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  • #158,101
  • Sep 30, 2022 1:39pm Sep 30, 2022 1:39pm
The correction has begun. It looks like the low will rise to 0.9950 (50% Fib).
  • #158,102
  • Sep 30, 2022 3:39pm Sep 30, 2022 3:39pm
Quoting johncen
{quote} I feel asleep. Haha closed my shorts too early @9791. Anyways at least tjey are green! now let see if 9750 holds
Closing my newly added longs from 9747. End of the week, month and quarter. See you all next Monday. Happy weekend
Patience, Emotion Control and Discipline.
  • #158,103
  • Sep 30, 2022 4:29pm Sep 30, 2022 4:29pm
Quoting johncen
{quote} Closing my newly added longs from 9747. End of the week, month and quarter. See you all next Monday. Happy weekend
Happy weekend to you too, lets wait for another coming productive week
  • #158,104
  • Oct 1, 2022 4:48am Oct 1, 2022 4:48am
The price came from the low of the channel (blue line) and closed below the previous Month's S1, the new Months Pivot and the trendline connecting 1.0200 to 1.0050.

0.9908 is the level that bulls will try to get over so they can reach at the higher zone and the 50 daily ma. Bears should break the low of Friday and stay below the trendline, so they can reach at 0.9660 or lower below 0.9600 (see blue shadowed area at the lows).

The trend is bearish, but have recovered significant from the low. Also the volatility this week growed up to 195 points and I expect to see more move unless this weeks position rearangement (still end of quarter) slow down the pace of price action and so we may see ranging contitions, before any significant move.

Daily chart with 50-100 ma's and Monthly pivot points.

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Have a great rest of the weekend!
Looking for profitable short term trades ...|
  • #158,105
  • Edited 3:12pm Oct 1, 2022 2:35pm | Edited 3:12pm
Hi there.

My plan for intraday trading.

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Manual Trade System All Time Return: na
  • #158,106
  • Oct 1, 2022 4:34pm Oct 1, 2022 4:34pm
Weekly Outlook

  1. My plans for next week depends on 2 scenarios:
  2. Scenario-1: IF the new week starts bullish, to me, it would mean that wave A of this ABC correction (which is going to build wave 4) is not complete yet. If so, I would follow the trend until 0.9864 gets properly retested and wave A is hopefully complete. If I sense though that momentum is strong to pierce higher levels until let's say 1.0013 area, I would continue to follow trend until I see clear reversal patterns. Overall, the area between 0.9860<-->1.0015 is my anticipated zone where wave 4 should end! Once wave 4 is over, we can prepare to sell! But no rush! IMHO, wave 4 should end on Tuesday or latest Wednesday! Time will tell!
  3. Scenario-2: IF the new week starts bearish though, I would patiently wait for the right moment to buy dips. For that, I first would like to see a drop all the way down to 0.9630 area... If I see strong momentum during this drop, I would even suggest to wait until bears attack deeper areas like let's say 0.9502.. If this drop plays out, to me, it would be the wave B of this ABC correction. Once/if all this plays out, I would wait to see reversal patterns to jump in long for a wave C to the upside that finally completes wave 4. If Scenario 2 plays out, this whole week might not be long enough to complete wave 4 since wave B and wave C could rollover even to upcoming weeks. Time will tell..
  4. Long story short: I believe we are inside an ABC correction that will form a wave 4. We are probably still inside wave A, so trade accordingly!

