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  • #197,521
  • May 29, 2024 10:17am May 29, 2024 10:17am
1.0800 last line of bulls defense needs to hold at any cost
Let's bribe some bears with cocaine I even got some molly
  • #197,522
  • May 29, 2024 10:18am May 29, 2024 10:18am
Quoting Js3mwtRc
EUR/USD dropped to near the low of this week, 1.0840 is critical now as it must hold the bulls from further drop. A rise above 1.0865 first resistance towards 1.0880/89 could be met. In the news German CPI may help but a failure of the release to meet the consensus will break EU with next level of support at 1.0804. Daily volatility (range) 39 pips Option expiries for Wednesday: 1.0875 (EU1.47b), 1.0800 (EU1.32b), 1.0890 (EU923.8m) source: financialjuice.com 1 hour {image} Green pips!
Huge option expiries today brought EU down. If this gets worse, then 1.0800 may not hold. But first we must see what will happen at the lows or some pips below to 1.0795/90.
Looking for profitable short term trades ...|
  • #197,523
  • May 29, 2024 10:22am May 29, 2024 10:22am
Short closed that 1 hr sell side inbalance was too strong think it held for about 12 candles till it dropped in the end. Head n shoulders completed. Have a good one all.
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  • #197,524
  • May 29, 2024 10:32am May 29, 2024 10:32am
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wait, wait, patience ...
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #197,525
  • May 29, 2024 10:33am May 29, 2024 10:33am
Quoting mtako
{quote}They are doing not so bad, for the last 28 trading hours, so I agree that there has to be some white power involved Boy !! those bears are being so graceful and beautiful. Bull's need to be like them also, so I have decided to call my Rising Ballet friends and I can see they are stretching now and getting ready !!! {quote} Price now sliding around 0814 >0812 Buy <0807 Sell {image}
I think buying should be consider once it hits 1.0780 or 1.0790 as the correction still seems to be in-completed.
  • #197,526
  • May 29, 2024 10:37am May 29, 2024 10:37am
Quoting mtako
{image} wait, wait, patience ...
NOW!


buy stops
0812 0813 0814 0815 0816
08133 08147 08163 08173 08187
08161 08178 08196 08214 08233
0824 0829 0834 0839 0844
0831 0836 0841 0846 0851 0856

and, for the bigger boys:

buy stops 0818 0834 0849 0865 0880(might take a couple months) !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #197,527
  • May 29, 2024 10:40am May 29, 2024 10:40am
Quoting rehmatkhan00
it looks the correction was not completed
Depends on where you are marking your correction from. I'm marking mine from the initial bottom back in early April (1.06ish), and using the top in mid May (1.0895). The fib ratio is still 30 pips to the down side. I'm targeting 1.0785 as a full correction. But we'll see.
  • #197,528
  • May 29, 2024 10:42am May 29, 2024 10:42am
Quoting mtako
{image} wait, wait, patience ...
Looks like nothing is holding the bear....until it doesn't!
Looking for profitable short term trades ...|
  • #197,529
  • May 29, 2024 10:44am May 29, 2024 10:44am
Probably going to bounce soon....hitting 1.082 area before continuing down. No real analysis there. Market over sold...if the move is to continue down a bit, the market will need a short correction.
  • #197,530
  • May 29, 2024 10:46am May 29, 2024 10:46am
Quoting rehmatkhan00
{quote} I think buying should be consider once it hits 1.0780 or 1.0790 as the correction still seems to be in-completed.
You are probably right, for bulls have not shown horns yet. Me see when/IF 0780-0790 gets hit.

But for now, as long as it keeps on steeply going down, I keep on adding buy stops, most of which wont get triggered if Mr.Price keeps on being moved by the infamous Vice Dare Bears Squad
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #197,531
  • May 29, 2024 10:51am May 29, 2024 10:51am
Is this move due to the release of German inflation? What changed from yesterday?
  • #197,532
  • May 29, 2024 10:57am May 29, 2024 10:57am
Quoting Dollar74
{quote} If bears can protect bulls at 1.0850 to 1.0855, we may see 1.0810 to 1.0820 very soon. Otherwise, we may go to 1.0875 once again.

