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  • #3,801
  • Jul 12, 2024 11:26am Jul 12, 2024 11:26am
Quoting Fxgfitking
I am glad I stayed out. I expected a drop after the data, but I had a feeling with it being Friday that it would not make sense & they would leave for the weekend tricking most. Most of my analyses showed a reversal/retracement around 1.089-1.09 & the data was the icing on the cake for that. Once I saw the sweep & quick push back up I knew they would continue up, but I did not want to jump up, because buying currently does not feel justified for me. Today has been pretty boring otherwise for the pair. I still have huge overbought signals as well....
Also have a previous daily resistant trend line around that area there. Could be resistance to support around 1.088 area. Glad to see you back bro!
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  • #3,802
  • Jul 12, 2024 11:29am Jul 12, 2024 11:29am
Quoting SmallGains
{quote} Also have a previous daily resistant trend line around that area there. Could be resistance to support around 1.088 area. Glad to see you back bro! {image}
You know we're seeing the same thing lol I'll shoot you text msg you soon! I have a lot to catch you up on Hope you're doing well bro
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #3,803
  • Jul 12, 2024 11:40am Jul 12, 2024 11:40am
Quoting Js3mwtRc
They pushed up above 1.0900 only to drop now! Maybe they go out for the weekend and then take out 1.0930 next week who knows! Who ever buys up here has some
Typical wacko Friday I've learned that unless something is obvious or it hits my Sell/Buy Limit - I try to stay out Friday's now
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #3,804
  • Jul 12, 2024 11:47am Jul 12, 2024 11:47am
Quoting Mitiblotch
{quote} The criminals can see the divergence. They won't drop until everyone gives up. That's why entering small lots is good. You wait it out while scalping the direction of the fake trend. Lol
Must be an AI created trend The more sells the AI see's the higher it goes Basically it's gaining value while more supply is available. Does not make as much sense but it's Friday so thats normal on Fridays
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #3,805
  • Jul 12, 2024 12:05pm Jul 12, 2024 12:05pm
The MACD has a divergence. Could this mean that a correction or reversal is coming?
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  • #3,806
  • Jul 12, 2024 12:25pm Jul 12, 2024 12:25pm
Quoting AmDrafax
The MACD has a divergence. Could this mean that a correction or reversal is coming? {image}
Yes, It is very possible. I also use RSI to see trend strength & moment. H4 we have a RSI H4 Divergence. This is all technical & the market can do whatever it wants, however these signals usually help. Having several for confirmations is best. Most of my confirmations are adding up. We still have maintained 1.09024 as resistance. However 1.093 is potential target & we just have to see if a correction & possible reversal happen.

Chart & RSI are for H4
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If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #3,807
  • Jul 12, 2024 2:38pm Jul 12, 2024 2:38pm
Quoting Fxgfitking
{quote} Must be an AI created trend The more sells the AI see's the higher it goes Basically it's gaining value while more supply is available. Does not make as much sense but it's Friday so thats normal on Fridays
It's not even normal. If most people were long price would range or even go down slightly. It's only doing this because most are short.
  • #3,808
  • Jul 12, 2024 2:49pm Jul 12, 2024 2:49pm
.. would it make some more insight if not take every time the same settings for building the divergences ...
.. what if you first look for the suitable movement, the cause of the move and after you have this clue go over to pick the setting that suits the move well ... the more "presice" will the divergence in the end ...
random connections lead more or less to nothing ..

