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  • #139,821
  • Sep 21, 2021 4:39am Sep 21, 2021 4:39am
Quoting yvestrcz
{quote} Yes, it is wise to place the SL at BE as I would expect a retest of 1.1700 levels before bulls can take over.
I concur...
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  • #139,822
  • Sep 21, 2021 7:23am Sep 21, 2021 7:23am
Anybody catchin pips today?
  • #139,823
  • Sep 21, 2021 8:07am Sep 21, 2021 8:07am
Quoting Pipjitsu
Anybody catchin pips today?
No pips to catch until 1.17417 resistance gets resolved first. My gut tells me it'll resist, but it is up to time to tell ultimately.
  • #139,824
  • Edited 11:11am Sep 21, 2021 8:08am | Edited 11:11am
My man Endoephemera is short 1.1743 and up 12% on equity

PS I think he may possibly be inclined to believe that now the down might resume and go for 50 PiPs... I personally, have no clue.


17:48 ST Out most of the short. Retaining 2.4% of account short 1.1747 +18% on balance. Wish all days were like today.

19:03 ST Took out another short. Hoping it will retr up before going down, to increase the short again. 1.2% of account short 1.1747 and +20% on balance. 22/24 ops in profit.
Practitioner of the cryptic trading arts
  • #139,825
  • Sep 21, 2021 8:48am Sep 21, 2021 8:48am
Quoting Pipjitsu
Anybody catchin pips today?
Yes it was hard but i managed a few
  • #139,826
  • Sep 21, 2021 8:56am Sep 21, 2021 8:56am
I'm still long, I believe we're not ready to drop today. I believe we will drop tomorrow, so I will TP on my long around 1.1758 area and enter short unless we see sudden moves in todays market. FOMC and other news is tomorrow so I expect today to be just a preparation for it.
  • #139,827
  • Sep 21, 2021 9:10am Sep 21, 2021 9:10am
Bear upper hand (bias). So i want to watch it tomorrow. Close all my long and side line.

Waiting on my monthly support
  • #139,828
  • Edited 10:11am Sep 21, 2021 9:11am | Edited 10:11am
Short just closed for a small profit.
Long at 1.1724
TP at 1.1730
  • #139,829
  • Sep 21, 2021 10:16am Sep 21, 2021 10:16am
Quoting jonesmiami
{quote} Yes it was hard but i managed a few
I'm sittin on a few with s/l +1, I'll take the stopout if I have to

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  • #139,830
  • Sep 21, 2021 12:07pm Sep 21, 2021 12:07pm
Wave 2 has to print a "D" leg cca 1.1714-1.1705
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  • #139,831
  • Sep 21, 2021 12:21pm Sep 21, 2021 12:21pm
Outlook for FOMC Wednesday

  1. The daily chart below shows that the shark pattern effect is still intact. As long as 1.1759 area resists, bears will probably try to push this down towards 1.16775 area!
  2. Bears have the upper hand while shark traders continue to sell this lower. Bulls can only hope for a potential Inverted H&S pattern to kick in. Time will tell!
  3. For now, be careful against potential bull pressure to appear around nearest support: 1.1719 area!

I hope it helps

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Focus only on what truly matters!
  • #139,832
  • Sep 21, 2021 2:04pm Sep 21, 2021 2:04pm
Quoting Ata-Turkoglu
Outlook for FOMC Wednesday The daily chart below shows that the shark pattern effect is still intact. As long as 1.1759 area resists, bears will probably try to push this down towards 1.16775 area! Bears have the upper hand while shark traders continue to sell this lower. Bulls can only hope for a potential Inverted H&S pattern to kick in. Time will tell! For now, be careful against potential bull pressure to appear around nearest support: 1.1719 area! I hope it helps {image}

I agree with you ATA I think FOMC will Boost the US Dollar.
Drawdown is more important than Account Size !
  • #139,833
  • Sep 21, 2021 2:38pm Sep 21, 2021 2:38pm
For FOMC I am focusing on 2 levels:

  1. Those who have a bullish bias must look for this: Can bulls at least push this up above 1.17425 area?
  2. Those who have a bearish bias must look for this: Can bears at least push this down below 1.1699 area?
  3. On the longer run: Bulls will face strong resistance around 1.1835/80 area if we get there!
  4. On the longer run: Bears will face strong support around 1.1623 area if we get there!

*Please know that the levels on chart below are actually valid until the end of this week and not just for FOMC!

I hope it helps

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Focus only on what truly matters!
  • #139,834
  • Sep 21, 2021 3:08pm Sep 21, 2021 3:08pm
I know it is a LOOONNNNG way off, but, if this is a valid weekly trendline break to the downside and it holds, I could see 1.12216 as a possible downside objective.
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  • #139,835
  • Sep 22, 2021 3:17am Sep 22, 2021 3:17am
Quick H4 Outlook

Below are my projected S/R levels for the hours during FOMC! As you can see the RED moving average is creating resistance but 1.1721 area is creating support and price is currently being squeezed and forced towards a breakout.

  1. As long as we are above 1.1721 but below RED ma line it is not worth to trade! (Those who insist could at least try to SCALP buying the dips towards 1.1721 but again: I stay on side lines!)

Technically speaking, bears still have the upper hand, but it is likely that things could change today. Time will tell!

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Focus only on what truly matters!
  • #139,836
  • Sep 22, 2021 3:20am Sep 22, 2021 3:20am
solely for FOMC

i have a sell limit at 1.17445

sl 50 pips

tp @ 1.16771
Risk comes from not knowing what to do
  • #139,837
  • Edited 12:56pm Sep 22, 2021 4:09am | Edited 12:56pm
Two scalp sell stops at 1.1737 and 1.1741. Not planning on keeping anything for too long today (aiming for 20-pips) not worth it.

Edit: Finally, both sell stops active. Target TP 1.17 flat (though will watch closely and trail SL accordingly.

Edit: Closed both manually at 1.1723.
A wise man changes his mind, a fool never will
  • #139,838
  • Sep 22, 2021 4:12am Sep 22, 2021 4:12am
H4 Update
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  • #139,839
  • Sep 22, 2021 5:19am Sep 22, 2021 5:19am
Should I risk holding a net long to ride the up shake out, up to 25 PiPs, before the 50-75 PiPs down or just wait for the down?

If I keep the shortie I'll have to watch it go 25 PiPs against and I won't be able to position myself heavy, at the top.
But then, again, heavy entries are always dangerous. And yet the temptation to play both sides and get the perfect heavy entry at the top for the greater reward is very strong. What if it turns south while I'm net long and I miss both moves...

It would be more prudent to build a small short from here to the shake-out top...

They know it. The bastards know it perfectly well and that's why they'll drive it 25 PiPs up before taking it down...

Inserted Video
Practitioner of the cryptic trading arts
  • #139,840
  • Sep 22, 2021 5:57am Sep 22, 2021 5:57am
Quoting Endoephemera
Should I risk holding a net long to ride the up shake out, up to 25 PiPs, before the 50-75 PiPs down or just wait for the down? If I keep the shortie I'll have to watch it go 25 PiPs against and I won't be able to position myself heavy, at the top. But then, again, heavy entries are always dangerous. And yet the temptation to play both sides and get the perfect heavy entry at the top for the greater reward is very strong. What if it turns south while I'm net long and I miss both moves... It would be more prudent to build a small short from here...
You got bigger cahunas than me to hold a net long for the shake out, seen to many times where they just let go of the falling knife. But I do agree (since I'm already short) that the shakeout is coming!!!
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