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EU

NFP March 7th, 2023'In yesterdays publishing you can observe that our short term target was at 1.0938. Some buyers are taking profit as we have reached this minor zone 1Hr level. The bullish 4hr candle closed above 1.0918 which has been our Fakeout sell side entry area. This is bullish technically speaking. Looking at market structure it looks great. So we had a fakeout market strcutre display, but now look where the 4hr candle closed. EU being tricky. In larger context, I don't like buys as much at these prices. I like retests of 1.0867 to end the week off with NFP tomorrow. Price is consolidating near the Daily/Weekly highs and playing games. If we go Long, I like Bulls respecting 1.0918 , possibly wicking back down again to 1.089 and then rocket to mars at 1.103, Weekly timeframe wick fill. Trading : Fortunately, I did trade and anticipate sells off this level after news was released this morning. Price wicked up violently triggering my buy stop. In profit for two seconds then hit SL. Only half risk here. Consequently, I took sells after we whipped back down and created a low to go fill in momentum. I scaled in with full size effectively and picked up 7.3 pips in 6 minutes. I took one more sell for +2 pips with higher risk which worked out well. Took 1 more trade with half risk and closed for small loss. Called the day there.
Short
by ShrewdCatfx
Moving into Weekend 🏖️ Weekly Candle Pulling back As mentioned in yesterdays publishing, we were anticipating dollar strength moving into NFP. The market structure was a bit awkward moving into NFP with price consolidating testing to see if it could hold 1.0918 as support. We punched through back to 1.089 with NFP data. Took advantage of these intuitions for the better then consequently ran into risk management issues. Nonetheless we have seen great sell opportunities these past 2 days to end the week and I'm not surprised. Moving into the weekend I think the weekly candle can cointinue to pullback and potentially gap down as we open next week. I've been talking about 1.0918 frequently as it will act as our Fakeout level on 4Hr Timeframe if we are right. If we are wrong, will range and ultimately like the bulls to do a solid break and retest above and beyond 1.0918. Have a good weekend.
Short
by ShrewdCatfx
Here come the Bears ? 🐺Per Analysis of yesterday I warned about buying at the higher prices. After we have a spike and people bag up, we have some hold the bag. Price nearly stretched the whole range up to 1.098 Daily Zone. Price just couldn't quite make it. Completely Missed this news correction move - was away from computer and totally didn't see it anyways. I did know it was likely we would have selling pressure after news like I have studied in the past (check bias from yesterdays' post). Another News Correction in the books, and another piece of art to learn from. This news correction contained 2 red folders to complete the campaign. More Analysis : It was very possible to jump on the train for sells after the 7am PST 1Hr News Candle closed bearish underneath our 1h/4hr zone. We consequently came up for a retest at 1.0918 4hr zone . We have the Daily cnadle closing Bearish , nearly completely retracing yesterdays candle. We would like to see the daily candle to at least close above 1.0904 so bulls at least have a reason to hold. 1.089 4hr level appears to be holding steady for the time being. For Bears we would like to see the 4hr chart do a fakeout and respect 1.0918 4hr level. However I can still see weekly target for bulls. We do have clean traffic on 1Hr chart up to 1.0957. NFP holds more weight here for me at least
Long
by ShrewdCatfx
7
EU Entered HyperSpace ⛩️ News --> the Catalyst We have entered HyperSpace and are now transcending into the stars. We are ahead of schedule as our weekly target remains as 1.103. Weare in the middle of a range between 1.093 and 1.098. If I was swing I would like break and retest of 1.093. But I'm not swing. Volume comes into the market in disproportionate balances at specific times and this is why I enjoy scalping and stick to it. Stick to what works based off your personality. Aiming for 1.103 which would be a monthly wickfill. Be cautious for buys at these prices. Price must setup exactly how your plan and parameters permit. More Analysis : Took multiple buys and majority played out for a good RiskReward. I set a sellstop as the news popped off and earned 13 pips in 1 second. Consequently I placed 2 more proftile trades as we had determined direction and saw good momentum shortly after the news release. We have clean candles to the left on 1/4hr TF's from 1.093 to 1.098 Daily Zone. That was very encouraging for bias.
