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💵 Dollar Buyers Pile Back in with NFP DataWell Dollar Buyers Piled back in with positive Jobs data. Eurusd returned back to the bottom of the range for the 3rd time in 2 Weeks. Our Daily Levels being 1.097 and 1.095. Quite the week for Swing traders and Scalpers playing the range.. Like who cares about breakouts anymore 😂. We were anticpating this data to take us out of the range and up to 1.115 but that is for another day. The Weekly candle will either Pullback up or continue dropping to end the week. It appears that we may be going to correct the NFP release at 1.10111. This occurs a majority of the time. The timing can be quite tricky however. I've seen it take 2-3 Days or 2-3 Trading Session or even 2-3 Hours. Yes, or even less than an hour. Either way have a great weekend. No trades today because the sum of my Previous 5 Friday's were profitable BUT only on 20% of the days. I had a Big Friday in Late March which brings the sum of my recent Friday's to a positive. If I had traded today I would have done well. But as mentioned previously the majority of Friday's are a Small Loss or Break even. It's Friday and even though I'm overall up on the sum of my friday's, I would rather save my energy and go enjoy the weekend. This doesn't mean that I can't still watch the charts. I did. I had a B.E. week. It's better than a Losing Week! Another week of experience under the belt. Safe Trading.
by ShrewdCatfx
May FOMC announcment 🫨Do we have enough steam to take us to 1.11500? Anticipating that rates stay the same and that the May Decision is Bullish. Planning since Staurday this past weekend that we may be onto something here. My Belief is that May Decision is viewed as an Optimistic data point. Preparing for a fall to 1.086 if not the case. Safe Trading. I'll be looking for opportunities about 1hr after the announcment once we have momentum and determined the direction with lowerd lot size and FOLLOW you TRADING PLAN. Okay good luck and safe trading.
Long
by ShrewdCatfx
2
Inflation Data 📊 Favoring BreakoutHas EUR Topped out and has GDP been enough to put the nail in the coffin? Price is continuing to reject extreme prices and this was anticipated from 1.1045 and 1.1056 Higher time frame level's. However Buy Side took over to close out the NY Session. Maybe this is a precursor to a Bullish /Optiumistic CPI release tomorrow and a rise in EU. This is my Bias for the last Asian session of the week. More Analysis: We may retest 1.10 1Hr Zone during Asian Session. It is wise to be weary of the fact that we are in a range on the Daily TF between 1.1045 and 1.0973. I was anticipating that we would keep pushing and do a continuation for NY session which we did, sort of at least back to the lows which was momentum from the news release. But these low prices didnt hold and the Daily cnalde is pulling back up to end off the session.
Long
by ShrewdCatfx
1.1056 Weekly Level Says " Not Today " 🔊 EURUSDLondon Session -- London Volume pushed us hard back up to the Highs. Sellers caught as the Tide went out. New York Session -- "Wait for me I want buys too" London Close -- " Let's Buy I dont want to Miss out" The "Breakout" was corrected shortly after as Buyers TP and Shorts Say " wait before we breakout we must come back down to earth" . If we go up we are going to next weekly level at 1.145 If we go down this will be a triple top on the Daily Timeframe as this daily cnadle comes to a close and leaves a wick rejection failing to close above yesterdays close as Shorts begin to get crowded as we prepare for a 1.095 retest once again. GDP will give us insight on where traders are setting up their positions to hold through Firdya's CPI data. Price is fooling around at the Highs of Structure. Shaking both sides.
Short
by ShrewdCatfx
Is there an Ocean Floor? 🌊 EurUsdWe have Seen 2 Colossal moves on EU in the last Day. Yesterday was tremendous buys to begin the week as Every Session saw a bullish push up to HTF Levels and Extreme prices around 1.105. For Breakout Traders we saw a Trap near Weekly Highs at Weekly Level 1.1056. Why would you place buys up there without a Daily candle close confirmation above 1.1045 Daily level IDK to be honest. Yet it was still brutal for buyers as price dropped back to more attractive prices. I was one of the buyers but I flipped my bias bearish as mentioned in Yesterday's publishing. I stated that " For better buys one of the previous 1Hr Zones at 1.1045 or 1.1027 or if we pull back harder.. maybe we'll consider more short term downside because it is quite early in the week " . So based off this I let go of my Ego and began taking sells and it went well. Moral of the story.. follow your trading plan and utitlize tight risk management. Taking a step away from the computer and going AFK can help with psychology enormously. The brain is able to do a reset and when you return, it's in a more optimal state. With that said More Analysis : Looking for a pullback to 1.098 4Hr Zone for Asian and continuation of momentum to the downside. Observing the potential Daily Candle bearish engulfing and hard push to upside early in the week on Mondya, I like more opportunities to the downside. Weekly target is looking like 1.086 which would be a break and retest on the Weekly timeframe. 1.086 being a weekly Level. For buys I would like to see support at 1.0953, maybe consolidate and move up from there.
