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EURUSD only

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#207,941
Apr 17, 2025 12:25am Apr 17, 2025 12:25am

Matts Micro
Joined Aug 2011 | Status: Trader | 4,956 Posts

This is my RSC trade plan today.

I think I see the bears on a longer term- 4hr/daily correction. Yesterday I saw many bear signals like they are loading up but the bulls lacked any strength in that they had the potential for a great BO but failed.

I see a bear signal on the daily candles but on my system the market can take a while to catch up with a potential new HH, other times it's reactionary. I think today it could be reactionary.

Currently long (tight stop). If we go strait down from here for a new 5m LL then imo it will be very good outlook for the bears coming on board.

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As the lights go by so too do the shadows move

#207,942
Edited 1:12am Apr 17, 2025 12:40am | Edited 1:12am

Depipmaster
| Joined Apr 2025 | Status: Trader | 54 Posts

Quoting Depipmaster

Disliked

{quote} Hope some of you guys got into the immediate pullback at the top. I myself had to reintroduce my SL after I had broken even. Anyway, it turned out to be a test of the main supply zone, leading to a successful follow-through. I'll try to stick to the game plan. But it's FX and anything can happen, so, I'll be monitoring the price action and assessing the impact of any high-impact news events that might take place May the pips be with you.. {image}

Ignored

On Wednesday, we had Powell's speech, but I had dismissed the event as high impact. The guy had repeatedly made it clear several times in the recent past that the FED won't intervene due to fears of inflation, and that they'll be data-driven. And that's what he reiterated yesterday. i.e,

"U.S. Federal Reserve Chair Jerome Powell said on Wednesday the Fed would wait for more data on the economy's direction before changing interest rates, but cautioned that President Donald Trump's tariff policies risked pushing inflation and employment further from the central bank's goals."
and,
Asked if there is a "Fed put" where the central bank would step in if markets plummet, Powell said "no," while offering an explanation.
"Markets are struggling with a lot of uncertainty and that means volatility. But having said that, markets are functioning...They're orderly and they're functioning just about as you would expect them to function."

Elsewhere, Trump jumped into negotiations with Japan. And I count that as progress, at least he is not on the highlight with some new Tariffs. I.e,
"When the bar is low, even talks about talks can lift markets as investors rotate from fear to hope."

All of these should broadly support the dollar( rates higher for longer and a rather mellow Trump) and subdue EUR/USD, at least in the short term.

#207,943
Apr 17, 2025 12:41am Apr 17, 2025 12:41am

DMA Trader
Joined Nov 2008 | Status: Full Time Trader | 10,867 Posts

The markets seem fairly stable, so there’s a good chance we’ll see a test of the lower end of the range at 1.127.
Anyway, I think we could drop further, maybe even to 1.12.
Gl.

Rule No.1: Never lose money. Rule No.2: Market is always right !

S&P 500 WTI/USD

#207,944
Apr 17, 2025 1:01am Apr 17, 2025 1:01am

Mitiblotch
Joined Sep 2017 | Status: Trader | 11,215 Posts | Online Now

Quoting DMA Trader

Disliked

The markets seem fairly stable, so there’s a good chance we’ll see a test of the lower end of the range at 1.127. Anyway, I think we could drop further, maybe even to 1.12. Gl.

Ignored

I set my TP to 1.1148 and left it. Price can do what ever it wants. I cannot figure this one-way rise without giving good price to get in. I have been buying and buying but that's enough for now.

#207,945
Apr 17, 2025 1:01am Apr 17, 2025 1:01am

Depipmaster
| Joined Apr 2025 | Status: Trader | 54 Posts

Quoting Depipmaster

Disliked

{quote} On Wednesday, we had Powell's speech, but I had dismissed the event as high impact. The guy had repeatedly made it clear several times in the recent past that the FED won't intervene due to fears of inflation, and that they'll be data-driven. And that's what he reiterated yesterday. i.e, "U.S. Federal Reserve Chair Jerome Powell said on Wednesday the Fed would wait for more data on the economy's direction before changing interest rates, but cautioned that President Donald Trump's tariff policies risked pushing inflation and employment further...

Ignored

Almost forgot, we have the ECB likely cutting rates today. Extra catalyst for the bears. i.e,
The ECB is widely expected to cut interest rates by 25 basis points to 2.25%, the third reduction this year, amid growing concerns over the region’s darkening economic outlook due to US tariffs.
Guys, fundamental awareness is key as price moves to the path of least resistance based on the prevailing sentiment of the moment.

#207,946
Apr 17, 2025 1:17am Apr 17, 2025 1:17am

andvk74
Joined Jun 2018 | Status: Trader | 3,083 Posts

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#207,947
Apr 17, 2025 1:32am Apr 17, 2025 1:32am

Matts Micro
Joined Aug 2011 | Status: Trader | 4,956 Posts

Quoting Matts Micro

Disliked

This is my RSC trade plan today. I think I see the bears on a longer term- 4hr/daily correction. Yesterday I saw many bear signals like they are loading up but the bulls lacked any strength in that they had the potential for a great BO but failed. I see a bear signal on the daily candles but on my system the market can take a while to catch up with a potential new HH, other times it's reactionary. I think today it could be reactionary. Currently long (tight stop). If we go strait down from here for a new 5m LL then imo it will be very good outlook...

