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EURUSD only

  • #181,781
  • Oct 16, 2023 10:45pm Oct 16, 2023 10:45pm
EU continued its upside correction, but failed to keep above 1.0559 resistance at Asia, now a higher bounce needed for it to reach the next levels at 1.0580 and the weekly trendline (see chart). Support comes at 1.0525 and a break should target the 1.0495/82 level.

Daily volatility (range) - 52 pips

Significant news - US Retail Sales MoM & Industrial Production

1 hour
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Green pips!
Looking for profitable short term trades ...|
  • #181,782
  • Oct 16, 2023 10:56pm Oct 16, 2023 10:56pm
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"No pain no gain"
  • #181,783
  • Oct 16, 2023 11:41pm Oct 16, 2023 11:41pm
Quoting Endoephemera
Big time short accumulation has gone on throughout this up. You know what this means, right? It means we are going to spike it 50 PiPs up to run the stops and only after that we drop.
Exactly.. people are still trying to short lol
  • #181,784
  • Oct 16, 2023 11:44pm Oct 16, 2023 11:44pm
Quoting Endoephemera
Big time short accumulation has gone on throughout this up. You know what this means, right? It means we are going to spike it 50 PiPs up to run the stops and only after that we drop. The sell limit orders go at 1.06
lol
  • #181,785
  • Oct 17, 2023 1:23am Oct 17, 2023 1:23am
Good morning, hope you're great. For today, I think 1.0532 can be a good support, and I hope the bears can make it there lol. 1H and 5M charts;
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  • #181,786
  • Oct 17, 2023 1:29am Oct 17, 2023 1:29am
Quoting JBRolim
{image}
Just when I was going to post something on it.
Inverted H&S H1 and potential H4 to determine direction, shoulders bottom and neckline the only things that matter.
HTF I still hold the same view.
Good luck.
We watch the charts from every angle so you don't have to!!
  • #181,787
  • Oct 17, 2023 2:08am Oct 17, 2023 2:08am
The bulls might be trying now;
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  • #181,788
  • Oct 17, 2023 2:11am Oct 17, 2023 2:11am
I'm not sure of this trade. But I just went short at 1.0548. TP 1.0446. SL 1.0610.
  • #181,789
  • Oct 17, 2023 2:31am Oct 17, 2023 2:31am
Quoting Mitiblotch
I'm not sure of this trade. But I just went short at 1.0548. TP 1.0446. SL 1.0610.
That was a good move, it might move some more on this spike, but first we may see a retrace down before up again. For me 0525 should be tested before 0580.
Looking for profitable short term trades ...|
  • #181,790
  • Oct 17, 2023 2:39am Oct 17, 2023 2:39am
Quoting Js3mwtRc
{quote} That was a good move, it might move some more on this spike, but first we may see a retrace down before up again. For me 0525 should be tested before 0580.
R:R is very good for longs because if 1.0530 breaks there won't be any bulls at least until 1.0450.
We watch the charts from every angle so you don't have to!!
  • #181,791
  • Oct 17, 2023 2:57am Oct 17, 2023 2:57am
Quoting pedro319
{quote} R:R is very good for longs because if 1.0530 breaks there won't be any bulls at least until 1.0450.
In for the the longer term. US news later may surprise us to the upside and 10 yield curve looks steep again, 1.0450 may not be the lower we can get this week.
Looking for profitable short term trades ...|
  • #181,792
  • Oct 17, 2023 3:03am Oct 17, 2023 3:03am
The bulls did fine;
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  • #181,793
  • Oct 17, 2023 3:15am Oct 17, 2023 3:15am
Quoting pedro319
{quote} R:R is very good for longs because if 1.0530 breaks there won't be any bulls at least until 1.0450.
with you on this above 0530 bull may go a bit higher
Patience, Emotion Control and Discipline.
  • #181,794
  • Oct 17, 2023 3:27am Oct 17, 2023 3:27am
Meanwhile, on H1...

Let's see if the potential right shoulder of inverted H&S will act supportive...
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Focus only on what truly matters!
  • #181,795
  • Oct 17, 2023 3:44am Oct 17, 2023 3:44am
Quoting MateuszFx123
{image}
H&S in larger H&S still valid, maybe German ZEW Economic Sentiment will be catalyst for the move, but first gap on USDX must be closed

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  • #181,796
  • Oct 17, 2023 4:05am Oct 17, 2023 4:05am
Quoting MateuszFx123
{quote} H&S in larger H&S still valid, maybe German ZEW Economic Sentiment will be catalyst for the move, but first gap on USDX must be closed {image} {image} {image}
ZEW came well above forecasts, bulls can see 0615/35, but geopolitics may have the upper hand this week.
Looking for profitable short term trades ...|
  • #181,797
  • Oct 17, 2023 4:36am Oct 17, 2023 4:36am
Bounce on 50, can we see 1.06 today

SL 1.0523
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Stay low, Go fast - No luck, All skill
  • #181,798
  • Oct 17, 2023 6:45am Oct 17, 2023 6:45am
"If it smells funny, don't eat it!"
Something feels wrong... DXY dropping while EUR rising looks all good BUT US 10y rising during the same time?!? Cant wrap my head around that.
Don't follow my trades. Challenge my Analysis!
  • #181,799
  • Oct 17, 2023 6:56am Oct 17, 2023 6:56am
Quoting Mitiblotch
I'm not sure of this trade. But I just went short at 1.0548. TP 1.0446. SL 1.0610.
Added at 1.0577. That's just a few pips shy of 61.8% fib retracement of the current drop. Wish me luck. I refuse to believe a third try towards monthly pivot.
  • #181,800
  • Oct 17, 2023 7:07am Oct 17, 2023 7:07am
Quoting Mitiblotch
{quote} Added at 1.0577. That's just a few pips shy of 61.8% fib retracement of the current drop. Wish me luck. I refuse to believe a third try towards monthly pivot.
All it means is that monthly pivot will break especially as price almost touched it the last time. What you should be looking at is monthly first resistance at 1.080xx
Risk comes from not knowing what to do
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