Short
by ShrewdCatfx
Correction Imminent for Liquidity? 🏔️ Eur/UsdLooking for a Correction because price is going straight up. The New 4Hr Candle may be the catalyst for an Asian Session Pullback before the 2nd London Session of the week kicks off. As we approach London Session we will see more volume arrive and anticipating potential corrective structure. The RR is worth a short although you should never walk in front of a train unless you have confluences and a good RR Idea. Anticipating corrective structure during this session and London Session. For Buyers maybe a retest of Broken Weekly Level 1.1058 for more aggressive buys. For better buys one of the previous 1Hr Zones at 1.1045 or 1.1027 or if we pull back harder.. maybe we'll consider more short term downside because it is quite early in the week. 1.1075 Weekly wick Fill from 2nd Week April is likely considering we just had a strong Daily candle close (at) 1.1045 Daily level. We closed below our Weekly Level at 1.1058. So no most optimal buy scenario for continuation here but we'll see. More Analysis: Taking Buys today throughout NY Session was straight forward as we had the NY 4Hr candle close above 1.102. This gave me confidence to take buys throughout the session. Although we had a tough time at first, we kept trading and my system ended the first trading day of the week on a positive note ( No pun intended ). Sometimes my entries are a bit sloppy as I can be quite impatient. This is why I am a Scalper however as it is more suiting towards my persnaility anbd trading style. However, Risk Management is especially significant with a scalping strategy as although wins come faster same do cost's of business.
Short
by ShrewdCatfx
EU Slides 🛝 and Dollar ReignitesPrice is currently In a Range between 1.0952 and 1.0988 on the 4Hr. We have extreme short term prices at 1.10. We have multiple wicks here and we can bet probably that there will be a downside reaction for bears after we hit this area. It is also a psychological area for everyone on all TF's. Hawkish remarks by Fed recently don't necessarily appear to have drastic short term consequences but we may quickly have that answered as we begin the new week. We have price funneling up on the line chart on our intradday charts. We have alot of free liquidity waiting to be realeased if we can close and hold above 1.10 extreme prices//psychological area. 1.0871 is weekly target frr bears, the next daily zone below prev strucutre
Short
by ShrewdCatfx
EURUSD - NO LONGS UNTIL WE FILL THE 4H INBALANCEGood afternoon traders, I hope this video will provide you some value on remaining patient and not rushing into longs on EU until we have reached a discount market and filled the 4h inbalance. We certainly have unfinished business on EU and the daily chart has shown no indication of going short any time soon. However, it is important to note that when equal lows as perfect as this are printed - we should remain vigilant and not enter based on these 'support' levels and instead wait for a stop hunt below. I will provide an update once/if price retraces below these lows. Best wishes, Jake
Long
by jmw2000
EURUSD Potential Forecast | 19th April 2023Fundamental Backdrop 1. Stronger dollar and bullish sentiments in USD is being brought forward from last week. 2. However, given the interest rate differential between the 2 currencies, EURUSD is anticipated to continue bullish. Technical Confluences 1. Near-term support at 1.08848 2. Price is still forming HH and HL, on a bullish trend 3. We could see the retracement head in line with the 0.786 level on the fibs Idea Looking for price to tap the area of support at 1.08848 before heading bullish. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Long
by OlympusLab
EURUSD Potential Forecast | 18th April 2023Fundamental Backdrop 1. Market sentiments continue to favour the EUR against the USD given the potential interest rate differential between the 2 currencies. 2. ECB highly anticipated to hike rates by 50 bps in the upcoming ECB meeting. Technical Confluences 1. H4 support at 1.08764. 2. Price have rejected the 0.618 level on the Fibonacci retracement and has seen bullish pressure as per forecasted yesterday. 3. Structure has most recently broken. Idea Anticipate for price to continue bullish as it retest the highs again at 1.10765.
