New Cable Thread & Other Pairs

This is what and where XXXUSD pairings are heading - This next chart shows you GBPUSD from a few months back, but I can assure you EURUSD moves in tandem with GBPUSD for this cycle

The plunge is usually a lot more intense than has happened so far

Ignore everything on the chart bar the vertical lines which show the REPEATING 8 year LOW to LOW cycle

This cycle has a 100% win rate at working, so far, Cycles can and do "Invert" but its getting really late in the day for this to happen now - It still could Invert, but you'd get a very forceful and fast rally spiking upwards, into the cycle date and then it will collapse, If the LOW is going to happen, then price will continue down, until the cycle date and then it will bounce and rally upwards or upwards/sideways bias

The line chart is of the closes, my software converts to a line chart when cramming in lots of data over long periods of time and the screenshot was taken over the summer, so its not up to date price wise



If you look on the chart and notice the time of year these lows typically happen, you'll notice its pretty close to those times

Gold isn't that correlated - it does move in sympathy, but not as good as GBPUSD and EURUSD

hi Andrew

Yes it certainly is.
Market Mind Games - Denise Shull
Fascinating explanation of the emotional/physical component and how it’s absolutely crucial to making high quality decisions. If you think you need to “remove emotion” from your trading, you need to read this book first.

I think I found another good one to read.
GANN has some great trading rules.

The EURUSD pair is trading below the key resistance level of 1.0515.

The downward pressure suggests a potential bearish movement towards the support zone at 1.0460 and 1.0448 - 1.0425.

A break above 1.0515 could signal a bullish reversal, with potential upside targets at 1.0538 and possibly even 1.0546/50.

Green pips!


Daily volatility (range) 80 pips

Significant news - US JOLTS Job Openings

4 hour

The dollar/yen moved well in Tokyo yesterday. I wonder if Tokyo HiLo was decided today? If the short is decided, there is no problem, but even if SL is done, I plan to short again.

In that link you shared yesterday it mentions a Navy SEAL - in the UK we have the SAS - 200-300 military people apply per year and only 4-10 (average) pass the selection process, the mental side is what gets most people binned - giving up, not pushing that little bit more etc, there's a 12 hour+ "Interrogation" , what they do is mess with your head and then just leave you for hours, then mess again, then leave and most people can't handle the dialogue inside their own heads!

Gann's rules are basically the basis of most trading plans - common sense

As long as a trader you use a method that fits your personality you can create everything around that

The biggest aspect of the mental side is just accepting that the laws of probabilities apply and with that you have to have losing trades as part of the game to win - losing trade = oh its one of those losing trades I have to have as part of the game for me to win, I'm one step closer to winning.......etc

EURUSD rose today but failed at 1.0530.

Reasons:

Upbeat US Data: Recent economic data from the US, such as the rise in job openings, has strengthened the US Dollar. However, the impact on the pair pair has been limited.

Investor Sentiment: Investors are currently awaiting further comments from Fed's Powell, which could influence the direction of the US Dollar and, consequently, the EUR/USD pair.

While the pair has seen a small increase today, its overall trend remains within a narrow range, fluctuating around the 1.0500 level.

Support levels: 1.0530, 1.0546, 1.0586

Resistance levels: 1.0480, 1.0461, 1.0448

See you tomorrow again bye!

NZDJPY top of channel , good sells

nice one....missed it

The EUR/USD pair weakened today, dipping below the 1.0500 level after encountering strong resistance near 1.0540. The pair is currently trading around the psychological level.

Immediate support is located at 1.0480. A break below this level could lead to further declines, potentially targeting 1.0460 and 1.0448.

Bulls must defend the current support level and push the pair above yesterday's resistance to regain upward momentum. Potential targets for the upside include 1.0585 and 1.0597.

Green pips!


Daily volatility (range) 80 pips

Option expiries for Wednesday: 1.0400 (EU1.72b), 1.0525 (EU1.34b) Source: financialjuice.com

Significant news - US Factory Orders

1 hour

#2, lets see,

NZDJPY nearing top of channel again m15

Done for today,
Take care,

The EURUSD pair traded slightly higher today, driven by weaker-than-expected US economic data. The ADP Employment Change and ISM Services PMI reports both came in below estimates, weighing on the US dollar. However, gains were limited ahead of a speech by Fed Chair Powell later in the day.

Support: 1.0471, 1.0460, 1.0448

Resistance: 1.0546, 1.0585, 1.0597

It was great trading with you all have a nice rest of the day!

process based decisions with trading bringing 80-90% consistency
Pat Bailouni professional psychology trading coach and trader

GU H4, I wonder if there's enough power to break this pattern, or if we'll go south,

Im thinking down based on the channel and the butterfly....but not game to play it before employmnet news.
Although I think the news is likely to be positive for the dollar. The figure last time was extremely low, even allowing for strikes etc.
So maybe a correction this time......but then D1 Dixy has a classic head and shoulders.....
Pick your poison.

NFP today will come with a surprise! Until then I don't think much movement should happen!

surpise because....?

Don't know! Just a hunch.