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[GVI Forex 2]

Looking at EURUS battle 1.0550, it’s time to revisit this popular article in our blog

In the world of electronic forex trading where an increasing volume is generated by automated programs, it is amazing that psychological or emotional levels still have a significant impact. It may be that my mind acts as an algo but whatever the case there are pivotal forex trading levels that I use that are as relevant today as they were when I first started trading. One of these is the “50”level.

My Favorite Trading Secret: The Power of the “50” Level

[GVI Forex 2]

No US data today… focus on stocks to set the risk tone

[GVI Forex 2]

EURUSD 1 HOUR CHART – No follow through

How many times have we seen this story?

EURUSD finally ran stops above 1.06 only to find no followthrough on the initial break higher.
‘
For an outside day, 1.0523 would need to be broken.

Otherwise, the magic 1.0550 is back in play as the bias setting level.

[Mtl JP]

Here is Qtn any self-responsible trader needs to answer:
preamble: “In the world of electronic and automated trading programs, it still amazes me that psychological levels are still a factor.”

situation: “hundreds of thousands without power as bomb cyclone slams Washington state, British Columbia”

QUESTION:
WHat is YOUR backup plan to sustain trading and manage your account ? (let alone “dead” tesla in the driveway)

[GVI Forex 2]

XAUUSD 1 HOUR CHART – Will it hold 2600?

Catching a bid above 2600 but would need to break 2641 to suggest more legs to the rebound.

On the downside, 2617-20 support needs to hold or risk shifts back to 2600-07 and the trendline.

[GVI Forex 2]

USDJPY 1 HOUR CHART – Testing resistance

Bid above 155 but would need a firm break of 155.78-80 (teted) to put the recent highs 156.55-75 in play.

On the downside, keeps a bid while above support at 155.35, belown it would expose a return to 155.

[GVI Forex 2]

The first item on my checklist when I start the day is to look at bond yields,

So far today UK yields up the most after UK CPI (touch higher than expected), US (note USDJPY correlation with firmer US yields) and German yields up the least (note EURUSD down after failure to hold 1.06+ and weaker EURGBP)

10 Year bond yield snapshot

[Mtl JP]

12:51 GVI Forex // “In the world of electronic and automated trading programs, it still amazes me that psychological levels are still a factor.”

electronic is irrelevant other than IF there should be a physical breakdown in equipement not allowing acces to priceaction in your account.

psychological levels … ahhhh no need to be amazed by those (like “Jay’s magical 50”), just trade like an amazed 4-6 yr old who just accepts OR trade them like a rational adult who understands he/her/them/it human psychological weakness that is good exploitation tactic of which not to be ashamed but an achillie’s heel opportunity

[GVI Forex 2]

Trump Trade says

Firmer stocks, higher yields, firmer dollar, Bitcoin up

[GVI Forex 2]

Trump Trade say

Firmer stocks, higher yields, firmer dollar, Bitcoin up

[GVI Forex 2]

With EURUSD bouncing from 1.05, USDJPY focued on 155 , USDCAD moving below 1.40 and AUDUSD above .65, all pivotal levels, this article in our blog is worth revisiting.

In the world of electronic and automated trading programs, it still amazes me that psychological levels are still a factor.

The Magic Levels Trading Pattern

[GVI Forex 2]

EURUSD 4 HOUR CHART – Watch 1.06

Can it get any clearer after stops run above 1.06?

Above 1.06, strong bid targeting 1.0663

Below 1.06 cools the risk

[GVI Forex 2]

AUDUSD 4 HOUR CHART – BID ABIVE ,65

Trades bid while above .6500

Next obstacle is .6545-50, above would put ,6580-00 in play,

Sub-6480-00 would bagte the bid.

[michael Calif]

Nov 17 repost:    BTC approaching Option Profile target @96000    :gtwo3

[GVI Forex 2]

BTCUSD 4 HOUR CHART – NEW RECORD BUT

New record high but closing back below the new high.

Forget technicals… just focus on 90K-95K… support while above 90K but need to establish 85K if the bulls are to make a serious run at 100K

[GVI Forex 2]

US500 4 HOUR CHART –        IS THE LOW IN?

The way I look at charts the low at 5835 feels like a bottom that along with a bounce produced an outside day.

There should now see support on dips (unless 5835 is taken out) but would need to get through 5930/40/50 to put the pivotal 6000 back in play,

[GVI Forex 2]

XAUUSD 4 HOUR CHART – Change in direction

The 2 red Amazing Trader lines, a pattern that indicating a [potential change in direction has been confirmed by the move above 2619.

Should 2619 and then 265- broken, then 2675 would become a target.

Fallback support I at 2575-00.

 

[SF Monedge]

Good thing I am maneuverable and skilled at hedging because that EurJpy kept going lol.  It is going back down but I have this little concern called Nvidia.  It is very possible there is another shock surprise and markets go on a tear and Euro goes up with it.  And it seems the fools who are toying with nuclear war are scrambling to fix their mistake and lightening the geo risk a bit.  Can’t be perfect all the time.  Still up 150 points since Sunday night but should be 225.

[GVI Forex 2]

USDCAD 4 HOUR CHART – REACTION TO NEWS

Good example that it’s not the news but the reaction that matters with USDCAD falling after hotter CDA CPI.

The move back below 1.40, which remains the bias setting level needs to hold the 4 hour trendline to contain the downside.

[SF Monedge]

Hedge on EurJpy sell from 38 lifted here at 65 profitable so lets see if it (EurJpy) rolls over….

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