What is and what should never be*

This week has been slower, 45 on EU over 2 trades, 1 30 pip TP and one that didn't make it to TP and had to be closed manually for 15, (not even) 20 on UJ and a -20 loss on GU.

last two day's trades I have a lot of trouble sitting thru retracements, instead I like taking anything between 20 and 30 pips and re-enter on a pullback after lunch.

2 more. Lots of breakevens on EU yesterday, not worth showing. I kept shorting it, but it wouldn't reach my target, and then there was a market structure shift that followed calling for an intermediate term uptrend...

Seek and destroy this morning, raiding the retailers' stops along with the smart money

Pink boxes show where I assumed stops were resting. Clear cut levels like these never keep price under for a long time... They always get ravaged.

Also waiting on a euro short. I feel yesterday's low needs to be at least challenged or even taken out. A swing has already been taken out, so I believe we could be bearish today.

From a daily perspective, EU is stuck for now, between 2 important levels - the recent low at 1.1069 and an area of bearish orders around 1.1280.

Nope, nope, nope

edit: I closed the first short for no apparent reason and re-entered at a little bit better price.

Yesterday's low got taken out... Too bad I closed in a panic

Back after a short break

Some EU & GU longs

30+30+31

+50+25

with US retail sales.

High impact news are not all that unpredictable.

There are but a few books written about the markets that are worthwhile. An eye opening Chef d'oeuvre is Larry Williams' Long Term Secrets to Short Term Trading. Therein, the concepts of Daily open and a few more are examined. The moment one realises markets are not that random is the moment that trading starts to become a little bit more profitable.

Same story on fiber.

HIN is merely a volatility injection so price can reach for areas, where liquidity is resting. This explains whipsawing and market reacting with a move down to good news or the other way around.

It has been so long i have seen your post in thread, can you share any weekly analysis on Eur/Usd.?? I am on learning base so love to see more post on the thread about currency pairs, it will be more helpful to us. Thanks.

Sure, I will be glad to share, but I am on holiday right now with nothing but my phone, seeing as this week is over anyways, and I am coming back on Monday, I will post my view of the Major Markets

Okay, so I just got home after a 5 hour trip, I will post a few notes on EU and will elaborate further on them tomorrow morning.

A few things, though - I base my weekly analysis on the daily and H4 charts. I note key levels and keep in mind the longer term trend. Since price action is fractal, there are trends within the trend.

The weekly charts showcase a rangebound/consolidating market, I'd say the euro is capped to the upside at the 1.15 mark, I will therefore denote 1.1460 as a supply area, the pair coming down from being overbought.

With that in mind, Fiber is currently sitting in slight demand, with potential to break lower to 1.1120 as an institutional level. This is further confirmed by the presence of stops below 1.1130. Below that, more support can be found between 1.1025-1.1050.

That's pretty much my first impression and view of fiber, from pure eyeballing. I will do cable and other pairs on request later on, because I am dead tired right now.

Something noteworthy, the markets have no fundamental driver for the first couple of days of this week, with all eyes on NFP this friday. This weekly analysis will be reviewed throughout the week.

Oh and lastly, the dollar index is king when it comes to Fiber & Cable. It's important to analyse it also, especially when trading Fiber, I will add a USDx analysis first thing tomorrow morning.

One thing I want to make clear, I am not planning on giving trade signals nor lure traders into entering the market in any direction.
I am merely showcasing the reasoning behind my trades, for educational purposes, and giving an example of how to frame a trade based on higher timeframe analysis.
Everybody has their own methods in relation to longevity of open positions and signals. Nobody should jump into a trade and follow blindly what I post in here, risking real money.

*** UPDATE ***

So far, the euro is struggling to go lower with a fake lower-low on the intraday charts. Potentially, the pair may go higher and reach for liquidity around the 1.1200 even handle during the day.

The dollar is poised to rally, still. Bullish dollar means bearish foreign currencies (Risk on). I am keeping my bearish bias, staying flat for the time being.

Similar to Fiber, Cable is finding a bit of demand below. 1.3050 is holding so far, a break would allow a test of the RN @ 1.3000, and possibly 1.2920 with payrolls.