EURUSD only

Meanwhile, on H1...

1. When price touches 1.0097 (with momentum +10 pips higher or so is still ok) it is all sell area...
2. If price climbs above balance line, and as long as price stays inside channel, again: it is all sell area...

Best wishes

Sold EU 3 hours ago based on today's catalyst from China. Came a bit late to the bear party, but better late than never. Resulted in a 47 Pips strong gain.

I totally agree with this idea
At what level did you consider sl?

I usually use 50 pips sl. Max I can allow is 100 pips.

Was you in his private mentorship? He is unreal!

Time period shown in diagram: 16/Feb/2022 - 17/Aug/2022

I feel on the 1HR chart, there may be a better way to draw the channel lines as below?
this shows a retrace up to the level: 1.0113 before turning down agan?

I want to help you all, but you have to take some time off to stop rushing into decisions, relax and think a little bit about what the chart is really telling you.

First of all, the chart that banks are looking at are mainly Daily charts. For trend and of course for client sentiment based on day-to-day numbers.
Second of all, I would suggest you all to stop giving prognosis of where the price should go based on faulty indicators and other stuff.
Thirdly, did you forget the most important advice in FX you will ever hear and need? "Trend is your friend"
Fourthly, I would suggest you to remove everything from the chart and only leave candles. Go on Daily chart and tell me what you see.
Fifthly, I would advise you not to trade pairs that are neither in an uptrend or a downtrend, because they are harder to predict. Make it easy on yourself. Open all of the pairs, see which pairs are currently in an uptrend or downtrend, the rest of the pairs remove.

Okey, now to bussiness.
This is what I see..

What chart is telling me is that this is still a downtrend on EUR/USD. Pains me to see that you don't follow the basic FX stuff. Now, where the price will drop to, honestly I have no clue and no one knows. It could test parity again and bounce, it could go through and fall even more. Whatever the case will be you should have been shorting Euro a long time ago, so you wouldn't really care if it's going to parity, down even more, or if it goes up.

Of course how do you know when you are done shorting and trend changes? Well, where was the last LH, at which price? When the last LH is eliminated then you can start talking about trend reversal, until then..

Last LH as of now is at 1.0320.
Last LL as of now is at parity.

Remember trend is your friend and relax, easy does it.

in the london session look for setup to go long: 30 to 50 pips
NY session should be a peace of cake since there's no news 7 to 10 am should give the right setup for a scalp

Me, when reading comments that try to enlighten me...

Meanwhile, on H1...

At this point only big time frames make sense.

Big timeframe you said? Ok... here comes the biggest timeframe for you... write that level down: 1.0082!

Best wishes

Today I watch 1.0109 and 1.0125 for action

May also see if we ping off of 1.0073, but feels more risky

EU is going down again since 2am CET.

Really helpful, Thanks for sharing this valuable information brother.

Hello Ata
Goodmorning
Please see my pattern
I guess we have a h&SH hear
If is it true
So tp is near 0.9900
Are you agree with me ?

Signed off early yesterday.

Price did dip as expected. Hit my S3 level this morning. Entered a long trade there.
I expect a little bounce from there today. My target is 20-25 pips.

Two observations:

1. We might have entered the final phase (E) of the Wyckoff distribution.
2. The smaller accumulation phase (from 1.025 downward) might not play out exactly to the classical textbook example.

I do have another entry level eyed, S4 at 1.001. Price may or may not hit that level, depending on the volume of safe haven flow in the market.
For a pair like EURUSD to move 350 pips in a week (if it goes to 1.001), that's just not sustainable long term.

I'm not concern because I'm trading on low leverage. My drawdown on EURUSD pair so far is at low single digit percentage.

Stay safe everybody. Have a good weekend.

Cheers,
Cat