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  • #134,421
  • Jun 9, 2021 11:28pm Jun 9, 2021 11:28pm
Open a buy at 1.21662
SL 20 Pips
TP open but hoping at least 20 Pips with this trade. Let's see how it goes
  • #134,422
  • Jun 10, 2021 12:02am Jun 10, 2021 12:02am
Quoting SteFX85
Dollar to regain strength? I believe intermediate wave B may be complete. Inflation numbers coming tomorrow, can expect high numbers. Fed talking about tapering, but are not going to. Tapering talks may spook the stock market en cause risk off environment, with money flow to safe haven assets. Inflation is a bullish sign for the dollar. I would expect a medium term wave down, break of basechannel would mean wave 3 of intermediate C. C can go to 88.6% of primary 1, in this case we may see a period of distribution first. I do believe however the dollar...
What you are saying is contradictory. Inflation is only bullish for the dollar if it prompts the FED to be hawkish, meaning tapering at least, as a signal of earlier rate hikes. Otherwise inflation just decreases the value of the dollar.
Another day, another dollar.
  • #134,423
  • Jun 10, 2021 12:11am Jun 10, 2021 12:11am
Good morning y'all! I have been observing the PA for a while, and was thinking of opening a short trade (as the selling pressure seems to not have vanished over the night), TP @ main trendline, probably around 1.2127 or so.
Then I can see someone opening a long trade, while I can't see a good reason to go long from here.
Undecided for now, thus staying on the sidelines.
Happy trading everyone!
  • #134,424
  • Jun 10, 2021 12:21am Jun 10, 2021 12:21am
if bulls wants to buy , it is time , but must be with full power or never coming for today .... at least test level 1.21827
The Average Discount Everything
  • #134,425
  • Jun 10, 2021 12:27am Jun 10, 2021 12:27am
Close my short for 45 pips. I will take buy dip. SL 9 pips
  • #134,426
  • Jun 10, 2021 12:47am Jun 10, 2021 12:47am
Quoting nic9man
{quote} What you are saying is contradictory. Inflation is only bullish for the dollar if it prompts the FED to be hawkish, meaning tapering at least, as a signal of earlier rate hikes. Otherwise inflation just decreases the value of the dollar.
Inflation is caused by printing more money. Higher CPI numbers come after the printing and cause tapering(stop printing) expectations and hawkish fed (higher rates) is dollar positive in the future, so bearish on eurusd.
Read cpi description on FF btw, the reaction comes on the expectation.
What's that smell? ---- I smell money!
  • #134,427
  • Jun 10, 2021 12:55am Jun 10, 2021 12:55am
Quoting SteFX85
{quote} Inflation is caused by printing more money. Higher CPI numbers come after the printing and cause tapering(stop printing) expectations and hawkish fed (higher rates) is dollar positive in the future, so bearish on eurusd. Read cpi description on FF btw, the reaction comes on the expectation.
Yeah. Its same idea. All market could be take a short.
  • #134,428
  • Jun 10, 2021 12:56am Jun 10, 2021 12:56am
Quoting SteFX85
{quote} Inflation is caused by printing more money. Higher CPI numbers come after the printing and cause tapering(stop printing) expectations and hawkish fed (higher rates) is dollar positive in the future, so bearish on eurusd. Read cpi description on FF btw, the reaction comes on the expectation.
Yes that's correct, I was just saying that it is contradictory that you do not expect the FED to taper, but you still expect inflation to be USD bullish. So you probably meant that the market expects the FED to taper but you don't. This would mean that if you are right, then any bullish dollar rally should be short lived and starve as soon as FED officials do not intensify taper talk as expected by the market. Is that your scenario?
Personally I am also of the opinion that the FED will not react much to a stronger inflation at this point, but I expect the market to be on the same side, meaning that higher inflation could be seen as USD negative right away if the market believes in a continuation of the dovish FED stance.
Another day, another dollar.
  • #134,429
  • Jun 10, 2021 12:59am Jun 10, 2021 12:59am
Quoting nic9man
{quote} Yes that's correct, I was just saying that it is contradictory that you do not expect the FED to taper, but you still expect inflation to be USD bullish. So you probably meant that the market expects the FED to taper but you don't. This would mean that if you are right, then any bullish dollar rally should be short lived and starve as soon as FED officials do not intensify taper talk as expected by the market. Is that your scenario?
That's what I am thinking correct. Don't expect fed to raise rates but the reaction comes from the market on probably high cpi figures. Ofcourse it's only my theory..
Btw I also think the ECB will begin to ease.
And a nasty monthly EMA200 resistance
Grtz
What's that smell? ---- I smell money!
  • #134,430
  • Jun 10, 2021 12:59am Jun 10, 2021 12:59am
Just watching some price action

