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EURUSD only

  • #28,381
  • Jul 13, 2018 3:23am Jul 13, 2018 3:23am
GM - as posted elsewhere.....I've not noticed one here....price now trying to get above that level....a serious move or a fakeout.....TWT
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Trading Levels with WRBs
  • #28,382
  • Edited 3:39am Jul 13, 2018 3:25am | Edited 3:39am
In terms of Dollar we are at a breaking point , if it can manage to break and close above the while line today there is a hell lot room to run further and we might test the 1.15 support again.

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Trades technical moves enforced by fundamentals
  • #28,383
  • Jul 13, 2018 3:31am Jul 13, 2018 3:31am
dx daily
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yes yes yes
  • #28,384
  • Jul 13, 2018 3:46am Jul 13, 2018 3:46am
ok, update H1

Demand got wiped, next Demand around 1.16000, round number and conventional Support level.
Decent Momentum because of USD & JPY strength! I can't recommend opening or holding any Long positions.
Stay careful... it's Friday and there is one event that should be a red flag on the calender but it isn't later today.

Here is the chart:
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and here is the reason for the London Open Momentum:
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and here is the friday morning fun, easy 73 Pips booked on correlation trades:
(partial closes, some of these will carry over into the next week, all of them are riskfree, easy money no stress):
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I'm done, very green weak.
Good luck and happy weekend
you are not expected to understand this
  • #28,385
  • Jul 13, 2018 3:48am Jul 13, 2018 3:48am
Food for Brains: Better Habits of Exiting Trades

I often see traders immediately closing their trades once target has been reached. On the long run you are missing the chances of breakouts and surprising momentums that could add to your profits drastically. Below are two examples how to close more effective on the long run. Of course there might be many more but the purpose is to make newbies think.

I hope it helps..

Stay Green
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Focus only on what truly matters!
  • #28,386
  • Jul 13, 2018 3:53am Jul 13, 2018 3:53am
Quoting Ata-Turkoglu
Food for Brains: Better Habits of Exiting Trades I often see traders immediately closing their trades once target has been reached. On the long run you are missing the chances of breakouts and surprising momentums that could add to your profits drastically. Below are two examples how to close more effective on the long run. Of course there might be many more but the purpose is to make newbies think. I hope it helps.. Stay Green {image}

Nice one . Thank you.
Trades technical moves enforced by fundamentals
  • #28,387
  • Jul 13, 2018 3:54am Jul 13, 2018 3:54am
day when SL kills
Help Others with GOD help
  • #28,388
  • Jul 13, 2018 3:57am Jul 13, 2018 3:57am
Quoting antisystem
{quote} to the pip Price closed below BRN (1.17). Will it fall to 1.16?
H1
If price break BRN (1.16), next area to watch will be 1.1540-1.1560
stay green
Attached Image
  • #28,389
  • Jul 13, 2018 3:59am Jul 13, 2018 3:59am
Quoting JmFinancials
day when SL kills
Lower the TF and you should be much better.
Read my shouts to get myfxbook link
  • #28,390
  • Jul 13, 2018 4:00am Jul 13, 2018 4:00am
DXY IS FOLDING
yes yes yes
  • #28,391
  • Edited 4:10am Jul 13, 2018 4:00am | Edited 4:10am
Quoting amikaking
quick update from Malaysia local time here is morning, 3 hours after the closing of NY session, this is what i seen from my naked eye u do not need any complicated indicators or fib lines, just remember to analyse & determine price bar (in order to locate visible demand & supply), price context and also flip through the higher timeframes like what i see below {image} {image} {image} simple stuff huh? this is exactly what i doeveryday (quick overview) before the london session, i draft a plan from here, then i can determine what price action (h1/h4)...


pls see my previous analysis 5 hours ago, for more info

update on chart 5 hours later

i expect EU to show some correction so maybe i can sell at 1.1700 during pre-london open hours but the bearish momentum is too strong and take EU to break below 1.1665

this weekly demand level zone which i mention this early morning, proved to be resistive yesterday session but nevertheless a weak zone after yesterday NY closing

usually i trade especially the frankfurt & london hourly close, so...price eventually move down and i miss the train (i follow my rule strictly, so i don mind if losing this train & i will continue wait for the another train)

with that said, price should eventually test 1.1600 first, maybe even 1.1570 before it finds fresh buyers there (untested demand zone) and bear taking profits
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  • #28,392
  • Jul 13, 2018 4:04am Jul 13, 2018 4:04am
EU UPDATE P/S ITS H4 CHART
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Self discipline It is a practice
  • #28,393
  • Jul 13, 2018 4:08am Jul 13, 2018 4:08am
EU more downside coming? week ahead ?

