Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Recommended Posts

Is it because we hadn't had a Brown P3 yet by 14:05?

And the reason we hadn't had a Brown P3 by 14:05 is because all price action is still contained within the first Tape from Brown P1 to Brown P2 until 14:10?

In other words, we can't have a new P1 of anything until we've had a P3 of the previous thing we were building?

 

One more time... My answer won't give you any confidence. And that is what you need to be able to trade with support, comfort and confidence. Take your answer and apply it to the charts. This is where the confidence will come from.:) It should work anytime. Do not forget to think about the volume pane. It is still important.:) See what happens. You are on the right track.:)

 

One more thing. There might be a kind of rule one could have deduced from the general principles explained in the beginning of the thread, that would go like this: "The market always builds a new point three with every VE it creates." Now you can see what is wrong with this rule.:)

 

HTH.

Edited by gucci

Share this post


Link to post
Share on other sites
One more time... My answer won't give you any confidence. And that is what you need to be able to trade with support, comfort and confidence. Take your answer and apply it to the charts. This is where the confidence will come from.:) It should work anytime. Do not forget to think about the volume pane. It is still important.:) See what happens. You are on the right track.:)

 

To have a P1 of anything we then need decreasing volume.

P1 to P2 has 2 halves of a leg, decreasing to increasing.

So I guess we don't have a P1 at 14'05 because 14.10 has increasing volume over 14.05.?

 

Trouble is I've lost the plot as to why repositioning or even having a new P1 is on the table, other than Spyders reply to Breakeven about a new Traverse P1 being in the wrong position on a chart Breakeven posted ...lol

Edited by zt379

Share this post


Link to post
Share on other sites
To have a P1 of anything we then need decreasing volume.

P1 to P2 has 2 halves of a leg, decreasing to increasing.

So I guess we don't have a P1 at 14'05 because 14.10 has increasing volume over 14.05.?

 

Trouble is I've lost the plot as to why repositioning or even having a new P1 is on the table, other than Spyders reply to Breakeven about a new Traverse P1 being in the wrong position on a chart Breakeven posted ...lol

 

Ok, here is the thing.

 

In order to have a traverse you need your sequence of volume being complete, right? You have it down cold. X2X2Y2X.

 

But there is something else. What else do you need? Your tapes (the price pane). What else? These tapes have to BREAK each other to make a traverse complete and they have to do so in conjunction with volume.

 

What else do you have to pay your attention to when doing your M of MADA?

 

VE right?

 

Why? Because they MIGHT create a new point 3. So in this case your sequence will start anew, restarting your MADA AND replacing your RTL.

 

Why MIGHT?

 

Because not all of VE’s create a new sequence. Some of them are just the remnants of a previous sequence waiting for its completion. So in the example I suggested to work at, the market startet a new sequence at 13:35, but did not do so at 14:05. At 14:05 it just ACCELERATED the comletion of the sequence it started at 13:35. And why? Because it could not complete its 2B before it did its VE of this new sequence.

 

HTH.

Edited by gucci
clarification

Share this post


Link to post
Share on other sites

Just wondering if any devout followers of this method have successfully applied it to markets in real time with real money.

 

 

Simply stated, I am incredibly skeptical that anyone can apply this with any type of long term success.

Share this post


Link to post
Share on other sites
Ok, here is the thing.

 

In order to have a traverse you need your sequence of volume being complete, right? You have it down cold. X2X2Y2X.

 

But there is something else. What else do you need? Your tapes (the price pane). What else? These tapes have to BREAK each other to make a traverse complete and they have to do so in conjunction with volume.

 

What else do you have to pay your attention to when doing your M of MADA?

 

VE right?

 

Why? Because they MIGHT create a new point 3. So in this case your sequence will start anew, restarting your MADA AND replacing your RTL.

 

Why MIGHT?

 

Because not all of VE’s create a new sequence. Some of them are just the remnants of a previous sequence waiting for its completion. So in the example I suggested to work at, the market startet a new sequence at 13:35, but did not do so at 14:05. At 14:05 it just ACCELERATED the comletion of the sequence it started at 13:35. And why? Because it could not complete its 2B before it did its VE of this new sequence.

 

HTH.

Gucci,for a VE to create a new sequence(move to a new point 1) the VE has to occur after point 3(in this case the 2B completed) and when a trader would have been looking for an FTT but instead the market VE'ed the LTL?

Share this post


Link to post
Share on other sites

 

Why MIGHT?

