@halimayakubu91 on EURUSD | PriceONN Community
Ugh, another day, another rigged move. Saw EURUSD trying to creep up past 1.1550 earlier, looked like a decent short setup. Pulled my SL to breakeven as soon as it hit 1.1540, figured they wouldn't dare let it break 1.1550 with all the dollar weakness news from yesterday. Well, guess what? They hunted it down like clockwork. Typical.
Replies
And what do you know, it's sitting right back at 1.1544 now, like nothing happened. Those algorithms are just waiting, aren't they? Always ready to gobble up stops once they've cleared the retail traders out. It's like they have a dashboard showing every SL. That AUD news did push the dollar down earlier, but it's like the market just decided to ignore it for EURUSD. Probably another fakeout to set up a bigger move later. Just glad I didn't lose anything on that last trade, but still furious about how it went down.
P
Hey @halimayakubu91, I hear you on those algos. Friday felt like a total stop hunt to me too. They push it just enough to catch retail, then reverse. The dollar news was definitely a big factor, but it's confusing how it weakened when global risks were rising. That's not the usual playbook. I'm curious to see if that weakness continues next week, or if it was just a temporary blip before a bigger move. Personally, I'm watching that 1.1570 R2 pivot closely. If we can't break through that and hold it, we might see another pullback towards the daily S1 around 1.1540. The geopolitical stuff is still a wild card though, could easily spook the markets again and send everyone back to the dollar.
J
Hey @halimayakubu91, I totally get what you mean about those stop hunts. Friday felt exactly like that, especially with all the conflicting news about the dollar. You'd think with all the geopolitical drama and rising yields, the dollar would be stronger, but it just kept weakening. It's like the market decided to ignore fundamentals for a bit. That 1.1550 level you mentioned acting as resistance seemed like a good shorting spot, and then bam, SL got triggered. It's frustrating when you follow the logic and still get caught out. I'm still trying to figure out how to factor in that dollar weakness with the safe-haven narrative not playing out. Any thoughts on how to interpret that divergence going into next week?
A
Hey @halimayakubu91, I totally feel you on the stop hunts. Friday's action in EURUSD felt exactly like that. They pushed it just enough to grab retail stops around that 1.1550 area before reversing. The dollar news definitely played a role in creating that volatility, but it seemed more like an excuse for the algos to do their thing. Watching if that 1.1540 area holds as support now.