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  • #1,661
  • Edited 2:22am Jun 15, 2024 2:11am | Edited 2:22am
Quoting rehmatkhan00
{quote} Yup, also see 4hr timeframe, there seems to be a perfect bullish Gartley Pattern. If next week, the bears fail to break the 1.0670 support level then we might see a strong movement to the upside which could end up above 1.09 in the next few weeks.
Quoting ahmerjamil
{quote} Daily: Trendline Support At 1.0650/40... {image}
Quoting ahmerjamil
{quote} I am waiting for my 1.0650/40 level for a long entry!
I found it, It should come down to at least 1.0650/40, Then up...
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_2024-06-15_00-10-24.png Size: 32 KB

I am wishing you all a great weekend...
Stop Procrastinating
  • #1,662
  • Jun 15, 2024 2:45am Jun 15, 2024 2:45am
approximately, I will wait from these zones SELL
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t.me/mrt141184
  • #1,663
  • Jun 15, 2024 3:03am Jun 15, 2024 3:03am
EUR/USD closed down this week after printing a remarkable bullish candle at Wednesday because of bad US CPI for the US Dollar, next the FED was sounded more hawkish than the previous meetings and EU gave back some of its gains. Thursday's US PPI numbers surprisingly didn't helped much after they came worst than the expected number because Europe and more specific France experiences a political crisis (see weekend news) and EURUSD dropped down below 1.0765/50 fibo and US CPI low to reach the next day below 1.0700 at 1.0668 low before news and Fridays profit taking made it consolidate and close at 1.0702.

Next EU should experience resistance at 1.0724/19 broken zone or rise some more but a drop before that could find it lower below Fridays low at 1.0650/43 and if that last doesn't hold 1.0600.
Bulls must defend 1.0668 and reach 1.0765 or some higher at 1.0783.

Weekly volatility (range) 107 pips

Option expiries for Monday: 1.0805 (EU1.08b), 1.0750 (EU865.4m), 1.0670 (EU662.8m) Source: financialjuice.com

Significant news - US Retail Sales, US Industrial Production, US Initial Jobless Claims, US Housing Starts Number & US/EU Manufacturing & Services PMI'S.

Daily
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_2024-06-15_10-24-01.png Size: 111 KB

Have a great weekend!
Looking for profitable short term trades ...|
  • #1,664
  • Jun 15, 2024 8:40am Jun 15, 2024 8:40am
Quoting leafarct
{quote} The problem is that the September FOMC meeting is only in 12 weeks and we have time to visit 1.05 and then visit 1.09
yup you could be right but I don’t consider them at all and only focus on price action which really boosts up my accuracy otherwise thinking about fundamentals all the time drag me into drawdown really quickly.
  • #1,665
  • Jun 16, 2024 2:50pm Jun 16, 2024 2:50pm
Quoting rehmatkhan00
{quote} yup you could be right but I don’t consider them at all and only focus on price action which really boosts up my accuracy otherwise thinking about fundamentals all the time drag me into drawdown really quickly.
Well said. Fundamentals have not line up with Price action lately, so it's better to just follow price action.
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #1,666
  • Edited 5:40pm Jun 16, 2024 3:23pm | Edited 5:40pm
Hello Gents,

Here is my analyses ( Not prediction ) of what we have in store as we start the week. As I mentioned to rehmat for now until we get some steady fundamental price action, I would personally stay away from predicting a certain move because of data. It's better to react to price action than to predict or assume it will go a certain way due to data.

I have marked my chart below to help you locate potential support & resistances. We have a POC volume action at 1.06985. If price struggles to break this (it could be a support area). We also have a possible retraction to 1.06830 on a continuation bullish as this would be golden zone & also a decent FVG. We could also have a re-test of 1.06675. However we have a possible Inverted H&S Forming.

If we where to continue up, I have these resistance marked.

1.072
1.074
1.76
1.78
1.0805

My main resistance lies at around 1.074. We have several things meeting in this area including Supply Zone M30, POC Volume Area, VAL. If bulls manage to break this it would be a good sign for a strong push up.

We still have a valid Inverted H&S on Daily time frame & Support double rejection on H4.

Good luck this week!
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_2024-06-16_16-08-43.png Size: 27 KB
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #1,667
  • Jun 16, 2024 10:35pm Jun 16, 2024 10:35pm

Assalamualaikum Family

May Allah Accept [GOOD DEEDS] From You And Us, Eid Mubarak On Us And You, Allah Is The Greatest, Allah Is The Greatest, There Is No Deity But Allah, Allah Is The Greatest, Allah Is The Greatest, And To Allah Belongs All Praise.

Eid Ul Adha Mubarak

Wishing You And Your Family A Blessed Eid Filled With Happiness And Love.
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Stop Procrastinating
  • #1,668
  • Jun 16, 2024 10:39pm Jun 16, 2024 10:39pm
EUR/USD is trading in a narrow range after the opening, some pips above 1.0700, support is at 1.0668 and must keep the upside momentum intact for a move up to 1.0745 but before that it have to pass its first resistance zone at 1.0719/24. There the bears may push it hard and EU could then drop at the low of Friday or lower to 1.0650/43.

Daily volatility (range) 49 pips

Option expiries for Monday: 1.0805 (EU1.08b), 1.0750 (EU865.4m), 1.0670 (EU662.8m) Source: financialjuice.com

1 hour
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_2024-06-17_06-36-24.png Size: 100 KB

Have a great week!
Looking for profitable short term trades ...|
  • #1,669
  • Jun 16, 2024 10:55pm Jun 16, 2024 10:55pm
Quoting Js3mwtRc
EU could then drop at the low of Friday or lower to 1.0650/43.
Stop Procrastinating
  • #1,670
  • Jun 16, 2024 11:02pm Jun 16, 2024 11:02pm
Quoting ahmerjamil
{quote}
Do you see any magnetic spots?