 

Because not all of VE’s create a new sequence. Some of them are just the remnants of a previous sequence waiting for its completion. So in the example I suggested to work at, the market startet a new sequence at 13:35, but did not do so at 14:05. At 14:05 it just ACCELERATED the comletion of the sequence it started at 13:35. And why? Because it could not complete its 2B before it did its VE of this new sequence.

 

HTH.

 

 

Is it because we hadn't had a Brown P3 yet by 14:05?

And the reason we hadn't had a Brown P3 by 14:05 is because all price action is still contained within the first Tape from Brown P1 to Brown P2 until 14:10?

In other words, we can't have a new P1 of anything until we've had a P3 of the previous thing we were building?

And we couldn't have had the P3 until we had a separate container (Tape here 14.10 to 14.20) from P2?

 

I'm hoping the above (in bold)both say the same thing all be it in a different way...what do you think ?

 

To add, I don't think the first Brown LTL is valid at 13.35.

Reason being that we would need a BO of the P1 to P2 Tape RTL to confirm we had a P2.

We don't get that until the 14:15 bar, hence the Brown number P2 at 14:10 and the Brown P3 there after at 14:20.

Imo we are only VE'ing the Magenta LTL.

Had the Brown LTL (the one from where the Brown number 2 is) VE'd then we would be looking for a new P1 after

the Brown number P3...?

 

Am I going mad ..lol ?

Edited by zt379

Share this post


Link to post
Share on other sites
For a VE to create a new sequence(move to a new point 1) the VE has to occur after point 3(in this case the 2B completed) and when a trader would have been looking for an FTT but instead the market VE'ed the LTL?

 

Can you fail to do something you've just completed doing?

 

Can Price Fail To Traverse that which it has just traversed?

 

- Spydertrader

Share this post


Link to post
Share on other sites
Just wondering if any devout followers of this method have successfully applied it to markets in real time with real money.

 

More than a few people have posted their trade execution reports (either on TL.com or on ET.com) indicating they have reached profitability.

 

Simply stated, I am incredibly skeptical that anyone can apply this with any type of long term success.

 

Nobody will care if you remain skeptical right up until the point you begin to make money. In fact, I was skeptical while I was first starting to make money. Ninety-five out of a hundred people dismiss my posts as pure hokum. I've always been cool with that.

 

- Spydertrader

Share this post


Link to post
Share on other sites
Can you fail to do something you've just completed doing?

 

Can Price Fail To Traverse that which it has just traversed?

 

- Spydertrader

Yes the market either FAILS to traverse(ftt's) after completing the order of events or it TRAVERSES(ve's) and continues on for another go around of events until it FAILS to traverse.Where have i read that before?LOL.Thank you spyder and gucci for your patience. Edited by patrader

Share this post


Link to post
Share on other sites
More than a few people have posted their trade execution reports (either on TL.com or on ET.com) indicating they have reached profitability.

 

 

 

Nobody will care if you remain skeptical right up until the point you begin to make money. In fact, I was skeptical while I was first starting to make money. Ninety-five out of a hundred people dismiss my posts as pure hokum. I've always been cool with that.

 

- Spydertrader

 

The question was directed to the followers.

Share this post


Link to post
Share on other sites
The question was directed to the followers.

 

The people participating here aren't 'followers' of any sort. They are here working towards learning something. As such, to direct your question to students makes little sense.

 

Would you ask a Med Student how many surgeries he or she performed successfully?

 

Would you ask a Law Student how many cases he or she has won?

 

Would you ask an apprentice carpenter how many homes he or she has built?

 

If you truely do have an interest in receiving an answer to your question from individuals who have completed the learning process, then you've already been provided the location of the evidence you seek.

 

Look for it, or don't look for the evidence already provided. Makes no difference to me, but you might want to consider the possibility your question has already been asked (and answered) long before you ever posted in this thread.

 

Good trading to you.

 

- Spydertrader

Share this post


Link to post
Share on other sites
The people participating here aren't 'followers' of any sort. They are here working towards learning something. As such, to direct your question to students makes little sense.

 

Would you ask a Med Student how many surgeries he or she performed successfully?

 

Would you ask a Law Student how many cases he or she has won?

 

Would you ask an apprentice carpenter how many homes he or she has built?

 

If you truely do have an interest in receiving an answer to your question from individuals who have completed the learning process, then you've already been provided the location of the evidence you seek.

 

Look for it, or don't look for the evidence already provided. Makes no difference to me, but you might want to consider the possibility your question has already been asked (and answered) long before you ever posted in this thread.

