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Quoting pedro319
{quote} Pullback for second leg up of this retracement. Beware of profit taking today.
We are not going to 1.06 today but next week, so best thing is to wait for this retracement to finish and open position on Monday or Tuesday.
Fibonacci will make you rich
Quoting pedro319
{quote} We are not going to 1.06 today but next week, so best thing is to wait for this retracement to finish and open position on Monday or Tuesday.
It finished, the bulls may be strong at 0635 but eventually 0600 will be reached. Waiting for next week too!
Looking for profitable short term trades ...|
Quoting Js3mwtRc
{quote} It finished, the bulls may be strong at 0635 but eventually 0600 will be reached. Waiting for next week too!
Hopefully we will get another pattern pointing there exactly.
I don't think retracement is finished but I could be wrong, after Bfly market usually retraces 61.8.
Fibonacci will make you rich
Quoting pedro319
{quote} We are not going to 1.06 today but next week, so best thing is to wait for this retracement to finish and open position on Monday or Tuesday.
Interestingly, as they have bought today and will pay weekend swaps today for holding over the weekend (if they keep up the buys) then Monday will also be a buy. Once Asia buys on Monday it will be a one-way trip again to 1.0700 and slightly above before the short kicks in.

As for the low at 1.0631 If I am correct, London hasn't touched it so price will go for it. Problem is now most sellers are waiting for it so it may not come as soon as desired. In my opinion, 1.0685 is only the first hurdle but price will break it to touch higher points like 1.0700-20 region. Today no shorts for me like I said last night since Asia and London bought. NY might take us to 1.0700 tonight if they please.

Yearly pivot is 1.0576. We should go there at some point.
https://www.myfxbook.com/members/mitiblotch/mt5-10567385/9464692
Quoting Mitiblotch
{quote} Interestingly, as they have bought today and will pay weekend swaps today for holding over the weekend (if they keep up the buys) then Monday will also be a buy. Once Asia buys on Monday it will be a one-way trip again to 1.0700 and slightly above before the short kicks in. As for the low at 1.0631 If I am correct, London hasn't touched it so price will go for it. Problem is now most sellers are waiting for it so it may not come as soon as desired. In my opinion, 1.0685 is only the first hurdle but price will break it to touch higher points...
I like the way you explain the moves according to the sessions, never a strength in my trading.
I am looking at yearly pp as well and the bottom for a good while is 1.0450, 1.27 extension weekly.
Fibonacci will make you rich
Quoting pedro319
{quote} Gosto da maneira como você explica os movimentos de acordo com as sessões, o que nunca é um ponto forte na minha negociação. Estou olhando para pp anuais também e o mínimo por um bom tempo é 1,0450, extensão semanal de 1,27.
Not for me either. I have been making consistent profits on forex for just over 2 years. and my knowledge about sessions is still very low. Explanations like his help a lot. (I'm glad my trading system doesn't depend on sessions)
Quoting sammy454515
{quote} Not for me either. I have been making consistent profits on forex for just over 2 years. and my knowledge about sessions is still very low. Explanations like his help a lot. (I'm glad my trading system doesn't depend on sessions)
First time I read one of my posts in my own language!! Funny!!
I don't think I use them either or at least very often but there were occasions, where if I thought a move will continue through the Asian session, I would let it run and maximise the profits, rather than trying to jump back on it.
Fibonacci will make you rich
Quoting erap
{image} {image}
King of playmoney

Showing account history will not help the community...

Best
Chriss
Quoting Endoephemera
{quote} I doubt the big mofos pay swap or that it is any consideration. I'll keep my shorts on and pocket my swap and Monday the 100 PiPs.
Don't "think", read about it. What we think about swaps doesn't change what it means and whom it affects. In the past when USD-Euro interest rate differential was huge, swaps were a great deal. Did you ever wonder why Wednesdays were almost always a sell on EURUSD? Because heavy swaps were paid on buys X3. Other days the swaps were X1. Also ever wondered why Fridays were always a short? Because weekend swaps were paid and it was almost X3 like Wednesdays. Now a buy on Wednesday or Friday guaranteed higher prices because, in my understanding, the movers needed higher prices to offset the huge swaps they paid. This then meant that Thursday (after a buy Wednesday) or Monday (after a buy Friday) price would shoot up to offset those swaps. With time they varied the times when price had to shoot up so that people didn't get a straitforward trade.

