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EURUSD

5 min down channel worked like swiss watch

Quoting stevewalker
shorts
I'd like to see 1,2913 before it's next move.
But if we see a move up to 1,2950 before 1,2913 i'll cancel it as support and head towards 1,2875.
COT: The precious data ignored
My thoughts aubout the EU...

Price is at 1.2922 at the moment and all the Supply levels above this price point have been tested several times. The Demand levels have also been tested, however we do have a demand level at 1.2650 that is Fresh and untested.
So we can expect buy orders there.

However, at this price point we can expect either a break up and if it does break up, price could easily go up to the beginning of the compression around 1.3086, or it could break down and if it does so than the next (unfresh) demand level would be at 1.2816 and at 1. 2750. Again,the next Fresh Demand after that is 1.2650.

I have marked the Supply levels in purple and the rest are Demand levels.
Attached Image (click to enlarge)
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Look for the rally of today. It was hard to reach 1.2960, many bounces. Now don't go long, i'm selling since today's high and is paying off. We may see 1.2880 but i see a continuation (hidden) divergence on daily tf. Let's see for tomorrow.
Work smarter,not harder
query is

are we in a diagonal range or horizantal range?

Quoting @mel
My thoughts aubout the EU...

Price is at 1.2922 at the moment and all the Supply levels above this price point have been tested several times. The Demand levels have also been tested, however we do have a demand level at 1.2650 that is Fresh and untested.
So we can expect buy orders there.

However, at this price point we can expect either a break up and if it does break up, price could easily go up to the beginning of the compression around 1.3086, or it could break down and if it does so than the next (unfresh) demand level would be at...
Yes, 1.2880 is a minor demand level on the 1h , however it has been tested several times already. The buy orders might have been consumed yet.
We'll know if it's the case when price will get back to the level.
bounce over 2880 will give us a up channel

below that level we are in a horizantal range
Yes, you're right! In this retracement i was aiming 1.2750 but then this up moves appeared and changed my mind. Now, i simply even think it will go there, if it goes better, i will buy on the bottom.

Quoting @mel
Yes, 1.2880 is a minor demand level on the 1h , however it has been tested several times already. The buy orders might have been consumed yet.
We'll know if it's the case when price will get back to the level.
Work smarter,not harder
ok
my buy levels starts @ 2910 till 2880

walker.


Quoting stevewalker
bounce over 2880 will give us a up channel

below that level we are in a horizantal range
Nice
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Quoting stevewalker
ok
my buy levels starts @ 2910 till 2880

walker.
i got05/95 for support but 10 is the 61.8 daily fib will bounce from there depending on the strenth of this trend
A man is what he thinks about all day long. - Ralph Waldo Emerson
first long entry done @ 2915

will manage according to the below post

walker.

Quoting stevewalker
ok
my buy levels starts @ 2910 till 2880

walker.
Attached Image (click to enlarge)
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Quoting stevewalker
query is

are we in a diagonal range or horizantal range?
If you wanna to have a black/white answer, I'll say that we are trading in what you guys would call a range since september 24th.
This type of box is created by the Big Money to build some positions.
Within the box you'll see liquidity hunts and what is known as 'false breakout' .
This is done to simply get retail traders in the market, to take stops out and to use this liquidity to get big money new orders filled....
Attached Image (click to enlarge)
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looks like it time for a reaction up off 1.291 back to the downtrend line at 1.292ish
if 1 & 4 hr down channels does not work & 2880 does not support then I am in trouble

Quoting stevewalker
first long entry done @ 2915

will manage according to the below post

walker.
Quoting stevewalker
if 1 & 4 hr down channels does not work & 2880 does not support then I am in trouble
wondering if it slows down due to german bank holiday tomorrow and cny closed all week???
A man is what he thinks about all day long. - Ralph Waldo Emerson
Quoting @mel
If you wanna to have a black/white answer, I'll say that we are trading in what you guys would call a range since september 24th.
This type of box is created by the Big Money to build some positions.
Within the box you'll see liquidity hunts and what is known as 'false breakout' .
This is done to simply get retail traders in the market, to take stops out and to use this liquidity to get big money new orders filled....
Great explanation.
You can remain irrational longer than you can remain solvent.
I am very upset with you. I bought you a drink at the winners circle and you go back to trade without me. I am so happy to see profit has been taking by the longs. To bad I left for so damm long.
He who guess is LOST!
If it close below 2910 then there is a huge chance for 2880 and below
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