EURUSD only | Page 1283 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD

Similar Threads

Trading EURUSD only 43,756 replies

Eurusd-5m Trading Only 110 replies

LIVE Trades Only : EURUSD & GBPUSD 123 replies

Strategy behind 1 EA (buy only) and 1 EA (sell only) 2 replies

Script to change EA to long only/ short only at a price level? 1 reply

Attachments: EURUSD only
Exit Attachments

EURUSD only

  • #25,641
  • Jun 15, 2018 8:50am Jun 15, 2018 8:50am
Quoting JustPipMe
{quote} In your experience, aren’t swoops better for a northward movement longer term?
Haven't seen such a big one for a while...
It looks like Bears loose momentum...but take in to consideration low liquidity ATM due Russia's WC 2018.
Its summer, I personally would take Big positions once direction confirmed and add on only when previous entry on BE or +.
Till then - Scalping like a Surgeon
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
  • #25,642
  • Jun 15, 2018 9:03am Jun 15, 2018 9:03am
Quoting JustPipMe
{quote} Yup, the legendary Maximus posted this for us noobs awhile back {image}
hahhahaha I cant believe you kept it
I actually have it printed, looking for the right frame to put it on the wall...
Attached Image
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
  • #25,643
  • Jun 15, 2018 9:04am Jun 15, 2018 9:04am
5 pips on 1min
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_M1.png Size: 102 KB
  • #25,644
  • Jun 15, 2018 9:07am Jun 15, 2018 9:07am
Quoting DanielFankha
I think we will form a right shoulder wich has a target around 1.19500
Whatever made a bounce today had no volumn = no interest in buying.
Market's not interested in buying at this price = lower price to come.
Dragster next week may change things, but doesn't look like 1.195 is happening not before another low.
Just my 2c.
/r
  • #25,645
  • Jun 15, 2018 9:09am Jun 15, 2018 9:09am
Quoting Maxjoy
{quote} hahhahaha I cant believe you kept it I actually have it printed, looking for the right frame to put it on the wall... {image}

i saved. but not clear pic.

I need a clear PIC
  • #25,646
  • Jun 15, 2018 9:11am Jun 15, 2018 9:11am
Quoting Maxjoy
{quote} Till then - Scalping like a Surgeon
Yeah, on my M5 price is ping pong between sma 50 and ema 300. For now anyway
A snails pace wins the race :-)
  • #25,647
  • Jun 15, 2018 9:13am Jun 15, 2018 9:13am
Quoting raju0189
{quote} i saved. but not clear pic. I need a clear PIC
here you are...
Attached Image (click to enlarge)
Click to Enlarge Name: MAXJOY FX CLASSIC PATTERNS PRINTABLE.jpg Size: 827 KB
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
  • #25,648
  • Jun 15, 2018 9:15am Jun 15, 2018 9:15am
Quoting Maxjoy
{quote} here you are... {image}
thank you
  • #25,649
  • Jun 15, 2018 10:14am Jun 15, 2018 10:14am
Quoting hibra68
5 pips on 1min {image}
Hi hibra, can you share your template and indicators. Thank you!
  • #25,650
  • Jun 15, 2018 11:18am Jun 15, 2018 11:18am
I'm done for the week. Scalped a couple dozen this morning, calling it a week! Have a Blessed Weekend, and Happy Fathers Day to all the Dads. Happy Trading!!
Zip
  • #25,651
  • Jun 15, 2018 12:35pm Jun 15, 2018 12:35pm
9 hours ago I had some boring phase idea on my mind.. and here we are.. New question where will it go and when?

To 1.1616 and higher?

or

To 1.1595 and lower?

Time will show... Happy weekends to all..

Stay Green
Attached Image (click to enlarge)
Click to Enlarge Name: EU-H1-Outlook.png Size: 63 KB
Focus only on what truly matters!
  • #25,652
  • Edited 2:23pm Jun 15, 2018 12:44pm | Edited 2:23pm
Quoting whiteeclipse
{quote} Hi hibra, can you share your template and indicators. Thank you!
I will when i get to my comp.
But they are all standard indis on mt4
Bollinger b. Set to default
5 linear weighted high,
5 " " low
10 " " high
10 " " low
50 ema close
Thats it.
Its about multitimeframe analyses involving filters, setups and signals. There is also s/r and trendlines too, but i concentrate on setups first than look for signals.
In a nutshell its how you use it.

