{quote} {image}
I'm anticipating that bulls are still not done yet for today.
- #186,642
- Jan 12, 2024 11:00am Jan 12, 2024 11:00am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,419 Posts
Not the week I was expecting, eurusd moved only 90 pips from at least 103 the expected volatility range and in the week with the most significant release lately - US CPI! So I have to think that something is cooking besides of missing 
A close inside 1.1039/1.0930 range will create an inside bar and usually these formations are volatility omens, but can hit both sides and its wise to trade the break out only at the most probable direction which fundamentally is the bull side. I personally disagree, both sides can have equal profits and maybe sometimes a surprise break can have a bigger impact!
Here is a weekly chart with monthly pivots. As you see the close is soon to be above the pivot and this is bullish.
It's been a pleasure chatting with you and discussing the latest market developments. I appreciate your thoughtful analysis and insights, and I'm sure you will as well. Remember to take some time to relax and recharge over the weekend, and I'll see you back here on Monday for more market analysis and trading tips.
Have a fantastic weekend!
A close inside 1.1039/1.0930 range will create an inside bar and usually these formations are volatility omens, but can hit both sides and its wise to trade the break out only at the most probable direction which fundamentally is the bull side. I personally disagree, both sides can have equal profits and maybe sometimes a surprise break can have a bigger impact!Here is a weekly chart with monthly pivots. As you see the close is soon to be above the pivot and this is bullish.
It's been a pleasure chatting with you and discussing the latest market developments. I appreciate your thoughtful analysis and insights, and I'm sure you will as well. Remember to take some time to relax and recharge over the weekend, and I'll see you back here on Monday for more market analysis and trading tips.
Have a fantastic weekend!
Looking for profitable short term trades ...|
- #186,643
- Jan 12, 2024 11:14am Jan 12, 2024 11:14am
- Joined Sep 2018 | Status: Trader Man | 2,123 Posts
"No pain no gain"
- #186,644
- Jan 12, 2024 11:27am Jan 12, 2024 11:27am
- Joined Aug 2018 | Status: Joyful and Proud | 2,001 Posts
I guess everyone made millions today. I should have had a lot more courage. 
Risk Management is of utmost importance!
- #186,647
- Jan 12, 2024 2:30pm Jan 12, 2024 2:30pm
- Joined Sep 2018 | Status: Trader Man | 2,123 Posts
"No pain no gain"
- #186,648
- Jan 12, 2024 8:15pm Jan 12, 2024 8:15pm
- Joined Sep 2018 | Status: Trader Man | 2,123 Posts
I've been watching some mecado shenanigans in the past... ( Strategy Examiner ), observing "gaps"...
Patterns like the one below...
This week the market is cooking something...
On the H1 chart, the price seems to have positioned itself, working, respecting Fibo Fan 38.2, Ma 200 pink and Ma 150 brown.
Maybe what I imagined will not happen, the price at which would need to reach Ma 200 on D1 beforehand to give the bulls more momentum.
W1 pressed into the ellipse.
That's just a 2 cent observation that could happen...
Patterns like the one below...
This week the market is cooking something...
On the H1 chart, the price seems to have positioned itself, working, respecting Fibo Fan 38.2, Ma 200 pink and Ma 150 brown.
Maybe what I imagined will not happen, the price at which would need to reach Ma 200 on D1 beforehand to give the bulls more momentum.
W1 pressed into the ellipse.
That's just a 2 cent observation that could happen...
"No pain no gain"
- #186,649
- Edited 2:15am Jan 13, 2024 12:57am | Edited 2:15am
- Joined May 2014 | Status: Full Time Trader | 27,096 Posts
Quick D1 Levels for Monday
- Still no breakout!
- Bears must break below 1.0920-ish area to open the path towards 1.0792 area...
- Bulls must break above 1.0972 area to be able to retest 1.1044 area...
- Both sides need a little more patience...
Anyway, that's all for now...
Keep enjoying your weekends dear folks... 
Focus only on what truly matters!
