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  • #160,701
  • Nov 8, 2022 9:25am Nov 8, 2022 9:25am
Quoting Erkat
{quote} If it grows to the range of 0050 to 0080 at the current stage, a short-term decline could be in the plan. This sell is only short-term and its target is limited to the 99xx channel...An upward move towards 1.0227 is likely after that
that will depend on the CPI report on Thursday

I predict a strong inflation report, including the Core data, which should support the USD
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #160,702
  • Nov 8, 2022 9:33am Nov 8, 2022 9:33am
Thoughts please. Care to chip in why EUR is still not dropping despite several days of negative divergence?

Thanks!
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"No trade is still a trade." - Peter Borish
  • #160,703
  • Nov 8, 2022 9:36am Nov 8, 2022 9:36am
Quoting Lbrto
Thoughts please. Care to chip in why EUR is still not dropping despite several days of negative divergence? Thanks! {image}
wait until Thursday, after the CPI report is released and it shows that inflation is still very hot
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #160,704
  • Nov 8, 2022 9:40am Nov 8, 2022 9:40am
Quoting Erkat
{quote} If it grows to the range of 0050 to 0080 at the current stage, a short-term decline could be in the plan. This sell is only short-term and its target is limited to the 99xx channel...An upward move towards 1.0227 is likely after that
There is a high probability that the price will enter this short-term correction before conquering the previous peak (1.0095).
Half of the time, the market is building resistance and support levels, and
  • #160,705
  • Nov 8, 2022 9:40am Nov 8, 2022 9:40am
Dollar Index last hope 109.33

Sell order placed 1.0098
SL will place manually
Target 50 pips
PaRaM
  • #160,706
  • Nov 8, 2022 9:40am Nov 8, 2022 9:40am
I would be careful adding shorts. I just checked and saw about 63% of shorts on this pair. Hmm... Still holding my one and only short from 0.9990 and will wait.
  • #160,707
  • Nov 8, 2022 9:41am Nov 8, 2022 9:41am
Quoting ForexGoose
{quote} wait until Thursday, after the CPI report is released and it shows that inflation is still very hot
Hi bro , do you live in USA ? sorry but just want to know why u can conclude that inflation is still very high in the moment.
  • #160,708
  • Nov 8, 2022 9:41am Nov 8, 2022 9:41am
the pinkish red zone is like when you fall asleep at the wheel and swerve onto the rumble strips.... except the rumble strips vibrational tone is to the tune of (SELL SELL SELL SELL SELL)
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always shorting eu All Time Profit: $1,476
  • #160,709
  • Nov 8, 2022 9:42am Nov 8, 2022 9:42am
Quoting Lbrto
Thoughts please. Care to chip in why EUR is still not dropping despite several days of negative divergence? Thanks! {image}
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Imagine Christine Lagarde and you'll understand
...because you never know - until you do!
  • #160,710
  • Nov 8, 2022 9:42am Nov 8, 2022 9:42am
Quoting ForexGoose
{quote} wait until Thursday, after the CPI report is released and it shows that inflation is still very hot
Thanks!
"No trade is still a trade." - Peter Borish
  • #160,711
  • Nov 8, 2022 9:44am Nov 8, 2022 9:44am
Quoting Lbrto
Thoughts please. Care to chip in why EUR is still not dropping despite several days of negative divergence? Thanks! {image}
Hi mate ! I invite you to look back in history and spot where the given divergence occurred. The more occurences you spot and analyze the better.

You will notice many things, like the fact that divergence alone is not always indicative of a reversal. When a divergence occurs, an additional good setup is usually necessary to get in. Whether it's with fundamental, technical, cycle, pattern, PA techniques, etc.

Hope your new observations on the matter help you, cheers mate
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #160,712
  • Nov 8, 2022 9:44am Nov 8, 2022 9:44am
Quoting hans91
{quote} Hi bro , do you live in USA ? sorry but just want to know why u can conclude that inflation is still very high in the moment.
because of this

https://www.bls.gov/cpi/
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #160,713
  • Nov 8, 2022 10:00am Nov 8, 2022 10:00am
Quoting Js3mwtRc
{quote} EU is currently sitting around 1.0002 after it broke and closed up, now looking at the high of 1.0034 and above it can extend at 1.0046/52. Below the 0.9973 support should keep it or it risks another one drop to 0.9967 and below it at 0.9925. If the bears don't take the advantage now then only one way is left
Daily pips and 0046/52 achieved plus some bonus. Now on the way up I see only 1.0094 and then the monthly resistance level at 1.0107 that could come into play. Below 1.0045 it will target 0.9999 and 0.9986.
Looking for profitable short term trades ...|
  • #160,714
  • Nov 8, 2022 10:00am Nov 8, 2022 10:00am
Quoting ForexGoose
{quote} because of this https://www.bls.gov/cpi/
if it's true, we may got 200 - 300 pips drop till friday.
  • #160,715
  • Nov 8, 2022 10:06am Nov 8, 2022 10:06am
Quoting Mitiblotch
I would be careful adding shorts. I just checked and saw about 63% of shorts on this pair. Hmm... Still holding my one and only short from 0.9990 and will wait.
don't trust broker long/short data, market is too big
  • #160,716
  • Nov 8, 2022 10:08am Nov 8, 2022 10:08am
Quoting investing101
{quote} don't trust broker long/short data, market is too big
True, however. I am looking at 10 brokers put together and these are the biggest brokers. And it works most times. I believe that's the reason EU has refused to drop. Also, market is too big but market makers move price wherever they please. They have access to true aggregated broker stats. The wisdom is knowing how to use it.
  • #160,717
  • Nov 8, 2022 10:09am Nov 8, 2022 10:09am
When we have price rising like this, I just took one or two positions in profit off my trades.

Today, I closed a long at +201 pips. I'll let the rest continue running.

A quick updated to my expected price range into CPI: between 300% to 200% Fib, i.e. 0.985 to 1.012
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  • #160,718
  • Nov 8, 2022 10:10am Nov 8, 2022 10:10am
The bulls seem good, on the 1H candle.
  • #160,719
  • Nov 8, 2022 10:16am Nov 8, 2022 10:16am
Quoting Ata-Turkoglu
D1 shows a potential target around 1.0066, but I also have 1.0019 before that which we must carefully watch. {image}
The price hit exactly the target of this good analysis⁦⁩.. Now the price has to decide⁦⁩
Half of the time, the market is building resistance and support levels, and
  • #160,720
  • Nov 8, 2022 10:17am Nov 8, 2022 10:17am
Quoting Erkat
{quote} The price hit exactly the target of this good analysis⁦⁩.. Now the price has to decide⁦⁩
Yes levels matter BUT momentum matters too..

Based on M30, 1.0055 is now my nearest support... 1.0079 has begun to brake bull momentum..
Focus only on what truly matters!
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