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  • #177,961
  • Aug 11, 2023 11:26am Aug 11, 2023 11:26am
Quoting Mitiblotch
Selling 1.0970. Bulls have failed. Hopefully we finally get 1.0920 today.
Out at 1.0947. Done for the day.
  • #177,962
  • Aug 11, 2023 11:40am Aug 11, 2023 11:40am
wave .1064-.0942 over, likely to be 23.6 correction (short .0971)
i`m awaiting last drop during asia and hope for .0912
any ideas about prolonging flat .0910 - .1040 till end of august ?
  • #177,963
  • Aug 11, 2023 12:05pm Aug 11, 2023 12:05pm
Quoting Happymorning
wave .1064-.0942 over, likely to be 23.6 correction (short .0971) i`m awaiting last drop during asia and hope for .0912 any ideas about prolonging flat .0910 - .1040 till end of august ?
That's the usual behaviour of August. All the big bank guys go on holidays to spend their money so market dies off and a tight range ensues.
  • #177,964
  • Aug 11, 2023 12:11pm Aug 11, 2023 12:11pm
Quoting Mitiblotch
{quote} That's the usual behaviour of August. All the big bank guys go on holidays to spend their money so market dies off and a tight range ensues.
interesting, let me mentally bookmark this .
Risk comes from not knowing what to do
  • #177,965
  • Edited Aug 12, 2023 12:30am Aug 11, 2023 12:32pm | Edited Aug 12, 2023 12:30am
Quoting Mitiblotch
{quote} That's the usual behaviour of August. All the big bank guys go on holidays to spend their money so market dies off and a tight range ensues.
so there is a chance to repeat flat jumps next week(s), i hope to see Pivot signals (.1040+ still active)
anyway i`m waiting for .1287 (.1330) before next global EU drop
  • #177,966
  • Aug 11, 2023 12:49pm Aug 11, 2023 12:49pm
Quoting Happymorning
{quote} so there is a chance to repeat flat jumps next week(s), i hope to see Pivot signals (.1040+ still active) anyway i`m wating .1287 (.1330) before next global EU drop
"
before next global EU drop"

How bad it will be this drop according to you?
  • #177,967
  • Aug 11, 2023 12:50pm Aug 11, 2023 12:50pm
Quoting MichaelSch
{image} Yes. Keep it secret that trendline works. Better use a combination of ema, wait for wide spread and trade the whole day long if price not touch moving average that fast. But never think about trading higher timeframe trendlines, never on top think about finetune entry on lower timeframe. But all in all keep it secret.
but Michael trend lines have never been a secret people have been using them to great effect
For a long time a Trader who uses them all the time and does very well
Is in the Box he has a thread here on Forex Factory check it out some pretty impressive stuff.
but like anything you have to know how to use them correctly and have to draw them correctly
The devil's in the details.
without patience how can you be a trader?
  • #177,968
  • Aug 11, 2023 1:11pm Aug 11, 2023 1:11pm
Quoting bobrubin
{quote} " before next global EU drop" How bad it will be this drop according to you?
.09540-.84200 (previous one took almost two years)
  • #177,969
  • Aug 11, 2023 5:41pm Aug 11, 2023 5:41pm
I have slept in and got up after market close! Have to hold on to my shorts over the weekend!

so for the entire week we remain stuck within a range between weekly R1 and S1 and close just right near support level 0950 (slightly under)

bear remain in favour, however I would prefer if we can push down for another 10-20 pips and close near 0930.

My target for my sell next week is near 0880, depends on how the market opens i might close some first.

green pips all!

