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  • #172,061
  • May 11, 2023 12:11pm May 11, 2023 12:11pm
Quoting MTF Test
{quote} Something to think about A reactive mindset is common, and there are many reasons a leader might develop this management style. Some people develop a reactive personality due to their environment and upbringing, while others adopt these qualities from social and work experiences. One of the most important factors is fear. People with a reactive mindset tend to be more fearful than those with a proactive mindset. They may be afraid of change, taking risks, or failing. This fear can prevent them from taking the necessary actions to achieve...
very well said!
Live long and prosper with green pips!
  • #172,062
  • Edited 1:01pm May 11, 2023 12:41pm | Edited 1:01pm
Quoting fontu
checking usdx , not done any great for reversal yet , now correcting and may another spike up next day. great resistances ahead . lets see {image} {image} {image}
It might be time to consider it.
A number of reasons speak for it. The old proverb "... sell in may..." we all know, the rattle in the market we start feeling (ahh... another bank belly up) and so on.
The charts getting clearer too. On the monthly the DXY has clearly hit a major resistance zone. Betting for a substantial drop seems not the smartest idea for now.
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And on the weekly it is clear also how many times the 100.8xx has been touched. This is a strong level that goes back to 2015.
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DXY has to work through the jungle to 102.50. But then it could go quickly for 103.5 Jan year opening.
Hence, for this reason I am since the beginning of the week on the sell side for the EUR. (everyone can see from my posts)
  • #172,063
  • May 11, 2023 1:35pm May 11, 2023 1:35pm
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  • #172,064
  • May 11, 2023 2:10pm May 11, 2023 2:10pm
Quoting andvk74
{image}
Are you concerned that today's low took out the low from April?

Wouldn't that indicate that we are probably going lower in the next few weeks?
  • #172,065
  • May 11, 2023 2:13pm May 11, 2023 2:13pm
Quoting zippo22
{quote} It might be time to consider it. A number of reasons speak for it. The old proverb "... sell in may..." we all know, the rattle in the market we start feeling (ahh... another bank belly up) and so on.
Question:

What (if any) effect do you see the US debt ceiling have upon DXY? I would imagine that if a country's currency is close to "default" then the value "should" tank; doesn't look that way with DXY as it is holding 102 as I write.
  • #172,066
  • May 11, 2023 3:09pm May 11, 2023 3:09pm
Quoting fx6996
{quote} Question: What (if any) effect do you see the US debt ceiling have upon DXY? I would imagine that if a country's currency is close to "default" then the value "should" tank; doesn't look that way with DXY as it is holding 102 as I write.
What traders should watch out for is a ratings downgrade. If that happens, you can count on higher bond yields and a strong risk-off environment.
  • #172,067
  • May 11, 2023 3:31pm May 11, 2023 3:31pm
bad US data and opposite market reaction. Weird market
  • #172,068
  • May 11, 2023 3:40pm May 11, 2023 3:40pm
Quoting fx6996
{quote} Are you concerned that today's low took out the low from April? Wouldn't that indicate that we are probably going lower in the next few weeks?
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  • #172,069
  • May 11, 2023 3:51pm May 11, 2023 3:51pm
Quoting fx6996
{quote} Question: What (if any) effect do you see the US debt ceiling have upon DXY? I would imagine that if a country's currency is close to "default" then the value "should" tank; doesn't look that way with DXY as it is holding 102 as I write.
In the immediate term (next days to weeks) the story spooks the market. Yes... the dollar looses value in real terms over time... but so do all other currencies too.
It is more the psychological effect. It creates the feeling of insecurity and that usually drives the money to the secure port (i.e. treasuries) which in return creates a demand for $$$.

On the longer side - August and on - the debt ceiling has to be raised. We all know how this theater ends. The question is only, by how much? And here comes the paradox -> if the increase is on the higher side everybody thinks ohh... by all this new money the Dollar will go down. Yes... eventually in some years.
But in the immediate after time the opposite might be the case.

Because the base money has to be created first... so the Treasury Dept has to issue bills and bonds first to "earn" the money the gov will spend (in future). But all the "bills & bonds" issued then will drain $$$ from the market to some extend. Not a few foreigners will also buy the "bills & bonds" so they have to buy $$$ first in order to get the bonds.

That is DXY positive for a while... and I guess that is what the market is preparing for and that is what we see in the DXY chart.

And btw... forget the forex traders (especially all the small fishes aka retail) move such trend changes. Better think about the pension funds! The western pension funds are MASSIVE liquidity pools.
  • #172,070
  • May 11, 2023 3:56pm May 11, 2023 3:56pm
Quoting andvk74
{quote} {image}
yes... that's the rotation in the other currency pairs (which I will not name because every insider here knows why ) which I mentioned that I am observing.
  • #172,071
  • May 11, 2023 3:59pm May 11, 2023 3:59pm
Meanwhile, on H1...

I am still thinking 50/50 for both sides... Nothing for sure yet... While candles are below 1.0926 area, another bearish attempt during Asian session seems more likely... BUT latest tomorrow around London (or if candles can bypass the ellipse) bulls might try too...

I keep my long order for now until this limbo situation shifts into something more obvious... Time will tell...
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Focus only on what truly matters!
  • #172,072
  • May 11, 2023 4:07pm May 11, 2023 4:07pm
Quoting andvk74
{quote} {image}
Thanks for your contributes andvk74. Can you please explain this figures? Thanks.
  • #172,073
  • May 11, 2023 4:07pm May 11, 2023 4:07pm
Good evening, hope you're great. For tomorrow, I have 1.0943 as resistance, and 1.0892 as support;
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  • #172,074
  • Edited 8:40pm May 11, 2023 7:56pm | Edited 8:40pm
i ll wait 087x
Inserted Video
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  • #172,075
  • May 11, 2023 8:19pm May 11, 2023 8:19pm
Quoting Ultras
{quote} Added another Buy @ 1.0900
These trades are secured by moving SL at BE
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  • #172,076
  • May 11, 2023 10:21pm May 11, 2023 10:21pm
Plan starts with last leg down, apparently completed, a small leg still may down below 0899. So 0914, below 0909 or even below a little 0899 may buy for 0947 above target, better 0960. Lets see
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #172,077
  • Edited May 12, 2023 12:04am May 11, 2023 10:52pm | Edited May 12, 2023 12:04am
Quoting zippo22
{quote} It might be time to consider it. A number of reasons speak for it. The old proverb "... sell in may..." we all know, the rattle in the market we start feeling (ahh... another bank belly up) and so on. The charts getting clearer too. On the monthly the DXY has clearly hit a major resistance zone. Betting for a substantial drop seems not the smartest idea for now. {image}And on the weekly it is clear also how many times the 100.8xx has been touched. This is a strong level that goes back to 2015. {image}DXY has to work through the jungle...
Lets see what happen, a little up to 102.015 to 102.17 be decision making, anyway watching weekly close competition for 101.72/73, so may move towards week end. Take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #172,078
  • May 11, 2023 10:59pm May 11, 2023 10:59pm
Based on technical analysis indicators, the price has fallen below the support level between the 200-day moving average and the moving average bridge. I plan to initiate a short position.
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  • #172,079
  • May 11, 2023 11:36pm May 11, 2023 11:36pm
EU closed above 0900 but not 0942 so we have to wait for these two levels to play out, resistance is at near 1000 and support at yesterday's low, below it can travel to around 0850.The vol is 49 pips

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Looking for profitable short term trades ...|
  • #172,080
  • May 11, 2023 11:53pm May 11, 2023 11:53pm
Buy Stop 0926, TP 0943 and 0958
Holy Betting Grail strategy
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