Kumowizard
Long

Goldman's call is like Salt N Pepa - watch for swing long

FX:EURUSD   Euro Fx/U.S. Dollar
1015 7 26
Due to Goldman's call, or just because everybody found the Holy Grail, the pair got hammered lower again.

4H:
- Price pushed back below Kijun and trendline again
- they managed to print a lower low, but EWO positive divergence still there!!!
- Heikin Ashi candle again shows undecision: I bet this mkt is too much loaded on EURUSD             short.
- Key reversal levels are a bit lower now: 1,0686 and 1,0715
- I still watch for a swing long signal on 4H time frame.

Everybody is calling parity now. This trade has become too obvious, and maybe a bit crowded. It can still work, and go lower, but from current levels, at current oversold conditions, with so many divergencies for me it makes only "as much sense" as the lyrics from Salt N Pepa's song (which more or less represents how mkt usually "thinks" when gets over excited on something). I don't like when everybody is saying the same mantra and push it same way.


Ooh, baby, baby
Baby, baby
Ooh, baby, baby
Baby, baby (get up on this)

Ah, push it
Ah, push it
Ah, push it (get up on this)
Ah, push it

(Get up on this)
Ow baby
Salt and Pepa's here
Salt, Salt, Salt, Salt and Pepa's here
Salt and Pepa's here
Salt and Pepa's, Salt and Pepa's , Salt and Pepa's here
Salt, Salt, Salt
Salt and Pepa's here

Now wait a minute, y'all
This dance ain't for everybody
Only the sexy people
So all you fly mothers
Get on out there and dance
Dance, I said!

Salt and Pepa's here, and we're in effect
Want you to push it, babe
Coolin' by day then at night working up a sweat
Come on girls, let's go show the guys that we know
How to become number one in a hot party show
Now push it

Ah, push it
Push it good
Ah, push it
Push it real good
Ah, push it
Push it good
Ah, push it
P-push it real good

Push it good

Ooh, baby, baby
Baby, baby
Ooh, baby, baby
Baby, baby

Push it good
Push it real good
Ah, push it
Ah, push it

Yo, yo, yo, yo, baby-pop
Yeah, you come here, gimme a kiss
Better make it fast or else I'm gonna get pissed
Can't you hear the music's pumpin' hard like I wish you would?
Now push it

Push it good
Push it real good
Push it good
P-push it real good

Ah, push it
Get up on this (uh)
Get up on this (uh)
Get up on this
Get up on this

Boy, you really got me going
You got me so
I don't know what I'm doing

Ah, push it
Ah, push it

Boy, you really got me going
You got me so
I don't know what I'm doing

Ah, push it
Ah, push it

Ah, push it
push it, push it-push-it-push it
push it, push it-push-it-push it, push it
push it, push it-push-it-push it, push it
push it, push it-push-it-push it, push it

LastBattle
a year ago
yeah euro is super oversold, yet it kept sinking lower and lower.
I cant wait to see the short squeeze unfolding
+1 Reply
Kumowizard PRO LastBattle
a year ago
yes, it has become oversold. But you know, it can become even more oversold. You never know what more ECB will do. They promised the moon to the market. Will they deliver? I don't know, but we need to wait for a proper 4H counter trend signal, before we enter longs.
+1 Reply
Wonderful post :)
+1 Reply
Kumowizard PRO FluidicFX
a year ago
"Real good" you mean? :-) then just push it! hahaha
Reply
Azedo_Forex
a year ago
A price is never low enough. A price is never high enough. Arguing with the crowd may not be a good idea, especially in such a volatile pair. This trade has become so obvious that it may come true.
Despite all the fuzz that has been said about parity, if you focus on price action and technical analysis it is still going down and there is room for further dropping - but I agree there are some divergences here and there, as always has been. In case of doubt, stay flat, wait for trend confirmation and then restart your trading process ;)
Reply
Kumowizard PRO Azedo_Forex
a year ago
I don't argue with the corwd... yet. But when I will start arguing with them, that will be nice, since they will squeeze themselves as always.

You are right, the price action is bearish... but it still developed massive divergences. Just like SP500... bullish, but I have a lot of question marks there as well.
This is exactly why I wait for my systems signal. I only wanna fade the bears and te crowd, when they fade themselves!

Meanwhile I rather trade Bunds, than chasing this crowded EURUSD here.
Reply
Victor.Y.F
a year ago
Haha, nice post! Especially the song is so dirty. I agree with you.
Reply
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