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  • #1,125,481
  • Edited 5:19pm Jul 29, 2017 5:08pm | Edited 5:19pm
Quoting Taigen
{quote} Demo accounts are good for learning purposes and can be helpful for the novice. However, they become unrealistic when you literally have nothing to lose so you take chances you wouldn't ordinarily do in a live account. Demo money ultimately has little impact on your trading strategy because there is no pain involved. In forex trading you need the joy but it doesn't come without the pain of learning using real currency.
Oh, I feel the pain using demo accounts! It hurts!
  • #1,125,482
  • Jul 29, 2017 8:39pm Jul 29, 2017 8:39pm
Quoting IHeartPips
{quote} Oh, I feel the pain using demo accounts! It hurts!
Enjoy your pain
Taigen Profit This Month: na
  • #1,125,483
  • Jul 29, 2017 10:44pm Jul 29, 2017 10:44pm
I expect the bullish momentum to continue to the futures 1,18 and 1,19 area and the start of a retracement from there.
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COT net positioning still indicating longs are leading. I do not expect that we are at the top here.
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Pat
  • #1,125,484
  • Jul 30, 2017 12:18am Jul 30, 2017 12:18am
Quoting falcon72202
{quote} Yes, I believe that you are proud Monkey.
Yesssss very proud Moneky.. and I still love bananas .. oh, you know what I also love more? Pigs .. yeah some of them stink but I like the oil that comes with the meat..

Got some more bananas for me?
  • #1,125,485
  • Jul 30, 2017 12:21am Jul 30, 2017 12:21am
I'm sure a lot of people wish they could get their votes back huh?

wait for it
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  • #1,125,486
  • Jul 30, 2017 6:46am Jul 30, 2017 6:46am
Quoting jusstin911
I'm sure a lot of people wish they could get their votes back huh? wait for it {image}
Not me. Our economy is finally starting to turn around. Work is coming out of our ears and the currency is being manipulated in our favor for once.
Taigen Profit This Month: na
  • #1,125,487
  • Jul 30, 2017 7:32am Jul 30, 2017 7:32am
Quoting Taigen
{quote} Not me. Our economy is finally starting to turn around. Work is coming out of our ears and the currency is being manipulated in our favor for once.
Definitely we are at the end of the up trend and at the start of the currency manipulation downwards...
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I am who I am
  • #1,125,488
  • Edited 9:29am Jul 30, 2017 8:20am | Edited 9:29am
Quoting imwim
{quote} Definitely we are at the end of the up trend and at the start of the currency manipulation downwards... {image}
Based on the monthly and daily charts it suggests that we're still in the strong uptrend. However, the daily chart is peeking at the upper channels so it would suggest that it is now due for a retracement.

Right now, the fundamentals is basically chatter that doesn't amount to a whole lot other than quick little fluctuations. The currency manipulation is pretty strong with the US pushing the euro higher and higher.

With the price point at the top of the daily channel, I can't imagine many people wanting to buy at that level. Most will wait till it gets to the bottom channel.

Please note: My analysis is more long term than day traders and scalpers and is more intended for trend, swing, and long term traders.
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Taigen Profit This Month: na
  • #1,125,489
  • Jul 30, 2017 9:01am Jul 30, 2017 9:01am
Quoting Taigen
{quote} Based on the monthly and daily charts it suggests that we're still in the strong uptrend. However, the daily chart is peeking at the upper channels so it would suggest that it is now due for a retracement. Right now, the fundamentals is basically chatter that doesn't amount to a whole lot other than quick little fluctuations. The currency manipulation is pretty strong with the US pushing the euro higher and higher. With the price point at the top of the daily channel, I can't imagine many people wanting to buy at that level. Most will wait...
I think that's it for euro. I aim for 1.14x by end of Sep and below 1.10x at the end of the year. Tomorrow's weak Eurozone inflation print may be the beginning of a slow retracement.
  • #1,125,490
  • Jul 30, 2017 10:17am Jul 30, 2017 10:17am
my guess based on friday is that we have one or two more days of upward pressure, then the sale begins.
  • #1,125,491
  • Jul 30, 2017 10:24am Jul 30, 2017 10:24am
Quoting Connors
Fuck! I am back from holiday! I couldn't log into FF since for some reason my password didn't work and I didnt know my recovery email address to ask twee to send it. Just sorted it now. I have a bunch of PMs which I will check today/tomorrow. I hope everyone is OK. Why the feck is EUR trading here I have no idea, need to check charts tomorrow and monday. My mind is still in Greece, weird to be back home.
Welcome back Connor. How were your vacation? Did you went to Santorini??
  • #1,125,492
  • Jul 30, 2017 11:02am Jul 30, 2017 11:02am
Quoting jusstin911
I'm sure a lot of people wish they could get their votes back huh? wait for it {image}
LMAO never seen this one!
  • #1,125,493
  • Jul 30, 2017 11:46am Jul 30, 2017 11:46am
Quoting Taigen
{quote} Enjoy your pain
Enjoy yours too!
  • #1,125,494
  • Jul 30, 2017 12:24pm Jul 30, 2017 12:24pm
Quoting jusstin911
{quote} Well, If there is one thing, I do not follow anybody's trade idea as I pay serious bills with FX... But how can anyone depend on anther's TE/Calls/ to trade? I mean how can you build your 'Income' based on someone else? so what happens when that person leave FF? you quit FX? with all this in mind, there's no way i'd base my trades on anyone Pls Re-read my initial post on this matter if need be..
I base my trading on others. I take from their ideas to build on my own understanding; both the good ideas and the bad ones so that I can assimilate, incorporate, and adapt. It's the only way to figure out what you're doing wrong and with Forex you're bound to do many things wrong at first. After spending enough time listening, making mistakes, and learning you'll quite quickly notice when people are making junk statements or saying things with hidden value.

