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  • #182,541
  • Oct 27, 2023 2:32am Oct 27, 2023 2:32am
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  • #182,542
  • Oct 27, 2023 2:53am Oct 27, 2023 2:53am
Quoting pedro319
H4 bullish engulfing suggests ABCD retracement, the wash and rinse of the previous lows adds credence to this view. 1.06 or thereabouts.
Traders should watch this bullish engulfing signal it may create a reversal, it is not just a retracement, it's an opportunity to buy. Although I am watching for the us news that will be critical for this pattern, I'll wait for an explosion!
Looking for profitable short term trades ...|
  • #182,543
  • Oct 27, 2023 2:58am Oct 27, 2023 2:58am
Quoting pedro319
H4 bullish engulfing suggests ABCD retracement, the wash and rinse of the previous lows adds credence to this view. 1.06 or thereabouts.
Yes, I believe that we stay at the current price level waiting for news about Core PCE Price Index
Don't you think that yesterday's Advance GDP Price Index rise could be a clue for the mentioned data?
Also previous Revised UoM Consumer Sentiment was above forecast, people are ordering more goods, so this data could also be positive for USD.
Do you think that this predictions could drag EUR to 1.05 and lower?

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  • #182,544
  • Oct 27, 2023 3:16am Oct 27, 2023 3:16am
Quoting Js3mwtRc
Bears testing, strong, but need more for yesterday's low! {image}
Bulls should act quick to 0580 before any momentum fades more, a break below 0548 will make the price drop to 0500/20 if, not.
Looking for profitable short term trades ...|
  • #182,545
  • Oct 27, 2023 3:19am Oct 27, 2023 3:19am
Quoting Js3mwtRc
{quote} Bulls should act quick to 0580 before any momentum fades more, a break below 0548 will make the price drop to 0500/20 if, not.
yup now or never!
Patience, Emotion Control and Discipline.
  • #182,546
  • Oct 27, 2023 3:47am Oct 27, 2023 3:47am
Quoting johncen
{quote} yup now or never!
He seems sleepy, come on wake up bull!
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Looking for profitable short term trades ...|
  • #182,547
  • Oct 27, 2023 3:59am Oct 27, 2023 3:59am
Quoting Js3mwtRc
{quote} Traders should watch this bullish engulfing signal it may create a reversal, it is not just a retracement, it's an opportunity to buy. Although I am watching for the us news that will be critical for this pattern, I'll wait for an explosion!
We have bearish engulfing D1 and bullish engulfing H4.
So, on the H1 chart, we should have ABCD up to 1.06 let's say, next move would be a second leg of the ABCD H4 down to 1.04 based on D1.
1.0539 is 61.8 support of the whole swing so a bounce is justified, at the same time we have break of upward channel on D1.
In my mind everything fits and atm is mostly bearish.
Thank you and good luck to you.
We watch the charts from every angle so you don't have to!!
  • #182,548
  • Oct 27, 2023 4:06am Oct 27, 2023 4:06am
The bears didn't let the price reach 1.0705 above, because they know that if they let the BullGang troops get there they will lose their pants from running so much...lol
"No pain no gain"
  • #182,549
  • Oct 27, 2023 4:09am Oct 27, 2023 4:09am
Quoting pedro319
{quote} We have bearish engulfing D1 and bullish engulfing H4. So, on the H1 chart, we should have ABCD up to 1.06 let's say, next move would be a second leg of the ABCD H4 down to 1.04 based on D1. 1.0539 is 61.8 support of the whole swing so a bounce is justified, at the same time we have break of upward channel on D1. In my mind everything fits and atm is mostly bearish. Thank you and good luck to you.
Thanks, you are welcome! I agree the bigger image is bearish yet, November will be an interesting month from next week.
Looking for profitable short term trades ...|
  • #182,550
  • Edited 4:34am Oct 27, 2023 4:13am | Edited 4:34am
Quoting Js3mwtRc
{quote} Thanks, you are welcome! I agree the bigger image is bearish yet, November will be an interesting month from next week.
Fx is a fast changing game and that is why one must reassess quite often to stay profitable.


