Bears have accummulated some more power, let's see how deep they can pierce the daily low.
- #186,202
- Jan 3, 2024 7:34am Jan 3, 2024 7:34am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,567 Posts
Looking for profitable short term trades ...|
- #186,203
- Jan 3, 2024 7:56am Jan 3, 2024 7:56am
- Joined Jan 2016 | Status: Trader | 1,312 Posts
The more you learn, the more you earn (Warren Buffett)
- #186,207
- Jan 3, 2024 9:11am Jan 3, 2024 9:11am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,567 Posts
Seems that after eurusd broke 1.0930 and reached 1.0910 has been stucked to the same range, maybe because the news didn't came as expected and because participants likely wait for the FOMC meeing later to see, if the officials make any change in the December's meeting where they anounced that they will stop raising rates and keep them at the current level for some time.
It's possible that the market is currently consolidating at this level and may remain range-bound until more clarity emerges from the meeting, or other market-moving news are released. In any case you should watch for high volatility, its impossible to predict where its going to head next or how much, but you can manage your risk effective. Two ways to protect from big and unexpected moves are, use stop losses and small risk to big reward target. Also dont use big lots for your trades.
I will see you tomorrow again and until then, good luck with your trades, take care and trade safely!
It's possible that the market is currently consolidating at this level and may remain range-bound until more clarity emerges from the meeting, or other market-moving news are released. In any case you should watch for high volatility, its impossible to predict where its going to head next or how much, but you can manage your risk effective. Two ways to protect from big and unexpected moves are, use stop losses and small risk to big reward target. Also dont use big lots for your trades.
I will see you tomorrow again and until then, good luck with your trades, take care and trade safely!
Looking for profitable short term trades ...|
My long-term bias is till bullish (as nicely analyzed in the video below)... I am waiting for this correction to slow down and end... No rush!https://www.youtube.com/watch?v=itO_YXP6Sfk
- #186,209
- Jan 3, 2024 9:52am Jan 3, 2024 9:52am
- Joined Jul 2011 | Status: Trader | 3,220 Posts | Online Now
Holy Betting Grail strategy
- #186,210
- Jan 3, 2024 10:55am Jan 3, 2024 10:55am
- Joined Jan 2016 | Status: Trader | 1,312 Posts
Are we going to visit 1.085xx ?
The more you learn, the more you earn (Warren Buffett)
- #186,212
- Jan 3, 2024 12:08pm Jan 3, 2024 12:08pm
- | Commercial User | Joined Jul 2013 | 7,923 Posts
We watch the charts from every angle so you don't have to!!
- #186,214
- Jan 3, 2024 1:00pm Jan 3, 2024 1:00pm
- Joined May 2014 | Status: Full Time Trader | 27,330 Posts
I keep sharing this since October 2023. To be more precise, a few weeks ago just when AB=CD was about to complete.
Nowadays, we can see that both TP levels have been reached, some minor correction occurred afterward and finally, price got rejected by the dashed line. (I placed that line there months ago, just so you know how trustworthy geometry can be!)
That said, now we are retesting the most recent circle where candles broke out from a week ago: 1.0888 area max!
If bulls can slowly take back control, we should see a bounce up soon. Nothing is guaranteed of course and therefore we must watch how strong the edge of this dotted circle supports but if support kicks in as anticipated, we then should go back to retest 1.1000 area. Time will tell... (Please also mind that MACD lines are still in bullish territory!)
Best wishes
Nowadays, we can see that both TP levels have been reached, some minor correction occurred afterward and finally, price got rejected by the dashed line. (I placed that line there months ago, just so you know how trustworthy geometry can be!)
That said, now we are retesting the most recent circle where candles broke out from a week ago: 1.0888 area max!
If bulls can slowly take back control, we should see a bounce up soon. Nothing is guaranteed of course and therefore we must watch how strong the edge of this dotted circle supports but if support kicks in as anticipated, we then should go back to retest 1.1000 area. Time will tell... (Please also mind that MACD lines are still in bullish territory!)
Best wishes
Focus only on what truly matters!
- #186,215
- Jan 3, 2024 5:16pm Jan 3, 2024 5:16pm
- Joined Sep 2018 | Status: Trader Man | 2,137 Posts
Holding the purchases,
H4 Chart, Fibo Fan 78.6 served as support for the price
M30 Chart, Fibo Fan 61.8 served as resistance for the price... Waiting for a possible breakout.
It could very well be the start of the second ranger as Gap Day November 1, 2023.
Remembering that we have Friday
Happy Thursday everyone!
H4 Chart, Fibo Fan 78.6 served as support for the price
M30 Chart, Fibo Fan 61.8 served as resistance for the price... Waiting for a possible breakout.
It could very well be the start of the second ranger as Gap Day November 1, 2023.
Remembering that we have Friday
Happy Thursday everyone!
"No pain no gain"
- #186,216
- Jan 3, 2024 8:47pm Jan 3, 2024 8:47pm
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,567 Posts
EU bounced below 1.0900 after FOMC showed that members decided to keep rates unchanged and spoke about rate cuts. Support is at 1.0892 and a break will lead the price lower at 1.0888 and 1.0862/65 first. Resistance is at 1.0968/65 and then at 1.1000.
Daily volatility (range) - 81 pips
Significant news - ADP & US Initial Jobless Claims
1 hour
Green pips!
Daily volatility (range) - 81 pips
Significant news - ADP & US Initial Jobless Claims
1 hour
Looking for profitable short term trades ...|
- #186,217
- Jan 3, 2024 9:25pm Jan 3, 2024 9:25pm
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,567 Posts
EU bounced below 1.0900 after FOMC showed that members decided to keep rates unchanged and spoke about rate cuts. Support is at 1.0892 and a break will lead the price lower at 1.0888 and 1.0862/65 first. Resistance is at 1.0968/65 and then at 1.1000. Daily volatility (range) - 81 pips Significant news - ADP & US Initial Jobless Claims 1 hour {image}Green pips!
15 min
Looking for profitable short term trades ...|
- #186,218
- Jan 3, 2024 9:45pm Jan 3, 2024 9:45pm
- Joined Apr 2011 | Status: Liverpool's KOP | 8,059 Posts
Patience, Emotion Control and Discipline.
