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New Cable Thread & Other Pairs

  • #4,521
  • May 14, 2024 9:05am May 14, 2024 9:05am
Gold
H4 possible harmonic swings to 61.8 support 2315
Only a retracement on a bull run.
Just be aware!
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We watch the charts from every angle so you don't have to!!
Harmonics Return Today: 2.2%
  • #4,522
  • May 14, 2024 9:22am May 14, 2024 9:22am
.
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  • #4,523
  • May 14, 2024 9:26am May 14, 2024 9:26am
GU
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  • #4,524
  • May 14, 2024 9:39am May 14, 2024 9:39am
Quoting Mihisti
{quote} Nice thinking, congratulations! Now let's see what is the market reaction.
Thank you! But it wasn't a thinking, it was just data

Under normal circumstances, the trade should have worked. What screwed up the trade was the downward revision of March's PPI (from 0.2% to -0.1%), which the MM's took advantage of to mitigate the impact of the bullish April's PPI and to, quite possibly, engineer a bull trap for when the CPI and Retail Sales are released tomorrow.

Prior month revisions in the 0.3% range in PPI are somewhat anomalous, so when they occur (and especially when they occur in conjunction with a print in the opposite direction, as happened today) it generally means that the MM's are preparing a big move.

The hard part is guessing the direction of that move, but, in the current case, given today's hot PPI print, I can't imagine a scenario other than a higher than expected CPI for tomorrow and, therefore, I must understand that today's move has been designed to complete the harmonic targets at 1.0830's and to trap some bulls before tomorrow's big drop.
@Fran_Trades
  • #4,525
  • May 14, 2024 10:28am May 14, 2024 10:28am
Quoting pedro319
Gold H4 possible harmonic swings to 61.8 support 2315 Only a retracement on a bull run. Just be aware! {image}
isn't this AB=CD feasible anymore

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  • #4,526
  • May 14, 2024 11:08am May 14, 2024 11:08am
Quoting Jewel1996
{quote} isn't this AB=CD feasible anymore {image}
I don't think it will complete that one due to overbought D1.
Normal scenario would be to challenge 2380 area trying to complete extension at 2395 previous swing which was left unmet.
I also keep in mind the possibility of 2315 before the rest happens, this could start from 2359 area.
We watch the charts from every angle so you don't have to!!
Harmonics Return Today: 2.2%
  • #4,527
  • May 14, 2024 11:51am May 14, 2024 11:51am
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"Exchange of hands"
  • #4,528
  • May 14, 2024 12:50pm May 14, 2024 12:50pm
Quoting LetsGoPitt
Hot data, but I don't think anything big will happen on the NASDAQ today. Probably will jojo in this range till tomorrow. 4H {image}
Well, it seems I was wrong. Got stopped out on my 2nd trade today during the breakout, probably due to the revised PPI. Powell did not say anything new.
Managed to recover and still be positive today .

15M
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Next daily resistance zone is already in sight.
Just waiting for CPI tomorrow.

4H
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  • #4,529
  • May 14, 2024 1:27pm May 14, 2024 1:27pm
Quoting FranG
{quote} Thank you! But it wasn't a thinking, it was just data Under normal circumstances, the trade should have worked. What screwed up the trade was the downward revision of March's PPI (from 0.2% to -0.1%), which the MM's took advantage of to mitigate the impact of the bullish April's PPI and to, quite possibly, engineer a bull trap for when the CPI and Retail Sales are released tomorrow. Prior month revisions in the 0.3% range in PPI are somewhat anomalous, so when they occur (and especially when they occur in conjunction with a print...
Tomorrow Is going to the the biggest rally of the month, It isn't going to drop, like you say it is. Sure CPI is going to be higher than expected, but smart money knows the feds are not ready for rate hikes, not just yet, the markets are still going to raise. BTW at least 69% of retail is short on the EURUSD, so plenty of liquidity for smart money to buy in on the upcoming rally over the next few weeks.
  • #4,530
  • May 14, 2024 2:10pm May 14, 2024 2:10pm
Quoting T721
{image}
Inserted Video
'In the clearing stands a boxer And a fighter by his trade..'
  • #4,531
  • Edited 3:52pm May 14, 2024 3:32pm | Edited 3:52pm
Quoting samMM
{quote} Tomorrow Is going to the the biggest rally of the month, It isn't going to drop, like you say it is. Sure CPI is going to be higher than expected, but smart money knows the feds are not ready for rate hikes, not just yet, the markets are still going to raise. BTW at least 69% of retail is short on the EURUSD, so plenty of liquidity for smart money to buy in on the upcoming rally over the next few weeks.
If you have interpreted my message as me saying at any point that the EUR/USD is going to fall tomorrow, then you have misunderstood it. If I had that ability to predict the future then I would be a seer, not a trader.

I simply said that the most logical scenario for me, taking into account TA and fundamentals, is that tomorrow the EUR/USD will fall.

To me this is a game of probabilities and it's good that you have your own scenario backed up by your own thought process, if we all had the same scenario in our minds then there would be no money to be made here as this is a zero sum game.
@Fran_Trades
  • #4,532
  • May 14, 2024 6:24pm May 14, 2024 6:24pm
Quoting T721
{image}
!!!!!!! TOO FUNNY !!!!!!!!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #4,533
  • May 14, 2024 8:46pm May 14, 2024 8:46pm
Quoting minhtri
DXY {hình ảnh
.
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  • #4,534
  • May 14, 2024 10:14pm May 14, 2024 10:14pm
FTSE100 another premarket opening with new record, another gap to be filled. i m with the opinion that pound moves will be contained untill uk stocks keep flying.
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chaos is just unknown order
  • #4,535
  • May 14, 2024 10:41pm May 14, 2024 10:41pm
GU H4
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  • #4,536
  • May 14, 2024 10:44pm May 14, 2024 10:44pm
Just doodling away to push the rainy morning away ...

To resist again or not to resist, that is the question

To pursue its present course or to not pursue its present course, that is the question


Breathe in deep
And deeper
One step at a time
First step: what is happening right now?
Second step: !
I'll get to the second step when first step will be done
I could never multitask.

I think I need another Earl Grey

Hope you like my doodle

Cheers friends!

Happy middle of the week of the month of the quarter !
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #4,537
  • May 14, 2024 10:47pm May 14, 2024 10:47pm
Good morning!
...I Bet You Ain't Never Seen A Donkey Fly!
  • #4,538
  • May 14, 2024 11:17pm May 14, 2024 11:17pm
still good short opportunity
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trading is like dancing, don't think and just listen to the music!
  • #4,539
  • May 14, 2024 11:20pm May 14, 2024 11:20pm
Quoting birdland
still good short opportunity {image}
indeed!
...I Bet You Ain't Never Seen A Donkey Fly!
  • #4,540
  • May 14, 2024 11:30pm May 14, 2024 11:30pm
Good morning Dixie, need some coffee?
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'In the clearing stands a boxer And a fighter by his trade..'
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