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EURUSD

  • #1,202,361
  • Nov 5, 2021 4:58am Nov 5, 2021 4:58am
Gbp is weak... trade it!
Only an idiot knows with certainty to where the market is going.
  • #1,202,362
  • Nov 5, 2021 5:06am Nov 5, 2021 5:06am
The data is an idealized concept based on new claims and doesn't reflect the true figures. Vague support line area sock pupping detected.
Founder of Sutherland Wave Principle
  • #1,202,363
  • Nov 5, 2021 5:08am Nov 5, 2021 5:08am
Quoting PatienceFx
considering fomc taper and their inflation concerns, i feel its safer to sell eu {image}
update
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  • #1,202,364
  • Nov 5, 2021 5:12am Nov 5, 2021 5:12am
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SL at BE hit. . . .

  • #1,202,365
  • Nov 5, 2021 5:20am Nov 5, 2021 5:20am
Quoting suthmo
The data is an idealized concept based on new claims and doesn't reflect the true figures. Vague support line area sock pupping detected.
Looks funny, but FED thinks so too. Although this is what we have to trade, or we will have to trade what other data show to us.
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  • #1,202,366
  • Nov 5, 2021 5:21am Nov 5, 2021 5:21am
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4 shorts and SL as shown . . . . 2 more hours till NFP , Patience

  • #1,202,367
  • Edited 5:40am Nov 5, 2021 5:22am | Edited 5:40am
EU and GU sells going good. NFP is coming though. These pips can either go away or double depending on the numbers. Still, there's a lot of reasons to short EU and GU fundamentally, even if NFP numbers come out bad i wouldn't close my sells. NFP itself is not enough to reverse a trend but it has the power to make a correction.

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  • #1,202,368
  • Nov 5, 2021 5:34am Nov 5, 2021 5:34am
1532* is key the fractal is mirrored in higher and lower time frames activate warp drive
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Founder of Sutherland Wave Principle
  • #1,202,369
  • Nov 5, 2021 5:40am Nov 5, 2021 5:40am
as per normal i didn't expect to see us here this morning.

cummulative delta suggests they are absorbing most of the sellers, not huge but significant. but there are a lot of sellers.

question is are they the smart money? we'll see.

i also need to have a discussion with my new broker about stops. seems their functionality is beyond my understanding.
In tea leaves we trust!
  • #1,202,370
  • Nov 5, 2021 5:45am Nov 5, 2021 5:45am
Quoting MrBullBear
Gbp is weak... trade it!
sellers in complete control since yesterday.

this is what i'm guessing right now, if today's $ numbers are poor, then money hasn't anywere to go? hence euro will rise.

i welcome other ideas on this.
In tea leaves we trust!
  • #1,202,371
  • Nov 5, 2021 5:47am Nov 5, 2021 5:47am
Quoting Nordling00
EU and GU sells going good. NFP is coming though. These pips can either go away or double depending on the numbers. Still, there's lots of reasons to short EU and GU fundamentally, even if NFP numbers come out bad i wouldn't close my sells. NFP itself is not enough to reverse a trend but it has the power to make a correction. {image}
This is the average from fxssi.com of all brokers retail sentiment

EURUSD Buyers 66% Sellers 34%

retail buying supports your view.

Next week we should see how far it can move (maybe 1400).

Some forecasters predict 1.10000 for the first quarter of 2022. The FED may taper faster than we think.

I have to take a position sooner, or later!
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  • #1,202,372
  • Nov 5, 2021 5:52am Nov 5, 2021 5:52am
looks like short covering has begun.
In tea leaves we trust!
  • #1,202,373
  • Nov 5, 2021 5:56am Nov 5, 2021 5:56am
Quoting Js3mwtRc
{quote} This is the average from fxssi.com of all brokers retail sentiment EURUSD Buyers 66% Sellers 34% retail buying supports your view. Next week we should see how far it can move (maybe 1400). Some forecasters predict 1.10000 for the first quarter of 2022. The FED may taper faster than we think. I have to take a position sooner, or later!
It is a little bit risky to jump in any USD pair right now though. So if i were you, i would approach USD pairs with caution. Even though i am sure it will go down further, a bad NFP report will cause a correction which can make you lose 50 or 100 pips quick. Also you would miss the chance to sell on top of that correction.

