The chart above explains.
A lot had happened since the previous chart and now we can see things much clearer. And with that, just a simple update to the chart.
I am still calling it 'Short' - if you have been following, you should know about this.
But while waiting for price to move UP towards the SELL zone, there are still quite some opportunity to BUY.
Good luck.
P/S : Do not just believe what I say. Use your common sense.
A lot had happened since the previous chart and now we can see things much clearer. And with that, just a simple update to the chart.
I am still calling it 'Short' - if you have been following, you should know about this.
But while waiting for price to move UP towards the SELL zone, there are still quite some opportunity to BUY.
Good luck.
P/S : Do not just believe what I say. Use your common sense.
Comment:
Comment:
What is price doing now?
It seems to be stalling?
Should I SELL now?
Actually, price had just passed the 1st test a few hours ago. Now price is trying to make it past the 2nd test. If successful. then the future for further price advance is very good indeed. If you have been following me long enough, you should know what I am talking about. If not come back tomorrow :)
It seems to be stalling?
Should I SELL now?
Actually, price had just passed the 1st test a few hours ago. Now price is trying to make it past the 2nd test. If successful. then the future for further price advance is very good indeed. If you have been following me long enough, you should know what I am talking about. If not come back tomorrow :)
Comment:
Comment:
Price continue to go down. But what is the trade???
I think we all know the NEXT when and where ---> 1.0808
This is the next 'D' down and also one VERY IMPORTANT place - this is the 100MA
If you look into the past, this was exactly where the price bounced off on 15/03/2023. I would say, it is never different this time.
If we look at the VOLUME, I can see that Buyers has yet to step into this game. Let's see when they do.
Good luck.
I think we all know the NEXT when and where ---> 1.0808
This is the next 'D' down and also one VERY IMPORTANT place - this is the 100MA
If you look into the past, this was exactly where the price bounced off on 15/03/2023. I would say, it is never different this time.
If we look at the VOLUME, I can see that Buyers has yet to step into this game. Let's see when they do.
Good luck.
Comment:
Fucking awesome.
With a little luck, we might have a winner here.
Time to move SL to Entry :)
With a little luck, we might have a winner here.
Time to move SL to Entry :)
Comment:
Feeling dejected?
Well, that is what trading is all about.
The most important thing is that I do not lose any money.
As time passes, we get to see things more clearly.
There is still one final opportunity.
Want to know the when, where and why ?
Let me know :)
Well, that is what trading is all about.
The most important thing is that I do not lose any money.
As time passes, we get to see things more clearly.
There is still one final opportunity.
Want to know the when, where and why ?
Let me know :)
Comment:
Comment:
This time, I lose a few pips.
I think I might have chosen the wrong 'D'. Now I am focusing on 1.0754 instead of 1.0783
The rise and fall of Dollar need to be in sync.
USDJPY needs to go up a bit more to 139.33 - As you can see, it is rising persistently. I do not think Dollar will weaken until it reaches this target. Once it gets there, then I will come back to EURUSD. In the meantime, all eyes on USDJPY :)
I think I might have chosen the wrong 'D'. Now I am focusing on 1.0754 instead of 1.0783
The rise and fall of Dollar need to be in sync.
USDJPY needs to go up a bit more to 139.33 - As you can see, it is rising persistently. I do not think Dollar will weaken until it reaches this target. Once it gets there, then I will come back to EURUSD. In the meantime, all eyes on USDJPY :)
Comment:
Comment:
Price pass 1st test if close above 1.0800
Finally, it is moving UP :)
Finally, it is moving UP :)
Comment:
With a little luck, we might have a winner this time :)
Comment:
1.0825 is the second test. Price is now testing it.
Above this, we should be GREAT :)
Above this, we should be GREAT :)
Comment:
As you can see for yourself, 1.0825 is the resistance level. Price tested it 4x and so far failed. As I always say, do not just believe what I say. Always see for yourself. So, do you still want to use trendlines? Always remember, price goes UP and DOWN only. Price do not go sideways.
So what is the market waiting for? When trading, we need to keep updated with fundamentals. Here are my thoughts.
If we look at the COTR, the market is pricing down UST, which means yield will rise. Perhaps they are thinking Uncle Sam will default before then end of this month. But most likely is that Uncle Sam is broke and once they raise the debt limit, Yellen will be selling A LOT of UST. Of course, she will be forced to offer higher yield because of the increase in supplies. How will this affect dollar? Well, most likely dollar will fall to compensate for the rise in yield. If not, who will buy UST?
It will be another 10 days before 1 June. Once the debt limit is raised, we can probably see EURUSD begin to rise. But I think the 1.0825 resistance will be broken next week. Once price breaks above it, wait for pullback before BUYING with SL at previous low.
Good luck.
So what is the market waiting for? When trading, we need to keep updated with fundamentals. Here are my thoughts.
If we look at the COTR, the market is pricing down UST, which means yield will rise. Perhaps they are thinking Uncle Sam will default before then end of this month. But most likely is that Uncle Sam is broke and once they raise the debt limit, Yellen will be selling A LOT of UST. Of course, she will be forced to offer higher yield because of the increase in supplies. How will this affect dollar? Well, most likely dollar will fall to compensate for the rise in yield. If not, who will buy UST?
It will be another 10 days before 1 June. Once the debt limit is raised, we can probably see EURUSD begin to rise. But I think the 1.0825 resistance will be broken next week. Once price breaks above it, wait for pullback before BUYING with SL at previous low.
Good luck.
