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  • #181,101
  • Sep 29, 2023 4:33am Sep 29, 2023 4:33am
The appearance of the conflict candle between bears and bulls
( churn candle ) , and what decides the decision to continue selling or exit it is the price breakdown or breakout churn candle .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 6E DEC23 (60 Minute) 2023_09_29 (12_26_40 PM).png Size: 20 KB
Click to Enlarge Name: 6E DEC23 (60 Minute) 2023_09_29 (12_26_57 PM).png Size: 16 KB
Volume is the soul of the market
  • #181,102
  • Sep 29, 2023 5:01am Sep 29, 2023 5:01am
I know it shouldn't but it still surprises me from time to time how price acts on its own, when it is on a mission. Regardless of news.
As today - EU is flying with almost every news today in red
  • #181,103
  • Sep 29, 2023 5:01am Sep 29, 2023 5:01am
Looking at 1.0637-45 for scalp short, beginning of correction down smaller timeframe to form second leg up probably to 1.07.
The other level is 1.0621, this one not as good.
When price starts move down it will be easier to figure where I can buy (scalping only)

Quoting Lenart
I know it shouldn't but it still surprises me from time to time how price acts on its own, when it is on a mission. Regardless of news. As today - EU is flying with almost every news today in red
I mentioned couple of days ago, it is a technical correction, no changes in fundamental background required.
150-200 pips.
One of the missions is to touch 1.0661.
We watch the charts from every angle so you don't have to!!
  • #181,104
  • Sep 29, 2023 5:11am Sep 29, 2023 5:11am
Quoting Lenart
I know it shouldn't but it still surprises me from time to time how price acts on its own, when it is on a mission. Regardless of news. As today - EU is flying with almost every news today in red
News are omnipresent.... the market keeps evaluating data, future implications etc... EU CPI falling is news that by any standard is RED news (as in important) but not necessarily anymore bad news for EU as EU has entered the higher for longer already, thus in the short-term outlook now its all about Economic Power (GDP growth) before we can actively watch the rate cut expecations mid-next year.

Just my two cents on the FUNDAMENTALS.... but never ignore TECHNICALS!

On a side note, i recommend watching the US Treasury yields closely as well (driving demand for USD when yields are - relativley - growing). Yesterday they retreated.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 37 KB
Don't follow my trades. Challenge my Analysis!
  • #181,105
  • Sep 29, 2023 5:13am Sep 29, 2023 5:13am
Quoting Brainafk
{quote} News are omnipresent.... the market keeps evaluating data, future implications etc... EU CPI falling is news that by any standard is RED news (as in important) but not necessarily anymore bad news for EU as EU has entered the higher for longer already, thus in the short-term outlook now its all about Economic Power (GDP growth) before we can actively watch the rate cut expecations mid-next year. Just my two cents on the FUNDAMENTALS.... but never ignore TECHNICALS! On a side note, i recommend watching the US Treasury yields closely as...
They will resume uptrend towards 5% maybe even 6% and the euro will sink again.
The demand in USD is the banks covering for margin.
We watch the charts from every angle so you don't have to!!
  • #181,106
  • Sep 29, 2023 5:41am Sep 29, 2023 5:41am
1.0615 (last week low) and 1.0635 (may low) should keep it down today, it's the end of the third quarter, another three months left for the end of the year which may bring EU to 1.1000 or to parity if things not go well as planned from many institutions that are long. Today's US PCE numbers should show us the road but choppy price action may stay until the start of the month gets in for good next week/s.
Looking for profitable short term trades ...|
  • #181,107
  • Edited 7:12am Sep 29, 2023 7:00am | Edited 7:12am
Quoting Forexman1979
The appearance of the conflict candle between bears and bulls ( churn candle ) , and what decides the decision to continue selling or exit it is the price breakdown or breakout churn candle . {image} {image}
Price move as plan exactly .... the hour candle close below churn candle with poc under it so the selling is stilling for touch the yesterday bottom dont forget SL Breakout 1.0625
Attached Image (click to enlarge)
Click to Enlarge Name: 6E DEC23 (60 Minute) 2023_09_29 (2_54_42 PM).png Size: 17 KB
Volume is the soul of the market
  • #181,108
  • Sep 29, 2023 8:16am Sep 29, 2023 8:16am
Looking at 1.0641...
"No pain no gain"
  • #181,109
  • Sep 29, 2023 8:27am Sep 29, 2023 8:27am
Quoting Forexman1979
{quote} Price move as plan exactly .... the hour candle close below churn candle with poc under it so the selling is stilling for touch the yesterday bottom dont forget SL Breakout 1.0625 {image}
Attached Image (click to enlarge)
Click to Enlarge Name: 6E DEC23 (60 Minute) 2023_09_29 (4_00_51 PM).png Size: 19 KB
Volume is the soul of the market
  • #181,110
  • Sep 29, 2023 8:48am Sep 29, 2023 8:48am
I am marking 1.0569 area as nearest support on H1... Go bulls go!
Focus only on what truly matters!
  • #181,111
  • Sep 29, 2023 9:12am Sep 29, 2023 9:12am
This number is crazy...

