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  • #154,041
  • Edited 11:03am Aug 10, 2022 10:46am | Edited 11:03am
Quoting Traderview
Sl is being hunted right now. 1.0350 close below on daily would be good bears.
Omo all I want to see is this current 4hr candle close bearish
Risk comes from not knowing what to do
  • #154,042
  • Aug 10, 2022 10:47am Aug 10, 2022 10:47am
Quoting investing101
{quote} China's and Europe's numbers paint a different story. I don't see how this triggers a longer term reversal. Italy is in quite a shitter while winter is coming for Europe really soon.
Maybe retest botton blue channel or midle green channel !
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  • #154,043
  • Aug 10, 2022 10:49am Aug 10, 2022 10:49am
so 2nd signal also taken up , so now last at 0324 before first confirmation at 0304. and then bounce will add new short to keep!

one more thing is that news trading always risky , like many hundreds done intentionally before and most time loss come due high impact news only while no actively dealing that time! even ok to the side with risk it with more drawdown ! today just curiosity I keep one nominal short before going to sleep with good sl over 0247 and next see it lost already! so better avoid high impact news altogether , rather after half to 1 hour may do easily and confidently with low risks ! take care
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #154,044
  • Aug 10, 2022 11:03am Aug 10, 2022 11:03am
Quoting investing101
{quote} China also reported worse than expected.
I am not convinced yet that inflation numbers will drop significant, EU reported the same today and I don't see any signs of a recession in US, but there is a real problem on Europe with gas and supply chains and its bigger from US. So I'll stay bearish on Daily, Weekly and Monthly timeframes until techs show, FED cut rates, or something bad hit US, now the only problem is FED raising rates aggresivelly
Looking for profitable short term trades ...|
  • #154,045
  • Aug 10, 2022 11:04am Aug 10, 2022 11:04am
Quoting Rag2RichesFX
For the day. 21 in a row. Good luck the rest of your day traders. I'm out. {image}
when you going to get a live account?
  • #154,046
  • Aug 10, 2022 11:08am Aug 10, 2022 11:08am
Quoting Js3mwtRc
{quote} I am not convinced yet that inflation numbers will drop significant, EU reported the same today and I don't see any signs of a recession in US, but there is a real problem on Europe with gas and supply chains and its bigger from US. So I'll stay bearish on Daily, Weekly and Monthly timeframes until techs show, FED cut rates, or something bad hit US, now the only problem is FED raising rates aggresivelly
The US is clearly in a recession. Just because Biden changed the definition of a recession doesn't mean we aren't in one. We're in the textbook definition of a recession.
  • #154,047
  • Aug 10, 2022 11:12am Aug 10, 2022 11:12am
The Daily Candle is rite there fighting with the 50EMA. May be going back down, not sure... I am currently short with a BE Stop loss.
Drawdown is more important than Account Size !
  • #154,048
  • Aug 10, 2022 11:13am Aug 10, 2022 11:13am
Quoting Austyno
{quote} Omo all I want to see is this current 4hr candle close bearish
Me too ! Lets wait 45 min and see
Drawdown is more important than Account Size !
  • #154,049
  • Aug 10, 2022 11:23am Aug 10, 2022 11:23am
Quoting investing101
{quote} The US is clearly in a recession. Just because Biden changed the definition of a recession doesn't mean we aren't in one. We're in the textbook definition of a recession.
Right on a technical recession. Powell doesn't care, all he wants is bring back inflation to 2.00% at any cost and this is what may dump US Growth more.
Looking for profitable short term trades ...|
  • #154,050
  • Aug 10, 2022 12:00pm Aug 10, 2022 12:00pm
https://www.reuters.com/markets/euro...rs-2022-08-10/
  • #154,051
  • Aug 10, 2022 12:06pm Aug 10, 2022 12:06pm
Based on H1, nearest support is now at 1.0312... As long as H1 candles open above it bulls are safe!
Focus only on what truly matters!
  • #154,052
  • Aug 10, 2022 12:21pm Aug 10, 2022 12:21pm
Meanwhile, on H4...

With help of excitement and chaos during minutes of data, 1.0354 was a good place to risk selling if you connected the dots...

However, as price slowly calms down, that level might not be that much resistant as before so careful when selling again.

