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  • #139,721
  • Sep 16, 2021 11:50am Sep 16, 2021 11:50am
Quoting X2x
{quote} Bro, on h4 we see there is possible head and soulder pattern upto 1900 ... Wht u think about this.?? How much market could breath upside?? I already had open position from 1.1752
I mentioned it some time inside previous week or the week before and nowadays more and more members are becoming aware of a potential Inverted H&S on daily chart.. With that in mind we better wait until shark fully plays out and until we see signs of a right inverted shoulder forming.. I think once it finds a solid base hopefully around 1.1715/30 and not deeper this pair can reverse and go back up.. No rush!

*For now I marked 1.1778 as nearest resistance area based on H1... We better focus on bears and keep selling spikes!
Focus only on what truly matters!
  • #139,722
  • Sep 16, 2021 12:11pm Sep 16, 2021 12:11pm
Quoting bigiivan
I hope it will break down 1,1770 and make a divergence. Then I will add more longs. Now, just waiting. {image}
Divergence not confirmed. We have to wait.
  • #139,723
  • Sep 16, 2021 12:31pm Sep 16, 2021 12:31pm
What kind of Wave 4 are we gonna get?

(received my 25th ignore today - don't worry won't be coming here much longer)

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  • #139,724
  • Sep 16, 2021 12:35pm Sep 16, 2021 12:35pm
Quoting SiamonSings
Sold at 1.18190. Mental SL: 10 - 15 pips. TP: 1.17820
What a day !! More than 75 pips bagged. I have my active short target at 17410.
P.S: A long gamble bet on 1H is losing ~11 pips atm. Looking to close that one asap.
  • #139,725
  • Sep 16, 2021 12:43pm Sep 16, 2021 12:43pm
Quoting Ata-Turkoglu
{quote} I mentioned it some time inside previous week or the week before and nowadays more and more members are becoming aware of a potential Inverted H&S on daily chart.. With that in mind we better wait until shark fully plays out and until we see signs of a right inverted shoulder forming.. I think once it finds a solid base hopefully around 1.1715/30 and not deeper this pair can reverse and go back up.. No rush! *For now I marked 1.1778 as nearest resistance area based on H1... We better focus on bears and keep selling spikes!
Thanx buddy..
  • #139,726
  • Edited 1:22pm Sep 16, 2021 12:52pm | Edited 1:22pm
Quoting macdulio
What kind of Wave 4 are we gonna get? (received my 25th ignore today - don't worry won't be coming here much longer) {image}
Traders are scared to look at analysis that goes against their broker prepared education, and many use the ignore button like an infant, really it's a shame that so many act like that nowadays; nearsightedness leads to blindness.

Eurusd down follow the colors and boxes, even an infant can do it.
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MY GRID. Markets are NOT random.
  • #139,727
  • Sep 16, 2021 1:12pm Sep 16, 2021 1:12pm
For now i believe, we have a little more way down.

Since we had a shark pattern in play, today we did hit the TP2 at 0.618 (cream fibs). Since the shark completed the down move is most likely a 535 Zig-Zag. According to my count we have a completed 5 and 3 and now we're in another 5 wave impulse down. Considering the big selling spike today, this is most likely wave 3 of the last 5 and i'm looking for a bit more downside.

We hit also the 0.618 of the 535 (red fibs - which is actually target 1 of the Zig-Zag). If though the momentum does not slow down, we could look at the next target at 1.1717. For now durian Asian session, i believe we'll get a small retrace for wave 4 of the last leg and we might move further down tomorrow. Further targets of the 535 are shown with the red fib numbers.
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  • #139,728
  • Sep 16, 2021 1:44pm Sep 16, 2021 1:44pm
If the day settles right on the bottom within 10 pips that means 1750 and 1762 then expect a shallow bounce max 1773 and a continuation right out of the gate during Frankfurt/London opening.
The USD strength is because of the Chinese Banking troubles... If there is no comment from the CCP early in the morning a bankruptcy of Evergrande will become almost unavoidable. That keeps capital flowing into the USD for the coming day(s).
  • #139,729
  • Sep 16, 2021 2:02pm Sep 16, 2021 2:02pm
Quoting tonyb123
{quote} Traders are scared to look at analysis that goes against their broker prepared education, and many use the ignore button like an infant, really it's a shame that so many act like that nowadays; nearsightedness leads to blindness. Eurusd down follow the colors and boxes, even an infant can do it.{image}
Lol.. I hear you.. True.. Some individuals are really acting like infants sometimes..

Anyway... I can see that you have set your mind already, but from experience I know it is never that simple.. Yes keeping things simple is often helpful BUT for this particular case where price has slowed down here at 1.1755 area I have one important reasoning that we shouldn't ignore:

  1. On weekly chart, price has arrived at fib 61.8 area (1.1757) and currently trying to decide to bounce up or to drop more.. I would say it is still wise to look for supportive signs until 1.1743 and maybe even around 1.1716 if momentum helps bears to reach fib 78.6... This way or the other, these are generally the levels where price makes a u-turn.. Just be careful!

