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  • #1,137,741
  • Oct 28, 2017 3:53pm Oct 28, 2017 3:53pm
Quoting Steve J
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...
Retail USED to have about 10% of weight on the market.. but it does have much more now.. closer to 35% actually. However..retail doesn't offer the same F U price bars that banks do as individuals being vastly wealthier than retail. But retail account for more than what you likely think..however...never in unison...they just play follow the leader..if they are lucky enough to know what the leader is doing
  • #1,137,742
  • Oct 28, 2017 4:18pm Oct 28, 2017 4:18pm
Quoting Venomousssss
{quote} Retail USED to have about 10% of weight on the market.. but it does have much more now.. closer to 35% actually. However..retail doesn't offer the same F U price bars that banks do as individuals being vastly wealthier than retail. But retail account for more than what you likely think..however...never in unison...they just play follow the leader..if they are lucky enough to know what the leader is doing
Which leader? The orange one? The one with hair like an eraser? The questionably homosexual one? There are so many...
"The fun is in the hunt. Not the kill."
  • #1,137,743
  • Oct 28, 2017 5:39pm Oct 28, 2017 5:39pm
Quoting Steve J
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...
Steve, you are right on. The dilemma for us small accounts is that in order to make a decent profit, we have to go way beyond the bounds of a safe risk such as 1-2%. I made on my last positions about 16%. It's good but it's also high risk. That's why I never recommend anyone following my strategy because it's way too risky. For me it's relatively safe since I haven't lost in a about a year. Broke even a couple of times due to poor positioning. People 50 and under have plenty of time to position at a safer risk. I'm older so I'm using a strategy that will get my account to a 20K level in about a year-year and a half. I can then reduce my risk significantly and still make as much if not more. At a 50k account, you can start making a living.
Taigen Profit This Month: na
  • #1,137,744
  • Oct 29, 2017 4:22am Oct 29, 2017 4:22am
I will be bearish on the EURUSD this week unless fundamentals threaten my weekly technical outlook. Here's why.

The pair has been operating in an ascending channel since March 2017. On the weekly time frame, the channel was breached southward by price action during the third week of September 2017. A period of sideways operation followed for three weeks before a bearish move was begun last week. The technicals are disposed for a bearish continuation. The 1.14205/1.15040 zone is the immediate support and may be a magnet for bears.


On the H4 timeframe, price action has been ranging (area bound by magenta coloured horizontal lines) since late September 2017. Last week Thursday, price action broke the range southward. But the last session on Friday saw the bulls pushing price back northward. If the bulls succeed in this move in the early part of this week, we may see price action retesting the range before any southward turnaround. I will be interested in a retracement to the 50/61.8 Fib zone of the most recent swing down; from where I will look for a sell trading opportunity.


I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #1,137,745
  • Oct 29, 2017 5:34am Oct 29, 2017 5:34am
Quoting Venomousssss
{quote} 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?
Well yes in some ways, i would say its areas that have to be retraced, and yes depending on PA it can acts a support/resistance

Quoting Venomousssss
{quote} 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).
That's the whole point...during even there are a lot of orders treated, which cause a lot of volume, and depending on what the PA is doing you have an idea of what can happen next
During Draghi's speech on thursday, if you look at my chart posted you can see a hammer ending green, with loads of volume...to me its buyers here, but price needed to go lower. Its the first step of accumulation. Deep pockets can load anywhere for years

Quoting Venomousssss
{quote}
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.
Please show me how you can see that 1,666 should be a high volume, because i can't see anything

Quoting Venomousssss
{quote} 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
1,77x is the closing of the h1 candle during Draghi's speech (very high volume area)
But one single bullish candle is not enough for buyers to mark the price up, especially after weeks and weeks of ranging

And of UCAD i shorted too soon....i should have waited a bit, but i'll keep on shorting rallies as price goes up, i'll post things on the thread over there
COT: The precious data ignored
  • #1,137,746
  • Oct 29, 2017 9:08am Oct 29, 2017 9:08am
I like to keep things as simple and uncomplicated as possible.
I am bullish EUR/USD for the coming week and beyond.
My very near term target is 1.1730ish.
Many will disagree but that's my take on it.
Here is my simple chart for the bear's disapproval
Attached Image (click to enlarge)
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It's a big game.
  • #1,137,747
  • Oct 29, 2017 10:08am Oct 29, 2017 10:08am
Deciding whether I should scalp shortly after markets open... would only need 10pips to be satisfied before the holidays.
I probably will, just not sure which direction, market opening should be a good sign...

