EURUSD
As I had updated here at night, that I'm anticipating a range here above 900.
I'm short since the morning at the break of the LO range.
Frankie broke to upside but directly at the 945 level, which was the LO from Tuesday. LO did not follow through, we had this mini range, marked with circle. I took it at the break of the range & added another at 09309.
Both are at BE now because we are near end of the session & not getting further follow through.
I will hold it for the NY session, my position on this trade is lower than my average.
Update: I've closed my first position now. The BE for the second entry (which I had added) was hit.
Don't have any active position now.
The DXY target level of 102.20x that I mentioned was hit yesterday & we had a solid bounce off of it to 103.20x (around yesterday's high).
I missed the up move on DXY entirely. It was at my level, but I could not get in at the LO today.
My guess is that we will range here. Previously as well, we had lot of chop in this region of you look to the left on my chart.
Update on this: The levels 102.2x & 104 are important. I don't have any bias, but I think we could range here.
The break below 104 looks important. But is we are to go above it again, that would be significant.
For now, I'll be looking to trade between these levels, close to the edges, and wait for some PA during London Open.
Update: I've closed my first position now. The BE for the second entry (which I had added) was hit.
Don't have any active position now.
I tried a long at 8987 (900 level) at 5M Bullish engulfing, but my small SL below that 5M was hit on that entry.
I'm now down for the day because I took a bigger long than my earlier short.
In hindsight, I could have moved the SL to BE after the first 5M candle move & probably should have given the news bar momentum.
I broke my rules there on this entry to begin with (it was pure discretion & level based PA), I don't think it was good.
These are the important zones I'm looking at: 0870-880. Then the 0940 zone & 1.1000.
For buy 870-80 will be important.
I'll wait for price reaction around these levels. If we are in between, I'll wait on the side most likely if there is no PA.
These are the important zones I'm looking at: 0870-880. Then the 0940 zone & 1.1000.
For buy 870-80 will be important.
I'll wait for price reaction around these levels. If we are in between, I'll wait on the side most likely if there is no PA.
We are still in this range. For any major position, I'm waiting for these levels I mentioned.
I took the day off today from trading & worked on other stuff.
I sort of expected a small range today when we were in between, generally because EUR/USD does that after big 2-3 days move in one direction.
If you look to the left on my previous chart you will see that, 5-6 days (London & NY sessions) out of 10 are small ranges.
Then we get a break, mostly on some data release.
Although I would add that I am wrong on this quite a bit, so no edge there. Maybe it is just a reason I made up to not trade today, which I think was right if the mindset going in is not right.
There was one good trade today at the edge for those who took it at the false break of the Asian during LO & fall back to the low. Good for you.
I'll see you next week. Happy Weekend.
I'm Long from 174, which is near the Franky low for today.
Clearing this high on 1M is important. Otherwise the down momentum looks like it will continue, if the low breaks.
Stop at BE was hit. I've re-entered again at the low.
Clearing this high on 1M is important. Otherwise the down momentum looks like it will continue, if the low breaks.
Stop at BE was hit. I've re-entered again at the low.
My second entry is now at BE 173 because if we move lower again from here on lower TF, it could just move though the low this time.
My second entry is now at BE 173 because if we move lower again from here on lower TF, it could just move though the low this time.
Still in the position, BE was missed by .1, the low at 174.
Now I'm waiting for reaction around the London high & 30s level.
Still in the position, BE was missed by .1, the low at 174.
Now I'm waiting for reaction around the London high & 30s level.
I'm out of the position at 9219. I was not looking for this reaction on the 5M at the Asian high.
I'm out of the position at 9219. I was not looking for this reaction on the 5M at the Asian high.
We are still trading inside this 30M & not able to break it.
I may or may not break & I could be wrong in my decision. But I don't like the PA here, so I've closed the position.
Weekly Outlook for EURUSD:
Sideways till we get direction from the US data mainly CPI and PPI.
We are still trading above the 0900 area, the 0870 support from last week caused a bounce but we are somehow not following through with strong momentum on that upside.