means ... RSI 14 .. MACD 12,26,9 ... is not ever the best choice
Perfection is the enemy of good enough!
  • #3,809
  • Jul 12, 2024 2:59pm Jul 12, 2024 2:59pm
This week, I grew my account from 500 to over 800 and my accuracy was like 40 percent because of too many mistakes I did but if you have an edge and stay discipline and patience, at the end you will end up with some profit..........the purpose of sharing is that do not get disappointed, if your this week was negative. I know your next week will be positive and you will not only recover your loss but also make some profit In Sha Allah.........thanks to all of you for incredible help ........have a nice weekend to all of you ..........see you all on Monday
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  • #3,810
  • Jul 12, 2024 3:51pm Jul 12, 2024 3:51pm
Quoting rehmatkhan00
This week, I grew my account from 500 to over 800 and my accuracy was like 40 percent because of too many mistakes I did but if you have an edge and stay discipline and patience, at the end you will end up with some profit..........the purpose of sharing is that do not get disappointed, if your this week was negative. I know your next week will be positive and you will not only recover your loss but also make some profit In Sha Allah.........thanks to all of you for incredible help ........have a nice weekend to all of you...
Congrats bro! Now keep focused on protecting what you made while growing the account next week!
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #3,811
  • Edited 6:41pm Jul 12, 2024 4:37pm | Edited 6:41pm
Impressive week for EURUSD. Looking at the weekly candles we are certainly very bullish. We are due for a correction soon. Looking at daily 1.077 would be the daily time frame for bulls to fight back if bears push down. The deeper the correction the weaker the trend and currently the trend is strong, so I am not when we will get there.

If we see no further upside look for 1.088, 1.087 & 1.086 for supports. These are all STRONG supports currently with the bullish momentum. Any rejection of these would be a decent place to buy showing momentum is still strong. If 1.08800 get's broken that will break trendline & suport support & the next target maybe the following trendline at 1.08450.

Next week seems to be an obvious move, but EUR has been on a rocket last 2 weeks so it's been hard to read since no true correction has occurred yet.

I have scrolled wayyyy back so you can see the dailyresistance we are under on a Daily Time Frame . We are currently right under the yellow block. That yellow block provided support for targets of 1.10. With a continuation up we will see 1.093-4 next. ( 2nd image you can see M5 timeframe & where we closed)

For Bears to gain more momentum 1.082 has to be reached again.

If Bulls manage to hold 1.09075 as support, They can continue their movement forward without a retracement for now. If they can't find support there we will go down, & with so much selling/supply pressure it can be down up to 1.077 on Daily, but with the Bull Momentum deepest I currently am planning for is 1.0845.

We are Currently at the crucial support/resistance of 1.09075 they were able to go up above close to market close, but bears pushed back down for the 4th time today. The market closed with Bulls Retesting the support/resistance. ( 2nd image - Timeframe M5 )
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If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #3,812
  • Jul 12, 2024 6:20pm Jul 12, 2024 6:20pm
Quoting Fxgfitking
Impressive week for EURUSD. Looking at the weekly candles we are certainly very bullish. We are due for a correction soon. Looking at daily 1.077 would be the daily time frame for bulls to fight back if bears push down. The deeper the correction the weaker the trend and currently the trend is strong, so I am not when we will get there. If we see no further upside look for 1.088, 1.087 & 1.086 for supports. These are all STRONG supports currently with the bullish momentum. Any rejection of these would be a decent place to buy showing momentum is...
Indeed its been super bullish and its possible for it to just keep running up Asia likes to buy high seems. I would think at least some kind of pull back but not expecting much. First chart is the initial run up of Thursday 7/11/24. only pulled back slightly past the 38% level. Second one is from that pull back to top. could see a minor pull back to the 38% level again. Looking like a double top that resisted on D1 resistance. Lastly we have R1 on my pivot chart 3rd chart. It is also at the 1.088 area. Still have overbought timeframes but that doesn't mean much as they can manipulate as they wish. Will be interested to see how week opens with asia taking first shot at it. Currently I'm still short as I held through the weekend. All charts are 4hr time frames.
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  • #3,813
  • Jul 12, 2024 11:45pm Jul 12, 2024 11:45pm
Quoting Fxgfitking
{quote} Congrats bro! Now keep focused on protecting what you made while growing the account next week!
thanks bro
  • #3,814
  • Jul 13, 2024 2:55am Jul 13, 2024 2:55am
EUR/USD pair experienced a period of consolidation above the 1.0900 level before finally closing the week above this crucial round number, forming a robust bullish candlestick. With the immediate resistance at 1.0916 within reach, a break above this level could pave the way for bulls to target the significant resistance at 1.0981, established on March 8th, 2024.

