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  • #3,821
  • Jul 13, 2024 1:23pm Jul 13, 2024 1:23pm
I’m thinking 1.10 is possible
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Scalping
  • #3,822
  • Jul 13, 2024 1:33pm Jul 13, 2024 1:33pm
Quoting guguxpto
I’m thinking 1.10 is possible {image} {image} {image}
It is, we just have to find an entrance that make sense. The minute everyone starts thinking 1.10 it will dive down to 1.06
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #3,823
  • Jul 13, 2024 1:50pm Jul 13, 2024 1:50pm
This week a retracement Is due before going to 1.10
I'll Sell when price is heading to Hell
  • #3,824
  • Edited 2:03pm Jul 13, 2024 1:50pm | Edited 2:03pm
Quoting guguxpto
I’m thinking 1.10 is possible {image} {image} {image}
I also know a healthy reliable high has decent corrections that make sense & grab liquidity along the way. One that is gunning it for a target usually falls back down pretty hard. If no entry's make sense, I stay out.
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #3,825
  • Jul 13, 2024 1:55pm Jul 13, 2024 1:55pm
Quoting Fxgfitking
{quote} So anche che un high sano e affidabile ha delle correzioni decenti che hanno senso. Uno che sta puntando a un obiettivo di solito ricade piuttosto bruscamente. Se nessun ingresso ha senso, resto fuori.
I'll Sell when price is heading to Hell
  • #3,826
  • Jul 13, 2024 3:26pm Jul 13, 2024 3:26pm
We all should be really careful as according to EW, we maybe either at the very end of the fifth wave or very beginning depends how it unfolds. I think it’s highly likely that we might stay in bullish market for next couple of weeks.
  • #3,827
  • Jul 14, 2024 3:00am Jul 14, 2024 3:00am
Quoting rehmatkhan00
We all should be really careful as according to EW, we maybe either at the very end of the fifth wave or very beginning depends how it unfolds. I think it’s highly likely that we might stay in bullish market for next couple of weeks.
Quoting braintec
This week a retracement Is due before going to 1.10
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Stop Procrastinating
  • #3,828
  • Jul 14, 2024 5:31am Jul 14, 2024 5:31am
Quoting ahmerjamil
{quote} {quote} {image}
your counting is wrong brother and the last wave is still pending
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  • #3,829
  • Jul 14, 2024 8:26am Jul 14, 2024 8:26am
Quoting ahmerjamil
{quote} {quote} {image}
Quoting rehmatkhan00
{quote} your counting is wrong brother and the last wave is still pending {image}
How is wrong?? Look closely!

Rules:
1. Wave 2 never retraces more than 100% of wave 1.
2. Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5.
3. Wave 4 never enters the price territory of wave 1.
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Yes It could be that wave five could go up a little more...


Best wishes!
Stop Procrastinating
  • #3,830
  • Jul 14, 2024 8:44am Jul 14, 2024 8:44am
Quoting ahmerjamil
{quote} {quote} How is wrong?? Look closely! Rules: 1. Wave 2 never retraces more than 100% of wave 1. 2. Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5. 3. Wave 4 never enters the price territory of wave 1.{image}{image}Yes It could be that wave five could go up a little more... Best wishes!
These basic rules are absolutely right but the impulsive wave can also extend and it can itself have five waves. The third seems to be extended and the fifth wave is at very beginning now and it can also extend and can make five waves for itself.
  • #3,831
  • Jul 14, 2024 8:52am Jul 14, 2024 8:52am
Quoting rehmatkhan00
{quote} your counting is wrong brother {image}
Quoting rehmatkhan00
{quote} These basic rules are absolutely right
You should not have said wrong!
Quoting rehmatkhan00
{quote}But the impulsive wave can also extend and it can itself have five waves. The third seems to be extended and the fifth wave is at very beginning now and it can also extend and can make five waves for itself.
Anyway, Everyone has a different way of seeing!
Stop Procrastinating
  • #3,832
  • Jul 14, 2024 10:06am Jul 14, 2024 10:06am
Quoting ahmerjamil
{quote} {quote} You should not have said wrong! {quote} Anyway, Everyone has a different way of seeing!
ok brother and yes you are right that I shouldn’t have said it that you are wrong
  • #3,833
  • Jul 14, 2024 11:03am Jul 14, 2024 11:03am
ahh man, what a wholesome thread this is, Nice knowing you guys.
here's is my opinion...

