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  • #15,601
  • Mar 6, 2018 12:50pm Mar 6, 2018 12:50pm
Quoting msiamd
{quote} The daily open was a good line in the sand for today. So after LO open it went above daily open and up to at least H4. Also market went not lower at 1Hr 35 sma. Good entry point. {image}
Dont think that will ever change much ,one of the most overlooked levels there is on a chart
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  • #15,602
  • Mar 6, 2018 12:54pm Mar 6, 2018 12:54pm
Quoting digger1
{quote} Dont think that will ever change much ,one of the most overlooked levels there is on a chart {image}
Yes, normally I start in the morning to see where the market is. Up or below the daily open. Gives me most of the times a good idea........
  • #15,603
  • Mar 6, 2018 12:56pm Mar 6, 2018 12:56pm
Quoting msiamd
{quote} Yes, normally I start in the morning to see where the market is. Up or below the daily open. Gives me most of the times a good idea........
It will give normally 2 good trades a day at least helps in the decision process for sure
  • #15,604
  • Mar 6, 2018 1:16pm Mar 6, 2018 1:16pm
Moved SL to 1.2393.. still letting my longs run..

Stay Green
Focus only on what truly matters!
  • #15,605
  • Mar 6, 2018 1:32pm Mar 6, 2018 1:32pm
Quoting Stillearnin
{quote} Yep. Next time. Are you still in longs?
My stps are getting tickled on shts I have left ,,,you can never dispell a projected tgt till eod or a failure somewhere ,,there is a little higher tgt yet even from a 15 min ,been an up up day why would it change now is a little thought to always keep in the back of your mind ,,,,,,,, there is the making of a little drop which could take it back near yesterdays high but really cant rule out that pop to 2430 as of yet ,,got to run traders ,trade safe all, cheers
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  • #15,606
  • Mar 6, 2018 1:40pm Mar 6, 2018 1:40pm
The bull party was so.Got out 1.2380 ,did other buy and sell scalp afterwards.Now its time for Bears to party
H & S on15M, sell, targeting support at 1.2350 area, right shoulder not complete and neck not broken down yet.

Plenty pips to all
Follow the Flow and Grow
  • #15,607
  • Mar 6, 2018 1:54pm Mar 6, 2018 1:54pm
Sell now while it is quiet and thank me in a few hours...

Target would be 1.229ish. SL is set by option so... (I do not use SLs, I use option to cover my worst case).
  • #15,608
  • Mar 6, 2018 3:00pm Mar 6, 2018 3:00pm
Good rally on the EURUSD during today's session. The pair breaks above the 1.2400 level, but it has not confirmed the breakout above that level yet. Its next resistance could be the 1.2500 level and its closest support is at the 1.2300 level.
  • #15,609
  • Mar 6, 2018 3:41pm Mar 6, 2018 3:41pm
Quoting FXClarity
Is it only me here that layers in positions? If you have a short play why not layer them in and widen stops..saves death of a thousand cuts which is what seems to be happening in here right now
No you are not the only one. From what I can gather my style of layering and taking profits is a bit different to yours but broad strokes it's the approach that works for me.
Hope for the best, prepare for the worst.
  • #15,610
  • Mar 6, 2018 3:53pm Mar 6, 2018 3:53pm
Quoting Stillearnin
{quote} I say better to get one cut then to lose the entire account if by any chance this gets to 1.2600 maybe even farther. I've never seen one trader that can keep his account trading without stop loss, if you are that one trader well then, i salute you! I knew there had to be an exception eventually!
I've been trading for a bit over 6 years and roughly the last 5 of those have been without stops. I agree with FXClarity if someone shorting at 1.24xx loses their account by 1.26 they are being too aggressive. I'm not proud of it but I had my first EU shorts in May last year when price was 1.11xx and hitting 1.25xx in Jan and Feb this year has not gone close to me losing my account. I don't still have those early shorts as I 'climb rungs' and take losses when appropriate and price has gone at least some my way eg I was adding sells all the way to early Sept and then took some profits and losses on the drops in Sept and Oct. It's all about having a plan for price going a long way either way.
Hope for the best, prepare for the worst.
  • #15,611
  • Mar 6, 2018 4:38pm Mar 6, 2018 4:38pm
Quoting dab
{quote} I've been trading for a bit over 6 years and roughly the last 5 of those have been without stops. I agree with FXClarity if someone shorting at 1.24xx loses their account by 1.26 they are being too aggressive. I'm not proud of it but I had my first EU shorts in May last year when price was 1.11xx and hitting 1.25xx in Jan and Feb this year has not gone close to me losing my account. I don't still have those early shorts as I 'climb rungs' and take losses when appropriate and price has gone at least some my way eg I was adding sells all the...
Not knocking your plan ,your still a float ,,but why fight it ,,,,,why not go with it it and take profits at certain rungs on the ladder ,,,,,,,,,once again not knocking it just wondering why
  • #15,612
  • Mar 6, 2018 4:40pm Mar 6, 2018 4:40pm
Gary Cohn to resign as Trump's top economic adviser