BTW guys, what is your annual/monthly trade volume?
Can you afford to take that chance?
  • #1,137,748
  • Oct 29, 2017 1:05pm Oct 29, 2017 1:05pm
These are my levels of concern having in mind Bear market;
Major support broken at 1.1780, next MS at 1.1290
Intermediate level of support going down - 1.1550, Resistance at 1.1730

Smaller TF - 1.1610, 1.1600, 1.1577, 1.1545

Attached Image (click to enlarge)
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Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
  • #1,137,749
  • Oct 29, 2017 1:12pm Oct 29, 2017 1:12pm
Quoting auricforecas
Deciding whether I should scalp shortly after markets open... would only need 10pips to be satisfied before the holidays. I probably will, just not sure which direction, market opening should be a good sign... BTW guys, what is your annual/monthly trade volume?
Ok it seems market will open with a DOWNspike...
Can you afford to take that chance?
  • #1,137,750
  • Oct 29, 2017 1:20pm Oct 29, 2017 1:20pm
Quoting auricforecas
{quote} Ok it seems market will open with a DOWNspike...
Just opened - 10 pip down gap
Attached Image (click to enlarge)
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...
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
  • #1,137,751
  • Oct 29, 2017 1:27pm Oct 29, 2017 1:27pm
Quoting Sohocool
Hi , some Ichimoku levels (Hourly Daily). {image}
Some daily EURUSD levels
Attached Image (click to enlarge)
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KISS&V :Keep it simple safe & visual
  • #1,137,752
  • Oct 29, 2017 1:28pm Oct 29, 2017 1:28pm
weekly.
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don't predict direction, but dance with flow of water
  • #1,137,753
  • Oct 29, 2017 1:57pm Oct 29, 2017 1:57pm
Quoting auricforecas
{quote} Ok it seems market will open with a DOWNspike...
Not anymore... Building UP.
Can you afford to take that chance?
  • #1,137,754
  • Oct 29, 2017 2:19pm Oct 29, 2017 2:19pm
Hi,

You guys know any good trading contest with real money ? not the wannabee demo contest please

Cheers
COT: The precious data ignored
  • #1,137,755
  • Oct 29, 2017 3:14pm Oct 29, 2017 3:14pm
Quoting auricforecas
*Easter egg: my short-term/daily for BTC is 6.200 USD, trading just for a fun. *Either I "believe" in the bitcoin itself is irrelevant for this easter egg.
Quoting auricforecas
{quote} OK TP hit, done for this week. *Will play with the easter egg now.
Easter egg success.
Can you afford to take that chance?
  • #1,137,756
  • Oct 29, 2017 3:41pm Oct 29, 2017 3:41pm
Quoting kuroro001
Hi, You guys know any good trading contest with real money ? not the wannabee demo contest please Cheers
I'm currently in the AXITRADER competition. Week 5/10 but you can join any time with a live account over 500aud. Highest profit return each week wins 10k, and the overall winner after 10 weeks wins 100k.

I joined late in week 3 and am Now currently leading it. October has been a good month.
  • #1,137,757
  • Oct 29, 2017 4:43pm Oct 29, 2017 4:43pm
Quoting Mitchoss
{quote}I'm currently in the AXITRADER competition. Week 5/10 but you can join any time with a live account over 500aud. Highest profit return each week wins 10k, and the overall winner after 10 weeks wins 100k. I joined late in week 3 and am Now currently leading it. October has been a good month.
Got a link please ?
COT: The precious data ignored
  • #1,137,758
  • Oct 29, 2017 5:18pm Oct 29, 2017 5:18pm
TP 1.1610
Can you afford to take that chance?
  • #1,137,759
  • Oct 29, 2017 6:15pm Oct 29, 2017 6:15pm
Gold, EURUSD & GBPUSD appreciating with alacrity over the last ten minutes. It looks like a rise before the fall!
  • #1,137,760
  • Oct 29, 2017 10:18pm Oct 29, 2017 10:18pm
I'm expecting some upward correction movement, but as long as Eur/Usd remain below 1.1620 level, the pair bearish trend would extended.
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