Ignored

Trade dropped and flipped I may add to position if we have correction.

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I'm too "dumb" for the fundies

. Aside from the obvious interest rates etc and general confidence in the market I feel like there are too many backroom conversations behind closed doors to keep up with- someone said something, good news down and bad news.. well anywhere. I will just keep jumping on the coattails of the smart money in my TA

As the lights go by so too do the shadows move

#207,948
Apr 17, 2025 1:32am Apr 17, 2025 1:32am

Ata-Turkoglu
Joined May 2014 | Status: Full Time Trader | 27,098 Posts | Online Now

Meanwhile, on H4...

No significant breakout yet.. only drifting sideways in the highest candle shadows... ~1.1319 area is still my nearest support on this timeframe...

Happy trading day to all

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Focus only on what truly matters!

#207,949
Edited 2:01am Apr 17, 2025 1:47am | Edited 2:01am

MAS13RF0REX
| Membership Revoked | Joined Apr 2025 | 54 Posts

Quoting MAS13RF0REX

Disliked

{quote} We are on our way

Ignored

We are still on our way. I expect fireworks in the evening and some motion to the quote and the trade.
Currently I am still holding bullish with absolute target 1.14415 [Adjusted to take in account swap] and 1.15000 in extension.
Only the Sl has been adjusted and upgraded to 1.13127 from 1.12876.
Considering Easter holidays there should be some extended moves today.

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Master Forex Trader

#207,950
Apr 17, 2025 2:15am Apr 17, 2025 2:15am

Ata-Turkoglu
Joined May 2014 | Status: Full Time Trader | 27,098 Posts | Online Now

Quick Weekly S/R Levels

The chart speaks for itself... For this week: ~1.1402 area is key!

I hope it helps...

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Focus only on what truly matters!

#207,951
Apr 17, 2025 2:19am Apr 17, 2025 2:19am

andvk74
Joined Jun 2018 | Status: Trader | 3,083 Posts

Too much weight already for this SKINNY thing
Very soon.......................

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#207,952
Apr 17, 2025 2:23am Apr 17, 2025 2:23am

Ata-Turkoglu
Joined May 2014 | Status: Full Time Trader | 27,098 Posts | Online Now

Quoting andvk74

Disliked

Too much weight already for this SKINNY thing Very soon....................... {image} {image}

Ignored

Lol... I don't think gravity has a role in charts but still, cute thinking...

Focus only on what truly matters!

#207,953
Apr 17, 2025 2:36am Apr 17, 2025 2:36am

Ata-Turkoglu
Joined May 2014 | Status: Full Time Trader | 27,098 Posts | Online Now

Meanwhile, on H1...

Here I am spotting my VOID again...

However, for that, candles first need to close below ~1.1315 area.. BUT no signs of bears yet, so we better stay bullish until failure!

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Focus only on what truly matters!

#207,954
Apr 17, 2025 3:19am Apr 17, 2025 3:19am

CanIMakeCash
| Joined Feb 2021 | Status: Trader | 54 Posts

Quoting andvk74

Disliked

Too much weight already for this SKINNY thing Very soon....................... {image} {image}

Ignored

The best TA piece I saw for some years in this Forum!

You Mr. Andvk74.... You're THE KING of TA!

Thank you for making me smile this morning.

#207,955
Apr 17, 2025 3:33am Apr 17, 2025 3:33am

Shanara
| Joined Apr 2023 | Status: Trader | 28 Posts

Maybe the ECB can help on the bearish breakthrough. 1H might look promising.

I personally dont see the dollar moving back up this soon though... Trump wont give in just yet. (On the other hands the past days: whatever was to be expected came like 10 times as quickly as you would.)

Currently waiting if it breaks 1.141 or 1.134ish...

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#207,956
Apr 17, 2025 4:15am Apr 17, 2025 4:15am

Depipmaster
| Joined Apr 2025 | Status: Trader | 54 Posts

~1.1385 level is a logical level for another sell riding the continuation to the downside.
Let's see how it plays out.

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#207,957
Apr 17, 2025 4:32am Apr 17, 2025 4:32am

MAS13RF0REX
| Membership Revoked | Joined Apr 2025 | 54 Posts

Quoting MAS13RF0REX

Disliked

{quote} We are still on our way. I expect fireworks in the evening and some motion to the quote and the trade. Currently I am still holding bullish with absolute target 1.14415 [Adjusted to take in account swap] and 1.15000 in extension. Only the Sl has been adjusted and upgraded to 1.13127 from 1.12876. Considering Easter holidays there should be some extended moves today. {image}

Ignored

This is important piece of news red news and should of course be taken into account. I completely missed it.

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If it dips and doesnt breach 1.13127 I will be adding longs towards the roof to gain a much greater profitable hand. It would be a hefty long then moving to target

Master Forex Trader

#207,958
Apr 17, 2025 4:39am Apr 17, 2025 4:39am

Mitiblotch
Joined Sep 2017 | Status: Trader | 11,215 Posts | Online Now

Quoting Depipmaster

Disliked

~1.1385 level is a logical level for another sell riding the continuation to the downside. Let's see how it plays out. {image}

Ignored

Problem is that this head and shoulders is too obvious. These clowns can decide to fly price all the way up to 1.15. Euro futures keep rallying and that might mean something on EU.

#207,959
Apr 17, 2025 4:46am Apr 17, 2025 4:46am