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  • #160,961
  • Nov 11, 2022 1:44am Nov 11, 2022 1:44am
Quoting Austyno
Exciting day for bulls , hope you guys were not burnt, I expect a retracement to 1.01350 zone where bulls will most likely take back control and continue the towards the main target @ 1.03900(200ema on daily)
Do you think the bullish revolution has already turned the trend or is it now plain premature to assume so?
  • #160,962
  • Nov 11, 2022 2:29am Nov 11, 2022 2:29am
Quoting nic9man
According to my indicators 1.0320 area has potential for a massive turn.
Just reconsidered the details, for me the short area is 1.0265 - 1.0325, not sure how far it will manage to squeeze.
Another day, another dollar.
  • #160,963
  • Nov 11, 2022 2:31am Nov 11, 2022 2:31am
Quoting yvestrcz
{quote} Do you think the bullish revolution has already turned the trend or is it now plain premature to assume so?
The trend for now is slightly bullish because of the current monthly candle. I actually think this month will close bearish, which will resume the major downtrend but lots of patience is required. The question is which monthly high will initiate the downpour... My guess is 1.03000 zone.

Another scenario is if this month doesn't close bearish, the next month will engulf it.
Risk comes from not knowing what to do
  • #160,964
  • Nov 11, 2022 2:57am Nov 11, 2022 2:57am
Bear blood everywhere. I think they won't rest until they take out all shorts before the retracement will happen. Asia finally bought and London is buying. Scary. Imagine London buying 100 pips above from daily pivot! Lol...
  • #160,965
  • Nov 11, 2022 2:58am Nov 11, 2022 2:58am
Quoting fxcontest
{quote} SL All Buy 1.0206 -1.210, trailing 22 pips, watching 1.0245
1.0245 breakout, then 1.0348 or 1.0365
Holy Betting Grail strategy
  • #160,966
  • Nov 11, 2022 3:06am Nov 11, 2022 3:06am
Price did attempt higher following my last post here.

It broke above 1.02 level this morning, when London came in, continue buying USD. DXY dipped below a short-term support, that fuelled the rally on EURUSD. Now, I'm expecting price to test the 100% Fib level I mentioned previously, at 1.036 (H6 chart, PP2). After that, there's a small chance it might attempt 1.042 with a wick up (D1 chart, WP2), before retreating.

This morning, pre-London open, I saw the price bounce off the 168% Fib @ 1.02 line, testing that level on shorter time frames, turning it into short term support for now. Rally can continue, given renewed optimism in the global risk markets.

It could be trading range bound next week, since we already had two, well three high impact news events during the first 10 days of November: NFP, CPI, and FOMC. There needs to be a strong fundamental trigger for market to buy back US dollar, otherwise EURUSD will have difficulty going down. Parity (also 261% Fib) is a very strong support for now.

