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EURUSD only

  • #186,361
  • Jan 8, 2024 6:19am Jan 8, 2024 6:19am
Quoting Js3mwtRc
For anyone thinks the market have "memory" this is the level to watch - it can work both ways Its a direct buy, or sell after the close trade, try on demo 1 hour {image}
TRUE...

10928 I have as a level
Attached Image (click to enlarge)
Click to Enlarge Name: 2024-01-08_EURUSD_M5_JBRolim.png Size: 36 KB
"No pain no gain"
  • #186,362
  • Jan 8, 2024 6:25am Jan 8, 2024 6:25am
Quoting JBRolim
{quote} TRUE... 10928 I have as a level {image}
The method of market memory is an interesting one, historical price levels can have an impact on future price movements but cant predict anything... thats why a 1 to 2 or 3 times the reward is suggested!
Looking for profitable short term trades ...|
  • #186,363
  • Jan 8, 2024 6:31am Jan 8, 2024 6:31am
Quoting Js3mwtRc
{quote} The method of market memory is an interesting one, historical price levels can have an impact on future price movements but cant predict anything... thats why a 1 to 2 or 3 times the reward is suggested!
I agree,
But the bulls are taking a while to act, I see that they might have to wash the dishes to pay the bill...
"No pain no gain"
  • #186,364
  • Jan 8, 2024 6:38am Jan 8, 2024 6:38am
Bulls need a "Monday-candle-close" above: 1.0942! Otherwise, bears could get back control tomorrow!

To me, that is the most important level to watch until the end of this day! Let's see..
Focus only on what truly matters!
  • #186,365
  • Jan 8, 2024 6:49am Jan 8, 2024 6:49am
Quoting JBRolim
{quote} I agree, But the bulls are taking a while to act, I see that they might have to wash the dishes to pay the bill...

Well it may take time until a catalyst help the bulls, but also this market may stay in a range for longer...
Looking for profitable short term trades ...|
  • #186,366
  • Jan 8, 2024 7:38am Jan 8, 2024 7:38am
There is an inverted H&S on the M15. I hope I can make a few pips.
Risk Management is of utmost importance!
  • #186,367
  • Jan 8, 2024 8:03am Jan 8, 2024 8:03am
It looks like bulls have no idea what to do... Pathetic! Bears will probably make use of this very soon!

*The H4 candle just closed but not above 1.0952.. What a shame!
Focus only on what truly matters!
  • #186,368
  • Jan 8, 2024 8:04am Jan 8, 2024 8:04am
Quoting pedro319
{quote} After Bfly...inverted H&S, this one makes more sense as the actual support has been touched. Neckline and right shoulder the only levels that matter. H1 chart attached but you can see pattern also on H4. Good luck. {image}
Pattern is working, first checkpoint 1.1020 (neckline) and 1.1058 (pattern conclusion)
Invalidation or failure on the break of 1.0922 which in turn will mean retest of the head at 1.0880.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 18 KB
We watch the charts from every angle so you don't have to!!
  • #186,369
  • Jan 8, 2024 8:13am Jan 8, 2024 8:13am
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDxH1USD.png Size: 14 KB
  • #186,370
  • Jan 8, 2024 9:20am Jan 8, 2024 9:20am
Quoting Austyno
Top of the morning to you all. I have a sell limit @ 1.09699 sl and tp 50 pips Reasons are 1. We had a bearish doji(possible change of direction) which negated the previous bullish engulfing candle on last week thursday' 2. We are on a sell the high mode on my system hence i have a bearish bias 3. We have a potential heads shoulders pattern on 15mins, 30mins, 4hrs. 4. We are very close to a 4hr supply(sell zone) 5. We had a bearish engulfing week last week(bears have taken over)
Trade is active. Godspeed bears
Risk comes from not knowing what to do
  • #186,371
  • Jan 8, 2024 9:21am Jan 8, 2024 9:21am
Now the move that broke 1.0960 can extend even above the first resistance (1.0998) to 1.1027/39.
Looking for profitable short term trades ...|
  • #186,372
  • Jan 8, 2024 9:26am Jan 8, 2024 9:26am
Quoting LoneTrader1
{image}
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDxH1SDSD.png Size: 18 KB
  • #186,373
  • Jan 8, 2024 9:30am Jan 8, 2024 9:30am
Quoting RCtrader
There is an inverted H&S on the M15. I hope I can make a few pips.
It's time to TP.
Risk Management is of utmost importance!
  • #186,374
  • Jan 8, 2024 9:47am Jan 8, 2024 9:47am
1.1000 seems like a good place for today.
"No pain no gain"
  • #186,375
  • Jan 8, 2024 10:23am Jan 8, 2024 10:23am
Quoting LoneTrader1
{quote} {image}
Why do you think this resistance should work? We are still in a downtrend on US T-bonds and DXY...

Attached Image (click to enlarge)
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  • #186,376
  • Edited 11:20am Jan 8, 2024 10:49am | Edited 11:20am
Quoting MateuszFx123
{quote} Why do you think this resistance should work? We are still in a downtrend on US T-bonds and DXY... {image} {image} {image}
I don't think it should work, but it could work and placed a trade to find out. Secondly I don't go in that much detail about trends as it's just a scalp trade with tiny SL.
And I don't mind criticism and discussing trade setups, but before entry or right after the entry, not when my trade position is struggling.
  • #186,377
  • Jan 8, 2024 10:50am Jan 8, 2024 10:50am
1hr Chart

Looks like we are going to clear the gap? Top of the NFP run is 1.09982, will be looking for this to get filled to the top side and hit that 200ma(Purple). Dark purple order block formed and is the only place to provide and stop power past the current position of ~1.0975. I will be looking for a slight pullback here and continuation to the top of NFP run closing the gap. Bears will decide what they want to do from here. Otherwise we will get a rejection soon and see a run back toward equilibrium at 1.094 area. Still waiting as this has been a snooze kinda day.

Good luck all as it is still set for either direction in good shape. Keep those stops close and watch the lower impulses for entry so you don't get caught out!
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 12 KB
  • #186,378
  • Jan 8, 2024 11:06am Jan 8, 2024 11:06am
1.0980, closing all purchases today. Good luck to you who will continue.
"No pain no gain"
  • #186,379
  • Jan 8, 2024 11:20am Jan 8, 2024 11:20am
EU found support at 1.0922 today and also managed to break and hold above minor resistance at 1.0960 signalling a continuation towards 1.1000. Lower levels can't been seen for now as it has left the danger of breaking lower - at least for now and as long as it bounces above 1.0930/40 succesfully. The move is happening on a good market sentiment and on expectations that the US cpi later in the week will continue to turn lower so the Fed can start cutting rates from early spring. A change of that view, or something unexpected will see it testing 1.0922 - 1.0900 again.

Its time to close for me now, I wish you a profitable rest of the day!
Looking for profitable short term trades ...|
  • #186,380
  • Jan 8, 2024 12:49pm Jan 8, 2024 12:49pm
Quoting LoneTrader1
{quote} {image}
Closed 1 Position as a partial TP. 1 open till SL or TP
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDxM30USUS.png Size: 10 KB
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