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  • #20,241
  • Jun 14, 2018 12:27pm Jun 14, 2018 12:27pm
AU getting ready for TREMENDOUS upside, once PA.
  • #20,242
  • Jun 14, 2018 12:32pm Jun 14, 2018 12:32pm
Listen guys and I am going to say this last time

CHF is inverse of Euro.Same set up is almost exactly on EU but there is a difference

CHF -0.75
EU 0

Which is more expensive to trade against USD!

That's -2.75 swap daily from your account vs 2.0 If you think this does not matter think again everything adds up.
In trading, you have to be defensive and aggressive at the same time
  • #20,243
  • Jun 14, 2018 12:42pm Jun 14, 2018 12:42pm
Quoting Davit
{quote} Losing trade is when you are clearly wrong and basically you are pulling the plug and reached your max loss criteria you set for yourself read page 1 on sL. DD trade is when trades are within prospects of becoming winners. MY AU UJ very winning potential and DD here is normal.Time is a factor again in trading.This week is very bullish on USD next week could turn around and correction maybe in the cards.If I think I am wrong on both UJ and AU and PA continues bullish USD I will pull the plug but not there yet.
thank you Davit!
  • #20,244
  • Jun 14, 2018 12:46pm Jun 14, 2018 12:46pm
Keep in mind every swing basically ends with a spike.
MM push take stops create liquidity then unload their main positions.
In trading, you have to be defensive and aggressive at the same time
  • #20,245
  • Jun 14, 2018 1:13pm Jun 14, 2018 1:13pm
Quoting Davit
Listen guys and I am going to say this last time CHF is inverse of Euro.Same set up is almost exactly on EU but there is a difference CHF -0.75 EU 0 Which is more expensive to trade against USD! That's -2.75 swap daily from your account vs 2.0 If you think this does not matter think again everything adds up.
On top of that. The CHF is the most heavily manipulated currency of any developed nation and based on the volume also a very small currency. Switzerlands currency by nature is strong as it - I believe by 25% or more backed up by Gold. Switzerland obviously has close economic ties to the Eurozone. They cannot allow their currency to get too strong. In 2014 the central bank dropped their peg to the Eur and let the CHF appreciate. Almost 3000 !!!! pips in a matter of minutes and there was no way any stop loss would have protected you because everybody pulled their buy orders. Since then I do not even grab this currency with a pair of pliers !!

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  • #20,246
  • Jun 14, 2018 1:24pm Jun 14, 2018 1:24pm
Quoting Jester_73
{quote} On top of that. The CHF is the most heavily manipulated currency of any developed nation and based on the volume also a very small currency. Switzerlands currency by nature is strong as it - I believe by 25% or more backed up by Gold. Switzerland obviously has close economic ties to the Eurozone. They cannot allow their currency to get too strong. In 2014 the central bank dropped their peg to the Eur and let the CHF appreciate. Almost 3000 !!!! pips in a matter of minutes and there was no way any stop loss would have protected you because...
I remember that and was something to see. I had a SL just below the 1.2 peg and got stopped and my SL was honored as I had a decent broker.
  • #20,247
  • Jun 14, 2018 1:27pm Jun 14, 2018 1:27pm
Quoting Davit
Keep in mind every swing basically ends with a spike. MM push take stops create liquidity then unload their main positions.
So true.
Catch one of those spikes on key level and have TDI confirming and you have a high probability trade. No need to fight for a trade...look for clues and ride with their moves.
When I stopped fighting the market I learned that I had to get inline with what it was doing and take advantage of the times it was willing to pay up.
Davit's method gave me the edge to locate those opportunities.
Invest in Life
  • #20,248
  • Jun 14, 2018 1:32pm Jun 14, 2018 1:32pm
Quoting Davit
Listen guys and I am going to say this last time CHF is inverse of Euro.Same set up is almost exactly on EU but there is a difference CHF -0.75 EU 0 Which is more expensive to trade against USD! That's -2.75 swap daily from your account vs 2.0 If you think this does not matter think again everything adds up.
You have stated this several times in this forum. I removed it from my charts. This is one of the words of trading wisdom that I have picked up from you. Another one is, using smaller lots enables me to handle more DD while trade develops...I appreciate all of the wisdom that you have shared through out this forum. Cheers!
  • #20,249
  • Jun 14, 2018 1:41pm Jun 14, 2018 1:41pm
I'm hoping we can get reversal here in AU. Looking for buy signal at this next candle close.
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  • #20,250
  • Jun 14, 2018 2:00pm Jun 14, 2018 2:00pm
Anyone here still long AN?
In DD as we speak.
  • #20,251
  • Jun 14, 2018 2:02pm Jun 14, 2018 2:02pm
Quoting pgr45za
Anyone here still long AN? In DD as we speak.

