EURUSD only

WARNING : Explicit Trading Content

So what have you decided to do Teek ??? ==

With scalping put aside, i find levels are truly the key for me,

"JUST PLAYING HERE TEEKS"

honestly? I give you a little bit of an insight that I usualy wold not share, for your better understanding of my attitude towards trading and life.

let me go back to a day to a point in my life, to which I will never go back again

when I was defeated and gave up, there came a decision:
what I decided to do when I lost everything I ever had, I ever worked for, I sweat for, I bleed for, over the better part of my life?
what I decided to do when there was nothing left, when I was alone, when I was laying there in bed, not being able to pay the rent, pay energy cost, pay for food, beaten and defeated by my ego and my pride, wife gone, daughter gone, friends and family gone dead and buried, lost everything within only two years, laying there no income, no energy, no will, no hope, no believes, only emptyness and silence, exhausted burned out, a dead man, long given up on myself, lost myself, no identity, nothing. I fell into the deepest darkest hole I could never imagine in my wildest nightmares... laying there with nothing but silence. with only one wish left: "die", but my damn body refused to stop breathing, for whatever reason.

Well... the first thought that I can remember from that day, July 22nd, 2:20pm, six years ago, was: "get up"
and so I did.

the exact time I laid there I do not know, I am still missing 5 days of which I must have been laying in bed in total darkness. Neighbors told me they didn't hear anything, they didn't see anything. To the day I can not remember what exactly has happened.
But I do know that I survived. I am alive. That's all I need to know.

Been there, done that.
I fight my very own battle my friend, every day. and I have to make the same decision ever day. Will I live or will I die.
I never take the easy route. I get up. Every day. Then I work.
Survive what I survived AND get back on your feet, start over with nothing and nobody, and fight.
Then anyone ask me for shortcuts and the "easy way" again.

Never refuse defeat, never refuse isolation, accept it, embrace it!
Both of these are the greatest gifts the universe has to give you and eventualy you will find yourself in there.

Got motivation problems?
> stay true to yourself, stay strong, stay hungry, walk alone, keep going, the hard way, keep going!

I am not where I want to be, but I for sure am not where I used to be, and that's good.
fight, never stop

For new comers,

If you are lucky enough to survive in the beginning of this business. good for you.
Then it will probably come to the point where your ego and pride swallows you whole and completely blinds you.
Remember this. No matter how good you think you are, you do not own the market. They do.
Cut the loss earlier and move on. Cherry pick your trades and do not hit buy and sell button all day everyday.

@Teek,
Very touchy story you've shared, my friend.
Hope you are feeling better today.
/r

Hmm you have a very familia story there Teek,

Trading is where my head is at, and i will stay at, because i have lost and learnt so much over the years that i have no desire in giving up,

one of the real turning points for me in my trading/training/learning, "has been here at Forex Factory"

I can't tell you how many times and how close i have come to just walking away from it all,

but a lot of thanks goes out to people like yourself Ata,Digger,Tudorloan,FXClarity just to name a few,and not meaning to forget all the others and there input here,

"Especially here at the EUR Only Thread"

Keep up the good work Guys/Girls,

As a strong supporter for the little guy all my working life I cannot tell you who much this realy impresses me.

Cheers to all who contribute and help others.

Brian Dingoman-two

There's a lot of ego and pride on this thread.

Bad question to ask. If you still want an answer read the posts here, there are plenty of predictions - bulls, bears, stay out, whatever. Plenty of choice for you.

You want to be a better trader - get rid of the word predict.
Tell yourself "I don't know what the market will do this Monday."
"I don't know what the market will do this coming week."

Recite that few words and master it. You are already ahead of the crowd. Do this long enough, it sets you on the path.

what he said
be patient, put the work in, learn, don't focus on results, don't try to "win trades", don't guess, don't "I think it will... I go short"... this never gets you anywhere. Yeah you might win a few trades from time to time, but no worries, you will lose it back and much more. In the end you lose, doesn't matter when.
When a guy with experience meets a guy with money, the guy with experience will walk away with the money and the (now broke) money guy walks away with expeience. That's the name of the game.
I know that's the shit you being told by the trading education industry: "click this button when this line crosses that line and you too can have the Ferrari with he naked model on top"... truth is: no you can't.
Don't buy into this nonsense, trading is hard, it's not easy, and it's not for everyone. Very few people have what it takes to push through it. You need insane patience, insane discipline, and the right attitude. Stop chasing pips, if you do the markets will slap you around, period. The entire retail trading industry and especialy the education industry that comes with it is build for only one reason: get your money, as fast as it can, and as much as it can, make you push that button more often. Stop doing this, remove all this crap on your charts and start learning. Most people want to trade but they never waste a second on leaning what a market really is. They keep doing things that they would never do in real life. Would you buy that car when the price for it is at it's high? Wouldn't it be smart to wait until the price is at it's low and then buy the car? But people insist on clicking these buttons when the markets clearly show no opportunity to do so.