I call out 1.079 lol
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #1,671
  • Jun 16, 2024 11:46pm Jun 16, 2024 11:46pm
Price ranging 1.07025 to 1.07075

If 1.07075 breaks it may continue going up for now.If it breaks 1.0725 keep an eye on 1.06985 & 1.06850
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_2024-06-17_00-44-36.png Size: 26 KB
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #1,672
  • Jun 16, 2024 11:49pm Jun 16, 2024 11:49pm
Quoting Fxgfitking
{quote} Do you see any magnetic spots? I call out 1.079 lol
Magnetic for today is considered all this range with bold > Option expiries for Monday: 1.0805 (EU1.08b), 1.0750 (EU865.4m), 1.0670 (EU662.8m)

Price shouldn't move outside it and if for less until the expiry or some hour before. We should follow price action towards any level or fade any move if we think we can.

And just for the fun of it, 1.0643 for me is more probable, selling all my
Looking for profitable short term trades ...|
  • #1,673
  • Jun 17, 2024 12:01am Jun 17, 2024 12:01am
Quoting Js3mwtRc
{quote} Magnetic for today is considered all this range with bold > Option expiries for Monday: 1.0805 (EU1.08b), 1.0750 (EU865.4m), 1.0670 (EU662.8m) Price shouldn't move outside it and if for less until the expiry or some hour before. We should follow price action towards any level or fade any move if we think we can. And just for the fun of it, 1.0643 for me is more probable, selling all my
At this point you can't loose with a sell. Open a sell, and forget it , come back next week to see profits I would like to think we will be going up today, just from the rejection on the last Daily candle. I can't say much after 1.074, but I can see 1.079 being a target. That would be great for bears as they would pick up & fill some bearsih FVG to continue a good push down.
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #1,674
  • Jun 17, 2024 12:11am Jun 17, 2024 12:11am
Quoting Fxgfitking
{quote} At this point you can't loose with a sell. Open a sell, and forget it , come back next week to see profits I would like to think we will be going up today, just from the rejection on the last Daily candle. I can't say much after 1.074, but I can see 1.079 being a target. That would be great for bears as they would pick up & fill some bearsih FVG to continue a good push down.
You know what you are doing... don't bother me I'am just making joke. You can continue experimenting and doing the hard thing but just don't eat all your mind energy there. You'll thank me later! Good luck.
Looking for profitable short term trades ...|
  • #1,675
  • Jun 17, 2024 12:18am Jun 17, 2024 12:18am
Possible Bullish Shark Pattern M5
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_2024-06-17_01-18-00.png Size: 25 KB
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #1,676
  • Jun 17, 2024 12:20am Jun 17, 2024 12:20am
Quoting Js3mwtRc
{quote} You know what you are doing... don't bother me I'am just making joke. You can continue experimenting and doing the hard thing but just don't eat all your mind energy there. You'll thank me later! Good luck.
Same to you brother! As always I appreciate your analyses. I enjoy watching the charts & seeing Price Action develop. 1.064 is a possibility. There is a HUGE demand zone in that area in my charts
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #1,677
  • Jun 17, 2024 12:25am Jun 17, 2024 12:25am
Quoting ahmerjamil
{quote} {quote} {quote} I found it, It should come down to at least 1.0650/40, Then up... {image} I am wishing you all a great weekend...
I don't want anything else for now, I just want 1.0650/40...

Daily:
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_2024-06-16_22-24-24.png Size: 54 KB
Stop Procrastinating
  • #1,678
  • Jun 17, 2024 12:25am Jun 17, 2024 12:25am
Quoting Fxgfitking
{quote} Same to you brother! As always I appreciate your analyses. I enjoy watching the charts & seeing Price Action develop. 1.064 is a possibility. There is a HUGE demand zone in that area in my charts
Thanks you mean the daily graph?
Looking for profitable short term trades ...|
  • #1,679
  • Jun 17, 2024 12:40am Jun 17, 2024 12:40am
Quoting ahmerjamil
If this happens... M15: IH&S{image}
And this is still in the range...
Attached Image (click to enlarge)
Click to Enlarge Name: M15 IH&S.png Size: 15 KB

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_2024-06-16_22-38-50.png Size: 44 KB
Stop Procrastinating
  • #1,680
  • Jun 17, 2024 12:41am Jun 17, 2024 12:41am
I'm not open any position today. Wandering around rooms, reading some news, making assessment on situations and done.
In the beginning, I did want to post some technical analysis but I found that Js3mwtRc doing this better and more interesting than mine. In fact, many friends here do it quite well. So I just sit down and appreciate you guys very much.

On fundamentals side, it is obvious there're different views on this, data outcome didn't align with price action made some traders gone clueless. Hence, easily to conclude that fundamentals analysis is worthless. To be fair, calm down and think again. Economics calendar doesn't belongs to FX markets alone, so FX markets doesn't need to follow every data. In my experience, there're Two periods we should consider when doing fundamental analysis, Central Banks and data period. We are trading FX, so direction from Central Banks is a must because they directly affect currency in short-term, and when that affect fading away, markets will then look to data for clues then. (Not to mention this month FED decision is made with CPI data being ignored, that alone to me speaks a lot)

So I will need at least this week of Banks finish to see whether bears done or not.
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