More Trump cabinet confusion - bad for the USD??
  • #15,613
  • Mar 6, 2018 6:03pm Mar 6, 2018 6:03pm
Quoting Montrealer
{quote} How after 2008/09 mutual PONZI-style scam by all major financial institutions someone still trusts banks' reports? They are known for positioning AGAINST their own clients. They are no more than talking heads designed to pump out your money. I better trust my eyes and charts. All currencies are moving by trends and pullbacks, not by Trump, Merkel or City Bank.
The idea was worked...
  • #15,614
  • Mar 6, 2018 6:06pm Mar 6, 2018 6:06pm
Quoting FlowCycler
The bull party was so.Got out 1.2380 ,did other buy and sell scalp afterwards.Now its time for Bears to party H & S on15M, sell, targeting support at 1.2350 area, right shoulder not complete and neck not broken down yet. Plenty pips to all
No party for Bears,Bulls extended,

Plenty pips to all
Follow the Flow and Grow
  • #15,615
  • Mar 6, 2018 6:15pm Mar 6, 2018 6:15pm
Now is a really good time to short in my opinion. I'd be surprised to see it over 1.25 for a sustained period of time, at least for the next 12 hours. Why I use options and not SL though because it can be random when it finally decides to go...
  • #15,616
  • Edited 7:45pm Mar 6, 2018 7:34pm | Edited 7:45pm
I've closed all trades and officially flat for tomorrow. I suspect Dollar will be sold off across the board starting with London opening.

Gary Cohen resigning is huge, Gary was Trump's go-to butt buddy and one of his largest and most vocal backers. Seems there is a lot of things shifting behind the scenes leading to instability.

Two things you don't want unstable....the banks and the government.
  • #15,617
  • Mar 6, 2018 9:29pm Mar 6, 2018 9:29pm
Quoting digger1
{quote}Not knocking your plan ,your still a float ,,but why fight it ,,,,,why not go with it it and take profits at certain rungs on the ladder ,,,,,,,,,once again not knocking it just wondering why
Hard to explain without going into too much detail or specific examples. Much is still a work in progress and obviously would prefer not to be fighting the trend but once I choose a direction I back the positions in and exit them at favourable points (limits) not unfavourable (stops). Some of it is risk management (eg look at chart and see which way a pair went in GFC) - many pairs drop quicker than they increase and I also factor in whether it's positive or negative swap. I only traded AU for many years and am still looking to improve (tweak) my plan so entries are better. I do take profits at certain rungs on the ladder but I also have a goal of only spending an hour or two per day on my trading so they are probably different rungs to what I've seen from your posts that you are able to identify.

edit: should add that last financial year I made enough to be able to cease my traditional job this year. This year hasn't been as good but I know I have some things that work for me and it's just a matter of further improving them to get better (as most of us can).
Hope for the best, prepare for the worst.
  • #15,618
  • Mar 6, 2018 10:01pm Mar 6, 2018 10:01pm
Dollar remains on the back foot due to market jitters of continued trade tensions
  • #15,619
  • Edited 11:14pm Mar 6, 2018 11:02pm | Edited 11:14pm
Marking 1.2424 as bad-ass resistance from here.. let's see if price can climb back up.. if not or hesitant we high probably go down..

Edit: looking to close all my longs inside these minutes..

Stay Green
Focus only on what truly matters!
  • #15,620
  • Mar 6, 2018 11:05pm Mar 6, 2018 11:05pm
Be careful market sometimes favorable sometimes unpredictable.
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