here is the template
Attached File(s)
File Type: tpl BBMAszary.tpl   3 KB | 316 downloads
  • #25,653
  • Jun 15, 2018 2:33pm Jun 15, 2018 2:33pm
Quoting Ata-Turkoglu
9 hours ago I had some boring phase idea on my mind.. and here we are.. New question where will it go and when? To 1.1616 and higher? or To 1.1595 and lower? Time will show... Happy weekends to all.. Stay Green {image}
The question i have is after such a strong drop for well over 12 hours, should EU close at or above the 50 fib level of the high and low of that move then would it become a buy signal?
Read my shouts to get myfxbook link
  • #25,654
  • Jun 15, 2018 8:59pm Jun 15, 2018 8:59pm
Quoting IggyMon
{quote} The question i have is after such a strong drop for well over 12 hours, should EU close at or above the 50 fib level of the high and low of that move then would it become a buy signal?
First of all when price comes from below and closes above a specific Moving Average, may it the 50 or 60 or 70 etc. in our case is often not a "buy" signal.. It is actually the beginning where we have to start looking for a sell signal. Let me explain:

Think of dolphins swimming near the surface of the ocean.. Every time you see a dolphin jumping out of water you know immediately that it is the highest point it can go and that it soon will drop back into the water to make the next jump.. Nobody knows when the dolphin will not jump anymore and prefer to stay below water but if you had to short based on dolphin moves the best timing would be when you see it and you would have 100% confidence since you know that dolphins can't fly...

That's exactly what a "trend" trader does on "trending" markets.. and what is also called as "selling high" (or buying low in a bullish scenario). When you decide to trade based on moving averages you must get used to buy each time price goes below the MA line you are watching and to sell each time price goes above the MA line you are watching..

Finally.. the problem comes when the MA line you are watching is not steep enough or flattens out.. A flat MA is a horizontal flowing MA.. It means market is slowing.. Bill Williams calls it the sleeping alligator.. The flattening of a MA reflects a nearing trade opportunity but trading at the time when market is flat will often put your trades in danger and you might get eaten alive by the alligator.. To prevent that often we choose to wait until we see direction in sideways ranging markets because price is often trapped in a box like zone. MA lines will act like a pivot at those times.

Anyways to cut the long story short: in our case you have no other option to look for sell opportunities by risking some pips BUT since the drop was massive you must give your sell trade trigger some room first to take out the pressure the big drop created.. Maxjoy calls it his vacuum theory.. It is a natural phenomena.. "The stronger the drop the higher the retracement might be" type of mentality.. It is not a guarantee though but still, we keep watching and chasing our odds to sell.. The signs of a sell setup will sooner or later show itself.. And if you decide to buy, at least buy the swing lows..

My half cents..

Stay Green
Focus only on what truly matters!
  • #25,655
  • Jun 15, 2018 9:14pm Jun 15, 2018 9:14pm
Just started seeing it about 3 years ago. Doesn't happen very often.

Sometimes the bullish continuation pattern will reach that "target" as specified in this chart, but it will suddenly reverse leaving a large pinbar. When this happens on a higher timeframe, like h4, it is a reversal and your entry is at your old stop loss. #truestory Don't tell anyone. ha
Attached Image
  • #25,656
  • Jun 15, 2018 9:27pm Jun 15, 2018 9:27pm
Quoting Ata-Turkoglu
{quote} First of all when price comes from below and closes above a specific Moving Average, may it the 50 or 60 or 70 etc. in our case is often not a "buy" signal.. It is actually the beginning where we have to start looking for a sell signal. Let me explain: Think of dolphins swimming near the surface of the ocean.. Every time you see a dolphin jumping out of water you know immediately that it is the highest point it can go and that it soon will drop back into the water to make the next jump.. Nobody knows when the dolphin will not jump anymore...
Excellent explanation Ata, I use a few tools to look for entries one of which is the distance price has moved away from an MA - I like to use the 50 period MA personally. Once that distance has been reached I then look into PA and SR levels and so forth as well as now starting to use your LO and NYO lines predominantly the LO as I am in Asia. So far I am still in the paper trade part of my research but I hope to start and contribute more often to your thread. A great weekend to all and wishing everyone lots of success.
maahome
  • #25,657
  • Jun 15, 2018 11:18pm Jun 15, 2018 11:18pm
Quoting 2dollardog
Just started seeing it about 3 years ago. Doesn't happen very often. Sometimes the bullish continuation pattern will reach that "target" as specified in this chart, but it will suddenly reverse leaving a large pinbar. When this happens on a higher timeframe, like h4, it is a reversal and your entry is at your old stop loss. #truestory Don't tell anyone. ha {image}
That's the story of my life, dog! LoL
Member
  • #25,658
  • Jun 15, 2018 11:19pm Jun 15, 2018 11:19pm
Quoting 2dollardog
Just started seeing it about 3 years ago. Doesn't happen very often. Sometimes the bullish continuation pattern will reach that "target" as specified in this chart, but it will suddenly reverse leaving a large pinbar. When this happens on a higher timeframe, like h4, it is a reversal and your entry is at your old stop loss. #truestory Don't tell anyone. ha {image}
Not schooling but, that's a terrible trade.