Now all that said.... looking at the mofu candle + the doji candle that follows, I could say that these could be early signs of reversal (because this could later form an evening star formation) BUT again: don't rush and keep watching smaller time frames for better clues and confirmations before risking any sell orders.

My two cents
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Focus only on what truly matters!
  • #154,053
  • Aug 10, 2022 12:26pm Aug 10, 2022 12:26pm
Quoting Ata-Turkoglu
Based on H1, nearest support is now at 1.0312... As long as H1 candles open above it bulls are safe!
Dear
Which of the two is the closest now?
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  • #154,054
  • Aug 10, 2022 12:36pm Aug 10, 2022 12:36pm
Quoting Hamzalolo
{quote} Dear Which of the two is the closest now? {image} {image}
Well, I have updated that count but overall targets are still similar...

Now we have a potential bearish bat here but I can't tell where wave c of 4 could end.. Once wave 4 is complete we can guess where targets of wave 5 down are located.

Every new day we must see how bulls perform. Maybe the rally is already over (remember my channel on H4 and my mentioning of potential evening star) or maybe not, we must watch until we see little bearish signs.

Long story short: stay alert for bears but for now, stick to bulls while H1 candles continue to open above 1.0312!
Attached Image (click to enlarge)
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Focus only on what truly matters!
  • #154,055
  • Aug 10, 2022 12:54pm Aug 10, 2022 12:54pm
Quoting Ata-Turkoglu
{quote} Well, I have updated that count but overall targets are still similar... Now we have a potential bearish bat here but I can't tell where wave c of 4 could end.. Once wave 4 is complete we can guess where targets of wave 5 down are located. Every new day we must see how bulls perform. Maybe the rally is already over (remember my channel on H4 and my mentioning of potential evening star) or maybe not, we must watch until we see little bearish signs. Long story short: stay alert for bears but for now, stick to bulls while H1 candles continue...
I am on sidelines now and my dearest brother, there is no doubt that you have Allah (GOD) gifted skills in terms of technical and graphical aspects. I will definitely keep an eye between those two levels or at least 1.0371 level area for Short because it does not look like 1h candle opens under 1.0312 area. I will try level my best to have more patience and try to be in the entry at the maximum top level like 1.0371 or 1.0380 area In Sha Allah!!
  • #154,056
  • Aug 10, 2022 1:01pm Aug 10, 2022 1:01pm
Since the 1H candle opened @ 1.0316, so I entered a Buy trade for scalping mode I believe....
  • #154,057
  • Aug 10, 2022 1:28pm Aug 10, 2022 1:28pm
Quoting Ata-Turkoglu
{quote} Well, I have updated that count but overall targets are still similar... Now we have a potential bearish bat here but I can't tell where wave c of 4 could end.. Once wave 4 is complete we can guess where targets of wave 5 down are located. Every new day we must see how bulls perform. Maybe the rally is already over (remember my channel on H4 and my mentioning of potential evening star) or maybe not, we must watch until we see little bearish signs. Long story short: stay alert for bears but for now, stick to bulls while H1 candles continue...
So what you're saying is that if the current hourly candle closes below 1.0312, a short may be in order.

I'm looking for an hourly candle close below 1.03 for a good short down to 1.025 with a sl at 1.033
  • #154,058
  • Aug 10, 2022 1:44pm Aug 10, 2022 1:44pm
Done 1st confirmation & so after correction may further down. Next level care 0293 and limit 0253. Lets see
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #154,059
  • Aug 10, 2022 1:54pm Aug 10, 2022 1:54pm
The pair is trading above the 1.02 support level and above the EMA50, which keeps the bullish scenario in place and leaves us looking for an upside move with a breakdown of the 1.0278 level and a target of 1.0355. Keep in mind that a breakdown and stabilization below the 1.02 level will result in a corrective decline towards 1.01. The expected trading range for today lies between support 1.0150 and resistance 1.0300. Here is what we have:
1) Supports: 1.0180, 1.0155, 1.0125
2) Resistances: 1.0240, 1.0270, 1.0300
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IgorFX
  • #154,060
  • Aug 10, 2022 2:07pm Aug 10, 2022 2:07pm
1.02400 looks like a good place to buy.
"No pain no gain"
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