EURUSD

5' --- No position fttb . . . .Watching . . .

BP 5' --- Very close to Taking my Prfts here. . . . ..

BP 5' --- Yea.....and reversed to short here , NOW.

M1, M5 and H4 bearish divergences is what I can see on the quick run. I have closed now my longs and added a short position. I see it as a little bit risky move, but I am prepared to hedge UP when necessary.
That is EUR/USD

Happy trading

1.596 traders now. . . . . WTF is going on . . . ? ? ?

BP H. --- What an overthrow. . . . .! ! !

No position in Euro . FLAT fttb . . . . A new high is possible . ...

JY H. --- How would you like 154.20 . . . .???? Just saying . . .

So, again, price action stayed true to my lines. After breaking out up above the red resistance line around 1.1600 area, no 4 hour candle closed below it, so it became supportive, and now up we go! So, the price has now also broken back above the blue line (bullish trendline) as well.
However, I had my doubts at the time, and so I hedged my longs with equal shorts at 1.1605 area, so I didn't gain any net equity from this bullish rally today.
Now I've closed my longs at 1.1668 area and added another short for TP at 1.16173. Avg position for all shorts is 1.16273, so that TP would give me 10 pips profit each on top of today's profit from longs.
However, I will watch and see how price action behaves around the blue line at 1.1650 area to determine if I will close shorts there and/or hedge with longs.
It is remarkable to watch how the price action seems to respect the trend lines.
You can see how once the price broke out up past the blue line today, it retraced back to the line, but never closed below, so it continued to rise. (See 1 & 4 hour charts).
This type of price action repeatedly shows respect to the rule of once a resistance line is broken, the line starts working the opposite way, as support. And vice versa, from support to resistance. Like a fence or obstacle. It doesn't go away once it's broken through. It continues to behave as a barrier regardless which side the price action is on.
Over my years of watching EUR/USD charts, I have kept seeing this pattern. It seems to me like it's an algorithm that controls this type of price action.
That would be smart money in big banks employing billions of dollars to fund computerized/robotic/AI trading systems to achieve their price goals through systematic price manipulation that's essentially impossible to do directly by humans.
This rule has seemed to be more consistent than most other trading signals.
So, at this point, the red line (previous resistance) at 1.1600 area now continues to act as support. But if it gets broken through and price holds below, then bears may increase pressure to cause it to break down below the next blue line at 1.1500 area. Otherwise, if they fail, that increases the odds of price continuing to rally up to the next red resistance line at 1.2000 area.
(See daily and weekly charts.)

1642 traders now. . . . This is an invasion President Trump. Close the borders ASAP.



5' --- No shorting for me yet. . . . . Patience.

1,764 traders watching now. Glpp and I are the only ones registered. What about you? Maybe 99% of them are bots?

5' --- Longed as shown . . . while keeping my BP shorts. . . .

5' ---- I believe BP has toped out . . . while E. will SOON. . .

5' --- Let me close my longs in E. here. . . .I wanted one more push up . . .but might not come. . . .

So far, EUR/USD price has respected my blue bullish trend line. It is still acting like a barrier. But based on MACD, I'm expecting it to break down through it to anywhere from 1.1635 to 1.1600 area, close to the red line, then we'll see what happens.
Maybe I should make another blue bullish trend line in that area?
Too many lines already.

And now we have a clean 4 hour candle close below the blue line.
Next thing to watch is how price action reacts if it goes back up, does the blue line resist or not? If it resists successfully, then it's likely going down to the red line area. If it breaks out up above the blue line again from here, then it becomes more bullish.
But if price continues down, does the red line support? If so, then more up we go. If it breaks down below the red line and holds below, then it's likely going further down. Let's watch and see.
As you can see, I have a short position at 1.16692 and TP at 1.16191.
I have 2 other shorts in drawdown from around 1.1605 area, so the average short position is 1.16291. Hence my TP at 1.16191 is 10 pips average profit.
I was able to scalp 2 trades, 1 short and 1 long, for roughly 10 pips each.
Have a good trading day!