problem
Look at the RR, you risk more than you can potentialy win, or you aim for a 1:1 which is not profitable in the long run because you need a 50:50 "winrate" to breakeven. (even more because Spread/Commission)
IF you take the trade in this range, it's a breakout trade with a "dirty entry". You anticipate the break of Resistance (top of range) to snatch a few pips out of the initial move. In this case, your stop belongs in the middle of the range to make it a good trade with a reasonable RR.
These can be good trades in high volatile markets, as it is a "low vola" setup that anticipates a trigger event, causing the breakout on a Vola spike. (I often take these trades, but your Stop is too wide, you need the RR to make it a "good trade").
The breakout trade I took on the EUR/USD around 1.22 was such a trade (on the D1 Setup with two inside days, triggered by ECB event Vola spike as anticipated)

In any case, it would be better to wait for the "clean" entry, when the price breaks Resistance, then pulls back and confirms the old Resistance as new Support.
This way, you get a clean technical entry, a tighter Stop, and a much larger potential profit.
IF you take this Stop in the picture, underneith the range botom, which makes a lot of sense, you must be able to ignore the pullback and shoot for a wider target.

Solution
A "split position" entry solves this problem. You can split your position in two parts of 50% each and Target 1 is around 1:1 R, covering 50% of your Risk, when TP1 gets hit you snatched some profit, then trail the Stop to the middle of the range for 25% profit locked in case of the price pulls back into the range. Then see if the pullback confirms support to trail your stop breakeven for 50% profit locked (and booked), to have a carefree and profitable trade.

As long as you trade with a bad RR, focusing on "winning trades" instead of profitability, you are on the wrong track.
A good RR solves many problems and enables you to trade without fear and pressure because you don't need to care about "winning/losing a tade" anymore.
Trading is a longterm game, it is about longterm profitability, not "winrate".
my 2 cents
you are not expected to understand this
  • #25,659
  • Jun 15, 2018 11:28pm Jun 15, 2018 11:28pm
Quoting Teek
{quote} Not schooling but, that's a terrible trade. problem Look at the RR, you risk more than you can potentialy win, or you aim for a 1:1 which is not profitable in the long run because you need a 50:50 "winrate" to breakeven. (even more because Spread/Commission) IF you take the trade in this range, it's a breakout trade with a "dirty entry". You anticipate the break of Resistance (top of range) to snatch a few pips out of the initial move. In this case, your stop belongs in the middle of the range to make it a good trade with a reasonable RR....
Hi, Teek. The point wasn't the RR. (target pure illustrative purpose)
I guess in essence it was about trend strategy versus range strategy.
Member
  • #25,660
  • Jun 15, 2018 11:39pm Jun 15, 2018 11:39pm
Quoting TudorIoan
{quote} Hi, Teek. The point wasn't the RR. (target pure illustrative purpose) I guess in essence it was about trend strategy versus range strategy.
RR has nothing to do with strategy.
If you trade a range breakout (I do this all the time), it does not matter if it's a correctional range setup within a trend and you trade it in trend direction, or if it is a reversal setup at the end of a trend and you trade the swing breakout.
In any case, no matter the strategy, the Stop in the picture is too wide OR the target is too tight.
If you take this trade, split your position, shoot for TP1 (1:1 at least), trail the Stop into the middle, wait for the pullback, trail the Stop to breakeven to lock profits and let the rest run.

"flat drawdown" trading for huge profits...
A trade needs to make sense, no matter what. A trade with a bad RR does not make sense.

In short:
Risking 2 to win 1 is a bad trade.
Risking 1 to win 2 or better is a good trade.
Regardless of setup...
you are not expected to understand this
162 traders viewing now, 2 are registered:
Jewel1996
,
jonnylorenz