although we are in a bullish bias for a weakening USD but, we are in a tight range with resistance at 1.09100-1.09120 and support as 1.0900, to push further and to ease all sorts of technical divergence and overbought extremes, we will have a retracement to like 1.0880 level so if such retracement occurs, we need to see the price action, if we reach 1.0880 support with long red volume candles, then know that, 1.0880 won't hold much, if price drops fast then the nearest supports are 1.08600, 1.08550, 1.08450 even 1.081!!! so pushing price up as soon as market open is unlikely since the recent trump assassination attempt will make US investors to be cautious and along with the EU's headless chicken run, we may have some downside as part of retracement to have another leg up there is even possibilities of a market gap to form because we have imbalance in buyers and sellers in the market but, which side? most likely to the downside, so tomorrow will be kinda choppy market.
  • #3,834
  • Edited 3:09pm Jul 14, 2024 2:58pm | Edited 3:09pm
As we get ready for a new week today & I analyzed some more, I am Looking at the trendline for support ( we have two trendlines meeting around that price point + support.) at around 1.08850 range & then a possible upside to the top trendline for a retest at around 1.092-093+ before going down & retesting lows for more liquidity, before a possible higher high , or it may continue down. I would not consider a reverse until below 1.076

All depends which support holds currently. Also they can drop it this week now that most are thinking long so be weary. With current momentum I would like to see 1.0885 hold to affirm still very bullish meomentum.
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If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #3,835
  • Jul 14, 2024 3:14pm Jul 14, 2024 3:14pm
Euro Outlook: EUR/USD

EUR/USD may attempt to test the June high (1.0916) ahead of the European Central Bank (ECB) interest rate decision as it extends the advance following the slowdown in the US Consumer Price Index (CPI).

Euro Forecast: EUR/USD Eyes June High Ahead of ECB Rate Decision
EUR/USD seems to be unfazed by the rise in the US Producer Price Index (PPI) as it climbs to a fresh monthly high (1.0909), and it remains to be seen if the Federal Reserve will switch gears later this year as the core PPI climbs to 3.0% in June from 2.6% per annum the month prior.
The rise in in factory-gate prices may push the Federal Open Market Committee (FOMC) to further combat inflation as Chairman Jerome Powell endorses data-dependent approach in front of US lawmakers, but Fed officials may continue to adjust the forward guidance for monetary policy as the central bank ‘projects that the appropriate level of the federal funds rate will be 5.1 percent at the end of this year.’
Join David Song for the Weekly Fundamental Market Outlook webinar. David provides a market overview and takes questions in real-time. Register Here
As a result, speculation for a looming Fed rate-cut may keep EUR/USD afloat ahead of the next interest rate decision on July 31, and the exchange rate may continue to carve a series of higher highs and lows going into the ECB meeting as the Governing Council is expected to retain the current policy.

  1. EUR/USD approaches the June high (1.0916) as it stages a three-day rally, with a breach above the 1.0940 (50% Fibonacci retracement) to 1.0960 (61.8% Fibonacci retracement) region bringing the March high (1.0981) on the radar.
  2. A further advance in EUR/USD may continue to push the Relative Strength Index (RSI) towards overbought territory, with the next area of interest comes in around the January high (1.1046).
  3. However, the recent series of higher highs and lows in EUR/USD may unravel if it struggles to hold above the 1.0860 (50% Fibonacci retracement) to 1.0880 (23.6% Fibonacci extension) region, with a move below 1.0770 (38.2% Fibonacci retracement) opening up the monthly low (1.0710).


--- Written by David Song, Strategist
Forex.com

If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #3,836
  • Jul 14, 2024 4:02pm Jul 14, 2024 4:02pm
gap down


and Japanese markets are closed
I'll Sell when price is heading to Hell
  • #3,837
  • Jul 14, 2024 4:26pm Jul 14, 2024 4:26pm
Quoting AmDrafax
The MACD has a divergence. Could this mean that a correction or reversal is coming? {image}
The market gave me a perfect downward trade.
I hope you have a happy, full and successful start to the week.
GOOD LUCK GUYS!!!
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  • #3,838
  • Jul 14, 2024 4:29pm Jul 14, 2024 4:29pm
Does anyone else chart candle go missing? It's been doing this for me for 3 weeks lol
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If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #3,839
  • Jul 14, 2024 4:46pm Jul 14, 2024 4:46pm
Quoting HiKe945ReDX
ahh man, what a wholesome thread this is, Nice knowing you guys. here's is my opinion... although we are in a bullish bias for a weakening USD but, we are in a tight range with resistance at 1.09100-1.09120 and support as 1.0900, to push further and to ease all sorts of technical divergence and overbought extremes, we will have a retracement to like 1.0880 level so if such retracement occurs, we need to see the price action, if we reach 1.0880 support with long red volume candles, then know that, 1.0880 won't hold much, if price drops fast then...
as forecasted, gap formed lol
  • #3,840
  • Jul 14, 2024 4:47pm Jul 14, 2024 4:47pm
Quoting Fxgfitking
Does anyone else chart candle go missing? It's been doing this for me for 3 weeks lol {image}
Thats weird. Doesn't do that to me.
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