Euro / U.S. Dollar Forum & Chats (CAPITALCOM:EURUSD)

2 hours ago

EUR/USD falls below 1.17 as profit-taking lifts US Dollar

EUR/USD erases some of last Friday’s gains and drops 0.93% as the Greenback stages a recovery, following dovish remarks by Federal Reserve (Fed) Chair Jerome Powell. Expectations that the Fed will cut rates in September triggered the Euro’s (EUR) advance.

ald90039

2 hours ago

well, I sat today out. I got spanked and squeezed on Friday. my bias is that we are reversing the daily bull trend because of lower highs and divergence. they got me on Friday. its my own fault for getting over positioned and not closing out sooner. then today it all came back. the market gave me little extra kick in the balls for good measure.
I though the price action was weird when the bears attacked 1.14. strong impulse down then stalled and then strong impulse back up. then on Friday we had over 70 pips right at 10am in a matter of minutes and finished strong bullish for the day. I kept thinking all weekend what was that move about. all last week the market traded a nice bear trend down then bam Jackson hole 10am. I mean it was right at 10am. the move was planned. I couldn't figure out if the bear trend was manufactured liquidity for a real bull move up or... if the 10am spike was liquidity grab and short squeeze for a true bearish reversal of the daily bull trend. some may the fed cut expectations are jumping around but I don't know. market structure now tells me we are going to attack 1.14 again but I think it's more likely we range for awhile. either way I think these moves are institutional accumulation, I just can't make sense of which way they're planning on going.
I guess it doesn't matter, I've been trying to lock down one momentum strategy and 1% stop. it's hard to wait for your set up. especially when you do bar replay all the time and you pretty much get your results immediately. I think time is actually a challenging part of trading. Let me know if there are any other momentum traders out there, I could use some feedback.