 

Good trading to you.

 

- Spydertrader

 

Ok, so where do I find a student of this method who has received a degree like a med, or law student eventually receives and is achieving success the way a lawyer or doctor does?

 

The sources you provided seem to have students and no degreed traders achieving success.

 

Are you trading it successfully or are you just the president and not a client?

Share this post


Link to post
Share on other sites
The sources you provided seem to have students and no degreed traders achieving success.

 

The only measure of success a trader needs is the direction of his or her trading account.

 

Within this thread, within other threads on this web site, and within numerous threads on elitetrader.com's web site, people (including myself) have posted their trade blotters showing their levels of success.

 

Choosing not to go locate the evidence you seek, is far different than acting as if the evidence doesn't exist.

 

Are you trading it successfully or are you just the president and not a client?

 

I've traded using the Price / Volume Relationship since 2006 - first with equities, and now, exclsuively with futures. Trading, currently (and for the last 6 years), represents my only source of income.

 

You can locate an entire year of my equities trades (and their execution reports) on ET.

 

You can locate several of my futures trades over on ET using 20 - 40 ES contracts.

 

You can locate trades made by people who studied the Price / Volume relationship in this thread, in other threads on this web site, and also, over at ET.com's web site.

 

I don't make a dime if you read the information I have shared, and I don't lose a dime if you don't read it. Nothing is for sale here. When I present at the Traders Expos (NYC or Las Vegas), I do not charge for my time. Any fees ($50 bucks at the NYC Expo and $100 at the Vegas Event) went to defray the cost of room rental, lunch, dinner, dessert and drinks.

 

Read what's here, or don't. It really makes no difference to me. Either way, may you enjoy success in your future endeavors.

 

Good Trading to you.

 

- Spydertrader

Share this post


Link to post
Share on other sites

Any thoughts on the two annotation options in the attached screenshots? In the first, I regard the upward movement from the 10:20 (close-of) bar as a tape that pushes out to a new pt 3 of the medium short container. In the second, it is annotated as a full traverse.

 

In the previous attempt I annotated it as the traverse, but it feels like I have to torture the gaussians to match the drawn thin containers. How should one choose between the interpretations?

10131b.thumb.gif.470d73e9da561ffa40b68c4a5593be2a.gif

10131a.thumb.gif.a11285374a188d651912e8fd65ab3f98.gif

Share this post


Link to post
Share on other sites
How should one choose between the interpretations?

 

You should consider the effect changing Pace has on your ability to 'see' things clearly, and start again. You should also consider annotating three fractals in an effort to see how the nesting process works. Sometimes proper nesting of fractals can make things a bit easier to see.

 

- Spydertrader

Share this post


Link to post
Share on other sites
Any thoughts on the two annotation options in the attached screenshots? In the first, I regard the upward movement from the 10:20 (close-of) bar ...
I believe the upward movement starts earlier than you annotated.

Share this post


Link to post
Share on other sites
I'm hoping the above (in bold)both say the same thing all be it in a different way...what do you think ?

 

To add, I don't think the first Brown LTL is valid at 13.35.

Reason being that we would need a BO of the P1 to P2 Tape RTL to confirm we had a P2.

We don't get that until the 14:15 bar, hence the Brown number P2 at 14:10 and the Brown P3 there after at 14:20.

Imo we are only VE'ing the Magenta LTL.

Had the Brown LTL (the one from where the Brown number 2 is) VE'd then we would be looking for a new P1 after

the Brown number P3...?

 

Am I going mad ..lol ?

 

Note how you just omitted to mention VE in your second quote highlited bold and still want it to express the same as the bold stuff in the first quote.

Share this post


Link to post
Share on other sites
Note how you just omitted to mention VE in your second quote highlited bold and still want it to express the same as the bold stuff in the first quote.

 

Yes I see what you mean.

I think it was a case of my brain knowing what it was thinking without realising it wasn't on the printed page.

The subject matter moved onto VE's and new P1's so I was grappling with that

as further information, and then began to realize how it related to my initial questions about fractals,

for which I would like to thank you gucci.

It has been a further and welcome insight.

Thank you.

 

If I may ask for your continued patience, I would like to re-iterate from

your post # 2373, and my question in post#2374

 

I knew this because the market changed pace on 16:35 bar and didn’t return to dominance yet. Look at the price bar and volume. Furthermore all of this transpired in an accelerated B2B container.

and my questions...

Would I be correct to say that the green rtl on your dax chart is your accelerated ?

If so then you wouldn't have accelerated that until the close of the 16:35?

