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  • #1,137,721
  • Oct 27, 2017 3:12pm Oct 27, 2017 3:12pm
Quoting auricforecas
Well ok, f.. it... I will TAKE 10pips retracement to round the account up for this week;D TP 1.16125
Quoting auricforecas
{quote} I will scalp it... will see how market is going in the next 30min, might pull out if it is uncertain... looking good (stable) now.
I'm closing the trade. Scalped only 3 PIPs... Market too slow for my taste and too close to close... I realy dislike having open trade(s) during the (this) weekend since I'm preparing for the next week... This was my last BUY for a long time... SELL only for the next 3months+

Now really done for the week.
Can you afford to take that chance?
  • #1,137,722
  • Oct 27, 2017 3:35pm Oct 27, 2017 3:35pm
Quoting kuroro001
Will be looking to buy some dips soon once h1 agrees....for 1,177x Ideally a move into 1,14xx first
that sounds good.
i am looking for another move down and then to close my shorts.
and i will look to short a retracement, hopefully above 1.1700
MAKE IT RAIN
  • #1,137,723
  • Oct 27, 2017 3:49pm Oct 27, 2017 3:49pm
Quoting mihai1986
{quote} that sounds good. i am looking for another move down and then to close my shorts. and i will look to short a retracement, hopefully above 1.1700
hey mihai, can i ask a quick question (sorry if it's a bit noob-ish). you say short a retracement, but i thought a retracement meant that, say now we've watched the price fall, it would "retrace" back upwards, meaning you'd buy long?

p.s. i'm thinking wait 'till monday morning and look at a buy long to hopefully ride it back upwards. thoughts/advice if you don't mind me asking?

appreciate the help : )
  • #1,137,724
  • Oct 27, 2017 4:27pm Oct 27, 2017 4:27pm
EURUSD D1 SELL
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  • #1,137,725
  • Oct 27, 2017 5:20pm Oct 27, 2017 5:20pm
Quoting Jones_PL
EURUSD D1 SELL {image}
If retrace happens to the neckline maybe it wont be as needed when it drops lower. But I'd think 148x will be the largest bounce area before 1.1215 area. If one is bullish you could argue the h&s will be made invalid and price just hit the low of the weekly trendline. (Not my bias atm) but none the less. ..euro stand a strong bearish reversal coming in my opinion...however..I dont necessarily agree with how bullish the dollar is behaving.
  • #1,137,726
  • Oct 27, 2017 5:21pm Oct 27, 2017 5:21pm
Quoting Jones_PL
EURUSD D1 SELL {image}
Also, it seems your chart line predictions will at a couple places actually send the pair back in time briefly hehee
  • #1,137,727
  • Oct 27, 2017 5:23pm Oct 27, 2017 5:23pm
Quoting kuroro001
Will be looking to buy some dips soon once h1 agrees....for 1,177x Ideally a move into 1,14xx first
Do you have a chart or some fundamentals to back the 1777 up? I've noticed you have had a little bullish stance on this drop. Would like to hear it if you have a minute.
  • #1,137,728
  • Oct 27, 2017 10:47pm Oct 27, 2017 10:47pm
Quoting dottedclover
{quote} hey mihai, can i ask a quick question (sorry if it's a bit noob-ish). you say short a retracement, but i thought a retracement meant that, say now we've watched the price fall, it would "retrace" back upwards, meaning you'd buy long? p.s. i'm thinking wait 'till monday morning and look at a buy long to hopefully ride it back upwards. thoughts/advice if you don't mind me asking? appreciate the help : )
A retrace is considered temporary turnaround of a trend when it hits a support of resistance. It's like the market taking a breather on the trend that's up or down. Many time the PA goes and tests a previous support or resistance or a fibo ratio.
Taigen Profit This Month: na
  • #1,137,729
  • Oct 28, 2017 4:47am Oct 28, 2017 4:47am
After narrowly escaping death by rapid stop loss hunting on EURUSD last Thursday and Friday, I can tell you that they're out to screw you! The currency pair was gradually falling (due to the ECB not changing the minimum bid rate), but then just after 3:00pm (GMT+1) there was a rapid, massive retrace. No warning! Simply sudden death. Cardiac arrest, forex style!
I just can't get over the speed and the sudden impact. It was as if the NFP had just been announced and yet there was no discernible price-driver. I am left concluding that one must have a big fat account, small lot sizes and nerves of steel. Always expect the unexpected in Forex!
  • #1,137,730
  • Oct 28, 2017 4:56am Oct 28, 2017 4:56am
Quoting Steve J
After narrowly escaping death by rapid stop loss hunting on EURUSD last Thursday and Friday, I can tell you that they're out to screw you! The currency pair was gradually falling (due to the ECB not changing the minimum bid rate), but then just after 3:00pm (GMT+1) there was a rapid, massive retrace. No warning! Simply sudden death. Cardiac arrest, forex style! I just can't get over the speed and the sudden impact. It was as if the NFP had just been announced and yet there was no discernible price-driver. I am left concluding that one must have...
Do you want to know why it really fell?
"The fun is in the hunt. Not the kill."
  • #1,137,731
  • Oct 28, 2017 5:39am Oct 28, 2017 5:39am
Quoting Venomousssss
{quote} Do you have a chart or some fundamentals to back the 1777 up? I've noticed you have had a little bullish stance on this drop. Would like to hear it if you have a minute.
Hi venom