But there's a reward. If NFP numbers come out good, you would probably see profits quickly. So if it is so tempting to short EU and GU for you now, i would say try the market small. Don't go all in, don't use the lot size you normally use, make it a small position.
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  • #1,202,374
  • Nov 5, 2021 6:01am Nov 5, 2021 6:01am
Quoting Mcbeaners
looks like short covering has begun.
same in cable. short covering.
In tea leaves we trust!
  • #1,202,375
  • Nov 5, 2021 6:03am Nov 5, 2021 6:03am
Quoting Nordling00
{quote} It is a little bit risky to jump in any USD pair right now though. So if i were you, i would approach USD pairs with caution. Even though i am sure it will go down further, a bad NFP report will cause a correction which can make you 50 or 100 pips lose quick. Also you would miss the chance to sell on top of that correction. But there's a reward. If NFP numbers come out good, you would probably see profits quickly. So if it is so tempting to short EU and GU for you now, i would say try the market small. Don't go all in, don't use the lot...
With the ECB continuing their loose policies that 1.16 break above was totally fake. Going to see further Euro weakness.
Be humble or be humbled.
  • #1,202,376
  • Nov 5, 2021 6:17am Nov 5, 2021 6:17am
Quoting Mcbeaners
{quote} sellers in complete control since yesterday. this is what i'm guessing right now, if today's $ numbers are poor, then money hasn't anywere to go? hence euro will rise. i welcome other ideas on this.
Current condition. Eur,usd,jpy are stronger than gbp, usd is stronger than eur,jpy. Eur is stronger than jpy. Regarding nfp, we all know market don't give a shit on whatever data will present. It's all about liquidity. Having bias, we could be right or wrong. We should just follow price wherever it will go and get our share. I am currently bearish with +10 stops. But not adding order yet 'coz we all know it may spikes both direction as we get closer to news release.
Only an idiot knows with certainty to where the market is going.
  • #1,202,377
  • Nov 5, 2021 6:25am Nov 5, 2021 6:25am
Quoting MrBullBear
{quote} Current condition. Eur,usd,jpy are stronger than gbp, usd is stronger than eur,jpy. Eur is stronger than jpy. Regarding nfp, we all know market don't give a shit on whatever data will present. It's all about liquidity. Having bias, we could be right or wrong. We should just follow price wherever it will go and get our share. I am currently bearish with +10 stops. But not adding order yet 'coz we all know it may spikes both direction as we get closer to news release.
Excellent MrBullBear! You said exactly what my fundamental excel sheet says about all these currencies. It is very interesting that you are a scalper and you only look at technicals but yet you say the same thing with my fundamental sheet.

I don't know how you are looking at the charts but you can see the fundamentals in it. It's like you are actually aligning with it, but you don't need to look at the fundamentals bc you can see it in your chart. Now that is very interesting. I guess that's the secret of your success.
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  • #1,202,378
  • Nov 5, 2021 6:25am Nov 5, 2021 6:25am
Quoting Nordling00
{quote} It is a little bit risky to jump in any USD pair right now though. So if i were you, i would approach USD pairs with caution. Even though i am sure it will go down further, a bad NFP report will cause a correction which can make you lose 50 or 100 pips quick. Also you would miss the chance to sell on top of that correction. But there's a reward. If NFP numbers come out good, you would probably see profits quickly. So if it is so tempting to short EU and GU for you now, i would say try the market small. Don't go all in, don't use the lot...
I wait for at least around 50 pips rebound, before any entry from highs.

Also if, it falls I will try to find any highs to enter for the downside too.

I trade on smaller timeframe from Monthly, or weekly and use them only for direction.

I feel better going in and out of trades every week and if, that costs I have to sleep without any worries.

Thanks for the suggestion looks good for any rise/drop above forementioned NFP numbers! Risk management is a must here. Many new traders will carry that out!
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  • #1,202,379
  • Nov 5, 2021 6:31am Nov 5, 2021 6:31am
Quoting Js3mwtRc
{quote} I wait for at least around 50 pips rebound, before any entry from highs. Also if, it falls I will try to find any highs to enter for the downside too. I trade on smaller timeframe from Monthly, or weekly and use them only for direction. I feel better going in and out of trades every week and if, that costs I have to sleep without any worries. Thanks for the suggestion looks good for any rise/drop above forementioned NFP numbers! Risk management is a must here. Many new traders will carry that out!
That's a great strategy, i think for me it feels right this time as well!

I don't know if you have a target in mind but i can say i am short on this at least until 16 November. But of course that's just an estimation.
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  • #1,202,380
  • Nov 5, 2021 6:40am Nov 5, 2021 6:40am
Quoting Nordling00
{quote} That's a great strategy, i think for me it feels right this time as well! I don't know if you have a target in mind but i can say i am short on this at least until 16 November. But of course that's just an estimation.
Its hard for me to know the time, but looking every week at weekends and taking example from 20 D/W average I make an easy forecast.

The most of the times I'll get out earlier, because of the news, but some times I hit TP and I am fine with it until the next week.
Looking for profitable short term trades ...|
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