Looks like the market will prepare the rate hike next week...
My entry points for a long position: now or 1.1230. SL: 1.12 TP1: 1.1291, TP2: 1.1300, TP3: 1.1320
My entry points for a short position: will place a sell limit order at 1.1300 SL: 1.137 TP1: 1.1200; TP2: 1.1160, TP3: 1.1110
Once there, will review the market once again.
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Small ABCD started to work, heading to TP1
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TP1 reached. Long to breakeven
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4H timeframe (chart below) not showing any alterations of divergences. Can retrace to 1.1230 which still would be a good level for re-etnering longs.
Any break below 1.1230 is an alert and a break below 1.1200 for me would mean we have entered into a bearish phase.
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TP2 hit. Opened short position, still expecting TP3 to be reached
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High volatility time is approaching. Keeping both long and short positions, removing SLs. Will close them manually.
Important levels to watch are: Supports: 1.1200, 1.1160, 1.1120 as per Big ABCD pattern Resistances: 1.1330, 1.1350
I have set a buy limit order at 1.1200 and sell order limit at 1.1450 . Both levels can be reached between today and Monday next week
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Just wanted to mention a detail which for me is quite important: at 15.00 CET (9.00 a.m. ET) the journalists will receive the briefs of Janet Yellen´s speech. If you remember, USD took a nice dip when, some days ago, one of the FED respresentatives said that the whole monetary policy needs a review a re-design.
Therefore, if some Reuters or Bloomberg posts a headline similar to "Yellen will talk about changes in the entire policy system", watch USD to dive.
A perfect setup would be: EURUSD goes to 1.12 on GDP news, we buy, move a long to breakeven and then get the news from the FED.
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No changes in GDP, no changes for USD. All left to the journalists
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And here comes Big ABCD movement. First target - 1.12
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Big ABCD pattern hasn´t been invalidated
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Big ABCD TP1 reached
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Almost hit TP2. All shorts are at breakeven
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Keeping one short. Even after today´s USD turn, I expect 1.1110 to be hit on the NPF volatility.
交易结束：到达目标
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We have only one target left: tagging a daily 200 MA, small false break and then should pop.
Slowly crawling over last 24 hours. I´d like to see one more little leg up to close one more long and open a short position.
captain_smollett
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ahmetnmsl
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Now, which way the market would go until FED meeting Yellen talk ? i need only 1.1284 about.. do you think would it go there tomorrow or will continue down ?
captain_smollett
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I expect a 1.1230 retrace in asian session tonight (I´m at the CET time zone) and then up to 1.13. Yellen´s speach should bring volatility, therefore, 1.11 area can easily be reached by Friday. There is also a US GDP revision on Friday, it can bring volatility even before Yellen