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  • #20,581
  • May 3, 2018 4:33am May 3, 2018 4:33am
sold again at 1.1998 SL at 1.201 ... TP manually will move SL to BE as soon as possible
  • #20,582
  • May 3, 2018 4:36am May 3, 2018 4:36am
What timeframes are you guys trading?

I know overall trend is hugely bearish, but shorter term price action is supportive of the current price.

Until I see anything that looks bearish on the H1 chart, I'm steering well clear.

Could be wrong, probably am!
  • #20,583
  • May 3, 2018 4:40am May 3, 2018 4:40am
Quoting Expo33
Median lines using Renko. Long @ 1.1975 off an "energy point" as coined by Tim Morge. SL = 14 PIPS TP = 34 PIPS RENKO BRICK SIZE = 5.2 {image}
Manual close for a quick +25. Good enough for now. Time for a little napsky right after I pat myself on the back.

Is there anything more self absorbed than quoting oneself?

zzzzzzzzzzz
Pride always comes before destruction.... -Proverbs 16:18
  • #20,584
  • Edited 4:55am May 3, 2018 4:42am | Edited 4:55am
Quoting raju0189
Dear Ata, I need a suggestion from you and all seniors . Which time frame (5/15/30/60/4hr) best for a new and small trader. Some times i am very confused . Thanks
I suggest you:

- Markets: EUR/USD, USD/JPY. Only these two for the beginning. (I do have a reason for this, I want you to see something that will become very important much later on! Do it, stick to these two for now, don't be all over the place.)

- No indicators, no EMA's, nothing. Do only this, very simple.

1) look at D1 to get the "bigger picture" of where you currently are

2) go down to H4, switch to Linegraph chart, draw horizontal lines at supprt/resistance, not too many (Linegraph helps you to see where to put these Lines)

3) go down to H1, switch back to candlestick chart, learn how to read Candlesticks (second most important thing in trading), and see what the price does around the horizontal lines. Observe, learn, don't focus on results. Understand what you are looking at!

4) apply good Risk/Reward management (number 1 most important thing in trading, learn it, stick to it, know your "risk of ruin" at any point)

5) no hope and no fear! Trade only what you see, use common sense. See the lines, see the candlestick patterns that form around these lines. Trade, but only once you undersrtand things like "oh look, a bearish dark cloud, I only need a 15 pip stop and the next resistance is 50 pips away, that's a decent Risk/Reward and a good signal at support, that fits into the greater picture, that's a trade I should take, I'm short".
Do not focus on results. Do this, stay patient, learn, then results will come.

6) Know and understand the reality of trading.

Do this.
This way, you learn.

For a new trader, forget "scalping" the Minute charts! They will ruin you, unless you know exactly what you do and have the mind for it.
you are not expected to understand this
  • #20,585
  • May 3, 2018 4:43am May 3, 2018 4:43am
Quick M30 Update

I hate this but yeah... bulls are still good.. My sell trade is running.. and if I lose I lose.. For now still little hope this can go down but again as long as this level holds I am not that keen for selling..

And by the way... why are all my bearish fellows so silent? NOT-KPMG? FxClarity? Others? Could you please give us some insights? Would be helpful right now since I shorted

Stay Green
Attached Image (click to enlarge)
Click to Enlarge Name: EU-M30-Outlook.png Size: 19 KB
Focus only on what truly matters!
  • #20,586
  • May 3, 2018 4:44am May 3, 2018 4:44am
If this 1HR candle settles below 1.1990 then we can assume market made today's high.
  • #20,587
  • May 3, 2018 4:58am May 3, 2018 4:58am
Quoting Ata-Turkoglu
Quick M30 Update I hate this but yeah... bulls are still good.. My sell trade is running.. and if I lose I lose.. For now still little hope this can go down but again as long as this level holds I am not that keen for selling.. And by the way... why are all my bearish fellows so silent? NOT-KPMG? FxClarity? Others? Could you please give us some insights? Would be helpful right now since I shorted Stay Green {image}
I was just about to post that i opened a short at 1.1998 xd looks like it cleared the stops both ways and its ready to move. Ny should push this baby for the weekly suport at 1.926 before the big money closes their profits, thats my view for today.
Best regards
  • #20,588
  • May 3, 2018 4:59am May 3, 2018 4:59am
Quoting Ata-Turkoglu
Sold 1.1988.. SL: 20 pips TP: Will trail Stay Green
Closed manually at BE.. I don't trust bears yet.. will wait..

