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  • #172,001
  • May 11, 2023 3:39am May 11, 2023 3:39am
It broke 1.09 [* 1.094] previous low and didn't have the force to retest it.
Today's range still only little more than 75 PiPs. (100 PiPs daily range is common with up to 220 PiPs in a day seen a few months back)

Seems to me the down direction is set and we are in an impulsive wave that could see well below 1.085 in two or three days.
Wouldn't count on a retr. to 1.095 and even if, I'd still be short positioned.
Practitioner of the cryptic trading arts
  • #172,002
  • May 11, 2023 3:46am May 11, 2023 3:46am
Choppy times.. Don't get hurt by annoying mean reversals and sucker punch candles on smaller timeframes.. No rush..

1.090x area is still overall support on H4 and DAILY...
Focus only on what truly matters!
  • #172,003
  • May 11, 2023 3:50am May 11, 2023 3:50am
Thinking of this

15 min
Attached Image (click to enlarge)
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Looking for profitable short term trades ...|
  • #172,004
  • May 11, 2023 3:53am May 11, 2023 3:53am
As seen from the 1W pattern, if this one keeps he same pace after tomorrow, the next 2 weeks could follow the same path in this downtrend.
Keep trading and learning or keep learning and trading!
  • #172,005
  • May 11, 2023 3:54am May 11, 2023 3:54am
Quoting Js3mwtRc
Thinking of this 15 min {image}
" Me like " to sell that one again
Keep trading and learning or keep learning and trading!
  • #172,006
  • May 11, 2023 3:59am May 11, 2023 3:59am
Diamond shape on 1m
  • #172,007
  • May 11, 2023 4:00am May 11, 2023 4:00am
Have been away, so whats causing that sudden drop? Don’t see any red news.

0909 remain key support though despite 0940 support broken and may turn into resistance.

1020 not hit too
Patience, Emotion Control and Discipline.
  • #172,008
  • May 11, 2023 4:00am May 11, 2023 4:00am
Quoting arthurbolbos
{quote} " Me like " to sell that one again
You can freelly go ahead and do it, but you must watch a big bullish candle or at least a close above it should turn the tide toward the daily pivot again!

Quoting Js3mwtRc
Slow day I got bored and took only 10 pips, better than minus!
I had EU from Monday but got bored as usually
Looking for profitable short term trades ...|
  • #172,009
  • May 11, 2023 4:32am May 11, 2023 4:32am
Well, it developed as anticipated. I do not see a potential for a bullish bounce to 1.10xx. I noticed a rotation pattern between the pairs that - how I see it - supports the DXY for a serious move up.
The Biden scandals and the debt ceiling together might rattle the market a little, so i feel a profit taking round of the 1.05xx - 1.1100 run is in the cards. The 3 tines knock on the 1.11 was a clean signal... for me at least.

For the next days I see that least the 38.2% will be in the crosshairs of the market. Maybe next week even the 50%... but for that we might need a few days more.

Attached Image (click to enlarge)
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  • #172,010
  • May 11, 2023 4:32am May 11, 2023 4:32am
All these will expiry today, EU will dry and run like crazy anywhere! Just the levels to watch.

option expiries for May 11 NY cut at 10:00 Eastern Time, via DTCC, can be found below.
- EUR/USD: EUR amounts

  1. 1.0895-1.0900 1.7b
  2. 1.0925 1.7b
  3. 1.0950 1.1b
  4. 1.0985 1.5b
  5. 1.1000 1.5b
  6. 1.1040-50 1.4b
  7. 1.1100 1.3b


Source

Looking for profitable short term trades ...|
  • #172,011
  • May 11, 2023 4:41am May 11, 2023 4:41am

It is smart thinking. Dollar
There will be impactful news today
  • #172,012
  • May 11, 2023 4:44am May 11, 2023 4:44am
Quoting Js3mwtRc
All these will expiry today, EU will dry and run like crazy anywhere! Just the levels to watch. option expiries for May 11 NY cut at 10:00 Eastern Time, via DTCC, can be found below. - EUR/USD: EUR amounts 1.0895-1.0900 1.7b 1.0925 1.7b 1.0950 1.1b 1.0985 1.5b 1.1000 1.5b 1.1040-50 1.4b 1.1100 1.3b Source
I am surprised there is no 1.0860 that could well be the bottom for this week.
We watch the charts from every angle so you don't have to!!
  • #172,013
  • May 11, 2023 4:48am May 11, 2023 4:48am
Quoting Js3mwtRc
All these will expiry today, EU will dry and run like crazy anywhere! Just the levels to watch. option expiries for May 11 NY cut at 10:00 Eastern Time, via DTCC, can be found below. - EUR/USD: EUR amounts 1.0895-1.0900 1.7b 1.0925 1.7b 1.0950 1.1b 1.0985 1.5b 1.1000 1.5b 1.1040-50 1.4b 1.1100 1.3b Source
It might go up then, a lot is above current level.

And 1.0918 is a support level.
  • #172,014
  • May 11, 2023 5:09am May 11, 2023 5:09am
This is still a target for me.
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  • #172,015
  • May 11, 2023 5:14am May 11, 2023 5:14am
Quoting Eren10
{quote} It might go up then, a lot is above current level. And 1.0918 is a support level.
I thought the same only one left untouched!
Looking for profitable short term trades ...|
  • #172,016
  • May 11, 2023 5:14am May 11, 2023 5:14am
Absolutely everyone loves it when it's on profit.
I hope we all win today
  • #172,017
  • May 11, 2023 5:20am May 11, 2023 5:20am
Quoting andvk74
This is still a target for me. {image}
How low do you see this going?
We watch the charts from every angle so you don't have to!!
  • #172,018
  • May 11, 2023 5:35am May 11, 2023 5:35am
Quoting pedro319
{quote} How low do you see this going?
IMO, this low should NOT be taken before the reversal.
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  • #172,019
  • May 11, 2023 5:36am May 11, 2023 5:36am
Quoting andvk74
{quote} IMO, this low should NOT be taken before the reversal. {image}
Thank you, it agrees with my levels.
We watch the charts from every angle so you don't have to!!
  • #172,020
  • May 11, 2023 5:43am May 11, 2023 5:43am
Pair is likely to vacillate between 1.1068 and 1.0820 in a consolidation mode, unless some strong impetus pushes EUR beyond each resistance/support...

Happy trading!
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