Attached Image (click to enlarge)
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Looking for profitable short term trades ...|
  • #134,431
  • Edited 1:35am Jun 10, 2021 1:13am | Edited 1:35am
Watching my weekly PP at 1.21742 as My resistance now
Make it Green
  • #134,432
  • Edited 2:22am Jun 10, 2021 1:45am | Edited 2:22am
Quoting louisfx
Watching my weekly PP at 1.21742 as My resistance now
if 1.21742 is resistance ..... so time for sell .... then 1.21451 as key price going up or down .... so we have big volatility for up or down later
...... if now going up , that is only price manipulation .... or for quick reaction .... market can make 1.21544 as key level for up or down later ... so we have better trade in CPI and ECB press realease .... if price manipulation or price in sideways continues then there is no clear clue when the news appears..... because where the price moves, there is already a scenario
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The Average Discount Everything
  • #134,433
  • Jun 10, 2021 2:05am Jun 10, 2021 2:05am
Good morning folks..

As I stated with my latest DAILY chart, today 1.2162 is HIGHLY crucial support.. I am watching for a "long" entry point right now BUT of course at supportive edges we always have to be careful! If it breaks it can go down fast.. For now I am still inclined to buy dips.. Trade safe

*Please check out DAILY chart and try to understand that bulls actually achieved a candle opening above resisting dotted black line.. That detail changes everything and makes 1.2162 wonderful support. But only to those who are skilled to "see" and not just "look" at things like cows or sheep do.. We all have eyes but sometimes we are blind (or blindfolded by robber banks).. lol..
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Focus only on what truly matters!
  • #134,434
  • Jun 10, 2021 2:16am Jun 10, 2021 2:16am
Quoting hesron
{quote} if 1.21742 is resistance ..... so time for sell .... then 1.21451 as key price going up or down .... so we have big volatility for up or down later ...... if now going up , that is only price manipulation .... or for quick reaction .... market can make 1.21544 as key level for up or down later {image}
My daily S1 is 1.21604 is my support
while weekly PP 1.21742 is my resistance
Price is in between the two.
but based on on my weekly candle, i see price going down to 1.21000.imo
Make it Green
  • #134,435
  • Jun 10, 2021 2:21am Jun 10, 2021 2:21am
Despite retail statistics I am getting ready to open a critical long order.. Waiting for an entry point!
Focus only on what truly matters!
  • #134,436
  • Jun 10, 2021 2:24am Jun 10, 2021 2:24am
Quoting louisfx
{quote} My daily S1 is 1.21604 is my support while weekly PP 1.21742 is my resistance Price is in between the two. but based on on my weekly candle, i see price going down to 1.21000.imo
I use wyckoff scheme in read market , so price projection for me is depend on cause and effect .... cek in your inbox ... i had pm massage
The Average Discount Everything
  • #134,437
  • Jun 10, 2021 2:36am Jun 10, 2021 2:36am
1.2118 is the long entry and the SL should go a little below 1.2040, target is 1.2177
Trends have a higher probability of continuing than not.
  • #134,438
  • Edited 2:53am Jun 10, 2021 2:40am | Edited 2:53am
Quoting Ata-Turkoglu
Despite retail statistics I am getting ready to open a critical long order.. Waiting for an entry point!
When I was watching reaction from 1.2162 M1 helps me to track smallest bull signs for precise entry.. BUT as you can see there was not the slightest form of reaction to form a cross! No rush!

Edit: cross occurred at 1.2157... I opened a long order.. Stops must go at least 15 pips lower or more.. Cheers
(Any M15 candle closing below 1.2153 would be also a reason to abort my long order)

*One more thing: Please don't use the M1 chart for trading folks.. not a good habit! M1 is good only for precise entries and exits..
Attached Image
Focus only on what truly matters!
  • #134,439
  • Jun 10, 2021 2:42am Jun 10, 2021 2:42am
BUY AT 1.2150
SL AT 1.2142
TP AROUND 1.2166
https://charts.mql5.com/29/11/eurusd-m15-alpari-2.png
  • #134,440
  • Jun 10, 2021 2:49am Jun 10, 2021 2:49am
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M15
Trends have a higher probability of continuing than not.
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