Long
by OlympusLab
Fomo Buyers + News Correction of Unemployment & PPI Data 🎢You may observe rejection of 1.1057 Weekly Level as mentioned in prev post. Very good sell opportunities as we rejected the weekly level and Fomo buyers were caught off guard. The American consumer is struggling and can be observed by retail sales data. We had a 7am Continuation when consumer sentiment was released , acting as a catalyst to continue momentum of the already established direction as we rejected 1.1057 weekly level as big buyers TP above 1.103 extreme prices. We would prefer to See the Daily candle to close below 1.0988 for Sells to continue. For Buyers we maintain an overall bullish trend if we hold above 1.0988. We do see some very large engulfing candles on the 4Hr on EU here. That is why I'm looking for some sort of continuation to the lows as we walk into the weekend and the open on Sunday. I think DXY bulls are on to something here but it is CPI week and the weekly candle is closing bullish. I would like to be proven wrong early in week next week like Sunday/Monday for more buys back up to 1.1057 and higher.
Short
by ShrewdCatfx
2
Up during Asian. Retrace during London? 🗞️We have creased yesterday's daily high at 1.10678. There is liquidity above this high. Especially since we have run up so far and therefore probabilities suggest we will pullback for liquidity for London Open. If we go up , then we will fly because there is clean traffic to the left. The 4hr is quite clean up to 1.1158. The 1Hr is clean up to 1.1125. Either way we must be prepared. I like pullback to clear out fomo buyers above yesterday's daily high back to 1.1057 for liquidity. Price has gone up so far and has exceeded our weekly target at 1.103. The market is oftern irrational and can be so longer than we as traders can stay solvent. Safe trading.
Short
by ShrewdCatfx
Will we see a News Correction? 🙊 Inflation Data EU has been moving quite violently and was expected with inflation data. We took advantage of the momentum and took 4 buys as price left the 1.0922 key level. We originally took Sells from this level which played out nicely. However, just as we did last week, Price dips hard early in week. Then soars as the week progresses using news as a catalyst for a continuation of momentum. With new 4hr candle here, we may anticpate a top wick on the next 4hr candle. We may stretch to 1.103 daily/weekly wick fill today or tomorrow. That's short term target with this momentum. Most of the time the news corrects but also the market is very sensitive to cpi data . especially in recent months for obvious reasons. More Analysis: It is a good for bulls that the 4hr candle is closing above our daily Level at 1.09885. We also have clean traffic to the left hand side on the 4hr for bulls. For Bears we have the argument that we already have significant engulfing daily bullish candle. Additionally , fomo after some missed the entry from 1.0922 pre-news. Also 1.10 is a psycholigcal level for bulls and bears. So we may see some profit taking before heading any more north to Weekly wickfill at 1.103
Long
by ShrewdCatfx
2
📰 Bloody Momentum after the NFP Fakeout @ 1.0918We didn't do much waiting around to begin the week. We dropped a large sum and closed quite the large engulfing candle on the 4Hr Timeframe. Yes, In this instance I am aware that we have arrived at a Daily zone 1.08445. However We spent a good chunk of time collecting orders around 1.093. Jumping above and back below. We had NFP data released recently and now we are trading the momentum move that comes along with it. Momentum is a fierce blade, sharp enough to pierce the torso of a mammoth. But it's also possible that just as we did last week, price dropped a ball to begin the week. Then pulled it's pants up and soared upwards. Positive sentiment in stock market etc. The Near term prices I like are listed as 1.08445. If we bounce hard off daily level we are headed back to weekly level at 1.0868. That would be where I would give up bearish bias 1.0868. More Analysis: Last week I was looking for a retest of 1.0868 but we got it this week and actually went to do a deeper pullback to 1.083 It looks like. A lag but not too much of a lag for this short term analysis. I can be profitable with a lag because just wait until the next sessions and manage risk tight to protect profits when it is necessary.
Short
by ShrewdCatfx