Disliked{quote} Hi Ata. Here is an image edited version of your chart that expresses what I believe is likely to happen at some point this week, Not necessarily on Monday, though... We´ll see... {image}Ignored
- #197,783
- Jun 1, 2024 6:08am Jun 1, 2024 6:08am
- Joined Jan 2024 | Status: #freepalestine | 3,712 Posts
Stop Procrastinating
- #197,786
- Jun 2, 2024 4:20am Jun 2, 2024 4:20am
Since we couldn't reach above previous highs last Friday, my analysis shows that price will make a little retracements to the price inefficiencies around 1.080 and then run for the 1.09 buyside liquidity. After that we pretty much know that price is exploding down.
GMT(+3)
- #197,787
- Jun 2, 2024 9:21am Jun 2, 2024 9:21am
- Joined May 2014 | Status: Full Time Trader | 27,148 Posts
Focus only on what truly matters!
- #197,788
- Jun 2, 2024 9:41am Jun 2, 2024 9:41am
- Joined May 2014 | Status: Full Time Trader | 27,148 Posts
DAILY Outlook
- We can see that Cypher pattern played out nicely and the drop to TP1 has been completed.
- For my liking, after TP1 completed there can be a slight pullback and price should have continued to TP2 BUT here we can see that the pullback is pretty high and touching 1.0881 area. That makes me suspicious if Cypher TP2 is going to be cancelled or not!
- Therefore, this week, I want to trade carefully until I see clear and strong bearish signs. With current picture bulls are still active and probably planning to break above 1.0881 area.
- To summarize: Candles are still above my GREEN wma line and additionally, Friday candle has closed above my wma-6 moving average line (gray) which gives bulls the upper hand overall. As a result I believe this sideways phase will continue for some time and we must be patient until real direction shows.
Best wishes 
Focus only on what truly matters!
- #197,792
- Jun 2, 2024 11:18am Jun 2, 2024 11:18am
Hello Everyone,
Last time I made some profit with shorting EU at 1.0833, 1.0863 and 1.0883. Closed all at 1.0823 on 22 May. To be honest after that day I was not expecting a jump back so I stayed away last week since it did not make any sense to me.
Now since a new month is starting, I thought I could give it another go. Historically June is a bullish month for EU but May should have been a negative month if we only considered that. As you can see on the first chart we went up 1.71% in the month of May. 
Even though this doesn't mean anything, it is important to know where we stand. I am trying to come up with a trade for the whole month because daily ups and downs they happen, hard to foresee best we can do it limit our risk and try our chances. On the weekly chart, we can see the consolidation that has formed for the last two weeks and I believe it is all for the week. We might have our first rate cut, there is ADP Non-Farm news, etc. We have a busy week. 
Now I know I will be bending the "lines" towards my goal with my next chart but that green spike on my weekly chart where I rested the second point of my red descending line happened between the Christmas and the new year where volume was comparably weak and if I move that line's second point to the next upper wall, we even get a better visual where price respected the line a couple more times. 
That green rectangle below is a monthly FVG that has not been visited yet and that red rectangle a weekly FVG that hasn't been visited since it reversed. Now since we have been wandering around these levels for the last 3 weeks, I think we will spike up with some news, not sure what and collect that liquidity, probably break 1.09 and hit a lot of SL but if ECB decreases rates (keep in mind CPI was higher than expected) which is a decent sized if for me. I don't think EU has the power to keep the price at this level this month and I would think that first bounce would come in that red rectangle which is around 1.07 area. I will set my alert, price hits above 1.09 this week, I will look for an entry short, if everything is bearish and we finish the week below 1.08 and I get no chance, I may enter again on Monday since I think this may be the start of a trend.
I am also reading your thoughts and most of them seem very reasonable. I may give an update next week or when I enter a position but other than that I guess I will see you at the end of June. Take care.
Last time I made some profit with shorting EU at 1.0833, 1.0863 and 1.0883. Closed all at 1.0823 on 22 May. To be honest after that day I was not expecting a jump back so I stayed away last week since it did not make any sense to me.
Now since a new month is starting, I thought I could give it another go. Historically June is a bullish month for EU but May should have been a negative month if we only considered that. As you can see on the first chart we went up 1.71% in the month of May.
Even though this doesn't mean anything, it is important to know where we stand. I am trying to come up with a trade for the whole month because daily ups and downs they happen, hard to foresee best we can do it limit our risk and try our chances. On the weekly chart, we can see the consolidation that has formed for the last two weeks and I believe it is all for the week. We might have our first rate cut, there is ADP Non-Farm news, etc. We have a busy week.