Watching the chart there is range visible on the chart that is 0900-0930. So we should trade the edges of this range.
Buyers should try to buy the lows close to 0900 if the london session opens there and makes it support, until then we are going to remain in watch mode and wait for the breakout of 930, that would lead 0981 are once again.
Strong buying should happen after clear break of 930 and strong selling only if 0900 break decisively in volatile sessions.
Attached 1st chart is same from last week the levels have not changed
Attached 2nd chart is visualizing a range, ofcourse it is not perfect but you can get the picture that we are stuck.
Weekly Outlook for EURUSD:
Sideways till we get direction from the US data mainly CPI and PPI.
We are still trading above the 0900 area, the 0870 support from last week caused a bounce but we are somehow not following through with strong momentum on that upside.
Watching the chart there is range visible on the chart that is 0900-0930. So we should trade the edges of this range.
Buyers should try to buy the lows close to 0900 if the london session opens there and makes it support, until then we are going to remain in watch mode and wait for the breakout of 930, that would lead 0981 are once again.
Strong buying should happen after clear break of 930 and strong selling only if 0900 break decisively in volatile sessions.
Attached 1st chart is same from last week the levels have not changed
Attached 2nd chart is visualizing a range, ofcourse it is not perfect but you can get the picture that we are stuck.
Took a small scalp long , i would not advise that since you must always trade the edges.
scalp also as the time is late and london bar did not attempt a breakout so killed it as soon as it reached around the highs and slowed down.
Took a small scalp long , i would not advise that since you must always trade the edges.
scalp also as the time is late and london bar did not attempt a breakout so killed it as soon as it reached around the highs and slowed down.
Reasoning:
The price was touching the frankfurt lows and the 5 min bear bar did not get follow through instead picked up immediately went long on that sign.
Reasoning:
The price was touching the frankfurt lows and the 5 min bear bar did not get follow through instead picked up immediately went long on that sign.
Yes, this was a low risk trade today, double test of the Franky low, even if it did not hold.
But I did not press it till the London high like you did.
Right now, I am flat & I will not do much here late in London. We could just range here till the news tomorrow.
Okay, what about posting market speculations or signals, can we post those?
Okay, what about posting market speculations or signals, can we post those?
Hello Mctursh. You can post your analysis on EURUSD, or any trades you are taking. I also actively do that here.
I post my trades in real time here. If you are a real trader, you are welcome to post your trades & market analysis.
What is not allowed is selling any course or promoting any service.
These are the important zones I'm looking at: 0870-880. Then the 0940 zone & 1.1000.
For buy 870-80 will be important.
I'll wait for price reaction around these levels. If we are in between, I'll wait on the side most likely if there is no PA.
We have very important Economic data coming on Tuesday, Wednesday & Thursday from US.
These will mostly the direction of the next move on USD. Generally, before these events you get lots of sideways action like today.
So, I was trading for the range today, it worked out alright today (it doesn't always).
Still these levels are important to watch out for. A break & strong close above or below would be meaningful. It is possible that we spike the levels on both sides before a direction is confirmed.
First a close below 900 is required for downside, then 087x. On upside there is 940x, 975. Attached 12H chart of EURUSD.
We have very important Economic data coming on Tuesday, Wednesday & Thursday from US.
These will mostly the direction of the next move on USD. Generally, before these events you get lots of sideways action like today.
So, I was trading for the range today, it worked out alright today (it doesn't always).
Still these levels are important to watch out for. A break & strong close above or below would be meaningful. It is possible that we spike the levels on both sides before a direction is confirmed.
First a close below 900 is required for downside, then 087x. On upside there is 940x, 975. Attached 12H chart of EURUSD.
I think one possible scenario for the week is range b/w 1.10 & 870/900, I mean we trade inside the last week's high & lows, and test the edges, before breaking to one side.
I try to visualize this for the weekly, and consider the possibilities or some bias before the session, because it helps me to be prepared in case of an unexpected move to one side, then you have some plan than be caught off-guard on risk.
It may not work for everyone.
