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EURUSD only

  • #141,561
  • Oct 29, 2021 10:52am Oct 29, 2021 10:52am
One final pattern idea despite the fact of today's highly eccentric bear move.. (Assuming the A leg doesn't get violated)
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Focus only on what truly matters!
  • #141,562
  • Oct 29, 2021 10:52am Oct 29, 2021 10:52am
Quoting Ata-Turkoglu
{quote} I agree.. and in my pov, anything lower than 1.1650 is actually just an environment artificially created by robber banks to buy the lows.. I don't know how they do it but they do it.. Time will tell..
In my mind the problem is that the FX market is still mostly traded OTC via forwards. Traders of big IBs have so many forwards on their book that they have a representative sample of positioning of the market. Furthermore they directly see at least some of the stop-losses which clients gave them and they observe the order flow. Plus they probably talk to traders from other banks in some encrypted way to align positions, though this is not really legal. Imagine if you had all this information. It would be way easier to trade. Also you can be sure that some robber bank traders are reading this chat, laughing out loud about the windfall profits they made today. Probably all the invisible members are robber bank traders.
Another day, another dollar.
  • #141,563
  • Oct 29, 2021 10:53am Oct 29, 2021 10:53am
Good afternoon, hope you're great. Bears are doing well on 1H, thanks to ECB. Hopefully, we could be seeing more bears next month.
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  • #141,564
  • Oct 29, 2021 10:55am Oct 29, 2021 10:55am
The smooth criminals have already moved ahead of the FOMC. This might mean a serious spike on Wednesday. In anycase this is already heading to 150 pips bear move in one day. Might be a serious breakout to the downside. But 1525 to 1500 still there to help bulls.
  • #141,565
  • Oct 29, 2021 10:59am Oct 29, 2021 10:59am
Quoting nic9man
{quote} In my mind the problem is that the FX market is still mostly traded OTC via forwards. Traders of big IBs have so many forwards on their book that they have a representative sample of positioning of the market. Furthermore they directly see at least some of the stop-losses which clients gave them and they observe the order flow. Plus they probably talk to traders from other banks in some encrypted way to align positions, though this is not really legal. Imagine if you had all this information. It would be way easier to trade. Also you can...
True. Pretty sure there are institutional traders having a proxy name here in Ata's thread and laughing their heart out reading our chats. Unfortunately, we cant be another /wallstreetbets here, coz EURUSD is an ~600B daily volume pair only possible by a group of IB's trading against each other.
  • #141,566
  • Oct 29, 2021 11:02am Oct 29, 2021 11:02am
Quoting nic9man
{quote} In my mind the problem is that the FX market is still mostly traded OTC via forwards. Traders of big IBs have so many forwards on their book that they have a representative sample of positioning of the market. Furthermore they directly see at least some of the stop-losses which clients gave them and they observe the order flow. Plus they probably talk to traders from other banks in some encrypted way to align positions, though this is not really legal. Imagine if you had all this information. It would be way easier to trade. Also you can...
Thanks for the tidbits.. I am not bothered.. Fortunately, these crazy moves are rare.. It is what it is and for now, best is not to lose focus on the bigger picture.. Best wishes
Focus only on what truly matters!
  • #141,567
  • Oct 29, 2021 11:06am Oct 29, 2021 11:06am
Quoting sulai45
Good afternoon, hope you're great. Bears are doing well on 1H, thanks to ECB. Hopefully, we could be seeing more bears next month. {image}
Not so sure about it. The ECB is a bit in trouble. Periphery yields are blowing out (e.g. Italy), which probably weighs on the euro currently, so the ECB will soon have to come back with QE. But this is no solution, because inflation is their only mandate, so if inflation stays up they have to act. Hence the only solution would be to keep QE and raise rates anyway. If this were to happen the euro would explode. Meaning if the market comes to the same conclustion the euro will explode already before. Also if the euro goes down more imported inflation rises even more, adding pressure for the ECB. Bit of a tricky situation for the ECB now. The euro might fall on periphery woes now but if this turns it will turn big.
Another day, another dollar.
  • #141,568
  • Edited 11:29am Oct 29, 2021 11:12am | Edited 11:29am
Quoting Endoephemera
{quote} Just had a thought. What if they go for 1.15 today? 190 PiPs daily range.

I think it is just the same as yesterday than opposite. Yesterday the prices did not change much in the evening. --edit I take mine words anything can happen.


Afterwards looking it was just follow the trend of the day , but still remains difficult.
  • #141,569
  • Oct 29, 2021 11:13am Oct 29, 2021 11:13am
Quoting fxcontest
{quote} I Wish It Up Near Yesterday High

Cut Loss All My Buy, Switch Sell

IMO It Heading to 1350 - 1370

Please DYOR Wisely
Holy Betting Grail strategy
  • #141,570
  • Oct 29, 2021 11:24am Oct 29, 2021 11:24am
https://www.forexfactory.com/news/11...0-year-high-as

Rate Hike maybe sooner
Holy Betting Grail strategy
  • #141,571
  • Oct 29, 2021 11:27am Oct 29, 2021 11:27am
Hello

What could be the reason for this decline?
I don't see such a strong news from europa today !
  • #141,572
  • Oct 29, 2021 11:40am Oct 29, 2021 11:40am
Quoting Romancan
Hello What could be the reason for this decline? I don't see such a strong news from europa today !
I am following a guy who wrote this:

People sometimes call market movements random. Is it easier this way. But if you want to be a conscious trader then you need to know that all the information you need is in the market. You just need to find them.Yesterday the market was buying EUR. Today he sold. Someone will say that today USD is strong. ok i got it but check out the sentiment. Banking analysts wrote that they were still maintaining a bearish bias for the EURUSD. A few of yesterday's surprises triggered increases, but when emotions subsided, the picture of the risk of a decline in EURUSD was visible all the time. I missed the opening of a deal at 1.1650. I did this at 1.1620 and 1.16. It's ok, we can start the weekend
  • #141,573
  • Oct 29, 2021 11:45am Oct 29, 2021 11:45am
My bet for the low of today: 1.15343... Who wants to join betting to the tick?
Focus only on what truly matters!
  • #141,574
  • Oct 29, 2021 11:53am Oct 29, 2021 11:53am
Quoting Ata-Turkoglu
My bet for the low of today: 1.15343... Who wants to join betting to the tick?
I'm gonna say 1.15222
  • #141,575
  • Oct 29, 2021 11:54am Oct 29, 2021 11:54am
End of the day 1.1567
  • #141,576
  • Oct 29, 2021 12:00pm Oct 29, 2021 12:00pm
1.1533
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  • #141,577
  • Oct 29, 2021 12:02pm Oct 29, 2021 12:02pm
Quoting Traderview
Will it close above 1.1582. Bought @ 1.1550 SL @ 30 PIPS TP 1.16
Added one more @1.1539
  • #141,578
  • Oct 29, 2021 12:14pm Oct 29, 2021 12:14pm
Seems the bulls are finally poking their heads
Risk comes from not knowing what to do
  • #141,579
  • Oct 29, 2021 12:16pm Oct 29, 2021 12:16pm
Quoting Eren10
End of the day 1.1567
Your guess for low of day?
Focus only on what truly matters!
  • #141,580
  • Oct 29, 2021 12:17pm Oct 29, 2021 12:17pm
Quoting andvk74
1.1533 {image} {image} {image}
How does your system work to pinpoint the exact level. What's the logic. Is it drawn automatically or manually?
Risk comes from not knowing what to do
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