Any feelings about what the CPI readings will be? Currently thinking of going full margin on Sell
Stay low, Go fast - No luck, All skill
- #165,263
- Jan 12, 2023 7:40am Jan 12, 2023 7:40am
- Joined Dec 2021 | Status: hungry for pizza & burgers | 2,542 Posts
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
- #165,264
- Jan 12, 2023 7:45am Jan 12, 2023 7:45am
- Joined May 2014 | Status: Full Time Trader | 27,259 Posts
Waiting for market to decide what to do with that long ass doji on M15.. 
Focus only on what truly matters!
- #165,266
- Jan 12, 2023 7:52am Jan 12, 2023 7:52am
- Joined Jul 2011 | Status: Trader | 3,177 Posts
Holy Betting Grail strategy
Okay. I closed one of my EURUSD long again, when price briefly hit 1.0807, entered at 0.9791, netting 101 pips gain. I still hold on to 6 long positions. In order for me to close another long, price really has to spike well above 1.085.
Let's see how this CPI did. US CPI for Dec '23 came in as expected. Headline 6.5%, core 5.7%. That was already priced in by the market. In line of expectation, market quickly moved to job claims number. Claims weekly came in at 205k, which was much better than estimate, and 1k fewer than previous week. I can expect this EURUSD to hover around the 1.08 handle (61% Fib on my chart), until the next trigger: Biden's speech in inflation control at 10am eastern.
Longer term, I'll see price attempts to test the 50-SMA on daily. This line will ascend as price continues at elevated levels. Now, 1.11 is not too far away from where we're currently at. But, to reach there, we need a strong macro trigger. Let's see if tomorrow's Michigan reading could provide a boost for that, or if it disappoints. I know I've been saying this all along, about going short. I'm still not into that mood.
Let's see how this CPI did. US CPI for Dec '23 came in as expected. Headline 6.5%, core 5.7%. That was already priced in by the market. In line of expectation, market quickly moved to job claims number. Claims weekly came in at 205k, which was much better than estimate, and 1k fewer than previous week. I can expect this EURUSD to hover around the 1.08 handle (61% Fib on my chart), until the next trigger: Biden's speech in inflation control at 10am eastern.
Longer term, I'll see price attempts to test the 50-SMA on daily. This line will ascend as price continues at elevated levels. Now, 1.11 is not too far away from where we're currently at. But, to reach there, we need a strong macro trigger. Let's see if tomorrow's Michigan reading could provide a boost for that, or if it disappoints. I know I've been saying this all along, about going short. I'm still not into that mood.
- #165,268
- Jan 12, 2023 7:59am Jan 12, 2023 7:59am
- Joined Dec 2021 | Status: hungry for pizza & burgers | 2,542 Posts
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
- #165,270
- Edited 8:56am Jan 12, 2023 8:35am | Edited 8:56am
- Joined Sep 2017 | Status: Trader | 4,493 Posts
- #165,271
- Edited 9:09am Jan 12, 2023 8:54am | Edited 9:09am
- Joined Jul 2022 | Status: Trader | 1,412 Posts
That was a nice sell, but i tp here 
and buying @poc , let see
TP @ 1.0777
and buying @poc , let seeTP @ 1.0777
- #165,273
- Jan 12, 2023 9:12am Jan 12, 2023 9:12am
- Joined Jul 2011 | Status: Trader | 3,177 Posts
Holy Betting Grail strategy
- #165,274
- Jan 12, 2023 9:14am Jan 12, 2023 9:14am
- Joined Dec 2021 | Status: hungry for pizza & burgers | 2,542 Posts
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
- #165,276
- Jan 12, 2023 9:18am Jan 12, 2023 9:18am
- Joined Jul 2011 | Status: Trader | 3,177 Posts
Holy Betting Grail strategy
- #165,277
- Edited 9:38am Jan 12, 2023 9:20am | Edited 9:38am
- Joined May 2014 | Status: Full Time Trader | 27,259 Posts
Focus only on what truly matters!
- #165,278
- Jan 12, 2023 9:21am Jan 12, 2023 9:21am
- Joined Feb 2020 | Status: Monday-Friday | 1,161 Posts
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