{quote} lovely SL
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
- #21,241
- May 10, 2018 3:17am May 10, 2018 3:17am
- Joined Oct 2017 | Status: Follow the Order Flow! | 1,073 Posts
- #21,242
- May 10, 2018 3:27am May 10, 2018 3:27am
- Joined Jun 2015 | Status: Trader | 14,961 Posts
{quote} not sure if will hold...this see-saw market conditions...
1.19 may go, almost certain. 1920 too.
Fake breakout so sell.
1.1820. easy.
Pound news a lot - volatility at lunch and in 3 min.!!!! Beware folks.
Green pips.
Beware of robber banks (RB), bad advisors.
- #21,244
- May 10, 2018 3:33am May 10, 2018 3:33am
- Joined Feb 2017 | Status: pippin' | 1,139 Posts
you are not expected to understand this
- #21,245
- May 10, 2018 3:36am May 10, 2018 3:36am
- Joined Oct 2017 | Status: Follow the Order Flow! | 1,073 Posts
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
- #21,246
- Edited 3:57am May 10, 2018 3:37am | Edited 3:57am
Wall of text, please excuse me, I am answering a question that was asked by dab in here, so I answer it in here. I use smaller text format to not flood the thread with a gigantic wall of text. (sorry Ata)
- #21,247
- Edited 3:56am May 10, 2018 3:38am | Edited 3:56am
- | Joined May 2014 | Status: Trader | 49 Posts
I was interested by this daily pattern chart, particularly the last 4 months (my upside down cup).
Mind if I share my view?
The downhill section is sort of close to reflecting the opposite of the uphill side, and they have been fairly steep and sharp.
I note that on the daily chart the price has crossed the D1 2000EMA (white line) on its way up, and then on its way down, and now sits between the 200EMA (green line) and the 500EMA (purple) and 1000EMA (yellow) lines. I will be watching to see where the price breaks which lines next.
When I look back in the charts to find similar looking pattern, I don't see the same setup. There are a few close ones:
beginning of 2011, beginning of 2008, end 2004, 1998.
there is no volume before this so looking at beginning 1992 and 1990 may not be reflective.
These times generally appear to have a rise, flat and drop, followed by pullback and further drop.
And sure there are also historical times where price drops and then continues to rise.
I think I will be looking for that small pullback (currently up to no more than 1.195) and then the drop down to or past the D1 500EMA (1.1655).
Just my thoughts.
(I look for the reversal trade and try and trade small and be patient so I minimise my losses. I always seem to get carried away and enter too early, and also close too early.
I still have lower sells (so am biased to the downside), so it was great to close EURUSD trades this week in profit, that I put on in December 2017.)
Mind if I share my view?
The downhill section is sort of close to reflecting the opposite of the uphill side, and they have been fairly steep and sharp.
I note that on the daily chart the price has crossed the D1 2000EMA (white line) on its way up, and then on its way down, and now sits between the 200EMA (green line) and the 500EMA (purple) and 1000EMA (yellow) lines. I will be watching to see where the price breaks which lines next.
When I look back in the charts to find similar looking pattern, I don't see the same setup. There are a few close ones:
beginning of 2011, beginning of 2008, end 2004, 1998.
there is no volume before this so looking at beginning 1992 and 1990 may not be reflective.
These times generally appear to have a rise, flat and drop, followed by pullback and further drop.
And sure there are also historical times where price drops and then continues to rise.
I think I will be looking for that small pullback (currently up to no more than 1.195) and then the drop down to or past the D1 500EMA (1.1655).
Just my thoughts.
(I look for the reversal trade and try and trade small and be patient so I minimise my losses. I always seem to get carried away and enter too early, and also close too early.
I still have lower sells (so am biased to the downside), so it was great to close EURUSD trades this week in profit, that I put on in December 2017.)
Profit last 52 weeks +44%
- #21,248
- May 10, 2018 3:53am May 10, 2018 3:53am
- Joined Dec 2015 | Status: Trader | 14,257 Posts
{quote} 1.1870 trendline area...hmm.Pound news a lot - volatility at lunch and in 3 min.!!!! Beware folks. Green pips.
Simple analysis. Trend Line + Big Support.
dISCLAIMER: don't fkn mess with the "OIL war" ...anything can happen!
Member
- #21,251
- May 10, 2018 4:06am May 10, 2018 4:06am
- Joined Feb 2017 | Status: pippin' | 1,139 Posts
{quote} I do believe that Teek and others expected bearish trend, and there was many opportunity to enter the train during ranging. From the other side, to stay with SHORT until now, require really strong head. This is what differents analysts and professional trader. Lot of good traders switch to analyst job, they do not need to cut loses, have profitable positions for weeks or montsh. (I am not one or the second and do not say that Teek is both
It is indeed very difficult to put the "being right" into action and profit from it.
As you can see over my last posts how I missmanaged my short positions. I still profit from the "being right" in this short as I had the right entry, anticipated the trigger event against the public sentiments, all good at this point.
But then ended up missmanaging the entire trade, which was a crucial mistake.
I did make money, but lot's of money was left on the table because of a very poor decisionmaking during the trade.
Could have been so easy because I was "right" on the analysis and entry. but I managed it very poor.
"solid analyst but terrible trader", I hear this very often and it's true.
PS: I just want people to know that I take a lot of shit for posting here and I constantly question my intention to help new traders in here because the insults are very real in some of the PM's I get.
I am not responsible for anyones decision process or results, as I am hardly ever responsible for my own shit
you are not expected to understand this
{quote} PS: I just want people to know that I take a lot of shit for posting here and I constantly question my intention to help new traders in here because the insults are very real in some of the PM's I get. I am not responsible for anyones decision process or results, as I am hardly ever responsible for my own shit
- #21,253
- May 10, 2018 4:12am May 10, 2018 4:12am
- Joined May 2014 | Status: Full Time Trader | 27,111 Posts
Focus only on what truly matters!
- #21,255
- Edited 4:29am May 10, 2018 4:16am | Edited 4:29am
- Joined May 2014 | Status: Full Time Trader | 27,111 Posts
Focus only on what truly matters!
- #21,256
- May 10, 2018 4:18am May 10, 2018 4:18am
- Joined Oct 2017 | Status: Follow the Order Flow! | 1,073 Posts
The break to the North have come 
hope U R in!
hope U R in!
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
- #21,260
- May 10, 2018 4:27am May 10, 2018 4:27am
- Joined Feb 2017 | Status: pippin' | 1,139 Posts
{quote} Correct - I made more in the swap than the trade. I could have held some of them longer for a bit more profit, but then that's how this mess started. (I hate to loose a trade - that could be my addictive problem).
I alsmost did, the double top was to tempting, but I was closing out around that time and did not open any new positions because I was super busy and had serious health issues. Secured a lot of the profit in hindsight, but the setup was really tempting and around that 1.20 I did not believe in the 1.25 anymore.
If you are still sitting on 1.20 shorts since last year, congratulations on the positive swap and on having balls of steel.
You sir have my deepest respect for riding this out.
you are not expected to understand this