US Dollar
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Trades technical moves enforced by fundamentals
  • #28,394
  • Jul 13, 2018 4:10am Jul 13, 2018 4:10am
Hey, me again.
I just been asked a very good question by a guy who never posts but reads everything we do here.
I thought I answer it here because it's a really good question and it might help some newbros to understand why one should NOT trade "assumptions".

Question: why did I not trade this Short on the EUR/USD this morning?

Answer: even though I saw it coming, when I watched the Asia session across the pairs and saw the incoming strength of the JPY and the ongoing strength of the USD, paired with the weakness on the pound, the Aussie and the Kiwi, all giving a very strong indication for the EUR/USD Short Momentum on London Open, I did not take the trade because I did not get a clean priceaction entry. Before the Open the price was in a deadlock position. One can assume, based on how I read the charts, that the price will pull down on Open, but I need a clean entry to take a trade.
If I would have taken this trade, it would have been a winner, but it would also have been a bad trade, simply because I dould not get an entry and I would have traded on assumption and guessing. Regardless of the outcome, every trade must be rational and objective: clean entry, clean stop, clean exit, with rational reason. I never bend this rule. I did get clean entries on the other pairs that I had my eyes on this morning and I traded these instead of the EUR/USD.
So, even if it would have been a winner, it would have been a bad trade.
Think longterm

Happy weekend guys & girls
you are not expected to understand this
  • #28,395
  • Jul 13, 2018 4:11am Jul 13, 2018 4:11am
Quoting IggyMon
{quote} Lower the TF and you should be much better.
I dont use stops
Help Others with GOD help
  • #28,396
  • Jul 13, 2018 4:12am Jul 13, 2018 4:12am
Quoting okshop
EU UPDATE P/S ITS H4 CHART {image}
Yes I checked because I also saw "Daily" on it in small font size.. was confused.. so it is the H4.. all good..

Stay Green
Focus only on what truly matters!
  • #28,397
  • Jul 13, 2018 4:20am Jul 13, 2018 4:20am
for me 1.1590 is next target now
  • #28,398
  • Jul 13, 2018 4:23am Jul 13, 2018 4:23am
sold all my shorts @ 1620 from 1729 and 1740 respectively. wait till1660 good support to add shorts for a move down to 1550.
  • #28,399
  • Jul 13, 2018 4:26am Jul 13, 2018 4:26am
The discussions around "Should traders use a SL or not" just makes me laugh.

Guys.. I will say it only once and you will never hear me talking about it ever again:

"No matter which platform you use may it MT4, MT5, Tradestation, Web Traders, etc., it is never about should we set a SL to a level or not. The idea is to KNOW WHERE TO EXIT YOUR TRADE IN CASE THINGS GO WRONG"

If you are closing with a real SL fine... If you are manually closing while sitting and watching fine... If you are waiting for a candle close above some specific level in your mind fine... If you open another trade into opposite direction and begin hedging fine.. If you are hedging with total different instruments or pairs fine.. No problems in any of these options here..

The only disaster will come for those who have no exit plan at all. Those who marry their opinion and can't let go. That's what it is about. Nothing more. A SL is nothing else than the idea of knowing where to run away and let go. Simple as that.

My two cents.

Stay Green
Focus only on what truly matters!
  • #28,400
  • Jul 13, 2018 4:26am Jul 13, 2018 4:26am
Quoting Teek
Hey, me again. I just been asked a very good question by a guy who never posts but reads everything we do here. I thought I answer it here because it's a really good question and it might help some newbros to understand why one should NOT trade "assumptions". Question: why did I not trade this Short on the EUR/USD this morning? Answer: even though I saw it coming, when I watched the Asia session across the pairs and saw the incoming strength of the JPY and the ongoing strength of the USD, paired with the weakness on the pound, the Aussie and the...
well we both share the similar methodology which is to enter on clean entry & we both also miss the train which is coming (not surprisingly) today

Quoting Ata-Turkoglu
The discussions around "Should traders use a SL or not" just makes me laugh. Guys.. I will say it only once and you will never hear me talking about it ever again: "No matter which platform you use may it MT4, MT5, Tradestation, Web Traders, etc., it is never about should we set a SL to a level or not. The idea is to KNOW WHERE TO EXIT YOUR TRADE IN CASE THINGS GO WRONG" If you are closing with a real SL fine... If you are manually closing while sitting and watching fine... If you are waiting for a candle close above some specific level in your mind fine... If you open another trade into opposite direction and begin hedging fine.. If you are hedging with total different instruments or pairs fine.. No problems in any of these options here.. The only disaster will come for those who have no exit plan at all. Those who marry their opinion and can't let go. That's what it is about. Nothing more. A SL is nothing else than the idea of knowing where to run away and let go. Simple as that. My two cents. Stay Green
well said Ata...

this thread is a place to post, share & view high quality ideas and analysis for EURUSD ONLY & is not a place for Q&A & teaching newbies about forex basics, heck, a question about whether or not to use SL??? seriously are u kidding me?
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