Best wishes

Focus only on what truly matters!
  • #139,730
  • Sep 16, 2021 2:06pm Sep 16, 2021 2:06pm
Quoting zippo22
If the day settles right on the bottom within 10 pips that means 1750 and 1762 then expect a shallow bounce max 1773 and a continuation right out of the gate during Frankfurt/London opening. The USD strength is because of the Chinese Banking troubles... If there is no comment from the CCP early in the morning a bankruptcy of Evergrande will become almost unavoidable. That keeps capital flowing into the USD for the coming day(s).
Hi zippy, thanks for posting this. Very interesting indeed, all day yesterday and today, I've been looking to find out what is causing the dollar to go up, despite shit news. Where did you get this news from pls?
Say, “He Is Allah, [Who Is] One, Allah, the Eternal Refuge.
  • #139,731
  • Sep 16, 2021 2:09pm Sep 16, 2021 2:09pm
Quoting SiamonSings
{quote} What a day !! More than 75 pips bagged. I have my active short target at 17410. P.S: A long gamble bet on 1H is losing ~11 pips atm. Looking to close that one asap.
Hah. That spike at the 12:00th hour - closing my gamble long for +3 pips. Main short is active. Targeting 17410.
  • #139,732
  • Sep 16, 2021 2:12pm Sep 16, 2021 2:12pm
there are sudden news about ECB, anyone know the effect? will this news make inverse HnS on daily eurusd?
  • #139,733
  • Sep 16, 2021 2:13pm Sep 16, 2021 2:13pm
Bought at 1.1754 waiting for 30 minutes to go up, then give it up, tp at 1.1756 -> ~one minute later + 10 pips , where is murphy.
  • #139,734
  • Sep 16, 2021 2:25pm Sep 16, 2021 2:25pm
Quoting forex baraka
{quote} Hi zippy, thanks for posting this. Very interesting indeed, all day yesterday and today, I've been looking to find out what is causing the dollar to go up, despite shit news. Where did you get this news from pls?
Just type Evergrande into the search bar... the rest Google will do for you. Evergrande is one (if not the) largest property developer in China. If they go belly up then we have another Lehman event... almost exactly on the day 13 years after Lehman Brothers went bankrupt.

And BS news is trying to keep the UDS from going up too fast...
Unpublished ECB inflation est raises prospect of rate rise

"Unpublished..." wtf, who shall/can verify this... That's clear sign that damage control mode is on.
  • #139,735
  • Sep 16, 2021 2:36pm Sep 16, 2021 2:36pm
Quoting zippo22
{quote} Just type Evergrande into the search bar... the rest Google will do for you. Evergrande is one (if not the) largest property developer in China. If they go belly up then we have another Lehman event... almost exactly on the day 13 years after Lehman Brothers went bankrupt. And BS news is trying to keep the UDS from going up too fast... Unpublished ECB inflation est raises prospect of rate rise "Unpublished..." wtf, who shall/can...
Cheers buddy
Say, “He Is Allah, [Who Is] One, Allah, the Eternal Refuge.
  • #139,736
  • Sep 16, 2021 4:03pm Sep 16, 2021 4:03pm
Quoting fxsport
{quote} Pipjitsu - you have every right to be a "scaredy cat". I am long today on EU because of several reasons but my main reason is that ADR for EU is 40-60 pips daily. Today is has already moved 70 pips.
Closed my long for the day in the green with +18 (1.1750-1.1768)

My rationale for the long was based on several factors but mainly the ADR.

While I believe that EU is poised to bounce higher the longer I look at the charts and read the news my "Spidey Sense" goes off so I took a profit and I'm out until tommorow until I can find out more about the Chinese company that may be the next "black swan".

Attached Image
...because you never know - until you do!
  • #139,737
  • Sep 16, 2021 4:14pm Sep 16, 2021 4:14pm
Good evening, these are my S/R levels for today.
1H chart;
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  • #139,738
  • Sep 16, 2021 4:54pm Sep 16, 2021 4:54pm
Looks like going to 1.18. If they do not go above, then the correction is over and will fall below 1.17.
  • #139,739
  • Sep 16, 2021 5:53pm Sep 16, 2021 5:53pm
I bought 1.17645, expecting Tp 1.18300
"No pain no gain"
  • #139,740
  • Edited 6:41pm Sep 16, 2021 6:11pm | Edited 6:41pm
Careful Guys with buying!!!

As already mentioned before there is a reason USD is up....

China Braces for "Nightmare Scenario" As Evergrande Offers Broke Investors Discounted Apartments
"Debt recovery efforts by creditors would lead to fire sales of assets and hit housing prices. Profit margins across the supply chain would be squeezed. It would also lead to panic selling in capital markets."

So, I expect another leg down (EUR) tomorrow. -> Think nobody wants to hold too much "risk-on currencies" over weekend when such a soup is burning on.
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