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  • #1,139,661
  • Jan 4, 2018 10:35am Jan 4, 2018 10:35am
Quoting Techanalyst
{quote} Looks like support is holding strong on 60 minute chart. {image}
Oh, yes the Bulls have had the play of the field for a few weeks now - no disputing that but my strategy sits in shorting this pair right back to the zones I mentioned. Of course its a contra trend play and for that I am taking a bit of heat and drawdown on it (which is quite usual for a contra trend plays). That's where position sizing and money management comes in.

As an aside, now the Dow has punched through 2500 I'm going back to shorting that too.
  • #1,139,662
  • Jan 4, 2018 10:36am Jan 4, 2018 10:36am
It doesn't matter if goes up or down, what really matter is how much money are you doing.

about the "trends", we all know we can't judge a trader for it, if someone is trading on 5m chart the guy will tell u the trends is up, and if someone is on 4hr chart will tell u is down trends, sooo....

SUPPOSE
now the Price today will go up and the guy on 5m chart will tell cmon im the best in this and the guy who is on 4hr chart will cry?

and tomorrow the Price go down and will be the opposite.

so dont judge it about someone strategy, judge about the percentage they are making.
  • #1,139,663
  • Jan 4, 2018 10:40am Jan 4, 2018 10:40am
Quoting Techanalyst
{quote} Look at the yellow support/resistance. You are trading based on just support/resistance? You have got to add much more tools then just support and resistance. Of course unless you are a scalper or day trader. {image}
Sure there is a lot more to it than that - it is the untested breakout that dictates whether the trade is there or not (for me it is) and if I go into 4% drawdown I will de-lever / if I go to 6% drawdown all positions close out and the loss is taken- selling at previous flag highs is just one method of fading the continuation
  • #1,139,664
  • Jan 4, 2018 10:46am Jan 4, 2018 10:46am
Quoting Alexbmv
It doesn't matter if goes up or down, what really matter is how much money are you doing. about the "trends", we all know we can't judge a trader for it, if someone is trading on 5m chart the guy will tell u the trends is up, and if someone is on 4hr chart will tell u is down trends, sooo.... SUPPOSE now the Price today will go up and the guy on 5m chart will tell cmon im the best in this and the guy who is on 4hr chart will cry? and tomorrow the Price go down and will be the opposite. so dont judge it about someone strategy, judge about the percentage...
I agree that no one should judge anyone about the trading strategies. We are all here to share our strategies and opinions. Actually it does matter if it goes up or down. You mention 5m chart trading. That is very short term trading scalping. Trading on that chart you want to make 5 to 10 pips max. If you are trading 4h chart and up, trend does matter because you will open the trade and leave it to go up or if you sell it to go down much more than just 10 pips. For long term traders trend does matter. For short term traders, trend doesn't matter because you are in fast and out fast.

I will attach just an example for scalping day trading of NZDUSD5M chart.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDM5(5).png Size: 39 KB
  • #1,139,665
  • Jan 4, 2018 11:19am Jan 4, 2018 11:19am
Quoting F.g
Stoped ... Reshorted at 1.20 66
EDIT at 12:20 exited manually now at 1.2066 ------- FLAT fttb
  • #1,139,666
  • Jan 4, 2018 1:49pm Jan 4, 2018 1:49pm
Hello Traders! Do traders share their end results here? Like how many Pips they made/lost? I'm here to learn and appreciate everyone posting here. Thank you!
aka honcho
  • #1,139,667
  • Jan 4, 2018 3:27pm Jan 4, 2018 3:27pm
Quoting realestatemi
Hello Traders! Do traders share their end results here? Like how many Pips they made/lost? I'm here to learn and appreciate everyone posting here. Thank you!
Sure, some people do that. And just so you know, most people also appreciate that IF you do that ("Hey, I just made 15 pips on that last move!") that you mention you've entered the trade earlier on, closer to the time you entered rather than wait till you close. That way people won't think you're just making it up after the fact.
  • #1,139,668
  • Jan 4, 2018 5:23pm Jan 4, 2018 5:23pm
If we look at this in terms of wave analysis rather than S/R, we can see a nice 4h impulse. Corrections are never one wave so we expect 3 and this move down would expect to break the low (blue). This move up 'can' break the top though.. still would look for sell at break of the 60min uptrend for a expanding or running flat unless the structure changes dramatically..
In short, im looking to short .. haha.. but not in as yet.. Happy trading!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 110 KB
Wave-Trader- Charts as DocHolliday on Tradingview also
  • #1,139,669
  • Jan 4, 2018 11:53pm Jan 4, 2018 11:53pm
Quoting DocHolliday
If we look at this in terms of wave analysis rather than S/R, we can see a nice 4h impulse. Corrections are never one wave so we expect 3 and this move down would expect to break the low (blue). This move up 'can' break the top though.. still would look for sell at break of the 60min uptrend for a expanding or running flat unless the structure changes dramatically.. In short, im looking to short .. haha.. but not in as yet.. Happy trading! {image}
I hope you are correct.
Whatever is happening right now has happened before and will happen again.
  • #1,139,670
  • Jan 4, 2018 11:53pm Jan 4, 2018 11:53pm
Inserted Video
  • #1,139,671
  • Jan 5, 2018 12:41am Jan 5, 2018 12:41am
not sure which direction will go......any will do for me.....