If so I'm a bit confused by that last sentence above I've put in in bold?

 

16:35 on your Dax clip closes above it's open and outside the range of the previous red bar, but you still considered it as a non dom bar. I shall have to ponder on why.

I'm hoping the reason is definitive ?

 

My continued thanks gucci...

5aa7103eaf208_GucciDax3.thumb.jpg.710e8ed23d803cead449e609771de0d1.jpg

Edited by zt379

Share this post


Link to post
Share on other sites
You should consider the effect changing Pace has on your ability to 'see' things clearly, and start again.

 

- Spydertrader

 

I am not exactly sure what you mean by Pace. I have done some searching and can't decipher if it is just volume levels/peaks or the speed that a fractal completes or the volatility of price.

 

Could you give us a bit of a primer on what exactly Pace is?

 

Thanks very much!

Share this post


Link to post
Share on other sites
The only measure of success a trader needs is the direction of his or her trading account.

 

Within this thread, within other threads on this web site, and within numerous threads on elitetrader.com's web site, people (including myself) have posted their trade blotters showing their levels of success.

 

Choosing not to go locate the evidence you seek, is far different than acting as if the evidence doesn't exist.

 

 

 

I've traded using the Price / Volume Relationship since 2006 - first with equities, and now, exclsuively with futures. Trading, currently (and for the last 6 years), represents my only source of income.

 

You can locate an entire year of my equities trades (and their execution reports) on ET.

 

You can locate several of my futures trades over on ET using 20 - 40 ES contracts.

 

You can locate trades made by people who studied the Price / Volume relationship in this thread, in other threads on this web site, and also, over at ET.com's web site.

 

I don't make a dime if you read the information I have shared, and I don't lose a dime if you don't read it. Nothing is for sale here. When I present at the Traders Expos (NYC or Las Vegas), I do not charge for my time. Any fees ($50 bucks at the NYC Expo and $100 at the Vegas Event) went to defray the cost of room rental, lunch, dinner, dessert and drinks.

 

Read what's here, or don't. It really makes no difference to me. Either way, may you enjoy success in your future endeavors.

 

Good Trading to you.

 

- Spydertrader

 

Well it certainly is a rare event when I meet someone who is so selfless.

Share this post


Link to post
Share on other sites
Could you give us a bit of a primer on what exactly Pace is?!

 

See those lines in the Volume Pane? Those are different Pace Levels (VDU, DU, Slow, Medium, Fast and Extreme). In the beginning of this thread (First couple of pages), I posted a graphic showing the relationship between Volitility (Price) and Pace levels (Volume). Others (cnms2's posts come to mind, along with a few others) have provided guidance with respect to what one can expect with certain types of Pace Changes.

 

- Spydertrader

Share this post


Link to post
Share on other sites
Well it certainly is a rare event when I meet someone who is so selfless.

 

What is your point? Don't show us how witty you are. Just spit it out.

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.