Fundamentally and for me, EURO is a bad currency. Its a bag of shit, full with countries with problems

What i look at is h1 chart during this drop
See all the strong volume on reversal bars ? the 2 first ones are strong but it kept dropping and price was weak...the last one is often reversal but i'll pass for now
I'll wait for another stronger bullish bar (from m15 to h1)

There are 2 things : It will go to 1,1500 (h4 very high volume and Draghi's speech back then) and it will go to 1,177x (first strong volume during Draghi's speech again)
I'm waiting patiently and will load shorts or longs in time

I'm loading gold longs as well, it has been accumulated for days
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COT: The precious data ignored
  • #1,137,732
  • Oct 28, 2017 9:09am Oct 28, 2017 9:09am
I guess the CATOLINA situation in Spain is the biggest reason behind this EURO fall and it will continue its journey further down on Monday.
  • #1,137,733
  • Oct 28, 2017 9:17am Oct 28, 2017 9:17am
Quoting Steve J
After narrowly escaping death by rapid stop loss hunting on EURUSD last Thursday and Friday, I can tell you that they're out to screw you! The currency pair was gradually falling (due to the ECB not changing the minimum bid rate), but then just after 3:00pm (GMT+1) there was a rapid, massive retrace. No warning! Simply sudden death. Cardiac arrest, forex style! I just can't get over the speed and the sudden impact. It was as if the NFP had just been announced and yet there was no discernible price-driver. I am left concluding that one must have...
Really? There was nothing unusual about the drop. What has surprised me for so long was why has the EU taking so long to drop. If anyone was caught off guard, they are simply not reading the technicals. The fundamentals will blip the market but the technicals reflect the balancing forces of the market. You simply cannot go from 1.030 to 1.200 without a retrace on the daily chart. Ain't gonna happen. The 50% fibo would suggest that EU would test around the 1.1400 area.

Yes the Euro is a fake currency but so is the USD. They're both fiat which simply means they have a perceived value based on economic and political conditions.

Your argument can easily go the other way. I've only shorted this and have been astonished many times how high it shot up for no reason I could perceive.

If you think there is a blame to go around then blame the central banks or a boeing sale. Retail doesn't really move the market. We just go along for the ride. It's part of the learning curve... good luck.
Taigen Profit This Month: na
  • #1,137,734
  • Oct 28, 2017 9:27am Oct 28, 2017 9:27am
Too late, next time.
  • #1,137,735
  • Oct 28, 2017 9:41am Oct 28, 2017 9:41am
Hi guys,

Here some Fib. levels (attached) to put in to perspective and give you some guidance in the coming weeks and months...
Major levels being respected for almost 2 decades.
Waiting for a re-trace to go Short and ride it to 1.14xx
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Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
  • #1,137,736
  • Edited 9:37pm Oct 28, 2017 9:43am | Edited 9:37pm
autumn for EU

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MN
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  • #1,137,737
  • Oct 28, 2017 1:21pm Oct 28, 2017 1:21pm
Quoting Redeflect
{quote} Do you want to know why it really fell?
I'm all ears!
  • #1,137,738
  • Oct 28, 2017 1:39pm Oct 28, 2017 1:39pm
Taigen you're right!...retail does not have a significant effect on the market. We are simply an additional cash reservoir. Yet the vagaries of forex lead me to believe that to profit from the financial haze one's account must be fat, lot sizes small, nerves of steel and identify obvious price-drivers. Draghi is an obvious price-driver. He's been trying to talk down the Euro for months. For the next thirty days I'm expecting Euro to depreciate. I.1450 is possible. I just have to avoid sudden, rapid retraces for there lies the modus operandi of stealthy depreciation. There will be intermittent stop-loss hunting to replenish the market. Walk with trepidation!
  • #1,137,739
  • Oct 28, 2017 1:48pm Oct 28, 2017 1:48pm
Quoting Steve J
{quote} I'm all ears!
I figured. You give the impression of a man that wants to make things complicated.
"The fun is in the hunt. Not the kill."
  • #1,137,740
  • Oct 28, 2017 3:45pm Oct 28, 2017 3:45pm
Quoting kuroro001
{quote} Hi venom Fundamentally and for me, EURO is a bad currency. Its a bag of shit, full with countries with problems What i look at is h1 chart during this drop See all the strong volume on reversal bars ? the 2 first ones are strong but it kept dropping and price was weak...the last one is often reversal but i'll pass for now I'll wait for another stronger bullish bar (from m15 to h1) There are 2 things : It will go to 1,1500 (h4 very high volume and Draghi's speech back then) and it will go to 1,177x (first strong volume during Draghi's speech...
Im very ill equipped to discuss volume based trading or argue for or against it. Just not enough experience using it in my analysis. But if I have it right. It seems that you almost use high volume areas as a means to plot some S and R. Is that right? I could hop on that train all day long if I knew the high volume was simply because of the level ot hit..or technicals alone. But it seems like a cause an effect issue for me. The volume on that area doesnt mean anything to me because it was an event that caused the volume, not the area where the volume occurred (event here being fundamental). Now that the fundamental has driven the price to a new point..new technicals show potential of higher volumes.. such as the 1666-75 neckline.. should be a high volume mark for technicals alone. So I have a hard time seeing the 177x as a result of it being the last high volume spot. If what am I understanding from your explanation is wrong. Please let me know because this volume stuff is over my head..having not factored it much in my trading. Thanks for sharing, also love you posts especially with uCAD. Have a great week man
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