Short
by ShrewdCatfx
Bounced off Daily Zone 1.07971 & Large Daily Wick is Bullish 🤷‍Value in Description ⬇️ Beware we have returned close to our extreme prices after an abrupt beginning to the week. Price fell into the abyss as optimistic buyers were a bit too early like myself. This NY session though we managed to grab a spot on the train. I was bearish walking into the week and was expecting a pullback to these prices. However , after that start to the week and observing how the daily candle may close with the large bottom wick, it gives me more confidence that we may blast through the extreme prices at 1.093. Our next target may be the previous monthly candle wick at 1.103 and which is also the next weekly Zone above where we are currently at (1.088) NFP on friday will be catalyst for large move here. Especially with this start to the week. We already have a large imbalance and it's obvious. More analysis : We have created a Lower Low on the 4Hr TF. NFP is setting up early in the week at extreme prices 1.093 area. Retesting, before we move back down to 1.079 and reject extreme prices at a Monthly and weekly S/R level at 1.09.
Long
by ShrewdCatfx
2
Dollar Buys but after a pullback early in Week? ⛺Welcome April. Last month we ended with the monthly candle and the weekly candle pulling back and created a larger top wick. However, the Monthly candle looks awfully bullish as it closed as a solid bullish candle. That being said, it did close within our Daily range and the weekly candle closed below the weekly zone to the left at 1.08690. We also had a bearish engulfing candle close on the Daily timeframe, Which i'm not surprised by. We tapped into extreme prices at 1.093 as mentioned in previous publishing's. Anyways, anticpating pullback back to 1.0853.
Long
by ShrewdCatfx
Opportunity to jump on the Train or get ready for Sell side? 🕛We have corrected the GDP volatility and continuation at 530PST. However, We have pulled back to a 1Hr/4Hr zone at 1.0895 and this woulnd't be a bad place to jump on the bullish train. I'm just watching for the rest of the day. I jumped off the train already with Buys. With all this said, we have increased 145 pips on the week. Wouldn't be surprised if Price drops from these prices tbh back to 1.0854 Daily Zone. We'll see what happens as we move into CPI data tomorrow. Safe trading. Not Financial Advice. Just education.
Short
by ShrewdCatfx
London Close Volume up to Daily Zone at 1.0854 or Range? The 4Hr candle closed above 1.083 4Hr Zone which is quite bullish for me. However we must consider that we have seen some volatile rejection near NY Open around 3-4 Hours ago. It's about where candles close so that is why we will give more weight to the buy side. If We get to 1.0854, then I can see it being pretty straight forward for us to reach 1.089 as mentioned in previous posts. More Analysis: The first 1Hr cnadle of the new 4hr candle pulled back to 1.081 which we respected. The consumer confidence report was used as a catalyst for a continuation of bullish momentum. The 1Hr candle just closed above the other candles to the left at 4pm GMT time. Look on the 1Hr and 4hr and you will observe a free liquidity range for us to push up to 1.089. First we must observe the Daily level at 1.0854 and see if we will push further into it or plainly reject it, taking us back to 1.081.
Long
by ShrewdCatfx
Eurusd still more Upside after touching into 1.0854? 🚄1) We have managed to Respect and hold 1.081 during London Session. 2) 1Hr Zone at 1.08230 has also held strong. 3) The 4hr closed 3 hours ago directly at our daily level 1.0854. Actually, it closed slightly below whihc is Bearish Price doesn't have to move up anymore because we are at the resistance of the daily range after a move up this week of 110 pips this week. I still like the weekly target at 1.089 however as we move closer to CPI data . We'll see what happens We may attempt to fill previous weekly wick with momentum which would be price --> 1.093 CPI would be a catlasyt to reach this target
Long
by ShrewdCatfx
EURUSD Potential Forecast | 30th March 2023Fundamental Backdrop 1. EURUSD has been bullish 2. Tonight's final GDP q/q for the US could give us an insight on the US economy 3. Market has been pricing in a bullish economy for the US which could potentially lead to short term downside potential in EURUSD Technical Confluences 1. Price is nearing the resistance level at 1.0881 and could see rejection off this area 2. Any short positions or ideas would be an intraday perspective, especially given the uncertainty in the market currently. Idea With a medium bearish bias for the EURUSD today, price could potentially tap into the H4 support at 1.0755. 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.