Now I know I will be bending the "lines" towards my goal with my next chart but that green spike on my weekly chart where I rested the second point of my red descending line happened between the Christmas and the new year where volume was comparably weak and if I move that line's second point to the next upper wall, we even get a better visual where price respected the line a couple more times.
That green rectangle below is a monthly FVG that has not been visited yet and that red rectangle a weekly FVG that hasn't been visited since it reversed. Now since we have been wandering around these levels for the last 3 weeks, I think we will spike up with some news, not sure what and collect that liquidity, probably break 1.09 and hit a lot of SL but if ECB decreases rates (keep in mind CPI was higher than expected) which is a decent sized if for me. I don't think EU has the power to keep the price at this level this month and I would think that first bounce would come in that red rectangle which is around 1.07 area. I will set my alert, price hits above 1.09 this week, I will look for an entry short, if everything is bearish and we finish the week below 1.08 and I get no chance, I may enter again on Monday since I think this may be the start of a trend.
I am also reading your thoughts and most of them seem very reasonable. I may give an update next week or when I enter a position but other than that I guess I will see you at the end of June. Take care.
- #197,793
- Jun 2, 2024 11:24am Jun 2, 2024 11:24am
- Joined May 2014 | Status: Full Time Trader | 27,148 Posts
Someone help! LOL I need some confirmation on this: After a Bearish Engulfing Candle On A Bullish Trend - The Trend Continues Up & Usually tries to go past the engulfing candle, if it fails the trend goes bearsih. We had a Bearish Engulfing Candle a few days ago followed by 2 bullish days & a failed attempt Friday & a huge rejection at the trend line. We could be bullish still, but as someone who's been bullish - I do think we have bearsish push coming - even if it turns bullish again.
one of the confusingly funniest comments ever..
Focus only on what truly matters!
- #197,794
- Jun 2, 2024 12:46pm Jun 2, 2024 12:46pm
This week I'll be long. I think we are going to 1.1 If it breaks Friday's low, it means I'm wrong and I'll be longing more to get out of the long position.If we extend above 1.1 it could go up to 1.14 (in a couple of weeks) That would be a fantastic short entry to ride over five thousand PiPs to the collapse of the Euro, which I believe is coming.
Maybe, a great fall is coming soon.
- #197,795
- Jun 2, 2024 1:01pm Jun 2, 2024 1:01pm
- Joined May 2014 | Status: Full Time Trader | 27,148 Posts
Focus only on what truly matters!
{quote}
I posted to see if I am wrong 
I have won many trades going long after an engulfing on a bullish trend & I have the strategy to prove it with 76% win rate 
However once the engulfing shows up, it does turn bearish for the most part a few days later on a D1 time frame. I could be wrong and that why I asked 
if you want I can send you all the stats supporting this lol
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
{quote} Jokes aside, the reason for this indecision has a lot to do with the current location of candles: On one side, we had a clear bearish breakout where price should have continued lower naturally, BUT the supportive blue trendline interferes and causes anomaly! Provided support, gives bulls courage to start new attempts to break above the red resistance zone. On the other side, the horizontal resistance zone, keeps rejecting bulls! Result: We simply are trapped inside a one-side deepening, triangle-ish environment! Simple as that! *Please also...
thank you for feedback. As you can see I have posted my analyses which I am aware of all those aspect. I just needed clarification on that strategy, as I know it has worked for me in the past, and we had a bearish engulfing candle a few days ago. Just trying to get all aspects to become better and help others better If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
- #197,799
- Jun 2, 2024 8:37pm Jun 2, 2024 8:37pm
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,452 Posts
EUR/USD is consolidating after the opening, support is at 1.0840 and a break will target 1.0811. The bulls should break 1.0865 and reach 1.0882 or will lose significant momentum.
Daily volatility (range) 40 pips
Option expiries for Monday: 1.0805 (EU881.2m), 1.0850 (EU869.7m), 1.0860 (EU588.5m) source: financialjuice.com
1 hour
Have a great week!
Daily volatility (range) 40 pips
Option expiries for Monday: 1.0805 (EU881.2m), 1.0850 (EU869.7m), 1.0860 (EU588.5m) source: financialjuice.com
1 hour
Have a great week!
Looking for profitable short term trades ...|
EUR/USD is consolidating after the opening, support is at 1.0840 and a break will target 1.0811. The bulls should break 1.0865 and reach 1.0882 or will lose significant momentum. Daily volatility (range) 40 pips Option expiries for Monday: 1.0805 (EU881.2m), 1.0850 (EU869.7m), 1.0860 (EU588.5m) source: financialjuice.com 1 hour {image} Have a great week!
Waiting to see what happens in London Session.
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.