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EURUSD only

  • #183,481
  • Nov 8, 2023 8:36pm Nov 8, 2023 8:36pm
Quoting LoneTrader1
Lets give this thing a try, {image}
Closed at break even.
  • #183,482
  • Nov 8, 2023 10:55pm Nov 8, 2023 10:55pm
EU staying in a small range at Asia looking to continue what it started yesterday, support is at 1.0660 and resistance at 1.0756. Still no signs of where it's going to head!

Daily volatility (range) - 45 pips

Significant news - FED Powell speaks, US Initial Jobless Claims.

Green pips!

15 min
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 60 KB
Looking for profitable short term trades ...|
  • #183,483
  • Nov 9, 2023 12:48am Nov 9, 2023 12:48am
So far 1.0666 has supported but too much bullish hesitation to push this higher. That makes me suspicious and therefore for now I am keeping my short-term bearish bias!

Happy trading day to all
Focus only on what truly matters!
  • #183,484
  • Nov 9, 2023 1:16am Nov 9, 2023 1:16am
Where can I short the Euro targeting 1.04?
I see this whole area up to 1.08 as the top for a while, so I am adding shorts, managing risk of course but because the resistance is W1 + D1, this might take a while and we can have a lot of ping pong (lovely sport) in the meantime.
We watch the charts from every angle so you don't have to!!
  • #183,485
  • Nov 9, 2023 1:42am Nov 9, 2023 1:42am
Quoting pedro319
Where can I short the Euro targeting 1.04? I see this whole area up to 1.08 as the top for a while, so I am adding shorts, managing risk of course but because the resistance is W1 + D1, this might take a while and we can have a lot of ping pong (lovely sport) in the meantime.
Not yet! We should be dropping from 1.0635 to 1.0600 today, but the price action yesterday didn't allowed it. Inflation in Europe dropped, but the Fridays NFP was not good that's why this consolidation below 1.0756. I believe it can drop, but it will take more time than I imagined yesterday.

Maybe some more upside at 1.0730 first and then a test of 1.0700 again!
Looking for profitable short term trades ...|
  • #183,486
  • Nov 9, 2023 1:45am Nov 9, 2023 1:45am
Quoting Ata-Turkoglu
So far 1.0666 has supported but too much bullish hesitation to push this higher. That makes me suspicious and therefore for now I am keeping my short-term bearish bias! Happy trading day to all
Your suspicion is reasonable there might be big hungry bears at 1.0765 area.
  • #183,487
  • Nov 9, 2023 1:53am Nov 9, 2023 1:53am
Quoting pedro319
Where can I short the Euro targeting 1.04? I see this whole area up to 1.08 as the top for a while, so I am adding shorts, managing risk of course but because the resistance is W1 + D1, this might take a while and we can have a lot of ping pong (lovely sport) in the meantime.
Bears could kick in any time but my friendly suggestion would be to watch until 1.0777 area max. (with +/- 50 pips flexibility of course!)

ONCE/IF the expected drop starts, I would focus on 1.0635 area as main support and freeze 1.04 levels for now because we had a fat ass bullish engulfing candle last week which is on standby, waiting to support bulls in upcoming weeks.

Long story short, it is always best practice to go step by step. That means I will look for buying opportunities if we drop back to 1.0635 area (with +/- 50 pips flexibility of course!)