Short
by OlympusLab
1
Buys Active on EURUSD to target 4h Supplythis trade was kinda risky tbh we were short biased this morning, so we took a short and price bounced in the same area for a whole hour, and we execute on 1m so that was a lot, and price went up and stopped us lol so we adapted and switched bias but i was looking at lower areas to buy from, but everything was mitigated (except the extreme) so we adapted trade idea based on 4H flip zone after we saw demand was holding in that 4h zone, and price started building bullish OF on 15m/5m, after sweeping liquidity....and that's where we got our confirmations we waited again for 1m confirmations paired with the 5m and boom, executed 4h 1h 15m 5m 1m entry we will see how this plays out
Long
by Cleerboy
Very possible we may pullback early in week --> 1.08 Daily LevelIt is possible we may continue to pullback early in week and continue to reject daily level 1.07425. We must consider every daily level, even when we have a medium to long term bias on an asset. I think we can continue to pullback to the previous daily zone at 1.07795 before we see sellers step in and put in their two cents. Also the weekly candle needs to pullback and create a top wick. We had a very steep dive last week which we caught on the sell side. The wick on the daily candle shows rejection at a Monthly support and resistance zone at 1.09. I Still like a Bearish outlook. We have inflation data this week, at the end of the week that is. I think by that time we will have solid trend, and consequently use cpi data for a continuation of trend on the 4hr which we can ride. Safe Trading.
Long
by ShrewdCatfx
2
Correcting the News. Back to 1.07922? 🐻Check Description for Value ⬇️. Anyways, Looking for lower prices here. Where we have a move created by news which is corrected in the next few trading sessions down right almost to where it began. Simple trade idea. I've studied this is in the past. I have multiple screenshots in a library that documents this exact move. Doesn't matter what the news is necessarily. What matters for the most part is the market structure after price spikes. What kind of market structure can we observe after we spike? In the succeeding sessions after the news, what is price doing?
Short
by ShrewdCatfx
1
Favoring sells But sitting on Sidelines. Interest Rates⛔-->->EU I like the Risk to reward to the downside. However, and similar to Feb 1st Announcement, we could rip upwards to the Moon similar to first landing on the moon. We'll See what happens as we sit on the sidelines. Beware of position sizing during intraday scalping 1Hr after announcement. Which I have found typically to be the best time to trade surrounding news trading. Price is currently sitting underneath our 1.08 Daily zone. If we decide to move up our next target will be 1.08539 Daily Level. Other than that we have rather clean traffic heading up on the 4hr. If the market determines that pessimism is strong enough, we will respect our daily level here at 1.08, and leave a wick of liquidity catching breakout traders to the downside. Going down, I can observe us reaching 1.074 Daily level relatively easy once again. Anticpating crazy volatility here. Those are expecatations but we could be disappointed. Manage expectations. Safe trading.
Short
by ShrewdCatfx
Price keeps pushing up. Following MomentumThis looks like a very healthy uptrend on Lower timeframes. Printing a high and consequently pulling back, to breathe, before pushing up once more. Although and given the fact that we are still in a range on the daily and have been now for quite some time. The wicks on the few previous weekly candles have caught my eye after we failed to break below 1.0548 Last week. Holding a trade over the weekend was a good trading idea. Something I don't do too often. The momentum as the weekly candle pulled back on Friday of last week was very intriguing. Today, The 6am 4Hr Candle was a catalyst for a contiuation in buys. Something I called out in real time on my previous publishing. I updated the idea minutes before the 6am candle closed. Thanks for reading this far.
Long
by ShrewdCatfx