Here: kindly check this link so you don't work with assumptions: https://www.elibrary.imf.org/display...5988/ch005.xml
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https://www.myfxbook.com/members/mitiblotch/mt5-10567385/9464692
Hi,
my outlook: still overall bullish.
I have open positions from 0700 and 0660 and did close a position from 0800 in loss (covered by hedge from USD/CHF). I will open new longs within the turquoise rectange.
Overall tp is between All-Time-Fibo ( 38.2 = 1200 and old highs = 1100).
Chart:
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Happy weekend @ all
Chriss
DX will goes down next week.
Quoting bigiivan
DX will goes down next week.
Yup
B4 Elvis there was nothing
done for the week! Happy weekend all!

i will be on holiday for the next two weeks so yea green pips to all and enjoy!
Patience, Emotion Control and Discipline.
Quoting Ata-Turkoglu
{quote} I never use direct levels.. I always assume a zone in my mind.. Since it is the H1 chart we are talking about, I always give +/- 10 pips playing room.. So 1.0670 is actually an "area": 1.0660/80... Your level 1.0685 is not that far away and can be merged into the level I shared... To me all the same... and I never bother for some deviation... so should you. I hope it answers... Best wishes
yes

but it touched 1.0685
iam strong with great muscles
are you?
Be yourself
EU dropped for another one week and stayed above 1.0635 (monthly support) but without a strong bounce. If that last level doesn't hold then we can see it extending even below its last lines of defence at 1.0610/1.0590 to 1.0516/1.0482. Resistance on the daily chart (below) is at 1.0768.

Weekly volatility (range) - 97 pips

Significant news - US Housing Starts Number, US Interest Rate Decision, US Initial Jobless Claims

Daily with 10, 50, 100 & 200 ma's and monthly support and resistance levels
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Have a great rest of the weekend
Looking for profitable short term trades ...|
Friday evening I was near closing my shorts and enter long.
I saw some momentum to the upside but I waited for the last H4 bar confirmation and it was negative so finally I didn't touch anything.

This morning I zoomed out to have a better and clearer view of what's going on and this is what I got.

a) Since the peak of July 18, we are in a very strong bear trend, well, this is now obvious.
b) There was a first ascending triangle broken to the downside, sign of trend continuation.
c) Followed by a strong counter-trend that was a test of the previous low around 1.0925, some support there turned into resistance.
d) The bear trend resumed until some consolidation this week forming a flag which was again broken to the downside.
e) With that flag break, this week we made a lower low on a weekly closing basis.

Usually the break of a continuation flag has the same length as the previous movement to that flag which bring us to 1.0545

Finally, one single H4 bar confirmed what I clearly see this morning. This bear trend hasn't said it all yet so I think that as long as the momentum continues to be so weak, I will wait a bit before turning bull.

I see 2 relevant levels for this week, 1.07, previous support that should now be resistance and which could be tested, and 1.0545 as potential target before some reversal.

My 2 cents.
Good luck to all.

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Simplicity is the Ultimate Sophistication.
Quoting Mitiblotch
{quote} Don't "think", read about it. What we think about swaps doesn't change what it means and whom it affects. In the past when USD-Euro interest rate differential was huge, swaps were a great deal. Did you ever wonder why Wednesdays were almost always a sell on EURUSD? Because heavy swaps were paid on buys X3. Other days the swaps were X1. Also ever wondered why Fridays were always a short? Because weekend swaps were paid and it was almost X3 like Wednesdays. Now a buy on Wednesday or Friday guaranteed higher prices because, in my understanding,...
A "currency swap" is not the same as the "swap" retails are charged. A "currency swap" is a contract whereby two institutions exchange currencies at given conditions. It can be used for speculation or for hedging a position on the spot market or it is done as a commercial transaction on behalf of clients. https://www.investopedia.com/ask/ans...swaps-work.asp
Also it is sure that the rate FX players are charged are far lower than the wildly huge rates charged to retails on their leveraged accounts.
Don't know if there's any statistical significance to rate differentials and price action on Thursday or Monday.
Temperance (restraint in action, thought or feeling) is a virtue.
Just a little drop and I go short.
Today all I care is a H4 candle close above 1.0680... Until that happens, bears have the upper hand... but I wait, because I believe in bulls!

Happy new trading day and week to all
Be a seer, not a looker!
Ata's Trend Hunter V2.0 All Time Return: 61.8%
Good evening, hope you're great. For tomorrow, I have 1.0691 as resistance, and 1.0642 as support;
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