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1 Attachment(s) Reckon by the end of the day it will be about where it started the day,,, have a great weekend all . cheers |
 You are absolutely right, it was extremely hard to predict something today, and I hate NFP Friday’s, but those 1.2083 NFP spike looks like first step for some bearish movement incoming next week... I keep my eyes opened for any reversals ofc |
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1 Attachment(s) At the moment the situation is as shown on the graph. Yellow triangles are showing biggest High and Low of the mouvement with change of direction. Previously I have sold because we were at a lower high but I have been stopped as the lower high has been exceeded. So now we are going up. I hope it can help. Nice evening |
Looking thru all this data i would believe that it is going to go down as well. But i dont want to pull a rookie move here...I am short right now but i am negative as of now, should i close this trade before the weekend? |
Clearly i would advice to close the bearish position. Statiscally you have more chance to be more in the red monday but it is only my position and I might be right or wrong. You have to make your choice and commit it. Kindly |
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 Just thought of that |
Your SL will be ignored if price opens way higher than your actual SL and your broker will close your trade from market opening price. Dangerous if market opens with big gap and you have not enough money based on your lot size. But if you calculated in that the market could open with a 50 to 100 pips gap and picked a lot size according to that or you know you have enough equity to survive a 100 pips gap then no problem. Otherwise your equity goes to 0 or even minus and depending on your broker policy you might even owe your broker serious amount of money. But let's face it.. if your lot size is small.. and you already accept worst case scenario if market opening 50 to 100 pips against you beyond your SL then nothing to fear. But for take profit level brokers will not assume the market opening price in case it opens much higher than your TP level they will not pay you the bonus gains and assume only your TP was hit. That's really annoying but that's how these robbers built the system. So be aware if this and always decide based on your current trade situation. My half cents. Stay Green |
Good day / night to you you my fellow traders. New Year started very interesting. I hope it's also started good for you guys. 3.5% for this week. Fewer and fewer trades I take per week but they all well calculated. Here is my thoughts for a new year: not sure what to do with Euro itself yet but Dollar is definitely on my radar 24/7. If I understood Tax Deal right, it will bring a lot of money to government in short term which means we are going to see some inflation number changes this year for sure. A lot of new names in Fed and Government this year so a lot of surprises expected as well. Not really sure if we are going to see 1.30-40 on EU this year but who knows. And I don't really trying to predict that far anymore. Trading one week at the time. Following charts and fundamentals. Last week I was expecting small pull back around 20 but miscalculated for almost 60 pips. I guess it all happened on thin market and weak dollar data. Hopefully the winter vacation time is over and we will see full capacity next week. |
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Think all my predictions have been in line when i have posted i hope i have helped some of you make money with my tips over this week. Everything is on the charts in front of you its all price action with supply and demand thrown in. Bearish move was ment to have finished apparently over an hour ago, around 1.204 as some said but i did say 1.200 now look bearish momentum out of no where right before the close i bid you all a fine weekend and like i say for those who have read what ive been posting i hope i made you some good green pips. |
What is striking IMHO is that EURUSD broke 1.20 in thin trading last Friday for 2017 close and has not looked back so far; but it has not managed to break the 2017 highs either. That bodes well for some action next week Enjoy your week-end everybody! |
Many thanks for this forum and the spirit you have built into it. I am slightly surprised by your statement on the TP : it has already happened to me to be "luckily gapped above TP" on NZ open, and my broker paid me the opening price (of course with a larger spread than usual, but still reasonable), not the TP. I guess I have a good broker then! |
However looking at price action just before the close it shown strength which bring me to my price action principle 6 (there is 6 but im sure ive said this is principle 2 before however principle is principle lol) PA principle 6 "If strength is shown on approach to a S/R level, (in this case i have 1.202 marked with 1.200 being my swing low leading to highest high) we expect a breakout, we watch the breakout for clues as to future direction." As you can see strength was shown to what i class as minor support at 1.202 which is why i was expecting this level to brake down to 1.200 where i would then look at price action as to tell me where to go. A break of my swing low were bearish id look for acceptence of price via a break out followed by a test of support becoming resistance via weak bullish movment at that point id short If price broke my swing low but shown weakness on the breakout low id wait for my resistance to become support again via a test of price once it pulled back in and shown signs of weakness to the bears coming into the support, there i would long especially because price could not break the swing low leading to the highest swing high id be bullish (as i still am now) Hopefully that makes sense to some new traders amongst us. |
1 Attachment(s) Not out of the ordinary for both ends of a news spike to be tested ,,,,,,,not advocating either way . The eur did end on some what of a weak note but still above last quarters high . For those who are addicted to trading I will give you all something to do some back checking on . On the big news releases such as employment and especially interest rate decisions from central banks there is usually a distinct pattern that develops where on the release if you like playing chess and entering before the release it may help your odds , I have a friend who says its probably the robber banks and their way to fleece the ole retail trader ,he is probably right lol,,,,,,,,, and why most older traders who were successful at it will tell you,,,, ah big deal have a fresh cup of coffee and watch the sheet show and wait till the dust settles then have a look ,,,,,lol couple charts with a,,,, 5 sec chart,,,, tucked in the middle . You see that pattern start developing before a news release what happened today is always gonna happen regardless of what the news actually was . The nfp dont move the mkt like it use too back in the wild west days of forex . I will say its easier if you have both sides of the equation, the eur/usd along with the usd/eur and you want to be in your top chess playing condition lol,,,,and obviously you can see what happens if you wait and go on the news by time you hit the little button for the refresh to see what news was its over,,,, even a fancy squawking news service by time ya get it well,,,, most learn the drill 1st hand ,,,,,,,red for usd buy buy buy,,, right,,,, wrong ,,,,ah robber banks they will fill you at a top or bottom after a release and the wrong way ,,,,,,,,, price action will point out some good clues before the release a good part of the time ,,,, have a great weekend all . |
1 Attachment(s) I think the banks where just making sure Ata had closed all his shorts from up there . |
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USD/CAD looks sweet! 