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RegisMexes Apr 26, 2019 3:41pm | Post# 84501

{quote} As long as no M15 candle closes below 1.11515 I prefer to keep longs.. Stay Green
Everyone has their strategies; I can see the validity of yours too. However, it remains that EU is failing to have consecutive closes above 1.1160 which should worry the bulls. Also, EUR/USD correlates to XAU/USD at a fairly high rate and XAU/USD is running into a resistance now.

My account is not swap-free, so it takes quite a fair bit to convince me to go long on EUR/USD; or at least I will want a very good entry price or strong price action that will take it up fast.

Just my thoughts.

LCForex Apr 26, 2019 4:12pm | Post# 84502

Hi all, quick question for the most expert of the thread on money management. I hope not too out of topic if so feel free to tell me I will delete. i think it could help many newbies though. What is the max %value are you willing to risk?. I know it is personal and risk-adversion profile based, but still.. just asking an opinion to more expert people than me. Thanks to all for all the interesting post of the past week. I always see a precious contribution to the thread by many. Enjoy your weekend
My two cents!

1. R:R minimum 1:2 never less

2. Calculate the R:R in money no pips or points

3. % to risk depends of you. Your Psyco, your toleration to risk. But each time you going to take the % of risk always take it from the first Capital deposited, what that means. You deposit 10000 you lose then you got 9900. Next time you are going to calculate your risk do it based on the 10000 no 9900. If you have more 10000, example 10100 this is your new base to calculate your % of risk.

Thats all folk!

Ker Apr 26, 2019 4:20pm | Post# 84503

Thanks guys!! Much appreciated

Enneyk Apr 26, 2019 5:13pm | Post# 84504

{quote} Hi Guys, I simply had to quote my previous post for simple reasons. 1.12000 is a very important barrier or level for EU. A weekly close or monthly close above or below does become important. We have monday and tuesday next week to see us through to month end and anything can still happen. I have opened a buy position off my monthly support 1 at 1.11168, basically a 50/50 entry. There are slight hints of a possible swing upwards but nothing much to convince me yet. My indicator will give that confirmation when it happens and a possible cyclic...


Would you be kind to share your template and indicators?

Ata-Turkoglu Apr 26, 2019 6:25pm | Post# 84505

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{quote} Everyone has their strategies; I can see the validity of yours too. However, it remains that EU is failing to have consecutive closes above 1.1160 which should worry the bulls. Also, EUR/USD correlates to XAU/USD at a fairly high rate and XAU/USD is running into a resistance now. My account is not swap-free, so it takes quite a fair bit to convince me to go long on EUR/USD; or at least I will want a very good entry price or strong price action that will take it up fast. Just my thoughts.
I hear you, but since you didn't mention any timeframe in your post I can't interpret your post correctly. I always talk in terms of timeframe and I strongly recommend that you too get used to that habit as soon as possible. Also, many of my buddies here know that I don't give a damn about correlations, sorry for my language, but I genuinely can't stand it. Nothing personal here. To me the chart is the ULTIMATE story teller. It tells a story long time before the news or any so called "economist" spits out his/her "after the fact" horse-shit. I simply focus on my beloved candles. I can happily say that "the candles" and "my own charts" as a whole are my trustworthy friends, not the trend.

That being said, below is my H1 chart, which is my main guidance as an intraday trader. The confusion causing all the different views comes from the current situation regarding to my own methodology:

  1. Candles are above my GREEN line --> Bullish Yes? NO... because GREEN line is flat --> Causes choppiness and indecision!
  2. MACD is still below 0 --> Bearish Yes? NO.. because H1 candles are already above GREEN line --> Anomaly! Again: causes choppiness!
  3. Methodology Analysis: Candles are currently flowing inside my DASHED RED and Normal RED Trendlines. What do I do? I am planning to buy the DASHED-TOUCH. And once the perfect time arrives I will step down to the M15 chart and chase a buy setup BUT..... before I do, I will quickly check to see if H1 candles are still ABOVE the GREEN line at that very moment otherwise I don't take the trade and wait.

