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  • #1,209,141
  • Jan 26, 2022 9:03am Jan 26, 2022 9:03am
https://www.fxstreet.com/news/eur-us...k-202201261319

Quote
“Given the recent volatility in stocks and concerns about the impact of tighter Fed policy on EM, there is some speculation in the market that Powell could soften his tone today and that the FOMC could throw its weight behind 3 rather than 4 rate rises this year. This outcome would likely undermine USD sentiment and trigger another push higher in EUR/USD.”

If bulls end up pushing higher after the FOMC press conference, I think that they won't exceed 1.15. Bears need to clear 1.118 where the trend will continue towards 1.10.
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #1,209,142
  • Jan 26, 2022 9:04am Jan 26, 2022 9:04am
Quoting ForexGoose
{quote} EUR/CAD is still in a downtrend the BOC decision is coming up at 10:00am EST, which could whipsaw this pair {image}
It is in a downtrend ,not the one I think you refer to
but its also in range
it can stay that way for a long time ,the weekly has broke already topside
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #1,209,143
  • Jan 26, 2022 9:05am Jan 26, 2022 9:05am
CAD held rates 0.25%. But I am still bullish on CAD. Waiting for a pullback on CADJPY to enter a buy. They are looking to hike so next meeting, they will probably hike. But they held the rates on 0.25% so that is still bullish on CAD.

EURCAD still bearish. Nothing changes, trade safe.
  • #1,209,144
  • Jan 26, 2022 9:07am Jan 26, 2022 9:07am
Quoting ForexGoose
{quote} EUR/CAD is still in a downtrend the BOC decision is coming up at 10:00am EST, which could whipsaw this pair {image}
laughable you guys think you don't need tech knowledge
as shown on that blank chart
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #1,209,145
  • Jan 26, 2022 9:08am Jan 26, 2022 9:08am
Quoting Bones
{quote} It is in a downtrend ,not the one I think you refer to but its also in range it can stay that way for a long time ,the weekly has broke already topside
https://www.fxstreet.com/news/eur-ca...k-202201250820

Quote
“The bounce in the cross from the base of the recent range does suggest potential for a retest of the 1.46 zone – major resistance at 1.4615 – but we rather feel that gains to the 1.43/1.44 range are perhaps the best the EUR will be able to muster (given trend oscillators).”

I bet that after the BOC press conference, any rallies will be sold.
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #1,209,146
  • Jan 26, 2022 9:11am Jan 26, 2022 9:11am
Quoting ForexGoose
{quote} https://www.fxstreet.com/news/eur-ca...k-202201250820 {quote} I bet that after the BOC press conference, any rallies will be sold.
don't fx street me mate
you gotta break that weekly both sides
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD_2022-01-26_09-41-07.png Size: 85 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #1,209,147
  • Jan 26, 2022 9:33am Jan 26, 2022 9:33am
Quoting Bones
don't fx street me mate
Learn from your mistakes and march on.
  • #1,209,148
  • Edited 9:48am Jan 26, 2022 9:35am | Edited 9:48am
Quoting ForexGoose
{quote} https://www.fxstreet.com/news/eur-ca...k-202201250820 {quote} I bet that after the BOC press conference, any rallies will be sold.
Ignore magic trend lines on the chart at all cost. It is just a line that any of us can draw and make it look beautiful. Just look at the chart price, either supply/demand or price action. Do not draw any magic lines, they are irrelevant. They do not count, they are useless, economics do not care about a colored line on the chart. Trade safe.

Take a look at this chart, you can draw them anywhere, but the price does not react to the trend line. It reacts, to economics events, and other things.

Take a look at GBPNZD daily would you take a trade with your hard earned working money based on those lines??????????????????????

Look at EURCAD.