- #186,650
- Jan 13, 2024 2:17am Jan 13, 2024 2:17am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,419 Posts
EU finished the week inside a small range as said in my previous post, this 4 hours chart keeps some details you may want to consider in your trading.
Above 1.0998 resistance the next level to watch is this years high at 1.10388 which if, penetraded then the road towards 0.786 Fibonacci level at 1.10986 of the 1.12757/1.04482 correction will open before the high at 1.11393. If both resistance levels hold then eurusd have to take out the low of the daily channel and the 50 daily ma (daily chart) to visit next 1.08651/62 fibonacci levels, 0.236 of the 0.95358/1.12757 rise and 0.50 of the 1.12757/1.04482 correction. The 200 daily ma at 1.08468 may come only if, a break of the last Fibonacci levels give up!
Weekly volatility (range) 97 pips
Significant news - US Retail Sales, US Industrial Production, US Initial Jobless Claims, US Housing Starts Number & University Michigan Sentiment.
4 hours
Daily
Have a great rest of the weekend!
Above 1.0998 resistance the next level to watch is this years high at 1.10388 which if, penetraded then the road towards 0.786 Fibonacci level at 1.10986 of the 1.12757/1.04482 correction will open before the high at 1.11393. If both resistance levels hold then eurusd have to take out the low of the daily channel and the 50 daily ma (daily chart) to visit next 1.08651/62 fibonacci levels, 0.236 of the 0.95358/1.12757 rise and 0.50 of the 1.12757/1.04482 correction. The 200 daily ma at 1.08468 may come only if, a break of the last Fibonacci levels give up!
Weekly volatility (range) 97 pips
Significant news - US Retail Sales, US Industrial Production, US Initial Jobless Claims, US Housing Starts Number & University Michigan Sentiment.
4 hours
Daily
Have a great rest of the weekend!
Looking for profitable short term trades ...|
- #186,653
- Jan 13, 2024 12:02pm Jan 13, 2024 12:02pm
- Joined Sep 2018 | Status: Trader Man | 2,123 Posts
{quote} I think the bad PPI data caused EURUSD to reverse to the upside, it went red again after the mid-day bell. I think Monday will be a red day for EURUSD. Techs point downwards.
I agree with you, even with a NY bank holiday on Monday, many think of EUR being "benefited"...
Thank you for your observation.
"No pain no gain"
- #186,656
- Jan 14, 2024 8:20pm Jan 14, 2024 8:20pm
- Joined Sep 2018 | Status: Trader Man | 2,123 Posts
Hello, I hope everyone is well!
Something tells me that the second leg started today... Price closed the first M1 candle at the 50 fib line of W1... 1.09428.
If the bulls follow my first Tp is at 1.12234
Good luck to everyone!
Happy Monday.
Something tells me that the second leg started today... Price closed the first M1 candle at the 50 fib line of W1... 1.09428.
If the bulls follow my first Tp is at 1.12234
Good luck to everyone!
Happy Monday.
"No pain no gain"
- #186,658
- Jan 14, 2024 8:50pm Jan 14, 2024 8:50pm
Hello, I hope everyone is well! Something tells me that the second leg started today... Price closed the first M1 candle at the 50 fib line of W1... 1.09428. If the bulls follow my first Tp is at 1.12234 Good luck to everyone!
My crystal ball is a bit blurry today
- #186,659
- Jan 14, 2024 9:14pm Jan 14, 2024 9:14pm
- Joined Sep 2018 | Status: Trader Man | 2,123 Posts
{quote} Hi can you share what is that 'something'? My crystal ball is a bit blurry today
"No pain no gain"
- #186,660
- Jan 14, 2024 10:51pm Jan 14, 2024 10:51pm
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,419 Posts
EU is trading above support at 1.0930/35 at the Asian session looking for signs of a break higher but a successful drop below will bring to the test a more significant low of the range - 1.0910. Waiting for clues!
Daily volatility (range) 44 pips
15 min
Have a great week!
Daily volatility (range) 44 pips
15 min
Have a great week!
Looking for profitable short term trades ...|