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  • #155,741
  • Sep 1, 2022 8:43am Sep 1, 2022 8:43am
Quoting nic9man
{quote} May I ask why do you put such an emphasis on a single touch? I mean normally there is always the possibility of a false break, why do you assign this probability a very low number in this case? Just for me to understand.
Because, based on H1, 0.9980 was the very first dip in this sequence and later, market already went for a stop hunt... So I expected new highs... But then a second drop for a second stop hunt???? That felt weird to me, so I thought if market comes all the way back to this level there is definitely a deeper target.. Nothing too crazy here.. My thinking was simple.. That's why...

I hope it answers
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H1.png Size: 19 KB
Focus only on what truly matters!
  • #155,742
  • Sep 1, 2022 8:48am Sep 1, 2022 8:48am
Quoting Ata-Turkoglu
{quote} Because, based on H1, 0.9980 was the very first dip in this sequence and later, market already went for a stop hunt... So I expected new highs... But then a second drop for a second stop hunt???? That felt weird to me, so I thought if market comes all the way back to this level there is definitely a deeper target.. Nothing too crazy here.. My thinking was simple.. That's why... I hope it answers {image}
Many thanks, makes sense! So in case we drop lower 0.9980 would be a major resistance for the bulls I suspect. Let's see what the PMI does.
Another day, another dollar.
  • #155,743
  • Sep 1, 2022 8:49am Sep 1, 2022 8:49am
Quoting nic9man
{quote} Many thanks, makes sense! So in case we drop lower 0.9980 would be a major resistance for the bulls I suspect.
Exactly... This level is probably busted and later it is likely to become a pain in the neck level for bulls... Time will tell..

*If I am wrong, and this level keeps supporting, so be it... I don't mind...
Focus only on what truly matters!
  • #155,744
  • Sep 1, 2022 8:56am Sep 1, 2022 8:56am
Hi Traders,

as i wrote yesterday they back under parity, and i think we are now in turning point, beacuse in 5 mins will arrive important data from USA, and we are on decision level, from here if data will be good ( i suppose) we should have waterfall and my target is new low, if data disappoint then bulls should show they power, and here will be good support.

Have a nice afternoon!
Everyone makes mistakes, but only few use equity management.
  • #155,745
  • Sep 1, 2022 8:56am Sep 1, 2022 8:56am
PA has reached the lower band of BB on H4, ISM's PMI will have to be really strong to push this lower.
Risk Management is of utmost importance!
  • #155,746
  • Sep 1, 2022 8:56am Sep 1, 2022 8:56am
0.9970 seems to be a minor support in a short time
  • #155,747
  • Sep 1, 2022 9:01am Sep 1, 2022 9:01am
Good PMI = higher interest rate hikes
  • #155,748
  • Sep 1, 2022 9:02am Sep 1, 2022 9:02am
Quoting JBRolim
" OCO " {image}
"No pain no gain"
  • #155,749
  • Sep 1, 2022 9:04am Sep 1, 2022 9:04am
strong support nearly hit
  • #155,750
  • Sep 1, 2022 9:07am Sep 1, 2022 9:07am
75% into the reversal range. Very often it happens here. The end of the range is 0930.
Founder of Sutherland Wave Principle
  • #155,751
  • Sep 1, 2022 9:11am Sep 1, 2022 9:11am
Well .099626 broken. So far so good.
Wanna see H1 .9904 reaction.
Hope to close f*** shorts at .9870 +/-.
No more wish to test my patience (
  • #155,752
  • Sep 1, 2022 9:12am Sep 1, 2022 9:12am
UK looks to be in a major recession, so is the US. Europe's energy situation in combination with the effects weather has had on water levels is pushing their energy supply network to the brink of collapse this winter. Any bull cases should be short-lived and frankly speaking only something major can change this.

The only thing that comes to mind is Russia's withdraw from Ukraine.
  • #155,753
  • Sep 1, 2022 9:15am Sep 1, 2022 9:15am
Quoting JBRolim
{quote}
Boom EU droped like a butter below 9965
Looking for profitable short term trades ...|
  • #155,754
  • Sep 1, 2022 9:18am Sep 1, 2022 9:18am
It's over extended. This long bar down has to be filled in evenly. This drop can't last.
Founder of Sutherland Wave Principle
  • #155,755
  • Sep 1, 2022 9:20am Sep 1, 2022 9:20am
Quoting Js3mwtRc
{quote} Boom EU droped like a butter below 9965
Just read this morning China locked down 21.2 million people again. This ain't good. Any bulls out there should be very careful. It's like the whole world is in chaos.
  • #155,756
  • Sep 1, 2022 9:20am Sep 1, 2022 9:20am
Quoting suthmo
It's over extended. This long bar down has to be filled in evenly. This drop can't last.
it can go to 0.985 easily
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_2022-09-01_10-20-06.png Size: 37 KB
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #155,757
  • Sep 1, 2022 9:21am Sep 1, 2022 9:21am
When news is at it's worst the market is at it's strongest. Strong elements need to assert their selves. One of the first lessons I learned about markets.
Founder of Sutherland Wave Principle
  • #155,758
  • Sep 1, 2022 9:23am Sep 1, 2022 9:23am
Quoting ForexGoose
{quote} it can go to 0.985 easily {image}
Every big time frame is at the cusp of a major fall for the the EURUSD.
  • #155,759
  • Sep 1, 2022 9:27am Sep 1, 2022 9:27am
I risked a purchase here 0.99350 tp 1.00500
"No pain no gain"
  • #155,760
  • Sep 1, 2022 9:33am Sep 1, 2022 9:33am
Quoting investing101
{quote} Just read this morning China locked down 21.2 million people again. This ain't good. Any bulls out there should be very careful. It's like the whole world is in chaos.
China to needs relax zero covid rules, or we are in deep trouble!
Looking for profitable short term trades ...|
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