EURUSD weekly.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURCHFDaily.png Size: 79 KB
Click to Enlarge Name: GBPNZDDaily.png Size: 146 KB
Click to Enlarge Name: GBPNZDDaily(2).png Size: 90 KB
Click to Enlarge Name: EURCADDaily.png Size: 54 KB
Click to Enlarge Name: EURUSDWeekly.png Size: 60 KB
  • #1,209,149
  • Jan 26, 2022 9:39am Jan 26, 2022 9:39am
Quoting Techanalyst
{quote} Ignore magic trend lines on the chart at all cost. It is just a line that any of us can draw and make it look beautiful. Just look at the chart price, either supply/demand or price action. Do not draw any magic lines, they are irrelevant. They do not count, they are useless, economics do not care about a colored line on the chart. Trade safe. Take a look at this chart, you can draw them anywhere, but the price does not react to the trend line. It reacts, to economics events, and other things. {image}
I agree, but Bones vandalized my chart with a trend line.
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #1,209,150
  • Jan 26, 2022 9:47am Jan 26, 2022 9:47am
Quoting Techanalyst
{quote} Ignore magic trend lines on the chart at all cost. It is just a line that any of us can draw and make it look beautiful. Just look at the chart price, either supply/demand or price action. Do not draw any magic lines, they are irrelevant. They do not count, they are useless, economics do not care about a colored line on the chart. Trade safe. Take a look at this chart, you can draw them anywhere, but the price does not react to the trend line. It reacts, to economics events, and other things. Take a look at GBPNZD daily would you take a...
yes, and many other such useless things are used by traders.
which doesn't work.
I only say based on my experience.
  • #1,209,151
  • Jan 26, 2022 9:51am Jan 26, 2022 9:51am
Mazu Bozu Bear candle aint gonna Sadge it up this thigh
  • #1,209,152
  • Jan 26, 2022 10:16am Jan 26, 2022 10:16am
Setup looks ready. Spike to 1.1336 then down. Any further up ill wait for my entry. If it doesnt go up and goes down im also waiting to enter cause it will most likely be a trap. Fingers crossed
  • #1,209,153
  • Jan 26, 2022 10:29am Jan 26, 2022 10:29am
Quoting Techanalyst
Ignore magic trend lines on the chart at all cost. It is just a line that any of us can draw and make it look beautiful. Just look at the chart price, either supply/demand or price action. Do not draw any magic lines, they are irrelevant. They do not count, they are useless
Who are you to tell people how they ought not to trade? Mind your own business, and let people trade the way they want to trade! If you don't want to use trendlines, then don't use them. But others may want to use them. What you think is useless may be useful to others. Focus on your own trading, and stop giving people a hard time in here over trendlines.
Learn from your mistakes and march on.
  • #1,209,154
  • Jan 26, 2022 10:44am Jan 26, 2022 10:44am
To the noobs in the thread: If you want to use trendlines or any other things that may be helpful to you for making trading decisions, then please do so! It's your right to choose how you want to trade. You will learn from experience what does or doesn't work for you. Don't let people pressure you into trading according to their methods. It's your money you are trading with, not theirs!
Learn from your mistakes and march on.
  • #1,209,155
  • Jan 26, 2022 10:51am Jan 26, 2022 10:51am
Quoting here2there
To the noobs in the thread: If you want to use trendlines or any other things that may be helpful to you for making trading decisions, then please do so! It's your right to choose how you want to trade. You will learn from experience what does or doesn't work for you. Don't let people pressure you into trading according to their methods. It's your money you are trading with, not theirs!
If noobs rely solely on trendlines or technical indicators on low time frame charts for day trading, then they will lose 100% of the time. That is how forex brokers make money. That is why brokers state that 80% of traders lose.

This is what happens to noobs.

Inserted Video
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #1,209,156
  • Jan 26, 2022 10:54am Jan 26, 2022 10:54am
Quoting here2there
To the noobs in the thread: If you want to use trendlines or any other things that may be helpful to you for making trading decisions, then please do so! It's your right to choose how you want to trade. You will learn from experience what does or doesn't work for you. Don't let people pressure you into trading according to their methods. It's your money you are trading with, not theirs!
I completely agree.
there are just things that obviously don't work.
ok we're not talking about it.
  • #1,209,157
  • Jan 26, 2022 10:57am Jan 26, 2022 10:57am
Quoting ForexGoose
{quote} I agree, but Bones vandalized my chart with a trend line.
I laughed so hard at this
You have to have an IQ higher than 90 to interact with this user.
  • #1,209,158
  • Jan 26, 2022 10:59am Jan 26, 2022 10:59am
Anyone interested in watching: Few options available.

https://www.federalreserve.gov/live-broadcast.htm
(YouTube Link on this site as well)

Inserted Video
Swing the AXE..HARD w/ Effort, Consistency and Patience
  • #1,209,159
  • Jan 26, 2022 11:00am Jan 26, 2022 11:00am
Quoting ForexGoose
{quote} If noobs rely solely on trendlines or technical indicators on low time frame charts for day trading...
I am not saying noobs should solely rely on trendlines, and that they should trade on low time frames. Don't read meaning into what I have said.

What I am saying is people need to choose for themselves how they want to trade. If they fail, then they can learn from their mistakes. That's how they will get better at trading.

Just because something doesn't work for you, it doesn't mean it can't work for someone else. We need to respect a trader's right to use his or her own approach to the market.
Learn from your mistakes and march on.
  • #1,209,160
  • Jan 26, 2022 11:06am Jan 26, 2022 11:06am
This is the previous FOMC price action when FED decided to raise the pace of the stimulus cut. Now many economic forecasters see a faster pace.

1222 is where the key support is for more downside. A break targets the low of last year.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 43 KB
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