Quoting MateuszFx123
{quote} Yes, I believe that we stay at the current price level waiting for news about Core PCE Price Index Don't you think that yesterday's Advance GDP Price Index rise could be a clue for the mentioned data? Also previous Revised UoM Consumer Sentiment was above forecast, people are ordering more goods, so this data could also be positive for USD. Do you think that this predictions could drag EUR to 1.05 and lower? {image} {image} {image}
The problem with these data releases is that they generate movement caused by things that are not always clear:
1- Impact of the data in investors decisions
2- Perception of investors
3- Anticipation of monetary policy
4- Algos

Long story short, I am looking for a move to 1.06 and maybe a bit more short term.
I like how you are keeping close eye on the 10 yr and DXY.
I hope it helps.
We watch the charts from every angle so you don't have to!!
  • #182,551
  • Oct 27, 2023 4:35am Oct 27, 2023 4:35am
Quoting pedro319
{quote} Fx is a fast changing game and that is why one must reassess quite often to stay profitable. {quote} The problem with these data releases is that they generate movement caused by things that are not always clear: 1- Impact of the data in investors decisions 2- Perception of investors 3- Anticipation of monetary policy 4- Algos Long story short, I am looking for a move to 1.06 and maybe a bit more short term. I like how you are keeping close eye on the 10 yr and DXY. I hope it helps.
Thanks Pedro, I am with you and with a general bearish bias. If the price will get to 1.06 it would be also a good spot to short in case of a potential transition of downtrend into range (we will be at the upper band of range if I see it correctly)
  • #182,552
  • Edited 5:00am Oct 27, 2023 4:49am | Edited 5:00am
We had around 800 pips down move only around 250 correction yet and that also reduced by half.
Do not get how this can be seen as bull market.

Trader 1: "I was about direction wrong and about my SL."
Trader 2 " I was about direction right, but my SL every time to tight."
Trader 3 " I was about direction right, aware about the markets heartbeat and place my SL for respecting it, spend my system a suitable money management"
Trader 3 "I can earn 1000 Dollar with 50 Pip move also as you guys with 5 pip move. I only wait longer for a loss or profit, BUT i surf with the big ones."
Perfection is the enemy of good enough!
  • #182,553
  • Oct 27, 2023 4:51am Oct 27, 2023 4:51am
Quoting MateuszFx123
{quote} Thanks Pedro, I am with you and with a general bearish bias. If the price will get to 1.06 it would be also a good spot to short in case of a potential transition of downtrend into range (we will be at the upper band of range if I see it correctly)
You said it: Potential transition and upper band, if we lose we only lose little!
I will probably sell next week.
We watch the charts from every angle so you don't have to!!
  • #182,554
  • Oct 27, 2023 4:55am Oct 27, 2023 4:55am
I kept looking at the EURUSD, I missed a short entry at 6 AM, otherwise EURUSD looks funny, i decided not to place a trade and just keep observing its movement, it looks like a child painting and scratching a wall
  • #182,555
  • Oct 27, 2023 4:56am Oct 27, 2023 4:56am
I think more likely than not we will go up above 1.06 tonight, the reasoning being positive 4h and even 1d activity, strong support in spite of positive USD data, and general weakening of bear activity. I do think sell-side seems to be becoming exhausted, is what I would say about last night's trading.

If the bulls are serious, they should push as far above 1.06 as possible to have a strong weekly finish to maintain momentum into next week.
  • #182,556
  • Oct 27, 2023 5:16am Oct 27, 2023 5:16am
Quoting JBRolim
It seems that today it reached the bearish limit... In synchronization, the price closed the H4 candle at the top of the blue line channel and at the main support of the green line, I added more small purchase limits in the region, I am confident of the rise at least until the end of this year... {image}
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"No pain no gain"
  • #182,557
  • Oct 27, 2023 5:18am Oct 27, 2023 5:18am
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Don’t focus on making $$$, focus on protecting what you have.
  • #182,558
  • Oct 27, 2023 6:05am Oct 27, 2023 6:05am
Quoting JBRolim
The market opened in confusion between bear and bull watching m1...lol
For now the price is working in a sideways channel, the bears showed more strength in the Gap sizes, the bears are playing hard.... they just broke the daily bottom...
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"No pain no gain"
  • #182,559
  • Oct 27, 2023 6:24am Oct 27, 2023 6:24am
Quoting Js3mwtRc
{quote} Bulls should act quick to 0580 before any momentum fades more, a break below 0548 will make the price drop to 0500/20 if, not.
It did what was expected, but now the bulls hope the us news to come out negative for the us dollar, so there are still chances for higher prices.
Looking for profitable short term trades ...|
  • #182,560
  • Oct 27, 2023 6:27am Oct 27, 2023 6:27am
this is what i am trading...tp open
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