EURUSD only

my Prediction Yesterday

I'm sticking to my plan. I'll sell this pullback. For London, I hope it will be bearish and reach the daily resistance marked with my black line. Good luck to both bulls and bears!

Days are idle and slow...so.. M5 it is:

I have 2 scenarios in mind:

1. Scenario 1: is what I am currently choosing to operate with: As long as candles are above 1.1638, I stay bullish! Simple!
2. Scenario 2: -IF- I see candles closing below the median line (i.e. roughly below 1.1638), I could switch to selling upcoming spikes...
3. One thing for sure: I go step by step and I never rush!

Happy trading day folks

Done and Dusted..

1/1

Just closed here and done for the week!

See ya next week guys! Happy trading!

Question, not a fan of trendlines but if it works, hey good for you mate!

Do you also look at DXY for your analysis or reply purely on levels on the chart of EURUSD?

Until end of December, I have 1.1650/70 area as critical resistance on WEEKLY... Please keep that in mind whenever buying at these highs!

I personally prefer to take profit the closer we get to 1.1650.... For example, I am on sidelines now... FYI...

It is currently quite overbought, in some cases even strongly and extremely, which makes a pullback likely. The first targets would be 1.1635 and 1.1629. There is also a possibility that 1.1615-10 could be reached again.

FALSE break - complete!

WB, nice to see you!

I have been sitting on the sidelines for a few months now. My strategy is vastly different to Ata’s yet we align frequently on key levels, which I find so very interesting. I have been using Ata to verify my interpretation of the charts and have been using it as a confluence to double check my bias and targets. Thank you Ata for showing up consistently every day, your focus and for keeping this thread topic specific.

I wanted to step out of the shadows to add my experience with volume. Ata replied to a Atm_x comment that volume doesn’t matter and does not specify direction. I have studied, observed and implemented volume as a final confluence for more than 2 years. Volume absolutely matters. Here is my input:

The fundamentals:
Volume represents order execution.
High volume = order execution = liquidity.
Low volume = diminishing execution = hunting.

Temporary vs sustained:
If volume increases at a level and reverses the move is temporary. Opposing order flow triggered.
If volume increases at a level but continues the move is sustained. Price will continue in it’s direction.

The caveat:
Volume is broker specific. Unlike futures which aggregates all price and volume, brokers indicate volume based on their client orders. If a broker has 100 clients volume will be volatile, while a broker with 1M clients will be smooth and reliable. It can take time to find a broker that is reliable. I use Pepperstone for volume and forex . com for my chart.
Volume will increase at market open and new events. It takes time to consider the volume increase at these events and keep it relative.

The application:
Volume declining as price is moving indicates a continued trend. The algorithm is working price to the next POI to find “x” volume of orders to satisfy a defined limit for the algorithm to trigger and seek the opposing orders. This is order flow and volume confirms this. If price is working to a level and volume increases at a POI (especially a HTF POI) that is the broker indicating that a high number of orders have executed and if “x” is satisfied the algorithm will trigger a reaction and order flow continues in the opposing direction. If price is working to a level and volume does not react, or if the high/low of structure is not the highest volume candle, then "x" is not satisfied therefore the algorithm will continue in the direction until "x" is satisfied. That can indicate a structurally weak high/low and it will be likely be broken.

The example:
Using the 4H TF example here is what volume is indicating. This is a good TF because price is currently printing HL/LH and volume indicates where the orders are executing and shows the hands of the algorithm and therefore institutional trading.

I hope this is received well and creates reconsideration into the value of volume in trading. It is the clue that cannot be hidden by brokers and institutional traders.

Hello everyone! The resistance level at 0.1652 on the EURUSD pair proved quite strong, pushing the price down for the second time. I'm considering selling from this level, with the primary target being the support level at 1.1607.

I sold at 1.1645 and just set the stop to break-even. Let's see if it works out. If it drops, I'll let it run; otherwise, I'll try selling higher again.

Short tonight at 1.16450, sl at 1.16507, tp at 1.16308, tp2(smaller second position) at 1.16148

Okay, I just got stopped out, so it looks like they want to push it a bit higher, even though the air is getting pretty thin. I'll wait and watch, even if it starts to fall again. There might still be one last push up. We'll have to see how far they can drive it.

While some are already selling, just keep in mind that bulls are still actively trying to break above W1-D1 resistance....

Either a strong bounce down or an explosion up... Don't get caught in a new bullish rally!

I completely agree with you and see that possibility as well, which is why tight stops should be set if someone wants to sell now. I’m not playing long because some of the indicators are already way too overheated. So I’d rather wait. And even though it's already somewhat overbought, it could still easily rise to 1.17 because markets can stay overbought for longer than you'd think. Just my two cents.

30 Mins chart - looks like it is gonna break out upside

Genius