I hope it helps... Keep enjoying your weekends folks

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Focus only on what truly matters!
  • #158,107
  • Oct 1, 2022 6:08pm Oct 1, 2022 6:08pm
Emergency Fed Meeting in US Monday! I would guess they are going to let off the gas. I would guess USD would drop against all pairs. So bullish EURUSD
  • #158,108
  • Oct 1, 2022 7:17pm Oct 1, 2022 7:17pm
Quoting glenngie
Emergency Fed Meeting in US Monday! I would guess they are going to let off the gas. I would guess USD would drop against all pairs. So bullish EURUSD
It's clear what the meeting is about, since they said it on the website.
  • #158,109
  • Oct 1, 2022 8:06pm Oct 1, 2022 8:06pm
Quoting Ata-Turkoglu
Weekly Outlook My plans for next week depends on 2 scenarios: Scenario-1: IF the new week starts bullish, to me, it would mean that wave A of this ABC correction (which is going to build wave 4) is not complete yet. If so, I would follow the trend until 0.9864 gets properly retested and wave A is hopefully complete. If I sense though that momentum is strong to pierce higher levels until let's say 1.0013 area, I would continue to follow trend until I see clear reversal patterns. Overall, the area between 0.9860<-->1.0015 is my anticipated zone where...
On the same page mostly. .9900/.9950 to me on the up, may drop after .99. But i opted out on longing, from .98 to tp .99. I like more reward. .99, 1.0348. 1.0805.5 are within the conversation to me. Before making those big lower lows 0.8 0.77.. So next week I will see if .9678 holds baseline support before Wednesday. I think it may bounce .9678/90 ish. This buy is if it hasn't gone to .99 first. Either .9690/78 is buy to me. or .9900/5x is a sell to me. Getting there I will not trade. I dont risk more then about 40 pips on this little ones,
those who can, do. those who cant, talk about those who can
  • #158,110
  • Oct 1, 2022 8:10pm Oct 1, 2022 8:10pm
Quoting glenngie
Emergency Fed Meeting in US Monday! I would guess they are going to let off the gas. I would guess USD would drop against all pairs. So bullish EURUSD
How does that play out if those Russian gas lines are empty? PA may be closer to 0.8 than we realize.
those who can, do. those who cant, talk about those who can
  • #158,111
  • Oct 1, 2022 8:55pm Oct 1, 2022 8:55pm
Quoting investing101
{quote} It's clear what the meeting is about, since they said it on the website.
https://www.federalreserve.gov/newsevents.htm
those who can, do. those who cant, talk about those who can
  • #158,112
  • Oct 1, 2022 11:02pm Oct 1, 2022 11:02pm
Quoting gatorinla
{quote} https://www.federalreserve.gov/newsevents.htm

Matter(s) to be considered:
1.
Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks.



https://www.federalreserve.gov/about...1003closed.htm
  • #158,113
  • Oct 1, 2022 11:24pm Oct 1, 2022 11:24pm
  •  Evt
  • | Joined Sep 2011 | Status: Professional Trader | 86 Posts
ABC correction and lost steam. Resistance seems safe. At least down to 0.9540 for a double bottom or further
Audentes fortuna iuvat
  • #158,114
  • Oct 2, 2022 4:52am Oct 2, 2022 4:52am
wow
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  • #158,115
  • Oct 2, 2022 4:56am Oct 2, 2022 4:56am
Quoting Happymorning
wow {image}
What is the reason for the wow? I hope you don't think the green price line is a move on the chart.
Everyone can see the chart, but only a few can actually read it.
  • #158,116
  • Oct 2, 2022 6:15am Oct 2, 2022 6:15am
Quoting OnlineAddict
{quote} What is the reason for the wow? I hope you don't think the green price line is a move on the chart.
The max move i`ve seen on weekend is about 100 ppt.
  • #158,117
  • Oct 2, 2022 8:15am Oct 2, 2022 8:15am
My idea about EUR/USD
Isee Broadening Bottom Pattern

God only knows What will happen this week
We only guess
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  • #158,118
  • Oct 2, 2022 8:27am Oct 2, 2022 8:27am
Quoting Happymorning
{quote} The max move i`ve seen on weekend is about 100 ppt.
But that line on the chart doesn't represent any move. Its just a line, some kind of a glitch in charting.
Everyone can see the chart, but only a few can actually read it.
  • #158,119
  • Oct 2, 2022 8:33am Oct 2, 2022 8:33am
Quoting investing101
{quote} Matter(s) to be considered: 1. Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. https://www.federalreserve.gov/about...1003closed.htm
Hmmm, looks like swaps again.
Inserted Video
2007 b4 2008 crises.
those who can, do. those who cant, talk about those who can
  • #158,120
  • Oct 2, 2022 8:41am Oct 2, 2022 8:41am
Quoting Happymorning
wow {image}
that looks more like a data error

i checked XE and see nothing like it
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
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