have a great day..
trading is simple but is simple is not easy.
  • #1,139,672
  • Jan 5, 2018 1:27am Jan 5, 2018 1:27am
Quoting Techanalyst
{quote} I agree that no one should judge anyone about the trading strategies. We are all here to share our strategies and opinions. Actually it does matter if it goes up or down. You mention 5m chart trading. That is very short term trading scalping. Trading on that chart you want to make 5 to 10 pips max. If you are trading 4h chart and up, trend does matter because you will open the trade and leave it to go up or if you sell it to go down much more than just 10 pips. For long term traders trend does matter. For short term traders, trend doesn't...

Good post....Seems Volman has a bit of influence here....

I am not sure about your view about the 5m TF with the 5-10 pips TP....... I trade the 5m tf and normally I aim for at least double of my risk unless the current market conditions and technicality tells me otherwise..........If is a trend day from the opening I stay in as much I am allowed and when it works all perfectly I can close the trade with about 100+ plus.....It does not happen every day but when it happens it makes a huge difference in my account balance...

Only my perception.
trading is simple but is simple is not easy.
  • #1,139,673
  • Jan 5, 2018 3:38am Jan 5, 2018 3:38am
I continue to see no potential to the upside without a correction first, either by time or price.

The market is expecting a drop in non-farm payrolls of 38K to 190K comparing to the 228K in November. I believe it will come out above 190K due to Christmas holidays hiring.

I'm expecting a drop on EUR/USD to 1.1942 where it lays the 38.2 Fibonacci retracement, convergent with November swing high.

Option expiries of note for today's 15:00 GMT:
EUR/USD: 1.2000 (595M), 1.2075-80 (523M).
  • #1,139,674
  • Jan 5, 2018 3:39am Jan 5, 2018 3:39am
If ABCD doesn't work next potential for short above 1.22 and Butterfly pattern
Attached Image(s) (click to enlarge)
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  • #1,139,675
  • Jan 5, 2018 6:44am Jan 5, 2018 6:44am
HAPPY PIPSFUL 2018!
Follow the Flow and Grow
  • #1,139,676
  • Jan 5, 2018 8:28am Jan 5, 2018 8:28am
Its gone very quiet in here..No chorus of "trade with the trend" or 'don't fight the trend"...Unless of course it goes up when some will no doubt claim they have added into Longs...after the event
  • #1,139,677
  • Jan 5, 2018 8:28am Jan 5, 2018 8:28am
Nice Pin Bar created - was good opportunity for rebuild short position. TP still valid
Attached Image (click to enlarge)
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  • #1,139,678
  • Jan 5, 2018 9:00am Jan 5, 2018 9:00am
A few pips lower and I'll scale out under the Market Structure Low (if reached).
  • #1,139,679
  • Jan 5, 2018 9:10am Jan 5, 2018 9:10am
Market Structure Low under attack but being defended at present
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.proM30.png Size: 60 KB
  • #1,139,680
  • Jan 5, 2018 9:12am Jan 5, 2018 9:12am
Quoting FXClarity
Its gone very quiet in here..No chorus of "trade with the trend" or 'don't fight the trend"...Unless of course it goes up when some will no doubt claim they have added into Longs...after the event
Funny how that works isint it ,,,,,,,,,,,,,testing last weeks high ,, which is also last quarters high ,,,,,, did buy a few at 2027
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