pixi

Hike or not Hike, that's the question

FX:EURUSD   Euro Fx/U.S. Dollar
Here 2 patterns projection for "anticipate" the Fed announcement about the rates.

If market is reacting logically (that's not always the case), and if price reaches one or the other PRZ:

Fed's rate hike: Eurus should be bearish
Pattern : Gartley bearish

No change: Eurus should be bullish
Pattern : Bat Bullish

Just an idea, not a trade for the moment.
Preference goes to Bearish Gartley .

Note : likely bullish gartley pattern for USDollar            
The pattern which anticipates the Fed
FreshOilTrader
2 months ago
Pixi, thank you for your idea. Do you think rate hike will make Gold falling or not?
Reply
pixi FreshOilTrader
2 months ago
hi FreshOilTrader,

As i said, if market is reacting logically, yes, gold should fall (like any pair in USD, imho)
But remember, in december 2015 when the first rate hike was decided, gold took 30% upward. Logic ? not really.

So, i don't care if hike or not hike.
In my chart you could invert "HIKE" and "NO hike" because i'm a "fibo/harmonic" trader and not a Fundamental trader.
But, in all cases, this event could be a good opportunity for any kind of reversal (up or down)
Reply
FreshOilTrader pixi
2 months ago
Thank you, Pixi! I see your market understanding is really deep. Excellent feeling of future moving. I fully agree with you that such oftern movements is really unlogical. Will see. I would like also to show you my trading plan. https://goo.gl/khcP39
Reply
pixi FreshOilTrader
2 months ago
You're welcome.
Regarding your trading plan, preference goes to your dashed orange line ;). Nice. (i have 1275$ for a likely bottom in short term )
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FreshOilTrader pixi
2 months ago
Pixi, there is such DSI (Daily Sentiment Index) which is good indicator sometimes as is shows crowd behavior. As I know it is just 20-25% Bulls now in a crowd, the reason to be super carefully with the shorts.
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tolanir PRO
2 months ago
Wonderful insight and idea. Thank you
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pixi tolanir
2 months ago
you're welcome
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Abdullah76
2 months ago
You mean EUR USD will be for sell from now on
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pixi Abdullah76
2 months ago
Hi abdullah76, NO, i don't mean sell or buy from now. This setup is not a yet an entry trade, i have to wait if price will go to one or other PRZ (Potential Reversal Zone) and see any Price Action before changing this idea in active trade.
So patience...
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Abdullah76 pixi
2 months ago
Thanks alot
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