Stay Green
Focus only on what truly matters!
  • #20,589
  • May 3, 2018 5:00am May 3, 2018 5:00am
Quoting Luzbay
I'm currently on the sidelines (price action is insane), but my charts show this going to 1.2040 before it decides what/where next. It's all over the shop!
Money where my mouth is --

Long @ 1.1992
SL @ 1.1969
TP @ 1.2024
  • #20,590
  • May 3, 2018 5:01am May 3, 2018 5:01am
Quoting Windstrown
{quote} I was just about to post that i opened a short at 1.1998 xd looks like it cleared the stops both ways and its ready to move. Ny should push this baby for the weekly suport at 1.926 before the big money closes their profits, thats my view for today. Best regards
You might be right but while price still dancing above 1.1985 I prefer to wait for more clues.. No direction for me as long as we are between 1.2010 and 1.1985.. and to be honest if I had to trade blindly I would hold bulls side.. can't help it..

Stay Green
Focus only on what truly matters!
  • #20,591
  • May 3, 2018 5:06am May 3, 2018 5:06am
Quoting Ata-Turkoglu
Quick M30 Update I hate this but yeah... bulls are still good.. My sell trade is running.. and if I lose I lose.. For now still little hope this can go down but again as long as this level holds I am not that keen for selling.. And by the way... why are all my bearish fellows so silent? NOT-KPMG? FxClarity? Others? Could you please give us some insights? Would be helpful right now since I shorted Stay Green {image}
Little more patience my man. I'm still holding some of my yesterdays shorts from 1.2020. Added some more from 1.2005.
Yesterday if you'd noticed that during the FOMC time market couldn't able cross it's day high. It was almost there but then there's a plunge. And then today, it slowly picking up pace. If you see the 2 big short tails today, both of them crossed each other.

For the stronger bulls it has to cross yesterdays high and strong candle above 1.2015

4hrs is the clear picture.
  • #20,592
  • May 3, 2018 5:15am May 3, 2018 5:15am
Quoting Traderview
{quote} Little more patience my man. I'm still holding some of my yesterdays shorts from 1.2020. Added some more from 1.2005. Yesterday if you'd noticed that during the FOMC time market couldn't able cross it's day high. It was almost there but then there's a plunge. And then today, it slowly picking up pace. If you see the 2 big short tails today, both of them crossed each other. For the stronger bulls it has to cross yesterdays high and strong candle above 1.2015 4hrs is the clear picture.
Sometimes I can't stop my imagination.. and yesterday I came up with the X-Wing pattern as some of you might remember.. for those who don't know what an X-Wing is I put an image on chart.. tell me honestly if that pattern doesn't look like an x-wing.. anyway.. so I looked and noticed that price went into the opposite direction of where the spaceship was pointing at.. now I see the same pattern on M5... small chart yes but I think we will have some upwards move after bearish fakes are done..

Long story short: I am still waiting to see more clues.. the x-wing thing is nothing serious.. but still will check out its effect whenever I come across this pattern.. I am sure it has a meaning which time will help me to find out.. otherwise just a funny topic for thinking out of the box.. (I know some will say it might be a H&S pattern.. well so be it then.. still trading into the opposite direction feels wiser)

Stay Green
Attached Image (click to enlarge)
Click to Enlarge Name: EU-M30-Outlook.png Size: 59 KB
Focus only on what truly matters!
  • #20,593
  • May 3, 2018 5:31am May 3, 2018 5:31am
Quoting dab
{quote} Depends on your timeframe in my opinion. I switched from daily to weekly rsi and combined with stacking and my other analysis it has done wonders for my trading (probably because I was prone to entering too early). Ps I’ve lost track – at what level did you last close any of your EU positions? I assume you are still holding some for 1.191 and lower?
Hi dab,

Sorry for the delay in responding.

