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EURUSD only

  • #202,021
  • Oct 4, 2024 7:57am Oct 4, 2024 7:57am
Go bears go... The big void is waiting for you!
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Focus only on what truly matters!
  • #202,022
  • Oct 4, 2024 7:59am Oct 4, 2024 7:59am
Quoting vinesh1
{quote} Possibly have to wait till we get to 1.098 before going to previous highs. hope it happens before though.
we have reached may go beyond. My ultimate target is 1.07. May not happen this time around. Let's see
  • #202,023
  • Oct 4, 2024 8:30am Oct 4, 2024 8:30am
Quoting vinesh1
{quote} this train is headed to take out lows of Sept before a temp bounce to make lower high. Then to 1.07. Forget about all the little supports in the middle. Just a thought.
Exactly, you were spot on. When traders have put their money in the opposite direction of what the market is really showing, they get married with the wrong idea and start seeing imaginary supports that are simply pauses while the market is awaiting for Europe and NY daily openings, or news events like the one we had today.

The market can only have one trend at the time and there is no such thing as bulls vs bears because the market simply does not give any importance to it.
Best time to plant a tree was 20 years ago, second best is now
  • #202,024
  • Edited 9:25am Oct 4, 2024 8:49am | Edited 9:25am
Quoting horuxito
{quote} Exactly, you were spot on. When traders have put their money in the opposite direction of what the market is really showing, they get married with the wrong idea and start seeing imaginary supports that are simply pauses while the market is awaiting for Europe and NY daily openings, or news events like the one we had today. The market can only have one trend at the time and there is no such thing as bulls vs bears because the market simply does not give any importance to it.
support and resistance are liquidity magnets. double top double bottoms are all liquidity magnets. If u see one u will notice market will always breach them and resume their original trend. Have to take big picture in context.. back to Euro/Usd. We will probably see 2-3 more weeks of up down movement with each down movement taking out previous weeks low by a littme before starting going up again. A doji last week and close below last week close today will confirm more down I think. Grain of salt please.
  • #202,025
  • Oct 4, 2024 9:04am Oct 4, 2024 9:04am
Quick Weekly Outlook

Jokes aside, soon we could be back in my shenanigans zone because market rarely goes straight down or up... Patience!

1.0975 area is key on this timeframe! As long as above, we can expect choppiness!
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  • #202,026
  • Oct 4, 2024 10:49am Oct 4, 2024 10:49am
I'm selling until 1.0920...it's been choppy, but the downward trend is consistent. It might bite me at the next weekly support zone of 1.094, but I'll wait and see.
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  • #202,027
  • Oct 4, 2024 12:42pm Oct 4, 2024 12:42pm
Quoting horuxito
{quote} Exactly, you were spot on. When traders have put their money in the opposite direction of what the market is really showing, they get married with the wrong idea and start seeing imaginary supports that are simply pauses while the market is awaiting for Europe and NY daily openings, or news events like the one we had today. The market can only have one trend at the time and there is no such thing as bulls vs bears because the market simply does not give any importance to it.
Must be written in stone. Best reply for long time.
Perfection is the enemy of good enough!
  • #202,028
  • Oct 4, 2024 12:51pm Oct 4, 2024 12:51pm
Quoting Ybnba
EUR/USD is going to sell I think when NFP news comes out
  • #202,029
  • Oct 4, 2024 1:14pm Oct 4, 2024 1:14pm
Quoting Ata-Turkoglu
Quick Weekly Outlook Jokes aside, soon we could be back in my shenanigans zone because market rarely goes straight down or up... Patience! 1.0975 area is key on this timeframe! As long as above, we can expect choppiness! {image}
Possibility is high. Look at the DXY, he is in the daily high above the upper Boellinger Band. Actually, the last time when that happened (it was end February 23) the DXY pulled back sharply into the band. The DXY has done this all the time in the past 2 years (when he went out of the Boellinger Band). That means we should see 1.10 again on Monday/Tuesday.

Btw Ata, since I am back after a while I noticed your thread looks so decent now... did you had a clean out?
  • #202,030
  • Oct 4, 2024 3:15pm Oct 4, 2024 3:15pm
Quoting zippo22
{quote} Possibility is high. Look at the DXY, he is in the daily high above the upper Boellinger Band. Actually, the last time when that happened (it was end February 23) the DXY pulled back sharply into the band. The DXY has done this all the time in the past 2 years (when he went out of the Boellinger Band). That means we should see 1.10 again on Monday/Tuesday. Btw Ata, since I am back after a while I noticed your thread looks so decent now... did you had a clean out?
In the era of AI, just like everything, clean outs are also getting automatic..

