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  • #9,961
  • Jan 29, 2025 8:02am Jan 29, 2025 8:02am
Quoting josip
EURUSD H1 trendlines where do u go? my lovely... {image}
Chart is the same!
Stop Procrastinating
  • #9,962
  • Jan 29, 2025 8:24am Jan 29, 2025 8:24am
Quoting ahmerjamil
{quote} Yup if it fails, Then i have next at here, 1.0397, 1.0376!
seems like it got to it, now waiting for the result
  • #9,963
  • Jan 29, 2025 8:44am Jan 29, 2025 8:44am
I thought it would get down to 1.0372, take the previous low, into the fair value gap that lead to the break of the previous highs, and then either stagnate or move back up before FOMC. I'm more surprised EU sold off during the European session with FOMC on the table later today and the chop from yesterday. What caused it to break out of the chop and move down during Europe?
  • #9,964
  • Jan 29, 2025 8:55am Jan 29, 2025 8:55am
Quoting Chicago-Greg
{quote} still going down
give it time and wait
  • #9,965
  • Jan 29, 2025 9:01am Jan 29, 2025 9:01am
looks like a possible wedge in H1 to me
  • #9,966
  • Jan 29, 2025 9:01am Jan 29, 2025 9:01am
I'm still expecting 35 ish but if not then reversal. I don't think sellers are done just yet
It is what it is
  • #9,967
  • Jan 29, 2025 9:02am Jan 29, 2025 9:02am
Quoting unlv_tj
I thought it would get down to 1.0372, take the previous low, into the fair value gap that lead to the break of the previous highs, and then either stagnate or move back up before FOMC. I'm more surprised EU sold off during the European session with FOMC on the table later today and the chop from yesterday. What caused it to break out of the chop and move down during Europe?
the only reason I can think of is stop loss hunting, im thinking it wants to get as many stop losses as possible, possible from traders with late entry so that they get stopped out and then it continues it's upward movement l, might be wrong though
  • #9,968
  • Jan 29, 2025 9:08am Jan 29, 2025 9:08am
Quoting Matthew77
{quote} the only reason I can think of is stop loss hunting, im thinking it wants to get as many stop losses as possible, possible from traders with late entry so that they get stopped out and then it continues it's upward movement l, might be wrong though
yes stop hunting
  • #9,969
  • Jan 29, 2025 9:10am Jan 29, 2025 9:10am
Quoting Matthew77
{quote} the only reason I can think of is stop loss hunting, im thinking it wants to get as many stop losses as possible, possible from traders with late entry so that they get stopped out and then it continues it's upward movement l, might be wrong though
This makes the most sense, FOMC is probably a likely known, but also a liquidity event, meaning that it will not be a surprise, but the big boys will use it to stop hunt and then continue up. And the move down this morning is a start of this stop hunt. I expect a quick move down, maybe even as low as 1.0325 and then a move back up. I don't know if it gets that low, but with FOMC it might bet that low, before a sharp move back up.
  • #9,970
  • Jan 29, 2025 9:25am Jan 29, 2025 9:25am
The move up is good to load selling orders!
Looking for profitable short term trades ...|
  • #9,971
  • Jan 29, 2025 9:36am Jan 29, 2025 9:36am
Quoting Js3mwtRc
The move up is good to load selling orders!
how confident are you, can i trust you
  • #9,972
  • Jan 29, 2025 9:42am Jan 29, 2025 9:42am
Quoting unlv_tj
{quote} This makes the most sense, FOMC is probably a likely known, but also a liquidity event, meaning that it will not be a surprise, but the big boys will use it to stop hunt and then continue up. And the move down this morning is a start of this stop hunt. I expect a quick move down, maybe even as low as 1.0325 and then a move back up. I don't know if it gets that low, but with FOMC it might bet that low, before a sharp move back up.
true, but I fell like the manipulation might not be that much or there might not be any manipulation at all during the FOMC Meetings, sometimes the big boys also play with our ideas, so we thinking there might be a manipulation is what they are targeting probably to stop out the sell orders who will be waiting for the so called manipulation to go in their direction. It's like reverse psychology that is why it's called trading, still I might be wrong anything can happen, time will tell
  • #9,973
  • Jan 29, 2025 9:46am Jan 29, 2025 9:46am
right on the top of the wedge, now lets see
  • #9,974
  • Jan 29, 2025 9:46am Jan 29, 2025 9:46am
Quoting Polimini
{quote} how confident are you, can i trust you
Not so sure, dont put your money at one basket!

Looking at the momentum of that spike up seems it will take a while.
Looking for profitable short term trades ...|
  • #9,975
  • Jan 29, 2025 9:56am Jan 29, 2025 9:56am
Okay, I have absolutely no idea what is going to happen, lol.
  • #9,976
  • Jan 29, 2025 10:06am Jan 29, 2025 10:06am
[quote=unlv_tj;15131908]Okay, I have absolutely no idea what is going to happen, lol.[/quote it's ok to be confused that's trading, but trading is also trying to make sense out of whatever nonsense you see on the chart instead of just giving up, I'm not trying to say that some nonsense aren't actually nonsense as a matter of fact they are the point is not giving up on trying to understand what's going on, when you start to do that you'll begin to learn how to distinguish between the nonsense and those that actually makes sense and probably improve too
  • #9,977
  • Jan 29, 2025 10:09am Jan 29, 2025 10:09am
i guess it was more a channel and not a wedge, glad i closed the long
  • #9,978
  • Jan 29, 2025 10:11am Jan 29, 2025 10:11am
This my plan now. Sell below the trendlines.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_2025-01-29_18-09-54.png Size: 81 KB
Looking for profitable short term trades ...|
  • #9,979
  • Jan 29, 2025 10:15am Jan 29, 2025 10:15am
Quoting Polimini
i guess it was more a channel and not a wedge, glad i closed the long
We still have 45mins left, it's a 1hr candle anything can happen in that 45mins
  • #9,980
  • Jan 29, 2025 10:57am Jan 29, 2025 10:57am
Quoting Js3mwtRc
This my plan now. Sell below the trendlines. {image}
The EURUSD pair dropped to 1.0382 today after failing to break above 1.0445, where it encountered resistance at the morning. Negative news from the Eurozone and discussions about tariffs led to a breach of support, pushing the pair below the key level of 1.0414. Although there has been some recovery, the pair remains bearish but is currently trading within a range.

Without further significant developments, such as news from the FOMC, expect continued uncertainty in its movement.

See you tomorrow again, have a great rest of the day!
Attached Image (click to enlarge)
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