EXY
EG: Weekly long setupStill no entry yet this week on any trades. On the weekly, you can see a major support zone of 0.85 looking at the longer term timeframes. I feel like from this price that EUR/GBP will push up alot. Multiple 100 pip targets once we score an entry. I think we can break through 0.85, and we can then see some downside movement on pound pairs and then to the upside with plenty of potential. Trades will always be shared with you all live when we take the trade. stay tuned as always.
EU: Daily updateWe are remaining to watch the zone colored green for an entry long on this contract for EUR/USD. We're expecting a downside rejection but until price has reached the lower 1099's we'll be looking for an exact entry. As always stoploss, entry, and targets are provided live when we enter the trade on our end. Stay tuned to our telegram channel for updates. Keep in mind that it's thanksgiving.
Weekly Update (Nov. 25-27th Update)It's been a super quiet day and one of the quiet weeks sor gross volatility so far this entire year. For those asking about why no signals have been sent: we simply can't take opportunities that don't exist. All position less than a 15 pip horizon have been stopped out today by gauging some fo the community outlets I use to gauge market sentiment. I understand a lot of members (especially new members) are getting frustrated because you're in a "signal" group that hasn't posted a trade since market's open. I want to make it clear that this way of thinking is by far the biggest hurdle as a professional trader you will need to make in order to do this for a living. I will add that even if that market doesn't move, we're still behind the scenes 24/7 to make sure we provide every opportunity possible. If you follow what we tell you, and trust us with our ability to vette out only the highest probability, low drawdown, trades that are available in the market. This being said, with slow markets like these I will begin to dedicate my time towards providing educational publications on our Alchemy FX page on Tradingview so keep an eye for that.
We're looking forward to both a profitable day and week of trading. Stay tuned
EU: Weekly long setupEUR/USD Trade setup update: After a 20 pip move up yesterday, anda 20 pip move down today, it's tuff to remain patient with no price action. However, what I've seen is that thursday/Fridays are usually the busiest during the weeks for FX markets right now so don't give up this week just yet! Patience is key this week. I want to make sure it's obvious that when we don't publish trades there's a reason. We don't publish trades to force you to begin to trade when the markets opportunities are ready for execution, and not just trades that are placed simply because it's "tuesday". Not taking trades is just as an important as to knowing how to trade in the first place. Staying out of the market when it's not moving.
The Euro has tapped our zone where we're looking to buy, however we;re looking to buy at support and test the bottom of 1.099 where we will look at specific longs at this price.
EU: Daily neutral setupNo trade for the Euro yet this week (yet), as we continue to deal with illiquid markets that are not allowing any opportunities to be taken advantage of yet this week so far. I'm ideally bullish for the Euro based on a technical perspective, but the fundamentals are why I am neutral until we get a decifson of price action for the Euro this week. Hopefully it will be today or tomorrow. Weekly downside target is 1.09 if 1.1 is broken. Weekly upside target is open as I think there is a lot of upside to the Euro if 1.1 is rejected. I expected an entry soon.
EU: Downside weekly target (neutral setup)Watching 1.1 very closely today for either a rejection to the upside where we can take a long trade, or a break-and-sustain of the price shown in the chart. Being dynamic to either a long or a short entry on a contract for the Euro right now with this structure is key. There are confluences going in favor of both biases, with net short and net long positions right now currently split down the middle. This will be easy to watch for an entry. We use the client sentiment published by multiple brokers combined with options data for expirations this week to gauge reasonable downside targets. The downside target given represents over $1.5bn in options expiring tomorrow on the 27th of Nov at 10am est (Source: Bloomberg Terminal)
Options data: GU, EG (10.25 expiration)Here are the current open options for EUR/GBP and GBP/USD that expire tomorrow at the 10am strike time (NYC, EST.)
GBP/USD
1.2900 $323m
1.3000 $376m
EUR/GBP
0.8500 €1.7bn
Source: Bloomberg Terminal
EU: Weekly price to watchWe'll be looking for an opportunity to enter either short or long on the Euro dollar early this week, as price has reached a key-level, a retracement zone, an area of supply, and a trendline. We are prepared to take either side of this trade.
EU: Weekly long setup 1.1 on the weekly showed a well-defined rejection of the now-current weekly support level of 1.1. Down to the daily, an obvious morning star formation on the breakout of the zone we were watching all week for longs. This was an easy setup to take as the amount of demand at the price has been proven. Those who missed our suggested entry last week can use this chart to secure a long position this week.
Dollar Support at 98 (Friday,11.15)We'll be monitoring 98 as support and if broken will trade accordingly.