No the first basket sequence was closed out back in January for a small profit - then a new sequence was initiated from above 1.25 and 1.24 - several entries were taken and some scaled out, then layered back in. The history is all in this thread but I began to bore myself with it let alone anyone else so I believed the gracious thing to do was step aside from the thread and just run my own trades again..We got the final sinker sequence a couple of weeks ago and I just held my position for the drop through 1.20.

Hope all is well with you
  • #20,594
  • May 3, 2018 5:32am May 3, 2018 5:32am
Quick H1 Outlook

I wanted to share one of my charts that supports my "slowly shifting to bullish" view.. (1.2020 is a blocker for now)

Also notice just some time ago we had MACD divergence.. now MACD signal line is above 0..

Stay Green
Attached Image (click to enlarge)
Click to Enlarge Name: EU-H1-Outlook.png Size: 41 KB
Focus only on what truly matters!
  • #20,595
  • May 3, 2018 5:35am May 3, 2018 5:35am
Adding a little colour to my previous post..there is a time to lever in and lever out

...and then there is a time to hold all positions and let the market run for you.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.proH1.png Size: 56 KB
  • #20,596
  • May 3, 2018 5:43am May 3, 2018 5:43am
Quoting Ata-Turkoglu
Quick M30 Update I hate this but yeah... bulls are still good.. My sell trade is running.. and if I lose I lose.. For now still little hope this can go down but again as long as this level holds I am not that keen for selling.. And by the way... why are all my bearish fellows so silent? NOT-KPMG? FxClarity? Others? Could you please give us some insights? Would be helpful right now since I shorted Stay Green {image}
FED statement yesterday was slightly Dovish. So this week's bear move in Euro may be limited. On the other hand Euro inflation was so bad which limits bull activity as well. I am almost certain that in next two meetings (June 8th and July 20th) ECB will say that asset purchase program will be extended beyond September.

So my deadline for 1.15 is end of July latest. From September Euro may raise again since better economical data will come with cheaper Euro.
Position Trader
  • #20,597
  • May 3, 2018 5:45am May 3, 2018 5:45am
Quoting Ata-Turkoglu
{quote} Sometimes I can't stop my imagination.. and yesterday I came up with the X-Wing pattern as some of you might remember.. for those who don't know what an X-Wing is I put an image on chart.. tell me honestly if that pattern doesn't look like an x-wing.. anyway.. so I looked and noticed that price went into the opposite direction of where the spaceship was pointing at.. now I see the same pattern on M5... small chart yes but I think we will have some upwards move after bearish fakes are done.. Long story short: I am still waiting to see more...
I understand you.

This is my stand on Time frames and Patterns:
One should use lower TF to enter and higher TF to decide the are of the TRADES.
On patterns, one should use 1HR and 4HR
  • #20,598
  • May 3, 2018 5:49am May 3, 2018 5:49am
Quoting Ata-Turkoglu
Quick H1 Outlook I wanted to share one of my charts that supports my "slowly shifting to bullish" view.. (1.2020 is a blocker for now) Also notice just some time ago we had MACD divergence.. now MACD signal line is above 0.. Stay Green {image}
Check out the MACD for 4th candle from the last, the candle was very small and it closed in the middle but the large MACD of that candle is big. It was sign of bull pressure. So the next candle went down a bit and shoot up.
  • #20,599
  • May 3, 2018 5:52am May 3, 2018 5:52am
Quoting FXClarity
Adding a little colour to my previous post..there is a time to lever in and lever out ...and then there is a time to hold all positions and let the market run for you. {image}
Can you tell me where your SL is at this very moment? Thanks..

Stay Green
Focus only on what truly matters!
  • #20,600
  • May 3, 2018 5:52am May 3, 2018 5:52am
From a fundamental view - EUR inflation data bearish this morning.
I think EUR upside is capped until the Friday U.S. jobs report data hits.

From a technical view - EUR is still in a strong downtrend on the daily chart.

conclusion - I'm not ready to buy EUR today - prefer to sell rallies
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