Resistance broke. Looking @ 1.23600 now and going up.
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LIVE Trades Only : EURUSD & GBPUSD 122 replies
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DislikedWhy do we have so many bear calls here when we are above 200ema on every timeframe and above daily/weekly/monhtly pivot?Ignored
DislikedWhy do we have so many bear calls here when we are above 200ema on every timeframe and above daily/weekly/monhtly pivot?Ignored
Disliked{quote} the previous 4hr candle is almost a doji. The price 1.235 is acting at the moment a strong resistance. To broke this, it requires a very strong move to move near 1.2360 -1.2380. In my view market already ranged before the us cpi numbers tomorrow i.e 1.2335 - 1.2370. You could short it in this area. You'll get atleast 20 pips. There's a short running at 1.2335 and i might have to close it with 25 pips loss but i'll look for short above 1.2370. Because i think, it'll make a daily high between 1.2370 - 1.2380 the right place for the long would...Ignored
Disliked{quote} Yeah.. I got shaken out of my long.. :-( at least some profits.. :-) Been trading forex for a long time and if I consequently follow the trend I must trade really really stupid to have losses... It just make everything much and much easier. I used to reverse and reverse. I only look for shorts on the 5min AFTER the hourly says down.. Now it says up. Is price at resistance: Sure... will it bounce of: probably... (just not today I think...we're up..) But nobody knows. IvoIgnored
Disliked{quote} I use them as contra-indicator. Just kidding ;-) People just don't trade "in the moment"... people say I think it will go up 20 pips and then down 30... but nobody knows. One can only see change as it happens but nobody knows how far it goes... when it will turn... Prediction but we should anticipate, not predict. IvoIgnored
Disliked{quote} I got you and the sarcasm...lol...losses do not equate to stupidity especially when using a trend following system. Lots of small losses and large trend gains is part of the equation of the system. However, my system does trade trends exclusively. Profits aren't mutually exclusive between systems that have an edge and there are times when a trend following system will gain and other systems lose and vice versa. Yes, we are above the 200ma and various pivots but I'm sure if I went and reviewed historically time this approach fails quite a...Ignored
Disliked{quote} I use them as contra-indicator. Just kidding ;-) People just don't trade "in the moment"... people say I think it will go up 20 pips and then down 30... but nobody knows. One can only see change as it happens but nobody knows how far it goes... when it will turn... Prediction but we should anticipate, not predict. IvoIgnored
Disliked{quote} That's why. You may be doing okay today (the day isn't over yet) but the chart of your system since 2000 tells it isn't a viable system: Spread 5 pips initial account 10000 leverage 100 to 1 stop loss 200 profit target 200 if it is a simple stop and reverse that method is even more dire. I'm not into anecdotal assertions from experience, I prefer empirical analysis. {image}Ignored
DislikedThe price is random, thatīs true. But there are quite some self-fulfilling predictions that work, including the trend, R/S lines, MAīs, etc. They work because of a lot of traders use them for their trading. So a completely "clean chart" is not always the best thing for trading. Just my 2 Cents.Ignored
DislikedNaturally there are alternative EURUSD systems that will sometimes trade counter to the horrible system above such as the one attached, which is currently short...I mean, would you really not take every single trade from a system such as the one attached. Returns is the final arbiter!!! {image}Ignored