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EURUSD only

  • #179,141
  • Aug 28, 2023 10:08pm Aug 28, 2023 10:08pm
A possible Cup n Handle formation?

Maybe...or maybe I am formfitting cause I want EU to go up.
Attached Image (click to enlarge)
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  • #179,142
  • Aug 28, 2023 10:59pm Aug 28, 2023 10:59pm
EU rose near critical resistance 1.0841 waiting for news that will send it higher but a failure to do so will make it test yesterday's low inside the range at 1.0798.

Daily volatility (range) - 47 pips

Significant news - US JOLTS Job Openings

1 hour
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 66 KB


Green pips!
Looking for profitable short term trades ...|
  • #179,143
  • Aug 28, 2023 11:01pm Aug 28, 2023 11:01pm
Next target 1.08700.
For the jinns time is not like a river but like an ocean!
  • #179,144
  • Aug 28, 2023 11:18pm Aug 28, 2023 11:18pm
Quoting fxcontest
Yesterday only got tiny pips Hope Today better Sell Now 0835 till 0829
1st TP 0819 Max TP 0795
Holy Betting Grail strategy
  • #179,145
  • Aug 28, 2023 11:26pm Aug 28, 2023 11:26pm
My today's axis hasn't formed yet. It is likely that the price has started the uptrend again (perceived). If this H1 closes above 1.08275 I will look for more lows to enter long. If the price closes past 1.08275 and doesn't fall further I won't do anything...
Keep the faith and keep going
  • #179,146
  • Aug 29, 2023 12:02am Aug 29, 2023 12:02am
Quoting littlefx1
{quote} The sudden spikes and sudden volatility was something I didn't understand, until I studied liquidity. This helped me understand the markets more that now I actually use those spikes as part of my strategy. If your a beginner, trading 10 different currencies wouldn't be recommended, try to focus on 2 or 3 and really study them. I also traded many currencies but I reduced my amount of data and focused more on quality. (If your are trading 4hr or daily,10 currencies is understandable, but if ur trading 5m,15m I would reccommend you look at...
Thank you for your suggestion, mate. I appreciate it. I begin with two pairs and gradually increase the number of pairs I trade. Once the first two pairs are in profit and I've secured some gains, I open two additional positions. After locking in profits on those, I proceed to open more positions until I reach a maximum of 10-12 pairs. My primary trading timeframe is the 4-hour (4H) timeframe. Hmmm, that sounds interesting. I actually contemplated this issue yesterday and concluded that the solution lies in adjusting my stop loss very carefully. Trading a high number of pairs simultaneously isn't necessarily bad; I usually end up with a good number of wins and gains, unless something unexpected occurs. The important lesson I've learned is the importance of setting a trailing stop loss. Fortunately, those pairs recovered from the volatile period yesterday, and I achieved an 18% gain, which is higher than the gain prior to the onset of volatility.
  • #179,147
  • Aug 29, 2023 12:04am Aug 29, 2023 12:04am
Quoting Niily
My today's axis hasn't formed yet. It is likely that the price has started the uptrend again (perceived). If this H1 closes above 1.08275 I will look for more lows to enter long. If the price closes past 1.08275 and doesn't fall further I won't do anything...
Only two things can happen now, rise to 0838 or drop to 0809.
Looking for profitable short term trades ...|
  • #179,148
  • Aug 29, 2023 12:07am Aug 29, 2023 12:07am
Quoting Niily
My today's axis hasn't formed yet. It is likely that the price has started the uptrend again (perceived). If this H1 closes above 1.08275 I will look for more lows to enter long. If the price closes past 1.08275 and doesn't fall further I won't do anything...
Like a hand intentionally pulled it below 1.08275.
Keep the faith and keep going
  • #179,149
  • Aug 29, 2023 12:10am Aug 29, 2023 12:10am
I took a long position on EURUSD, anticipating a retracement from the bottom of the daily ascending channel, and my prediction turned out to be correct. The support zone at approximately 1.084, which was previously strong, has now transformed into a robust resistance level. It is highly probable that the price will continue to move downwards from this point. However, I have chosen not to go short due to upcoming news events that are expected to create a period of high volatility. The channel's support zone remains valid, and I will monitor the market closely for further developments.
It's worth noting that the price was unable to break the red trendline, which could be manifested as an indicating potential upward rally in the future.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Screenshot_2023-08-29_09-34-48.png Size: 27 KB
  • #179,150
  • Aug 29, 2023 12:12am Aug 29, 2023 12:12am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2023-08-29_09-41-43.png Size: 19 KB
  • #179,151
  • Aug 29, 2023 12:20am Aug 29, 2023 12:20am
Now if any H1 closes below 1.08180 I would consider this a sign of a return of the bears. If my pivot formed during that time, there would be other decisions. Let's see where EURUSD goes today.
Keep the faith and keep going
  • #179,152
  • Aug 29, 2023 12:22am Aug 29, 2023 12:22am
Quoting Niily
{quote} Like a hand intentionally pulled it below 1.08275.
I got to admit the bear doesn't like me either!
Looking for profitable short term trades ...|
  • #179,153
  • Aug 29, 2023 1:02am Aug 29, 2023 1:02am
I'm short 823.
It's a little late but waited for confirmatin. Let's see if the bulls glory is over. If fails may look at some bullish trades.
As the lights go by so too do the shadows move
  • #179,154
  • Aug 29, 2023 1:18am Aug 29, 2023 1:18am
I expect 1.0735 latest by tomorrow.
  • #179,155
  • Aug 29, 2023 1:20am Aug 29, 2023 1:20am
Quoting Js3mwtRc
{quote} Only two things can happen now, rise to 0838 or drop to 0809.
Minute by minute the second looks more possible the question here is if it surpases it and fail more.

Quoting Js3mwtRc
{quote} Minute by minute the second looks more possible the question here is if it surpases it and fail more.
In case it fails more some volatility at 0798 low can make it rise up to 0838 again but the same factor (volatility) can break it lower so it's good to use stops instead of leaving open positions.
Looking for profitable short term trades ...|
  • #179,156
  • Aug 29, 2023 1:32am Aug 29, 2023 1:32am
Small Buy Limit : 0791 - 0793

V Shape Bull ?
Holy Betting Grail strategy
  • #179,157
  • Aug 29, 2023 1:42am Aug 29, 2023 1:42am
Quoting Niily
Now if any H1 closes below 1.08180 I would consider this a sign of a return of the bears. If my pivot formed during that time, there would be other decisions. Let's see where EURUSD goes today.

Formed the axis of my day. Above 1.08232 for bulls and below 1.08150 for bears. I will wait break out and test it again.
Keep the faith and keep going
  • #179,158
  • Aug 29, 2023 1:46am Aug 29, 2023 1:46am
Quoting Mitiblotch
I expect 1.0735 latest by tomorrow.
Same, I think we just made the high of the week
Risk comes from not knowing what to do
  • #179,159
  • Aug 29, 2023 1:48am Aug 29, 2023 1:48am
Quoting Mitiblotch
I expect 1.0735 latest by tomorrow.
So we wait for 1.0735 tomorrow?
  • #179,160
  • Aug 29, 2023 1:56am Aug 29, 2023 1:56am
For bulls, today is "survive the dips" day.. If bulls can keep price above 1.0775 all good... Let's see..
Focus only on what truly matters!
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