Let's see how bulls protect the bears at 1.0810.
  • #197,533
  • May 29, 2024 10:58am May 29, 2024 10:58am
Today's German CPI release still indicated a likely small 0.25% rate cut by the ECB next week, which could signal a slowdown in disinflation. In response, the EUR/USD pair dropped to a low of 1.0809, approaching the critical 1.0800 support zone. To maintain bearish momentum, the pair must stay below the 1.0829 resistance area. Otherwise, consolidation might occur, potentially leading to further gains for the euro.

EUR/USD pair may experience significant fluctuations before potentially reaching my target range of 1.0750/25. As I have mentioned before, staying prepared for increased volatility, particularly around high-impact news releases, is essential.

I wish you a successful rest of the trading day ahead. Stay vigilant and keep those risk management techniques at the forefront of your strategy. Goodnight!

1 hour
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Looking for profitable short term trades ...|
  • #197,534
  • May 29, 2024 10:59am May 29, 2024 10:59am
Quoting Js3mwtRc
{quote} Looks like nothing is holding the bear....until it doesn't!
exactly ! And with the right psychotropic drug in bears OR in my system, I foresee 0.0001 before the end of the year

Buy stops 08136 08143 0815 08173 0820 TP10 TP25 TP50 TP75 TP100 !

This here is definitely a Buying the falling knife trader's joke !:

Quoting Js3mwtRc
...As I have mentioned before, staying prepared for increased volatility, particularly around high-impact news releases, is essential. I wish you a successful rest of the trading day ahead. Stay vigilant and keep those risk management techniques at the forefront of your strategy. Goodnight! 1 hour {image}
Thank you Js3mwtRc, you too!!!
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #197,535
  • May 29, 2024 11:10am May 29, 2024 11:10am
Quoting Rundatbag
Is this move due to the release of German inflation? What changed from yesterday?
For me, intraday perspective, nothing has changed. Been steadily going down since middle of yesterday and in my opinion this continuation is comprised of natural intraday trending movements, no news needed(not saying news had no effect, just that history shows that these moves occur regularly without news).

Buy stop 08093 SL2TP2000
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #197,536
  • May 29, 2024 11:13am May 29, 2024 11:13am
Buy stop 08099 SL10TP1000

I am looked at like this right now
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #197,537
  • May 29, 2024 11:14am May 29, 2024 11:14am
Quoting mtako
{quote}You are probably right, for bulls have not shown horns yet. Me see when/IF 0780-0790 gets hit. But for now, as long as it keeps on steeply going down, I keep on adding buy stops, most of which wont get triggered if Mr.Price keeps on being moved by the infamous Vice Dare Bears Squad {image}
Your strategy of buying is good and if it fails to bounce then most of your buy orders will be not filled and you will have a little loss even if it goes against you.
  • #197,538
  • May 29, 2024 11:25am May 29, 2024 11:25am
Quoting rehmatkhan00
{quote} Your strategy of buying is good and if it fails to bounce then most of your buy orders will be not filled and you will have a little loss even if it goes against you.
thank you mate!

yes, as long as it is when conditions are ripe for this kind of Taco madness, and a couple other conditions and a quite complex risk management, then yes, on the long-run, it works in my favour.

P.S and it is finally Take OFF !!!(as in "TAKE this bloke OFF my back")
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #197,539
  • May 29, 2024 11:37am May 29, 2024 11:37am
Cheers all, I am done for today, take great care of yourselves and keep on doing YOU



P.S In Taco World, Every single pip, no matter how different they are from one another sometimes, is worth a celebration!!!:

Major update regarding my
Quoting mtako
...without news). Buy stop 08093 SL2TP2000
Only 1995 pips to go folks!!!!



P.P.S My last date's expression as I try to explain to her what I do:
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #197,540
  • May 29, 2024 11:51am May 29, 2024 11:51am
Quoting mtako
{quote}thank you mate! yes, as long as it is when conditions are ripe for this kind of Taco madness, and a couple other conditions and a quite complex risk management, then yes, on the long-run, it works in my favour. P.S and it is finally Take OFF !!!(as in "TAKE this bloke OFF my back") {image}
you are most welcome……. Today we have nothing much left however tomorrow must be a really interesting day as we have a lot of high impact news which can break this week’s range and I hope it will break to the upside
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