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  • #188,481
  • Feb 10, 2024 1:00am Feb 10, 2024 1:00am
...
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  • #188,482
  • Feb 10, 2024 1:34am Feb 10, 2024 1:34am
Quick H4 Outlook for Monday

  1. So far, bulls protected double bottom area quite well. Now the question is: Can they keep price above (or around) ~1.0777? (In other words: Bulls staying between [1.0755 and 1.0780] would be good, I believe.)
  2. If bulls can do that, we could have a chance to retest 1.0835...
  3. If bulls fail, bears would definitely try to break below ~1.0723 and I believe they would succeed this time.

Anyways... that's it for now..

Keep enjoying your weekends.. Cheers

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Focus only on what truly matters!
  • #188,483
  • Feb 10, 2024 2:46am Feb 10, 2024 2:46am
EU closed up at Friday and created a doji candle formation for the week, is this a sign for future advances? Maybe if it manages to make more base above 1.0787/95 will reach higher at the 1.0900/30 zone with a risk advancing at 1.1000. The low of this range is at 1.0723 and a drop below targets 1.0656/43/10. That's all, more levels and notes on chart! I will be here again at Monday for more updates. Until then have a great rest of your weekend!

Weekly volatility (range) 87 pips

Significant news - US CPI, US Retail Sales, US Initial Jobless Claims, US Industrial Production, US PPI, US Housing Starts & University Michigan Sentiment.

Daily chart with 50, 100 & 200 ma's
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Looking for profitable short term trades ...|
  • #188,484
  • Feb 10, 2024 3:47am Feb 10, 2024 3:47am
Hello can anyone tells me if it is normal to have this confluence 8890 gives a 38 fibo on up move and down move ?
we should expect big resentence at that level ?
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Scalping
  • #188,485
  • Feb 10, 2024 6:41am Feb 10, 2024 6:41am
Daily Outlook (Update)

  1. Next week, I am still expecting AB=CD: ~1.0740 area to act as solid support (being aware of the fact that there could be various dips down until 1.0696 max. in coming days before real bull rally starts.)
  2. Bulls still have to break above the circle edge: ~1.0795 area, if they want to take back control. Once/if we get there, I will watch how eager or weak bulls behave and alter my plans accordingly.

Best wishes

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Focus only on what truly matters!
  • #188,486
  • Feb 10, 2024 11:44am Feb 10, 2024 11:44am
Quoting Ata-Turkoglu
Daily Outlook (Update) Next week, I am still expecting AB=CD: ~1.0740 area to act as solid support (being aware of the fact that there could be various dips down until 1.0696 max. in coming days before real bull rally starts.) Bulls still have to break above the circle edge: ~1.0795 area, if they want to take back control. Once/if we get there, I will watch how eager or weak bulls behave and alter my plans accordingly. Best wishes {image}
Many thanks for the analysis, i see your TP1 as very probable next week, there is confluence there
  • #188,487
  • Feb 10, 2024 12:16pm Feb 10, 2024 12:16pm
Quoting JBRolim
This channel may be interesting until June/July 2024... {image}
A small memory, it's still in my drafts...
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If the bulls continue, this is my setup until the last week of April.
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To be continued...
"No pain no gain"
  • #188,488
  • Feb 11, 2024 2:56am Feb 11, 2024 2:56am
Quoting guguxpto
Hello can anyone tells me if it is normal to have this confluence 8890 gives a 38 fibo on up move and down move ? we should expect big resentence at that level ? {image} {image}
It's possible that the level of 8890 could be a significant point where buyers and sellers converge, causing a "big reaction" or increased volatility.

However, it's important to note that technical analysis is just one tool traders use to make sense of market movements, and it's not a guaranteed predictor of future behavior. Other factors like economic data, market sentiment, and geopolitical events can also impact price action
Looking for profitable short term trades ...|
  • #188,489
  • Feb 11, 2024 3:37am Feb 11, 2024 3:37am
Hope that everyone is having a NICE weekend! Just a question: WHY do markets move? Let's take EURUSD as an example.
  • #188,490
  • Feb 11, 2024 4:07am Feb 11, 2024 4:07am
Did you see how EURUSD moved UP during the weekend already? As of now it's at 1.0840
  • #188,491
  • Feb 11, 2024 5:05am Feb 11, 2024 5:05am
Quoting guguxpto
Hello can anyone tells me if it is normal to have this confluence 8890 gives a 38 fibo on up move and down move ? we should expect big resentence at that level ? {image} {image}
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  • #188,492
  • Feb 11, 2024 6:26am Feb 11, 2024 6:26am
Quoting andvk74
Hope that everyone is having a NICE weekend! Just a question: WHY do markets move? Let's take EURUSD as an example.
Sentiment, that's what moves markets imho, no matter if it's euro, gold, or other financial asset. Price follows.
  • #188,493
  • Feb 11, 2024 6:29am Feb 11, 2024 6:29am
Quoting xau
{quote} Sentiment, that's what moves markets imho, no matter if it's euro, gold, or other financial asset. Price follows.
SO, it's NOT buyers and Sellers BS???
  • #188,494
  • Feb 11, 2024 6:37am Feb 11, 2024 6:37am
Quoting andvk74
Did you see how EURUSD moved UP during the weekend already? As of now it's at 1.0840
does it mean it is going to gap up when it opens on Monday?
  • #188,495
  • Feb 11, 2024 7:23am Feb 11, 2024 7:23am
Quoting andvk74
Did you see how EURUSD moved UP during the weekend already? As of now it's at 1.0840
1.0840 = JUN 2024 contract ! ! !
FEB 2024 contract = 1.0792
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  • #188,496
  • Feb 11, 2024 10:41am Feb 11, 2024 10:41am
https://www.ig.com/en/indices/market...weekend-eurusd
"No pain no gain"
  • #188,497
  • Feb 11, 2024 11:43am Feb 11, 2024 11:43am
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  • #188,498
  • Feb 11, 2024 12:27pm Feb 11, 2024 12:27pm
Quoting andvk74
{image}
https://www.forexfactory.com/thread/...3#post14751313
So this site and other sites don't show the reality of movements during the week?
Sorry, I didn't understand your post. Could you clarify this divergence?
"No pain no gain"
  • #188,499
  • Feb 11, 2024 1:17pm Feb 11, 2024 1:17pm
A sell off of the dollar should happen before News Tuesday. Markets are really hoping this brings odds of a rate cut back to sooner rather than later. If CPI comes out in favor of the dollar I’ll hold my swing sells. If not then it would be time to close and buy EU….
  • #188,500
  • Feb 11, 2024 2:11pm Feb 11, 2024 2:11pm
Quoting andvk74
{quote} SO, it's NOT buyers and Sellers BS???
We buy and sell for a reason i think. Bank of International settlement could move the market for example as intermediate buyer, large institutions can move the market, algos etc. But you buy and sell for a reason. It's a result of your analysis and sentiment, not the cause, but I may be wrong mate Also you could say - here is a nice round number, and price will react to this because of buyers or sellers like that number, and you will be right, but then - what you define by word "moves"? I think moving the market is creating trends that last months. Off course there are some moments called black-swan events, like this CHF drop in 2015, everyone was talking about that at that moment, and you start to think twice before putting money on the table Anyways, hope Ata wont be mad for such détour in his forum discussion. Lets focus charts my friend
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