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Patience, Emotion Control and Discipline.
  • #177,970
  • Aug 11, 2023 9:55pm Aug 11, 2023 9:55pm
My short chart analysis, I did a lot of research outside of the charts to make sure I'm not babbling. Hope this helps to add to some sort of consensus for the traders in this group to form. I could very well be wrong too! And this is monthly time frame. I don't like micro structures.
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  • #177,971
  • Aug 11, 2023 11:49pm Aug 11, 2023 11:49pm
Quoting Steverino832
{quote} but Michael trend lines have never been a secret people have been using them to great effect For a long time a Trader who uses them all the time and does very well Is in the Box he has a thread here on Forex Factory check it out some pretty impressive stuff. but like anything you have to know how to use them correctly and have to draw them correctly The devil's in the details.
Was more ironic. But if you look in the system corner you get a feel what I point here.
Perfection is the enemy of good enough!
  • #177,972
  • Aug 12, 2023 12:06am Aug 12, 2023 12:06am
EU dropped below 1.0962 but the market closed so we'll learn more about the drop that's now heading to 1.0913/29 after the start of the new week.

The bulls have their last chance to save EU at the lows above 1.0880 and up or else it can drop more first 1.0854/33 and even below 1.0800. If it stabilizes somewhere above 1.0880 then the bulls will have the chance to bring it up and test 1.1010/1.1065 zone.

Weekly Volatility (range) - 97 pips

Significant News - US Retail Sales MoM, US Housing Starts Number, US Industrial Production MoM, US Philly Fed Business Index & US Initial Jobless Claims.

4 hours
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Have a great rest of the weekend.
Looking for profitable short term trades ...|
  • #177,973
  • Aug 12, 2023 12:25am Aug 12, 2023 12:25am
Quoting MichaelSch
{quote} Was more ironic. But if you look in the system corner you get a feel what I point here.
yes, now I see your point.
without patience how can you be a trader?
  • #177,974
  • Aug 12, 2023 12:44am Aug 12, 2023 12:44am
EUR/USD: a bearish Price Action pattern formed on the Daily timeframe, which closed below the major 1.10 resistance and below the trend line.
This indicates a possible downtrend after the price breaks through the local 1.094 support.
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  • #177,975
  • Aug 12, 2023 12:54am Aug 12, 2023 12:54am
Quoting trade.pro
EUR/USD: a bearish Price Action pattern formed on the Daily timeframe, which closed below the major 1.10 resistance and below the trend line. This indicates a possible downtrend after the price breaks through the local 1.094 support. {image}
EU will become bearish below .0835 (previous wave correction level). Now we just see strong push from W1 fibo 61.8 (.1273) and flat. Enjoy 2 waves up/2 waves down formations.
  • #177,976
  • Aug 12, 2023 12:58am Aug 12, 2023 12:58am
.0896 will be WPivot fib S2 next week. I`ll observe 2nd flat wave during asia from .0971 (fib 23.6). I do not think it`ll be long. Hope to drop last bears there (see BB external lines reaction).
Moreover .0970 showed UP on friday.
I do not want to make mistake with closing all shorts and starting round 2 stacking longs.
  • #177,977
  • Aug 12, 2023 3:02am Aug 12, 2023 3:02am
Lmao. I was waiting for it to pump up like 1 or 2 more pips to short it. Trading will always humble you and keep you on your toes...
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  • #177,978
  • Aug 12, 2023 8:01am Aug 12, 2023 8:01am
Quoting Happymorning
{quote} .09540-.84200 (previous one took almost two years)
Maybe I am wrong but I think it tool longer than 2 years to touch parity. Do you mean it will take maybe 2 years to go back to parity again? Sorry for the questions
  • #177,979
  • Aug 12, 2023 10:04am Aug 12, 2023 10:04am
Quoting bobrubin
{quote} Maybe I am wrong but I think it tool longer than 2 years to touch parity. Do you mean it will take maybe 2 years to go back to parity again? Sorry for the questions
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previous EU drop
p.s. Questions are a way to become wiser.
  • #177,980
  • Aug 13, 2023 7:19am Aug 13, 2023 7:19am
Hello
A divergence can be seen between the euro chart and the dollar index chart, and it will cause the dollar to fall, and of course, the euro chart will rise to collect the fall and liquidity on July 27. Of course, this is my opinion.
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