Hi, folks! Hi, F.G.!
It's December... again
How did you do this year?

I barely did +36% with my 'safe' system and +157% with the risky one ...small, pussy, yeah, but still never blew an account off, ever

Hey, but look at those champs at the FF Leaderboard!

Nice to see you. I wish you successful trading days and continued growth in trading that leads to success

So, last night, I added an additional bullish support trend line (purple) to see if price might react to that. And.... It did!!!
So now let's see what happens, break down below until the red line at 1.1586 - 1.1600 area? Or support at the purple line at 1.1635 - 1.1640 area then higher highs?
I have a long position hedged against my shorts at this point.

Florida is showing cracks like it did in 2007. Florida may be in trouble with high insurance costs, higher taxes, higher HOA fees. The American Dream in Florida looks to be slipping away. Some of it is caused by global warming, like it or not (yeah "global warming is not real", I heard that dumb shit before, and I heard the new dumbshit "man didn't cause it". tell the insurances actuaries this dumbshit), which forces your insurance costs higher. Insurance companies are in business to make money. In some places, insurance has increased in the last decade by 400%.
That, along with the property tax increases and the HOA fees, is crushing people. The higher insurance costs are not only reflected in more powerful storms hitting Florida, but also in the removal or deportation of a lot of construction labor. So now when you get labor, it costs more. Inflation has also caused building materials to rise. And the recent storms have also caused tougher building standards.
All of that together has put people who bought houses in the last two or three years on the edge of losing their homes. They may now owe more than the home is actually worth, because property values normally will depreciate. This will snowball as more and more people become underwater.
When the property you paid, say, $400,000 for is now worth $370,000, on a modest middle-class income that’s a higher percentage of your monthly wages going toward living expenses and housing. Add in the inflation on food and everything else—that puts people underwater and more likely to lose their home or simply walk away from the money pit.
The removed labor from the state—either voluntary or told to leave—also leaves empty spaces that are not rented. In other words, less housing is needed. Pretty much the same signs that started around 2007, last time, before the 2008 housing crisis. Florida is one of those states that may see a reduction in housing values.
Now once these people turn in their keys or lose their homes because they’re unable to pay the notes, these houses all go to banks. The bank keeps a book on these houses, and the banks don’t sell them until after a long legal process of taking the house back, etc., which then allows them to put them back on the market. Usually, even then, the banks hold these houses for years so they don’t flood the market and reduce prices even further.
Meanwhile, these houses sit empty. They’re boarded up, and they become vandalized. The banks have to pay to get the grass cut, pay taxes, HOA fees, and so forth. In other words, it puts a great burden on these banks, and many of them in a saturated local market tend to become insolvent.
At some point, another bank will come in and buy all these houses up from many local banks, and it will be sitting with a large portfolio of hundreds or thousands of houses, or tens of thousands of houses. Meanwhile, these houses are not lived in, and they’re sitting next door to the guy who did everything right, cuts his grass, pays on time. The house the bank owns next door is worth half or less.
This upstanding guy then decides to turn his keys in when he can buy the house next door for half the price.
Anyway, I think you’ll see something like this in the next few months if it accelerates. It would take years to unwind all of this. Meanwhile, more hurricanes will hit, insurance premiums will be higher, and it’s not a good-looking picture.
Have a good weekend. If you think I’m full of shit, do what I did in 2008 on my vacation. I was in Fort Lauderdale. I walked the beach at night and looked at the condominiums and noticed most of them had less than 10 percent of the lights on in the summer, the weekend before the 4th of July. A week or two later, the markets crashed.
If you live in Fort Lauderdale or any beach town, this is not the prime time for that, but if you go walk the beach and you see very few lights on early after dark, beware of what’s coming in the upcoming months. If it takes a year, I’m okay with that too—but it is coming to Florida. Texas, California, Nevada, and Arizona have some cracks too. I didn't include all Gulf, or East coast states.

Although the EURUSD price action on the H4 time frame is presently sideways at the 1.16420 intra-day horizontal support, recent technical prints favour a southward liquidity engineering.

I may be wrong. Trade safe and prosper.

KP

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