I'll travel after today, so will not check-in on threads too freqeuntly. I'm thorwing in a second chart (D1 time frame). The 200-SMA on daily is now at 1.042 (61% Fib). See you guys after next week, if there's no wild moves on the EURUSD pair in the mean time.
Attached Image(s) (click to enlarge)
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  • #160,967
  • Nov 11, 2022 3:10am Nov 11, 2022 3:10am
Quoting cchin
Price did attempt higher following my last post here. It broke above 1.02 level this morning, when London came in, continue buying USD. DXY dipped below a short-term support, that fuelled the rally on EURUSD. Now, I'm expecting price to test the 100% Fib level I mentioned previously, at 1.036 (H6 chart, PP2). After that, there's a small chance it might attempt 1.042 with a wick up (D1 chart, WP2), before retreating. This morning, pre-London open, I saw the price bounce off...
Very soon all your trades will come out in profit. Does your broker not charge you swaps, or there is another way you mitigate that?
  • #160,968
  • Nov 11, 2022 3:10am Nov 11, 2022 3:10am
Quoting Erkat
{quote} {image} Based on the previous analysis, we are now in the range of the wave indicated by the red arrow.
Most likely, the wave indicated by the red arrow has ended and we are about to start the wave indicated by the blue arrow
Attached Image (click to enlarge)
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Half of the time, the market is building resistance and support levels, and
  • #160,969
  • Nov 11, 2022 3:14am Nov 11, 2022 3:14am
First good 1minute emgulfing sell candle with Hugh volume and followed by some others. Let's see if there will be break ofmstructure around this area then it means 1.0273 might hold for the day if the Soverign price movers agree. On another though we have about 1.2bn worth of options expiring around 1.0240. This might keep price close around this area before taking a good dip.
  • #160,970
  • Nov 11, 2022 3:29am Nov 11, 2022 3:29am
Quoting Mitiblotch
{quote} Very soon all your trades will come out in profit. Does your broker not charge you swaps, or there is another way you mitigate that?
Yes, that was answered back in Aug 19: here.
  • #160,971
  • Nov 11, 2022 4:03am Nov 11, 2022 4:03am
1.0285/1.0300 may stop its advance but we will not see a significant drop and the start of a new downtrend yet simply because later in the US session the banks are closed for the Veterans day - Holiday.
Looking for profitable short term trades ...|
  • #160,972
  • Nov 11, 2022 4:16am Nov 11, 2022 4:16am
Quoting Js3mwtRc
1.0285/1.0300 may stop its advance but we will not see a significant drop and the start of a new downtrend yet simply because later in the US session the banks are closed for the Veterans day - Holiday.
Yup didnt see much room for bear today. But too high to add any long! I am still keeping one long trade from the bottom and now short from 0272, aiming 0240ish only.

or should probably see 0220
Patience, Emotion Control and Discipline.
  • #160,973
  • Nov 11, 2022 4:23am Nov 11, 2022 4:23am
Quoting johncen
{quote} Yup didnt see much room for bear today. But too high to add any long! I am still keeping one long trade from the bottom and now short from 0272, aiming 0240ish only. or should probably see 0220
Maybe 1.0235/27 zone, but only below your target! A bullish weekly close is coming.
Looking for profitable short term trades ...|
  • #160,974
  • Nov 11, 2022 4:26am Nov 11, 2022 4:26am
Quoting Js3mwtRc
{quote} Maybe 1.0235/27 zone, but only below your target! A bullish weekly close is coming.
Yup yup likely the case. Will be my last trade of the week. Green pips to you
Patience, Emotion Control and Discipline.
  • #160,975
  • Nov 11, 2022 4:27am Nov 11, 2022 4:27am
1/2 short active, SL 1.04.
Another day, another dollar.
  • #160,976
  • Nov 11, 2022 4:34am Nov 11, 2022 4:34am
Quoting johncen
{quote} Yup yup likely the case. Will be my last trade of the week. Green pips to you
Thanks I'll trade the next week again, green pips!
Looking for profitable short term trades ...|
  • #160,977
  • Nov 11, 2022 4:50am Nov 11, 2022 4:50am
Going short from 1.0272 for the hell of it.
  • #160,978
  • Nov 11, 2022 4:52am Nov 11, 2022 4:52am
added more shorts (im slowly running outta margin) as we are completely offroad and i think we just hit a deer... potentially waking up the bear next door. target is bottom of the road and if movement is nice the deep blue sea awaits
Attached Image (click to enlarge)
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always shorting eu All Time Profit: $1,476
  • #160,979
  • Nov 11, 2022 5:28am Nov 11, 2022 5:28am
We are at an important level. Long ones should be careful.
Attached Image (click to enlarge)
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Swing Trader
  • #160,980
  • Edited 5:44am Nov 11, 2022 5:33am | Edited 5:44am
Best to get out of the way of this bull. No sight of bear so the bulls have it. This may continue all day non stop. Until 1.0240 breaks down it may be unfruitful trying to go short, even for a scalp.

WR3 at 1293 touched.
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Mozaith