EURUSD only

The only retrace am expecting is to around the area 1.16700

H1: no selling while candles stay inside steep bullish channel and keep opening above 1.1683... Bull momentum is still strong.. Only buying!

*1.1670/75 area looks good for next long opportunity...

Took a first short position at 1.1690, 38.2 % retracement done from the down move since 1.1808.

I'm waiting for 1.17 to take a short position

sold here now 1.1692 as resistance sits around here to 1.1710

H1: No selling while candles open above 1.1686...

The first potential target at 1.1680 has been reached, and the second possible target around 1.1700 could still be tagged, as there isn’t much left before this overly aggressive rally starts to correct. It’s extremely rare to see such a dense cluster of resistance levels around a single price area as we currently have around 1.1700. I’d be very surprised if those levels were taken out just like that.

On the short-term timeframes, the market is heavily overbought, and there’s no real foundation for a sustainable move higher. On top of that, the rally is simply too steep and moves like this are never maintainable. If price does push up to 1.1700 over the next few hours and gets rejected there, I think that will likely be it.

Too fast, too steep, too aggressive, and without any real underlying support but that’s just my view. Good luck.

1.1745 is the area that bulls want to reach...

I'm not so sure about that. For me, max high for the week should come in at 1.17109 zone

Ok new H1 candle is a bearish one and it tells me that scalper-selling can work at 1.1686....

*still risky though.. scalp very carefully or wait on sidelines...
*Scalper-sell target sits around 1.1673. For now, buying this level is much better than selling highs...

All the bulls require for the day is a close above 1.16990 n the bullish build up will continue, remember this.
Sellers r being set up for a massive slaughter in the coming days n weeks

Order triggered @ 1.16900 I will be targeting 1.16300. Already up over 10 pips so I will be moving my sl to break even soon enough and see how it goes!

as long as we remain below that big H4 Trendline I remain short.

Set stop on BE at 1.1690, I don't trust it yet.

I will wait on a strong bearish push before setting break even, avoid getting wicked out for nothing pre-ny session.

If it starts pushing against me and breaks & closes above my trendline then I will cut my losses.

but even it it goes to stop loss, it was the original plan so it doesnt matter

sell zone

Well, let's see how the day closes. Keep in mind that London started in a sell zone with little room up and more room down.

I agree with you, Ata, that the bulls’ target could be the 1.1745 area. In principle, I was expecting a rebound and remain more on the bullish side as long as price holds above 1.1635, given how oversold the market was.

That said, this rally from 1.1622 up to today’s high at 1.1696 unfolded within just a few hours, which was not what I anticipated. I was expecting a move spread over several days, with interim pullbacks, a steady, constructive grind higher toward 1.1700 as the first major target, and potentially 1.1730–45 later on.

For the market to continue higher in a healthy way, it now needs to release some pressure first. On the hourly chart, price is already slightly overbought, and a push into the 1.17xx area would put it back into strongly overbought, short term even extremely overbought territory. On the daily chart, conditions are now neutral again, but the speed of this move is the issue; this kind of pace is usually not sustainable.

Either way, price has now created room in both directions again. Ideally, I’d like to see a corrective move back toward 1.1650. That’s also why I’m currently short. This area should serve as a base before any further upside attempt.

If price simply keeps pushing higher and even breaks above 1.1700, I wouldn’t rule out a straight move to 1.1745 within a single day which would honestly be somewhat absurd. Still, given the current overbought conditions, I’m staying sidelined on the long side. I’ll wait to see how far this push extends and would rather look to re-enter shorts at higher levels. This is my plan for today and the next days.

IMHO, those who went long at 1.1684 have chosen the wiser option..

*Scalpers can still risk selling at 1.1693-ish..

... and there are also those who have entered short positions, HandS.