[SF Monedge]

Currently on the buy side of Usd/Hkd (Hong Kong) from just below current market (which is 8195)

[Belgrade Knez]

Bobby 12:52 pm

Understand what you saying ….. I am in this business since 2001. and my intraday trading based on 5min, 15min and 1h …… daily, weekly and monthly using for the direction and support/resistance levels

[Belgrade Bobby]

BTC – I can see 50% retracement, and an ugly one – sharp and merciless.

But the problem is there is no enough data to support anything…

Problem with BTC is that people are seeing it as a currency , but it is really a merchandise of a kind…useless in my opinion- but who am I to judge it….millions of people are buying it like there is no tomorrow…without thinking that it is a Profit game and not lifelong investment.

Plus it is an open ended game , without firm rules and real backup of it’s value.

Someone makes and will make huge profits on it, but not the small fish…

[GVI Forex]

The US political season has started earlier. Negative Trump comments about Meta (not the stock price but the company)_ in a CNBC interview are pushing the stock lower.

[GVI Forex]

BTC Daily Chart

When Bitcoin first was created I called it a Ponzi scheme. While I have not changed my mind about cryptos I would be an idiot to trade on that view given this rocket to the moon.

BTC rose about 4% to a new record high before backing off a touch but maintaining above the former record high (blue AT line).

By contrast, EURUSD has traded a 19 pip range so far today.

For the record, I do not trade BTC and have no intention of doing so.

[Belgrade Bobby]

Knez, there is a huge difference in strategy when trading anything bellow 30 min chart.

With 30 min, I follow what’s happening on 4h and Daily, and decide on entry depending are we actually moving Up or Down.

On smaller time frames ( and I find 3min the ideal one ) I don’t care where are we moving…just follow signals that I am getting . Of course, everything is smaller – Profit but also S/L .

I do it last two decades, so I have kind of feeling for it, but wouldn’t recommend it to anyone without huge experience – it can easily drive you crazy 😀

p.s. had to add that last sentence because of other visitors .

[SF Monedge]

JP (1:13)  –

Resting purchase Aud/Usd at 6594.

Resting purchase Usd/Jpy 146.24

Of interesting note:  “All economic models are wrong, but some are useful,” Huw Pill concluded in a letter to lawmakers last June that laid out the limitations of prediction methods.  “We should really be thinking of economic forecasts in terms of probability distributions,” said Stephen Millard, deputy director of Britain’s National Institute of Economic and Social Research, who spent more than 26 years at the BoE.

[Belgrade Knez]

Bobby 12:25 pm

I prefer 5min TF in narrow market

[Belgrade Bobby]

Now let’s move to 30 min chart , if we want to trade something today…

Fibo retracements

 

[Belgrade Bobby]

EURUSD 4h time frame

Bullish

Resistances :  1.09650 & 1.09800

Supports : 1.09300 , 1.09200 & 1.09050

Pattern suggests that another attempt Up is in the cards

Failure to reach the New High will start the creation of the deeper Correction.

 

[GVI Forex]

USDJPY DAILY CHART

As noted last week, the break of 147.61 exposed 145.90 as the next target.

Another test just below 146.50 suggests this will be the pivotal level determining whether there will be a run at 145.90 and then 145.

As also noted (when USDJPY traded below 148), expect a limited USDJPY upside ahead of the March 18-19 BoJ meeting where there is a risk of the neverending story of a rate hike to bring Japan out of negative interest rates finally reaching a conclusion.

Range so far today 146.48-147.13

[Forex Cycle]

USDJPY Technical Analysis: Key Levels and Potential Scenarios

USDJPY’s downward momentum from 150.88 has extended to a low of 146.47, currently testing the support level at 145.89.

The initial resistance level is located at 147.25. As long as this resistance level remains intact, the downside move is likely to persist. A potential breakdown below the 145.89 support level might trigger further downside movement towards the 144.30 area.

On the upside, a decisive breakout above the resistance level at 147.25 would suggest that consolidation for the downtrend is underway, with the pair potentially encountering resistance around the 148.00 region.

[Belgrade Knez]

starting from today and for next three weeks, US is one hour closer to Europe, hence NY open and NY cut are one hour earlier than usual for Europeans

[GVI Forex]

(Reuters) – A look at the day ahead in European and global markets from Wayne Cole.

So Japan isn’t in recession after all. Revisions now put economic growth at +0.1% q/q in the fourth quarter, instead of -0.1%, so nullifying all the media lamentation about Japan’s contraction.

Morning Bid: Accentuating the positive at the BOJ

[GVI Forex]

THIS WEEK’S MARKET-MOVING EVENTS (all days local)

The US CPI on Tuesday is expected to remain overheated, at a 0.4 percent monthly rise overall and a 0.3 percent gain for the ex-food ex-energy core that would leave the latter at an expected 3.7 percent and nearly double the Federal Reserve’s target. Shelter costs will likely still be elevated, while other services like insurance premiums are seeing new hikes.

India’s CPI on Tuesday is expected to edge only 1 tenth lower to 5.0 percent with UK wages, also on Tuesday, likewise not expected to cool very much to 5.7 percent. Yet the UK’s monthly GDP report on Wednesday is expected to offer good news with a 0.2 percent gain.

US retail sales on Thursday are seen rebounding but not US industrial production on Friday where another flat result is the consensus. US consumer sentiment for early March will wind up the week’s calendar with what is expected to be a small gain on top of recent large gains.

Econoday

[Mtl JP]

REMINDER
–
Equating Bullmarket with Brains = Mistake

[GVI Forex]

US clocks sprung forward on Sunday so an extra hour of trading with Europe and the UK

[GVI Forex]

AUDUSD Daily Chart – Focus on the breakout level

Breakout above .6624 and then retreat towards it. A large wick at the high suggests the possibility of a pause but only if AUDUSD moves back below.6624.

Only below .6595 would put it back into its old range, making .6595-6624 a support zone.

The 4-hour chart shows .6613 as a local support.

[GVI Forex]

Week Ahead from Newsquawk.com

Next week, highlights include US CPI and Retail Sales data, GDP and the Labour Market report from the UK, while the 1st tally of the Japan Rengo wage talks will be key, as will China inflation data

Week Ahead 11-15th March

Sat: Chinese Inflation (Feb)
Sun: Japanese GDP (R)
Mon: Eurogroup Meeting; Norwegian CPI (Feb)
Tue: NBH Announcement, EIA STEO, OPEC OMR; UK Labour Market Report (Jan/Feb), US CPI (Feb)
Wed: UK GDP (Jan)
Thu: IEA OMR; Swedish CPIF (Feb), US PPI (Feb) and Retail Sales (Feb)
Fri: Quad Witching, PBoC MLF, Japan’s Rengo (labour union) 1st Pay Tally; US UoM Prelim (Mar),

See our Economic Calendar

[Belgrade Bobby]

Very nice job Frano. You lifted it to all new level 😀 Do you mind if we share your postings over the net through our network ?

[Author]

Posts