While some resistance may be encountered at 1.0943 and 1.0960/65, the bulls could manage to overcome these levels if the market sentiment remains supportive. On the other hand, bears need to push the price back below 1.0900, aiming to test the 1.0865/60 support zone. If this support area fails to hold, and bulls are unable to regain control, a revisit of the 1.0805 low could be in the cards.

As always, closely monitoring news updates and indicators is essential in providing insights to support any trading perspective.

Weekly volatility (range) 72 pips

Option expiries for Monday: 1.0900 (EU2.69b) & 1.0825 (EU1.18b) Source: financialjuice.com

Significant news - US Retail Sales, US Housing Starts Number, US Industrial Production, ECB Interest Rate & US Initial Jobless Claims

Daily
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Have a great rest of the weekend!
Looking for profitable short term trades ...|
  • #3,815
  • Edited 12:33pm Jul 13, 2024 12:01pm | Edited 12:33pm
Quoting SmallGains
{quote} Indeed its been super bullish and its possible for it to just keep running up Asia likes to buy high seems. I would think at least some kind of pull back but not expecting much. First chart is the initial run up of Thursday 7/11/24. only pulled back slightly past the 38% level. Second one is from that pull back to top. could see a minor pull back to the 38% level again. Looking like a double top that resisted on D1 resistance. Lastly we have R1 on my pivot chart 3rd chart. It is also at the 1.088 area. Still have overbought timeframes but...

Also bro let's not forget POC & it eventually went back up the POC we talked about when we where at 1.068 & 1.86 seemed impossible Well here we are... 1.089-1.09 seems to be a strong support right now & resistance at 1.09100. The Weekly POC is at 1.087, Daily is 1.0859, M5 POC is at 1.089 & M15 & M30 are at 1.086 & H1 at 1.825

The ONLY POC currently above is the Monthly at 1.0929 so that leads me to believe that maybe the target. If that becomes support we may continue up to 1.95,98 & 10.1 possibly. For now we have to find the support first. If M5 POC does not break that could be a support to go up.

Images in order from : M5 , M30, & Monthly POC


PS: The Sweep on Friday went down to 1.08735 - I also de believe this could be a possible retest area.
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If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #3,816
  • Jul 13, 2024 12:52pm Jul 13, 2024 12:52pm
Monthly seems we are in an Inverted H&S & it is possible we test a previous high of 1.10 especially with the USD Data we have had lately? Just seeing if anyone sees the same? 1.0943 is 50% FIB
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If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #3,817
  • Jul 13, 2024 12:59pm Jul 13, 2024 12:59pm
Quoting Fxgfitking
Monthly seems we are in an Inverted H&S & it is possible we test a previous high of 1.10 especially with the USD Data we have had lately? Just seeing if anyone sees the same? 1.0943 is 50% FIB {image} {image}
Quoting ahmerjamil
{quote}This is D1 trendline support, We cannot forget this... {image}
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Stop Procrastinating
  • #3,818
  • Jul 13, 2024 1:03pm Jul 13, 2024 1:03pm
Quoting ahmerjamil
{quote} {quote}{image} {image} {image}
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If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #3,819
  • Jul 13, 2024 1:13pm Jul 13, 2024 1:13pm
Quoting Fxgfitking
{quote} {image}
Our weekend is also spent here!
Stop Procrastinating
  • #3,820
  • Jul 13, 2024 1:14pm Jul 13, 2024 1:14pm
Quoting ahmerjamil
{quote} Our weekend is also spent here!
But they wonder why we do so good, but they don't put the same time in the craft we do
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
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