Best wishes
Focus only on what truly matters!
  • #202,031
  • Oct 5, 2024 2:10am Oct 5, 2024 2:10am
Weekly Outlook (Remastered )

  1. Overall, we can see a huge sideways channel forming.
  2. If bears face no pressure from bulls, the course is probably set towards ~1.0795 area (median line of channel)
  3. However, if bulls come back to try one more time, the chart can form a crown around the upper edge of the channel, and then we must wait and see if bulls succeed to break out. Therefore, ~1.1180 area is still highly crucial resistance area.
  4. Overall, the long-term trend is still bullish based on MACD.

That's all... Enjoy your weekends

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  • #202,032
  • Edited 4:23am Oct 5, 2024 3:18am | Edited 4:23am
Quoting Ata-Turkoglu
{quote} In the era of AI, just like everything, clean outs are also getting automatic.. Best wishes
Thanks Ata, I am getting slowly back here to the FF crowd after a long hide out. As already said, I noticed that your thread got a bit more focused, but nice to see that some old swashbucklers are still on board.

Anyhow, I see from your chart above the pair touched the green line. So, for the first three days of next week we have little (scheduled) news – the market might trade technically. Later on Thursday, CPI will be a mover again.
But when I looked to the DXY for confirmations I saw we have a significant Boellinger Band (BB) overshoot... and they often trigger an intermediate return to the centerline (or close to it). Also, we had five (5) full body green candles. Someone has to go long back to find the same and that type of overshoot. Hence, a tactical retrace is quite possible.

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For the DXY that would be potentially a bounce of the 101.80 line – approx. 75DXY pips. If there is no abnormal shift between the pairs that would translate to approx. 95-100 EUR pips. That brings us to +-1.1066/80 which is what you mentioned.

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At that time CPI might come into play from where it can go in both directions. I am not a believer in lower cost of living… but hey, economical numbers are a mess recently. Also we are getting close to election and uncertainty is a USD driver. So, I feel we could go for the centerline of Ata’s channel first or even touching the void - until or close after the election.
After that, I have no doubt in Ata’s projection to new heights. Whoever wins, he needs to turn on the printer either to finance their socialist experiment or to make America great again.
  • #202,033
  • Oct 5, 2024 5:51am Oct 5, 2024 5:51am
Quoting zippo22
{quote} Thanks Ata, I am getting slowly back here to the FF crowd after a long hide out. As already said, I noticed that your thread got a bit more focused, but nice to see that some old swashbucklers are still on board. Anyhow, I see from your chart above the pair touched the green line. So, for the first three days of next week we have little (scheduled) news – the market might trade technically. Later on Thursday, CPI will be a mover again. But when I looked to the DXY for confirmations I saw we have a significant Boellinger Band (BB) overshoot......
Thanks for the detailed analysis brother. I appreciate the effort and I took some notes from it.

Best wishes
Focus only on what truly matters!
  • #202,034
  • Oct 5, 2024 7:39am Oct 5, 2024 7:39am
Quick H1 Outlook

  1. For Monday, first I want to see how strong MACD divergence pushes price up.
  2. Eventually this correction will end and we hopefully can rinse and repeat selling based on the latest trendline break out. No rush!
  3. For now, I can not draw a trendline because the ascending angle for the supportive trendline is not clear. I therefore will check again after Monday's London opening.

My two cents...

Keep enjoying your weekends...

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  • #202,035
  • Oct 5, 2024 8:38am Oct 5, 2024 8:38am
Happy weekend all traders, failure is not a reason to give up, there will still be tomorrow morning with sunshine after the night has gone. Hope is always there.
I trade at FXOpen
  • #202,036
  • Oct 6, 2024 5:10am Oct 6, 2024 5:10am
Quoting andvk74
{image}
Hello,
looks like this scenario is in play and bounce will come from 1.088 area which was hard level in the past
  • #202,037
  • Oct 6, 2024 6:24am Oct 6, 2024 6:24am
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  • #202,038
  • Oct 6, 2024 9:09pm Oct 6, 2024 9:09pm
Some Australian banks are closed today and banks in China are also closed, perhaps the market is sluggish. See EURUSD on H4 there is a death cross signal from the MA 50 trying to cross the MA 200. However, the RSI shows the price is in the oversold zone.
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I trade at FXOpen
  • #202,039
  • Oct 7, 2024 1:23am Oct 7, 2024 1:23am
Meanwhile, on H1...

  1. No new breakout yet. Market is idle and I am waiting for London opening.

Happy new trading week to all

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  • #202,040
  • Oct 7, 2024 3:57am Oct 7, 2024 3:57am
Quoting Ata-Turkoglu
Meanwhile, on H1... No new breakout yet. Market is idle and I am waiting for London opening. Happy new trading week to all {image}
if this support is broken where it can find its next support ?
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