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EURUSD - August slow motion with expectation of unexpected?

Not legal and financial advice;
Any information provided here is only the personal opinion of the author.

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This is pure my expectations, nothing special.
Anyway if you are not trading with algorithms, beware to trade against trend.
Trend is to sell common currency, not to buy already.
In this disposition 1.18 looking as key level and more important then 1.1750/60, imho.
Buy side looks interesting in scalp mode close/above 1.1841 or 1.1854(not scalp),
Buy side scalp mode close/above 1.1796
with sell mode under tgts 1.1796 and 1.1756 respectively.

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Market spread the feeling of a secure bottom and growth prospects. The problem is that growth must be impulsive, and it is painful and hopeless instead.
Sell on higher levels if seen and add sell on downside breaks seems to me more suitable atm.

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You know why? and how? they give you a feeling of protected bottom...
when you look at your terminal, most part of community seen range 1.22 - 1.1720 with auto scale, so downside is lower then monitor and in psychological terms you do not want to believe in downside.

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as you can see without auto scale with price at the middle it is pure neutral with bearish bias.

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Aug, 4 update - As expected yesterday scalp buy level was 1.1841/42...
It is dividing line for today, so my plan to play in terms of price behavior according to this spot level.

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If it holds I expect boring slow trading hours ahead with algos trying to reach sub 1.2 level before reversal to the south.
If not holds we will change our attention to 1.1796 level first then 1.1760/70, something like that.

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As usually market makers collect all stop loss orders below yesterday low and base for most part of intraday algos placed below 1.1854 level.
That is why 1.1841 is so interesting now in terms of further intraday developments.
Once under then market makers decided to collect all trailing stops for north lovers and we will probably already forget about north side for a while.

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The point is that 4H still bullish, that gives every bull a feeling of protection. Seems only under 1.1820 they will surrender, may be never... :)))

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Market makers as usually sold a lot of tickets to bulls for a wonderland above 1.1880 and get everything back under 1.1841. Nearly everyone, except those mythical 4 pct of traders, are stopped and looking like rams on the price at the screens.
Tomorrow very important day regarding my humble calculations, that can mark another lower low within this boring pair.
Trade safe.

AlpacaBlack

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AlpacaBlack

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