  • Topics

  • Posts

    • USDJPY PRICE OUTFLOW IS DRAWN BY SELLERS BACK TO 114.840   USDJPY Price Analysis – November 25 USDJPY price outflow is being held back as a consequence of bears causing opposition to the market influence. The price structure of the market strives to maintain an uptrend configuration under a bullish influence. However, the sellers are causing some resistance in the market, which is causing a hold in the market configuration. Because of this conflict in the market, the outflow of the bulls in the market will be held back to the 114.840 critical level. USDJPY Critical Levels Resistance Levels: 114.840, 112.790 Support Levels: 110.800, 109.100 USDJPY Long Term Trend: Bullish The bullish outflow price structure initially began with the expansive breadth of consolidation. The market was birthed after a strong price expansion before the bullish uprise. The price undulated between the breadth of the 110.800 and 109.100 significant price levels. As a result of this accumulation, the price was then pushed out to higher levels. With the continuation of the market expansion, buyers outflow upward, with the bulls taking hold of the market. Furthermore, price continues to experience more outflows as several structural levels were broken. When USDJPY eventually gets to the 112.790 level, the price resumes its accumulation phase. The market encountered a short phase of expansion before resuming bullish persistence. The price finally breaks through the 114.840 significant level and we expect a withdrawal back to this price level before bullish engagement. The Tensile Strength indicator shows the resilience of the market influence as the market is set to resume its bullish leverage after sellers retreat. USDJPY Short Term Trend: Bearish The 4-hour chart of USDJPY shows the price configuration riding upward following a strong force that broke through the 114.840 critical level. The price is now set in a retreat motion as the price is seen to be pulling away to the 114.840 price level. The Moving Average Convergence and Divergence indicator shows the market’s prevalent direction as the price is set on a pullback course to the 114.840 critical level before bullish outflow.   Source: https://learn2.trade
    • EURJPY DEPRECIATES TO LOWS NEAR 128.00 FOLLOWING COVID RESURGENCE   EURJPY Price Analysis – November 26 EURJPY pair fell for the third session in a row on Friday, depreciating to the area of recent lows in the 128.00 range. As the new strain of COVID weighs heavily on investors’ sentiment, strong buying interest in the Japanese yen puts EURJPY under added pressure in the sub-129.00 levels. Key Levels Resistance Levels: 130.50, 130.00, 129.61 Support Levels: 127.00, 126.50, 126.00 EURJPY Long term Trend: Ranging On Friday, the EURJPY opened higher at 129.31 and moved lower to 127.79 intraday lows losing almost 1%. The pair plunged, as bears emerged and traders focused on levels below 128.00. To investigate the bearish scenario, a decisive fall below 128.00 must be established. The pair may continue to fall into the next session, with bearish traders targeting the 127.00 area as a possible objective. As long as the 128.00 support level holds and the price is sustained above, more gains may be expected. A strong breakout of 128.50, on the other hand, would confirm that the rebound from 127.79 low has come to stay, bringing this low back into focus as a new bottom. EURJPY Short term Trend: Bearish The EURJPY is still trading bearishly from its October high of 133.47 on the 4-hour charts, and the intraday bias is still to the downside. If the resistance at 128.50 holds, a further drop is likely. A decisive rebound past 128.50, on the other hand, will consolidate on the entire rebound from 127.79 low level. The mid-term support turned resistance level of 130.00 will be the next level of contention. A break of revised support around the 128.00, on the other hand, might reverse the rebound and broaden the down leg from 130.00 with a new phase of the drop towards the mid 127.00 in the coming session.   Source: https://learn2.trade
    • Date : 25th November 2021. Market Update – November 25 – Solid US data lifts USD, Stocks, & Yields. USD (USDIndex 96.70) holds on at 16-mth highs; Strong set of US data yesterday GDP (2.1%) up a tick but missed by a tick, Claims (199k) at 52-yr low, PCE (0.4% m/m & 4.1% y/y), in-line & largest since Jan.1991, along with a big beat (5.9%) for GDP Price index, Durable Goods (0.5%) in-line, Personal Spending (1.3%) a big beat, Personal Income (0.5%) a beat, Trade balance a big beat (14.6%) on strong Exports, Inventories (-2.2%) a big miss, but shows demand is strong. Consumer Sentiment a beat and New Home Sales flat (745K) and missed. Stocks & Yields pushed higher, Oil held onto gains and Gold tested 3-week lows.   