WealthBuilder99
New member
- Joined
- Oct 28, 2026
- Messages
- 1
Yo everyone, hope you’re all having a green week and not geting chopped up by this volatility. I’ve been staring at the screens since 5am and honestly, the setups forming right now are making my eyes bleed but in a good way lol. There is so much going on with the central bank stuff and these specific levels on the majors that I just had to jump on here and break down what I’m seeing before I lose my mind.
First off, we gotta talk about EURGBP because this thing is literally scraping the bottom of the barrel. We are sitting right at that 0.8361 level which is basically a multi-month low at this point. If you look at the daily, we had that massive rejection on Monday—long upper shadow, super bearish—and now it’s just consolidating. The fundamentals out of Europe are looking pretty trash tbh, especially with that French consumer confidence data hitting the floor. It feels like everyone and thier mother wants to short this into oblivion, but the RSI is screaming oversold. I’m seeing some serious headwinds for the bears here even tho the trend is clearly down. I’m personally waiting for a liquidity grab below 0.8350 before I even think about a scalp long, because if it loses that level, it’s going to be a total bloodbath. Don't fomo into a short right at the support, that's how you get rekt.
Speaking of getting rekt, did you guys see the update on the "Crypto King" Aiden Pleterski? Closing arguments are happening in Canada right now. It’s wild to see that whole Ponzi scheme finally hit the jury. It’s a good reminder for all of us that no matter how much TA we do, the "get rich quick" stuff is usually a trap. I remember back in 2021 when I first started really diving into crypto, I almost threw a bunch of money into a "guaranteed" yield farm that turned out to be a rug pull. I only didn't do it because my stoploss on a different trade hit and I didn't have the liquid cash at the moment. Total luck. Since then, I’ve been a massive advocate for DCA and actually understanding the underlying asset rather than following some "king" on Instagram. Stick to the charts, they don't lie as much as people do.
Now look at the Loonie. CAD has been on an absolute tear, seven days of straight rallying. But it’s finally steadying today because we have those rate decisions coming up. This is the classic "wait and see" mode for the big players. I’m watching the USDCAD pair like a hawk. If the BoC comes out more hawkish than expected, we could see CAD smash through some more resistance, but after a seven-day run, a retracement is super likely. I’m looking at the 1.3550 area as a potential bounce zone if we get a pullback. If you're chasing the rally now without a clear entry, you're just asking for a bad time. I usually like to see a 38.2% Fib retracement at least before I jump back into a trend this extended.
I was actually testing a new scalping strat this morning on the 5-minute charts using a combo of EMA crosses and volume profiles. It’s tough when the market is this tight ahead of news. I took a small paper loss on a CAD trade earlier because I tried to front-run the momentum and got caught in a whip-saw. Just goes to show that even when the daily looks like a straight line, the lower timeframes will eat you alive if u aren't careful.
The negative fundamentals for the Euro are real though. It’s not just the French data; the whole sentiment across the pond feels heavy. But the "oversold" condition on EURGBP is making it a dangerous game for shorts right now. I’ve seen this movie before where everyone is bearish at the bottom, and then a tiny bit of news causes a massive short squeeze that clears out all the late-comers. I'm keeping my position sizes small and my stops tight. This isn't the week to go all-in on anything with all these rate decisions looming over us.
Are you guys holding any CAD positions through the news or are you flat? I'm thinking about just sitting on my hands for the next 24 hours to see how the dust settles because my last three trades have been breakeven at best and I dont want to tilt.
First off, we gotta talk about EURGBP because this thing is literally scraping the bottom of the barrel. We are sitting right at that 0.8361 level which is basically a multi-month low at this point. If you look at the daily, we had that massive rejection on Monday—long upper shadow, super bearish—and now it’s just consolidating. The fundamentals out of Europe are looking pretty trash tbh, especially with that French consumer confidence data hitting the floor. It feels like everyone and thier mother wants to short this into oblivion, but the RSI is screaming oversold. I’m seeing some serious headwinds for the bears here even tho the trend is clearly down. I’m personally waiting for a liquidity grab below 0.8350 before I even think about a scalp long, because if it loses that level, it’s going to be a total bloodbath. Don't fomo into a short right at the support, that's how you get rekt.
Speaking of getting rekt, did you guys see the update on the "Crypto King" Aiden Pleterski? Closing arguments are happening in Canada right now. It’s wild to see that whole Ponzi scheme finally hit the jury. It’s a good reminder for all of us that no matter how much TA we do, the "get rich quick" stuff is usually a trap. I remember back in 2021 when I first started really diving into crypto, I almost threw a bunch of money into a "guaranteed" yield farm that turned out to be a rug pull. I only didn't do it because my stoploss on a different trade hit and I didn't have the liquid cash at the moment. Total luck. Since then, I’ve been a massive advocate for DCA and actually understanding the underlying asset rather than following some "king" on Instagram. Stick to the charts, they don't lie as much as people do.
Now look at the Loonie. CAD has been on an absolute tear, seven days of straight rallying. But it’s finally steadying today because we have those rate decisions coming up. This is the classic "wait and see" mode for the big players. I’m watching the USDCAD pair like a hawk. If the BoC comes out more hawkish than expected, we could see CAD smash through some more resistance, but after a seven-day run, a retracement is super likely. I’m looking at the 1.3550 area as a potential bounce zone if we get a pullback. If you're chasing the rally now without a clear entry, you're just asking for a bad time. I usually like to see a 38.2% Fib retracement at least before I jump back into a trend this extended.
I was actually testing a new scalping strat this morning on the 5-minute charts using a combo of EMA crosses and volume profiles. It’s tough when the market is this tight ahead of news. I took a small paper loss on a CAD trade earlier because I tried to front-run the momentum and got caught in a whip-saw. Just goes to show that even when the daily looks like a straight line, the lower timeframes will eat you alive if u aren't careful.
The negative fundamentals for the Euro are real though. It’s not just the French data; the whole sentiment across the pond feels heavy. But the "oversold" condition on EURGBP is making it a dangerous game for shorts right now. I’ve seen this movie before where everyone is bearish at the bottom, and then a tiny bit of news causes a massive short squeeze that clears out all the late-comers. I'm keeping my position sizes small and my stops tight. This isn't the week to go all-in on anything with all these rate decisions looming over us.
Are you guys holding any CAD positions through the news or are you flat? I'm thinking about just sitting on my hands for the next 24 hours to see how the dust settles because my last three trades have been breakeven at best and I dont want to tilt.