Long story short: Regarding to my analysis, at this moment any "intraday trader" (do you see how many times I referred to TIME in this post?) should either already be long or waiting for a buy setup. Will it last long? I don't care and I don't know. My weekly support level 1.1159 acted like a magnet so far and could have been the main reason why we, the intraday traders, had to deal with this choppy phase. Next week will clarify many things I believe, therefore I would say: a little more patience to see real direction. I hope it helps you to see how my logic works. Peace

*Inverse H&S pattern alert. Don't miss that either

Stay Green
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Ata-Turkoglu Apr 26, 2019 6:52pm | Post# 84506

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Weekly S/R Levels

Below chart shows the updated version of S/R levels for coming week. I hope it helps.

Take care folks and happy weekends to all..

Stay Green
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benaiah Apr 26, 2019 7:24pm | Post# 84507

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I trade primarily intra-day, but I agree with bullish outlook for next week...
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benaiah Apr 26, 2019 7:51pm | Post# 84508

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Back in June 2017, bulls rallied from this level quite decisively, considering the weekly chart time frame.
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Hutch Apr 26, 2019 10:15pm | Post# 84509

anyone hopeful for euro below 1.1050
President Trump is already very unhappy about the $ being too strong so it's unlikely that it will go below 1.1 but 1.105 is possible.

andrern2000 Apr 26, 2019 11:15pm | Post# 84510

{quote} President Trump is already very unhappy about the $ being too strong so it's unlikely that it will go below 1.1 but 1.105 is possible.
Says who?

JayBag Apr 26, 2019 11:39pm | Post# 84511

{quote} Says who?
Classic question response..

lol itís such a funny thing people think trump is dumb..

oh well.. letís see which legs EU bulls will stand on come next week..

andrern2000 Apr 26, 2019 11:47pm | Post# 84512

{quote} Classic question response.. lol it’s such a funny thing people think trump is dumb.. oh well.. let’s see which legs EU bulls will stand on come next week..
Trump is not unhappy because of dollar is too strong. Read the news

Hutch Apr 27, 2019 4:42am | Post# 84513

{quote} Says who?
Maybe you should keep yourself informed by reading available news clips from reliable sources.

https://www.washingtonpost.com/news/...=.cab12838f4ed

https://www.bloomberg.com/news/artic...-raising-rates

https://money.cnn.com/2018/04/17/inv...ump/index.html

https://www.project-syndicate.org/co...-cohen-2018-08

https://seekingalpha.com/article/416...stration-wants

Mitiblotch Apr 27, 2019 7:45am | Post# 84514

{quote} Classic question response.. lol it’s such a funny thing people think trump is dumb.. oh well.. let’s see which legs EU bulls will stand on come next week..
No legs bro. That rise was expected. A lot of late sellers needed to be flushed. The effects of the good data will be felt next week. If price had closed above 1.1175 then we could say bulls. Watch price tumble again next week. I sold that 1.1160 without thinking twice.

This is my fallible opinion.

LCForex Apr 27, 2019 8:19am | Post# 84515

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This is what I am trading until market says NO IDIOT!
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Oc6oph Apr 27, 2019 8:53am | Post# 84516

Holding longs over weekend Iím betting will be above 1.1300 this coming week

Mitiblotch Apr 27, 2019 9:22am | Post# 84517

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Sometimes you need to put out this data to say "it can be done"! Sincere thanks to Ata and some others I have learnt a lot from here. This is myfxbook link:


http://www.myfxbook.com/members/miti...blotch/3247169
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Wavegarrick Apr 27, 2019 9:30am | Post# 84518

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{quote} Would you be kind to share your template and indicators?
Hi Enneyk,

Since it is not in my nature turning away anyone asking for help. I have set something up quick, but please, it will not be a system discussion and Ata, please feel free to hide this post. I give plenty of live trade examples as I go along. Pivots and other stuff are plentiful around FF so set your own system up around this.

Cheers.
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Hutch Apr 27, 2019 9:59am | Post# 84519

Sometimes you need to put out this data to say "it can be done"! Sincere thanks to Ata and some others I have learnt a lot from here. This is myfxbook link: http://www.myfxbook.com/members/miti...blotch/3247169 {image}
Congratulations on an excellent execution winning over 65% of your trades and reaching a profit factor of 1.57.
Enjoy the weekend to get ready to repeat your performance next week

Mitiblotch Apr 27, 2019 10:03am | Post# 84520

{quote} Congratulations on an excellent execution winning over 65% of your trades and reaching a profit factor of 1.57. Enjoy the weekend to get ready to repeat your performance next week
Thanks Hutch. I wish also wish you the green next week.


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