The FOMC Minutes showed (1) there could be a faster taper than the $15bn/mth currently planned, (2) Inflation could indeed be “persistent” (3) Clear division over 2022/23 rate hike cycle, Doves hold sway for now. US Yields 10yr trades at 1.644%, down from yesterday’s 1.694% high. Equities – Gains into the Holiday USA500 +10.76 (0.23%) at 4701 – USA500.F trades higher at 4713. USOil – peaked at $78.53 Inventories +1.0 vs -1.7 weakened prices – now at $77.65 Gold found a floor at 1782, but struggles to recoup $1800 at $1790. FX markets – EURUSD now 1.1216, having broken 1.1200, USDJPY now 115.36, from 115.50 & Cable back to 1.3350 from 1.3315 yesterday. Overnight – JPY PPI (1.0%) hit a 10-yr high, German GDP and consumer confidence both missed (1.7% vs 1.8% and -1.6% vs -1.0%) respectively. European Open – December 10-yr Bund future up 16 ticks, while US futures are slightly in the red. Bunds already outperformed yesterday, as EZ spreads widened in the wake of hawkish leaning ECB comments & confirmation that German finance ministry will go to the liberal FDP, which likely means more resistance to debt mutualisation across the EZ & more pressure on ECB to limit asset purchases. DAX & FTSE 100 futures are currently up 0.4% & 0.3% respectively & US futures are posting gains of 0.3-0.4%, suggesting markets are coping quite well with the prospect of less accommodative policies. Indeed, it seems to an extent that they welcome the CB’s acknowledgement that inflation risks could be less temporary than previously thought. Today – ECB Minutes, ECB’s Elderson, Schnabel, Lagarde and BOE’s Bailey Biggest FX Mover @ (07:30 GMT) CADJPY (0.20%) The rally from Tuesday’s low under 90.00 has been sustained with 91.25 being tested earlier today. MAs aligned higher, MACD signal line & histogram rising & over 0 line, RSI 61, H1 ATR 0.077, Daily ATR 0.707. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Date : 24th November 2021. Market Update – November 24 – USD & Yields Higher, Stocks Mixed, Oil Recovers. Trading Leveraged Products is risky USD (USDIndex 96.50) holds on at highs; EM currencies under particular pressure. (TRY lost 15% after Erdogan refused a rate rise). RBNZ raised rates but NZD fell (like the last time they raised rates!) JPY Inflation 2 ticks better than expected. USDJPY at January 2017 levels around 115.00. PMI data better across the globe, Stocks mixed in US & Asia, Yields bid, Oil recovered significantly and Gold pressured by yields. Biden invites Taiwan to its “Summit for Democracy”, WHO talks of additional 700k Covid deaths across Europe (Slovakia latest to talk lockdowns). US Yields 10yr trades at 1.667%, down from yesterday’s 1.684% high. Equities Mixed. Musk sold more stock, Banks & Oil majors lead. USA500 +7.76 (0.17%) at 4690 – USA500.F trades lower at 4684. USOil – rallied over 3% to $78.20 highs despite global strategic reserves being sold to cool prices. Gold found a floor at 1782, but struggles to recoup $1800 at $1790. FX markets – EURUSD down to 1.1245, USDJPY over 115.23, earlier now at 114.88 & Cable back to 1.3375. European Open – December 10-yr Bund future up 26 ticks, US futures also broadly higher. RBNZ delivered expected rate hike & markets seem to be scaling back fears of escalating inflation as even dovish leaning BoE & ECB members highlight risk of second round effects. ECB VP Guindos highlighted overnight that the drivers of inflation are becoming more structural, which adds to signals that the CB is finally ready to start reining in stimulus. DAX & FTSE 100 futures currently up 0.3% & 0.2% respectively. Today – Big data day ahead of Thanksgiving Weekend. – German Ifo, US Weekly Claims GDP, PCE, Durables, FOMC Mins. & ECB speak Biggest FX Mover @ (07:30 GMT) NZDJPY (-0.77%) RBNZ in-line but Dovish, sank from breach of 80.00 yesterday to 79.24, and 79.40 now. Faster MAs aligned lower, MACD signal line & histogram falling & below 0 line, RSI 35 & weak, Stochs OS. H1 ATR 0.17, Daily ATR 0.70. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • EURUSD HOVERS NEAR MULTI-MONTH LOW, UNDER 1.1250 LEVEL   EURUSD Price Analysis – November 24 Throughout the session, the EURUSD pair remained on the losing side and was last seen moving with considerable losses around the 1.1250-36 level. The announcement that the White House has opted to reappoint incumbent Fed Chair Jerome Powell for a second term sparked the recent strong dip. The spot is trading at 1.1253 at the time of writing, down 0.25 percent on the day. Key Levels Resistance Levels: 1.1525, 1.1422, 1.1300 Support Levels: 1.1200, 1. 1150, 1.1100 EURUSD Long term Trend: Bearish EURUSD has sunk to fresh multi-day lows, as seen on the daily chart, after extending the recent breach beneath the moving averages 5 around the 1.1300 level. This exposes the possibility of a deeper pullback and a re-test of the psychological support around 1.1200. Under the 1.1200 level, the euro’s underlying bullish attitude is in jeopardy. Overall, the EURUSD stays bearish while trading under the major horizontal support turned resistance and significant level at 1.1422. A breakout of the 1.1300 level, on the other hand, would aim for the 1.1350 level on the way to the 1.1400 zones. The fall of the 1.1200 zones, in the alternative scenario, is viewed as a bearish continuation indicator. EURUSD Short term Trend: Bearish The risk is weighted to the negative on the 4-hour chart, as the pair is developing below the firmly bearish 5 and 13 moving averages. Technical indicators have shifted to the downside, with negative levels. However, in the present scenario, the RSI has not yet reached oversold territory, allowing for more selling. On the upside, a break over the modest resistance level of 1.1300 might shift the intraday bias to neutral. On the downside, the 1.1200 zones provide initial support. The next important level of support is around the 1.1150 mark. If there are any more losses, the 1.1100 extension level of the low decline may be tested. Source: https://learn2.trade 
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.