity will likely follow.

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Learn from your mistakes and march on.
  • #1,194,840
  • May 27, 2021 9:13am May 27, 2021 9:13am
You don't have to get into a trade every day to come out a winner at the end of the Month. Sometimes it could take days of waiting for the right opportunity to come. Overtrading could lead to ruin. As they say, 'less is more.' Be patient and wait for high probability trading setups. You will be happier for it.
Learn from your mistakes and march on.
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