Comment:
And this morning, what I see is that speculators are really bullish EURO. For me, it is NOT a wise idea to GO AGAINST their wishes :) By the look of if, this can be nothing short of 300pips.
www.investing.com/ec...ative-positions-1611
www.investing.com/ec...ative-positions-1611
Comment:
As you can see 1.0825 remains the key resistance level to break.
It is not 1.0830 as most would believe. If you can understand WHY, then you know how to read price movements well.
Seller is now making a stand here and is pouring in more resources. But, the buyer is the more aggressive one. Let's see who will win.
It is not 1.0830 as most would believe. If you can understand WHY, then you know how to read price movements well.
Seller is now making a stand here and is pouring in more resources. But, the buyer is the more aggressive one. Let's see who will win.
Comment:
I think the wait is nearly over.
We should get an answer today.
Obviously, EURUSD is waiting for its friend, USDJPY to catch up.
USDJPY ----> Sell @ 139.330
Good luck.
We should get an answer today.
Obviously, EURUSD is waiting for its friend, USDJPY to catch up.
USDJPY ----> Sell @ 139.330
Good luck.
Comment:
Always remember, trading is all about REACTing, NOT predicting.
In order to know the right time to react, you need to let PRICE show the way.
In order to know the right time to react, you must know WHEN and WHERE.
And of course, you need to know HOW to react as well.
Wait for 1.0825
When trading, do NOT stick to an opinion - It is better not to have an opinion at all. Instead, have an open mind.
You can always tell who is a NOOB for they tend up to MAKE UP their mind faster than a speeding bullet. They are the type that are so CONVINCED with their 'prediction'.
An EXPERIENCED trader would let price dictate his action.
Good luck.
In order to know the right time to react, you need to let PRICE show the way.
In order to know the right time to react, you must know WHEN and WHERE.
And of course, you need to know HOW to react as well.
Wait for 1.0825
When trading, do NOT stick to an opinion - It is better not to have an opinion at all. Instead, have an open mind.
You can always tell who is a NOOB for they tend up to MAKE UP their mind faster than a speeding bullet. They are the type that are so CONVINCED with their 'prediction'.
An EXPERIENCED trader would let price dictate his action.
Good luck.
Comment:
As you can see, volatility is playing tricks - only this time it is the low volume type, which is far more dangerous than the high volume type. I think up until 1 June or before they settle the debt limit issue, price will move wildly. Now price is at the 1.0740/45 area which you can see what it is.
As in such circumstances, we wait - 1.0825 for fundamentals to take over.
As in such circumstances, we wait - 1.0825 for fundamentals to take over.
Comment:
Someone asked me an interesting question.
He said, why wait for price to move back UP? Why not try to BUY now when price is LOWER?
The answer is very simple as many of you do understand. First, of course is the current volatility. Volume is trending LOW as you can see because most people are just waiting and see.
The answer is obviously the different strategy to adopt when price is moving DOWN compared to when price is moving UP. It is always far easier for price to drop than to rise. So the proper thing to do now is wait for price to move back up.
Some would ask if this is a good time to SELL. The answer is simple - it is already TOO LATE for price had moved so far down. You might as well wait for a pullback. Remember - no FOMO.
But for our USDJPY trade, price is moving UP and we are trying to SELL. Here, the trading strategy is different.
He said, why wait for price to move back UP? Why not try to BUY now when price is LOWER?
The answer is very simple as many of you do understand. First, of course is the current volatility. Volume is trending LOW as you can see because most people are just waiting and see.
The answer is obviously the different strategy to adopt when price is moving DOWN compared to when price is moving UP. It is always far easier for price to drop than to rise. So the proper thing to do now is wait for price to move back up.
Some would ask if this is a good time to SELL. The answer is simple - it is already TOO LATE for price had moved so far down. You might as well wait for a pullback. Remember - no FOMO.
But for our USDJPY trade, price is moving UP and we are trying to SELL. Here, the trading strategy is different.
Comment:
Looking at recent price movements, I think we can all agree that it is wise not to step in yet. The reason is simple: with volatility, we simply cannot set our SL properly. When price leaves the 'D' and starts moving in an erratic trend, it is better to practice patience. We will wait and let the price move back into the "D."
Comment:
If price break/close above 1.0760, we are back in business.
If you happen to be SELLING, you should know what to do :)
If you happen to be SELLING, you should know what to do :)
Comment:
Price just happened to bounced off from 1.0655
Why is it so? Can you see it?
Most likely, that would be the low :)
Good luck.
Why is it so? Can you see it?
Most likely, that would be the low :)
Good luck.
Comment:
FX trading is sometimes a bitch.
It just has to put you in suspense by going off a bit.
We should be good now. US10Y just went below 3.6440%
Guess we just have to learn enjoy this :)
It just has to put you in suspense by going off a bit.
We should be good now. US10Y just went below 3.6440%
Guess we just have to learn enjoy this :)
Comment:
Seems that luck is with us.
Now that price is moving up, do you know the 3 critical price line?
The first test was 1.0683
2nd @ 1.0747
3rd @ 1.0825
These are the 3 areas where we can add to our trade. Once break through, wait for pullback and add.
Once above 1.0825, it is best not to add anymore, for it would already be too LATE.
This is the final comment for this idea.
Good luck.
Now that price is moving up, do you know the 3 critical price line?
The first test was 1.0683
2nd @ 1.0747
3rd @ 1.0825
These are the 3 areas where we can add to our trade. Once break through, wait for pullback and add.
Once above 1.0825, it is best not to add anymore, for it would already be too LATE.
This is the final comment for this idea.
Good luck.
Moving SL to Entry and enjoy the ride till it reach the designated zone.