Attached Image (click to enlarge)
Click to Enlarge Name: eurusdjbrolimh1.png Size: 12 KB
"No pain no gain"
  • #181,112
  • Sep 29, 2023 9:14am Sep 29, 2023 9:14am
Quoting Js3mwtRc
A break of 1.0593 will signal a drop to 1.0545 1st and to 1.0516 2nd 1 hour {image}
The area holded the price and EU is moving into the 1st target now
Looking for profitable short term trades ...|
  • #181,113
  • Sep 29, 2023 9:18am Sep 29, 2023 9:18am
Quoting pedro319
Looking at 1.0637-45 for scalp short, beginning of correction down smaller timeframe to form second leg up probably to 1.07. The other level is 1.0621, this one not as good. When price starts move down it will be easier to figure where I can buy (scalping only) {quote} I mentioned couple of days ago, it is a technical correction, no changes in fundamental background required. 150-200 pips. One of the missions is to touch 1.0661.
They could do it from here or 1.0540.
We watch the charts from every angle so you don't have to!!
  • #181,114
  • Sep 29, 2023 9:31am Sep 29, 2023 9:31am
In this business I just have to believe that any thing can happen any where any time someone said its only buy today I just laugh at the person
  • #181,115
  • Sep 29, 2023 9:52am Sep 29, 2023 9:52am
Quoting Enagy
In this business I just have to believe that any thing can happen any where any time someone said its only buy today I just laugh at the person
I don't understand what you are saying here; bulls make money, bears make money, and well birds get shot at
  • #181,116
  • Sep 29, 2023 9:54am Sep 29, 2023 9:54am
Long, another Green pips ?

Waiting for TP Hit, for Achievement Celebration
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDmM15 2909a.png Size: 8 KB
Holy Betting Grail strategy
  • #181,117
  • Sep 29, 2023 9:56am Sep 29, 2023 9:56am
I believe what you said
  • #181,118
  • Edited 10:37am Sep 29, 2023 10:13am | Edited 10:37am
Better yet, let's do some homework together with all the new traders that want to learn something new if they don't already know it.
There is a concept or theory that is called the "Missed pivot points" go ahead and google it and watch Rob Booker's explanation as to why its important to just keep an eye on little things like this specially at the end of the month...
After you learn why, go ahead and plot a weekly pivot point indicator on your 4 hr charts and observe how many times the weekly pivot point was missed this month, the last etc, once you do this you should have an aha moment! and keep this areas as important and possible targets for when prices trade towards them.
  • #181,119
  • Sep 29, 2023 10:19am Sep 29, 2023 10:19am
Come on 1.06sss
  • #181,120
  • Sep 29, 2023 11:14am Sep 29, 2023 11:14am
Quoting MarcoJnr
Come on 1.06sss
Not happening today! sorry.

Or to be precise, doesn't look like its going to happen anymore for the rest of the day today. lol
Live long and prosper with green pips!
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