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  • #192,681
  • Mar 22, 2024 6:57am Mar 22, 2024 6:57am
Quoting Mitiblotch
These bulls won't die easy. See my sketch. Mini DHS pattern on the daily. I expect a right shoulfer which means a spike to 1.0880 again and then a good dump to good old 1.06 area. {image}
Yes, that is why we could get the bounce from here.
Good pattern, only one head and one shoulder, potentially forming another shoulder.
Solid!!
We watch the charts from every angle so you don't have to!!
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  • #192,682
  • Mar 22, 2024 7:03am Mar 22, 2024 7:03am
Quoting Erkat
There is some possibility that the daily candle closes as a full shadow[Just a possibility]{image} The key to this is instead of Forex news in the hall of the UN Security Council, which may be able to stop the process of genocide in Palestine today
It depends on the BROKER that you use. All the candle patterns are useless IMO. Because If you compare a few different EURUSD charts, most candles are going to be very different. SO, which one do you trust or go by???
  • #192,683
  • Mar 22, 2024 7:10am Mar 22, 2024 7:10am
Quoting andvk74
{quote} It depends on the BROKER that you use. All the candle patterns are useless IMO. Because If you compare a few different EURUSD charts, most candles are going to be very different. SO, which one do you trust or go by???
I use ICM broker for my transactions
Half of the time, the market is building resistance and support levels, and
  • #192,684
  • Mar 22, 2024 7:21am Mar 22, 2024 7:21am
Here it comes..taco time
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  • #192,685
  • Mar 22, 2024 7:25am Mar 22, 2024 7:25am
Quoting Erkat
There is some possibility that the daily candle closes as a full shadow[Just a possibility]{image} The key to this is instead of Forex news in the hall of the UN Security Council, which may be able to stop the process of genocide in Palestine today
Happening now! Good news.
Looking for profitable short term trades ...|
  • #192,686
  • Mar 22, 2024 7:26am Mar 22, 2024 7:26am
Question to ponder:

Should Mr. Powell give a dovish speech indicating 3 rate cuts an in response EUR jumps to 1.09...

Was it the result of the speech or a 50% fib re-tracement?

I wonder....
  • #192,687
  • Mar 22, 2024 7:29am Mar 22, 2024 7:29am
Quoting fx6996
Question to ponder: Should Mr. Powell give a dovish speech indicating 3 rate cuts an in response EUR jumps to 1.09... Was it the result of the speech or a 50% fib re-tracement? I wonder....
isn't that what everyone is expecting? should already be priced in
  • #192,688
  • Mar 22, 2024 7:35am Mar 22, 2024 7:35am
Staying long until 1.0840 then re-ass

Attached Image (click to enlarge)
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  • #192,689
  • Mar 22, 2024 7:36am Mar 22, 2024 7:36am
Quoting fx6996
Question to ponder: Should Mr. Powell give a dovish speech indicating 3 rate cuts an in response EUR jumps to 1.09... Was it the result of the speech or a 50% fib re-tracement? I wonder....
The EU jump to 1.0900 was likely influenced by both the Fed Chair Powell's speech and the 50% Fibonacci retracement level. The drop came in after more probabilities of an ECB cut at June comparing the Fed.
Looking for profitable short term trades ...|
  • #192,690
  • Mar 22, 2024 7:40am Mar 22, 2024 7:40am
Quoting Polimini
{quote} isn't that what everyone is expecting? should already be priced in
Yes, most people EXPECT the above.

So IF EUR climbs does that support technicals or fundamentals? Now suppose Powell comes across negative and says only 2 rate cuts?
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  • #192,691
  • Mar 22, 2024 7:58am Mar 22, 2024 7:58am
First R: (1.0839)
Stop Procrastinating
  • #192,692
  • Mar 22, 2024 8:16am Mar 22, 2024 8:16am
Quoting ahmerjamil
First R: (1.0839)
1.0829 was Daily support 1, since that was broken it is now an R and it has rejected EURO 1.0814 id a support and below Low of today 1.0798-1.0801 is the support as i see it
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #192,693
  • Mar 22, 2024 8:26am Mar 22, 2024 8:26am
Quoting fx6996
{quote} Yes, most people EXPECT the above. So IF EUR climbs does that support technicals or fundamentals? Now suppose Powell comes across negative and says only 2 rate cuts? {image}
idk, i was just stating the obvious back there.
Someone once said to me, the markets have pretty much the scenarios covered unless it's something really major. It may bounce, but then it resumes whatever the big money on M1 wants it to do.
  • #192,694
  • Mar 22, 2024 8:27am Mar 22, 2024 8:27am
Quoting Avir
{quote} 1.0829 was Daily support 1, since that was broken it is now an R and it has rejected EURO 1.0814 id a support and below Low of today 1.0798-1.0801 is the support as i see it
I'm gonna put my money where my mouth is,,, looking to enter short, possibly after 13.30 UK time just below 1.0832 targeting 1.0798 - will keep the forum posted if i enter
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #192,695
  • Mar 22, 2024 8:31am Mar 22, 2024 8:31am
Quoting Avir
{quote} 1.0829 was Daily support 1, since that was broken it is now an R and it has rejected EURO 1.0814 id a support and below Low of today 1.0798-1.0801 is the support as i see it
Attached Image (click to enlarge)
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Stop Procrastinating
  • #192,696
  • Mar 22, 2024 8:31am Mar 22, 2024 8:31am
Quoting Erkat
{quote} I use ICM broker for my transactions
I just want to say - DON'T trust candlestick patterns!
  • #192,697
  • Mar 22, 2024 8:35am Mar 22, 2024 8:35am
Quoting Avir
{quote} I'm gonna put my money where my mouth is,,, looking to enter short, possibly after 13.30 UK time just below 1.0832 targeting 1.0798 - will keep the forum posted if i enter
No it does not looks like i will have an entry of my liking , we have gone way too low for my kind of stop, so i will wait
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #192,698
  • Mar 22, 2024 8:41am Mar 22, 2024 8:41am
Long 1.0822. TP 1.0880. My system is showing scalp buy for at about 60 pips.
  • #192,699
  • Mar 22, 2024 8:41am Mar 22, 2024 8:41am
Quoting fx6996
{quote} Yes, most people EXPECT the above. So IF EUR climbs does that support technicals or fundamentals? Now suppose Powell comes across negative and says only 2 rate cuts? {image}

i was listening to the fed broadcast, subtitles came before the speech. is this a delayed broadcast? if so, the banks already know the decisions
  • #192,700
  • Edited 9:27am Mar 22, 2024 8:43am | Edited 9:27am
Candlestick patterns are great, biggest invention after butter!!
The thing is, like with most things, it requires some technical knowledge and when people don't understand that, they say it's crap!!
A few things to bear in mind when it comes to candlestick patterns:
What is the timeframe?
Where do they appear?
They can help entering trades and estimating targets.
Some traders use them on their own, others, combine them with other methods.
We watch the charts from every angle so you don't have to!!
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