I'm in DD myself. Need to wait, nothing to worry
The only thing that will make us successful is if we can control ourselves!
  • #20,252
  • Jun 14, 2018 2:02pm Jun 14, 2018 2:02pm
Quoting joefrombrook
I'm hoping we can get reversal here in AU. Looking for buy signal at this next candle close. {image}
prob only 7475
  • #20,253
  • Jun 14, 2018 2:11pm Jun 14, 2018 2:11pm
Quoting pgr45za
Anyone here still long AN? In DD as we speak.
Also in AN, no cause for alarm at the moment, fire power to buy all the way to 1.055/1.06 levels. Trade small and smart. Green pips
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #20,254
  • Jun 14, 2018 2:14pm Jun 14, 2018 2:14pm
Quoting pgr45za
{quote} prob only 7475
Prof, I will really like to hear your fundamental view (medium to long term) on the EURO, in light of the developments today. Thank you
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #20,255
  • Jun 14, 2018 2:17pm Jun 14, 2018 2:17pm
Am also in AN.
No need to fear
Watching EN too. its pattern on H4 is lining up with pivot.
  • #20,256
  • Jun 14, 2018 2:26pm Jun 14, 2018 2:26pm
Quoting emmkwad
Am also in AN. No need to fear Watching EN too. its pattern on H4 is lining up with pivot.
From a sentiments and recent developments perspective, I will be cautious with the EURO.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #20,257
  • Jun 14, 2018 2:26pm Jun 14, 2018 2:26pm
Quoting lordgbengs
{quote} Prof, I will really like to hear your fundamental view (medium to long term) on the EURO, in light of the developments today. Thank you
Short term is good news for European economy as interest rate hikes are postponed.
But, not so good if the economy is weakening as it seems to be.

End of QE will only come once economy is stronger and after interest rate hikes.
So I guess this means E down for some time, unless a catalyst of some sort appears.

Trade war is heating up and Europe is a very open economy to the rest of the world.
Brexit muddles are not helping either.

Long-term, euro has many problems - overindebtedness. Can it stand on its own two feet without QE? Only time will tell.
  • #20,258
  • Jun 14, 2018 2:41pm Jun 14, 2018 2:41pm
On the other note ... You were surprised Davit why it didn't get quieter after you moved your thread to trading systems ...

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  • #20,259
  • Jun 14, 2018 2:43pm Jun 14, 2018 2:43pm
Quoting pgr45za
{quote} Short term is good news for European economy as interest rate hikes are postponed. But, not so good if the economy is weakening as it seems to be. End of QE will only come once economy is stronger and after interest rate hikes. So I guess this means E down for some time, unless a catalyst of some sort appears. Trade war is heating up and Europe is a very open economy to the rest of the world. Brexit muddles are not helping either. Long-term, euro has many problems - overindebtedness. Can it stand on its own two feet without QE? Only time...
Many thanks for your useful insights as always.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #20,260
  • Jun 14, 2018 3:12pm Jun 14, 2018 3:12pm
Quoting pgr45za
Anyone here still long AN? In DD as we speak.
I'm in and in DD. I will bail of it breaks south of 066 area (key level)
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