I enjoy seeing other people's technical analysis and hearing their predictions. It reminds me how many people don't really get it. The ones that get it are often silent.
"The fun is in the hunt. Not the kill."
  • #1,125,495
  • Jul 30, 2017 12:27pm Jul 30, 2017 12:27pm
Quoting Taigen
{quote} Based on the monthly and daily charts it suggests that we're still in the strong uptrend. However, the daily chart is peeking at the upper channels so it would suggest that it is now due for a retracement. Right now, the fundamentals is basically chatter that doesn't amount to a whole lot other than quick little fluctuations. The currency manipulation is pretty strong with the US pushing the euro higher and higher. With the price point at the top of the daily channel, I can't imagine many people wanting to buy at that level. Most will wait...

You are correct in your analysis, the problem are the gold and USD index on the chart weekly, not finished the wave yet.

Gold
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USD Index
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Together we can be strongest
Vantage Return This Month: -97.0%
  • #1,125,496
  • Jul 30, 2017 12:47pm Jul 30, 2017 12:47pm
Quoting Redeflect
{quote} I base my trading on others. I take from their ideas to build on my own understanding; both the good ideas and the bad ones so that I can assimilate, incorporate, and adapt. It's the only way to figure out what you're doing wrong and with Forex you're bound to do many things wrong at first. After spending enough time listening, making mistakes, and learning you'll quite quickly notice when people are making junk statements or saying things with hidden value. I enjoy seeing other people's technical analysis and hearing their predictions....
I do agree with you in that regard.. Via charts (tech and Fundis) but not a TE

A mate said something about 'following someone's TE.. Again, One cannot base their trading on someone's TE
  • #1,125,497
  • Jul 30, 2017 1:27pm Jul 30, 2017 1:27pm
Quoting IHeartPips
{quote} Enjoy yours too!
I feelin' no pain yet. That has already come and gone. I do hope that I can fill my two short positions at the top of EU in the 1.1770's. It's reasonable that it would test the resistance. If it breaks through, then yes--PAIN.
Taigen Profit This Month: na
  • #1,125,498
  • Jul 30, 2017 2:11pm Jul 30, 2017 2:11pm
Not that convinced that selling eurusd is a good idea judging by the open.
  • #1,125,499
  • Jul 30, 2017 2:15pm Jul 30, 2017 2:15pm
If you are tracking EURUSD for trading opportunity this week, you may like to consider my top-down technical outlook on the pair.

The pair has been operating in a multi-year consolidation pattern or range (bound by two magenta coloured horizontal lines) for a long while. On the weekly time frame, five price waves have formed within the range, beginning from March 15, 2015. The most recent price wave pierced the distal part of the range and last week moved about 80 pips above it. However, sellers intervened and price action yielded some ground ending with less than 60 pips above the distal part, around the 1.17485 area. Furthermore, price action is respecting a support trendline (chocolate colour) from the low of May 2017. Should buyers regain control, a likely target is the immediate resistance around the 1.18700 area. Otherwise, we may see sellers push price action southward, perhaps to target the immediate support around the 1.16680 area or by extension a retest of the support trendline (chocolate colour).

On the H4 time frame, price action has moved above the support trendline seen on the weekly time frame and is operating in an ascending channel (bound by two navy coloured lines). Last week, price action within the channel was largely ambivalent or sideways around the distal end of the channel. Apparently momentum for a bullish drive is weakening and we may see a southward turnaround this week, perhaps to target the 1.16170 area which is the origin of the most recent rally northward, or by extension the proximal channel line.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #1,125,500
  • Jul 30, 2017 3:18pm Jul 30, 2017 3:18pm
Quoting KeenPips
ccHowever, sellers intervened and price action yielded some ground ending with less than 60 pips above the distal part, around the 1.17485 area. Furthermore, price action is respecting a support trendline (chocolate colour) from the low of May 2017. Should buyers regain control, a likely target is the immediate resistance around the 1.18700 area. Otherwise, we may see sellers push price action southward, perhaps to target the immediate support around the 1.16680 area or by extension a retest of the support trendline (chocolate colour)... {image}...
Would just add that the buyers and sellers are the central banks that move the market. We retailers are just for the ride. We can't affect the market one way or the other. Price action is based on the maintenance of balance of central banks. Bulls and Bears are a misnomer but since everyone uses it including brokers we all know what they mean. If it's a bull for the euro it's a bear for the US dollar. Pro dollar is not bearish. But whatever...
Taigen Profit This Month: na
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