Just my two cents
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-W1.png Size: 16 KB
Focus only on what truly matters!
  • #183,488
  • Nov 9, 2023 1:55am Nov 9, 2023 1:55am
Quoting Ata-Turkoglu
So far 1.0666 has supported but too much bullish hesitation to push this higher. That makes me suspicious and therefore for now I am keeping my short-term bearish bias! Happy trading day to all
Good point there ATA!
As for past days high volume buying and then stop around 1.07 is making me suspicious as well. Time is key!
If some news will not give the energy for a further upward movement soon (in next few days), we can get stuck for weeks between 1.05 - 1.1 with spikes UP and DOWN.
  • #183,489
  • Nov 9, 2023 1:56am Nov 9, 2023 1:56am
Quoting Js3mwtRc
{quote} Not yet! We should be dropping from 1.0635 to 1.0600 today, but the price action yesterday didn't allowed it. Inflation in Europe dropped, but the Fridays NFP was not good that's why this consolidation below 1.0756. I believe it can drop, but it will take more time than I imagined yesterday. Maybe some more upside at 1.0730 first and then a test of 1.0700 again!
It can drop from anywhere, 1.0750 was touched, from that point on it could keep coming back to retest and even attempt slightly higher 1,0780 and 1.08.
Also now that people believe that 1.0660 is a good support...
We watch the charts from every angle so you don't have to!!
  • #183,490
  • Nov 9, 2023 2:07am Nov 9, 2023 2:07am
Quoting pedro319
{quote} It can drop from anywhere, 1.0750 was touched, from that point on it could keep coming back to retest and even attempt slightly higher 1,0780 and 1.08. Also now that people believe that 1.0660 is a good support...
Basically I want to see it to 0680/90 first and if, 1.0660 holds as support then we can go higher, but have no problem with going first higher, it's just boring to wait the price on the support to buy later!
Looking for profitable short term trades ...|
  • #183,491
  • Nov 9, 2023 2:30am Nov 9, 2023 2:30am
Quoting Js3mwtRc
{quote} Basically I want to see it to 0680/90 first and if, 1.0660 holds as support then we can go higher, but have no problem with going first higher, it's just boring to wait the price on the support to buy later!
Like this?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 8 KB
We watch the charts from every angle so you don't have to!!
  • #183,492
  • Nov 9, 2023 2:43am Nov 9, 2023 2:43am
Quoting pedro319
{quote} Like this? {image}
Exactly! It should fall again now that it opened the way below 1.0700.
Looking for profitable short term trades ...|
  • #183,493
  • Nov 9, 2023 2:57am Nov 9, 2023 2:57am
Quoting Js3mwtRc
{quote} Exactly! It should fall again now that it opened the way below 1.0700.
That will be another great sell for me.
We watch the charts from every angle so you don't have to!!
  • #183,494
  • Nov 9, 2023 3:05am Nov 9, 2023 3:05am
to me, EURUSD has clearly bottomed, i am buying dips to 1.06 area with a 1.10 - 12 target

stop below 1.0575
  • #183,495
  • Nov 9, 2023 3:05am Nov 9, 2023 3:05am
Quoting Ata-Turkoglu
{quote} Bears could kick in any time but my friendly suggestion would be to watch until 1.0777 area max. (with +/- 50 pips flexibility of course!) ONCE/IF the expected drop starts, I would focus on 1.0635 area as main support and freeze 1.04 levels for now because we had a fat ass bullish engulfing candle last week which is on standby, waiting to support bulls in upcoming weeks. Long story short, it is always best practice to go step by step. That means I will look for buying opportunities if we drop back to 1.0635 area (with +/- 50 pips flexibility...
I get your point with the bullish engulfing W1 (and reversal bar by the way), this candle runs up straight into confluence and agreement resistance W1 D1.
I am just looking at Pa atm that does not follow up on the previous bullishness, small signs here and there but of course that can also change.
Good luck to you.
We watch the charts from every angle so you don't have to!!
  • #183,496
  • Nov 9, 2023 3:10am Nov 9, 2023 3:10am
Quoting pedro319
{quote} That will be another great sell for me.
Feeling good about yourself and your potential! 1.0600 is a test for me then it can peace out lower if it wants!
Looking for profitable short term trades ...|
  • #183,497
  • Nov 9, 2023 3:47am Nov 9, 2023 3:47am
Bulls may encounter troubles ahead! The US would prefer the Euro to stay low compared to the dollar, to keep trade flowing in the US's favor. So any buying for me should be planned carefully with an extra care to the risk management. I have seen lot of times EU trying to do what it does now only to get butchered later! In this cases signals of weakness at the upside should be watched carefully.
Looking for profitable short term trades ...|
  • #183,498
  • Nov 9, 2023 4:10am Nov 9, 2023 4:10am
Meanwhile, on H4...

With what I see on chart below, I have 2 basic scenarios... Let's see which one plays out first...

*Currently, bulls have the upper hand!
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H4.png Size: 18 KB
Focus only on what truly matters!
  • #183,499
  • Nov 9, 2023 4:23am Nov 9, 2023 4:23am
#EU m15
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 33 KB
I will succeed Not immediately... but definitely
  • #183,500
  • Nov 9, 2023 4:35am Nov 9, 2023 4:35am
Quoting Js3mwtRc
EU staying in a small range at Asia looking to continue what it started yesterday, support is at 1.0660 and resistance at 1.0756. Still no signs of where it's going to head! Daily volatility (range) - 45 pips Significant news - FED Powell speaks, US Initial Jobless Claims. Green pips! 15 min {image}
Yes! I called it. Don't mess with market wizards bulls
Looking for profitable short term trades ...|
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