The common answer I get is "oh but I am a scalper, there is always opportunity".
No you are not.
In order to be a scalper, you need to see and be able to trade ticks in the orderbooks. Chances are, you never see them. What you do on your Metatrader Minute Charts has nothing to with Scalping.
The guy who is flipping a 16k Lots order back and forth two ticks fo four hours straight, spoofing with 80k Lots blocking orders that get autocanceled before filled, pre-ECB to get the price to where his Pending 100k Lots orders are waiting, right to the point of the ECB press release, that's a scalper. (yes I know such a guy and I can assure you he never looks at pricecharts, he is laughing about every Stop he eats, every day.
And he eats you alive all day long. Stop fooling yourself, these guys are the smartest people on the planet, who are you trying to compete with, when your orders never even hit the market on your shit execution platform against your Marketmaker broker who btw, auto-trades the other side of your trades unhedged because he wins 90% of the time totaly riskfree, as long as you keep clicking the "rob me please" button?
Don't like it? Reality it is. Open your eyes guys, you are getting robbed blind by your own (well conditioned) habits.

In order to become good at this and pull consistant profit from it, it takes years, and an unbreakable will to get there. It's a tough game, and all the nonsense that is told by all these Youtube educators is only designed to take your money. They get paid for this. Do you know often I am offered IB contracts to start pushing the false narrative, because I can attract a lot of people?
Don't buy into this shit.
The reality of a market is: where is buying/selling and who is buying/selling, that's all that matters. Everything else is distraction and only adds to your confusion.
You need to become damn smart if you want to compete in this game, and if you don't develop the right mindset, you will never stand a chance.
It's not an "unfair" game, nobody clicks the button for you, you decide what you do and what you don't. If you constantly find yourself losing, you are doing it wrong, period. It's not the "robberbanks", it's not the "evil broker", it's not people who have more money than you. It's you and you alone.
If you are looking for "system", or a "get rich quick" scheme, you are already lost.
It does not matter if you are trading some household money that you put aside each month to have some skin in the markets, your goal must be growth.
When I started over, I had nothing, living off welfare, mowing grass and doing shit jobs five times a week to get a little bit of money to buy food and get me back into the game, I started with 300 Euro and traded my way up again. I still trade on this foundation that I build little by little and nobody ever gave a dime on my name or offered any help (I would have never asked for, I rather die starving or freezing), so don't tell me "oh I am just playing a small account". If you play, play it serious, or find something better to do with your money. Accountsize does not matter. A good trade is a good trade and a bad trade is a bad trade, no matter how large or how small the trade is and no matter the result of it.

Protect yourself and grow, slow but steady. Keep it reasonable and don't buy into people selling dreams. It's possible, I did it twice with nothing. And I fucked up more money than most of people here will ever see, both my own and other peoples money. I made every mistake one can possibly make in this game. I sold the lows I bought the highs, I traded bias and opinion... I did it all. Took me a lot of pain and many years to learn the truth and put it into action, I still pay the price every day as I fight myself out of that hole since six years, every day.
It takes time, it's a tough game. That's the truth and no, you can not have the Ferrari with the naked woman on top of it.
(if I can't, and Ata can't, and pki can't.. then damn, you can't, noob! )
Truth is never easy to accept, but very painful to learn when the markets start teaching you the hard way.
But don't worry, there is no shame in being on the wrong side of the fence. There is only shame in staying there.

"Hope you are feeling better today."
Oh don't worry, I am tough as f*ck, unbreakable.
That's the good thing about it. If you have to overcome enough shit, it makes you damn tough

PS: a valuable lesson from someone who knows both sides: if you can not be happy without money, you will not be happy with money.
Stay humble. Good luck


this advice is gold. Live it.

Amen

Cheers, brotha.

A work/life balance is needed also. I put 10-12 hours a day in forex, but I enjoy life outside of my trading hours and on weekends. I dont think its needed to put EVERYTHING aside. Your whole life, you can succeed studying 8-10 hours a day, focused and smart study. I think you get burnt mentally if forex is your ONLY focus, working out and doing physical activitity also is needed. If I dont do physical activity every day I go crazy. You need a life built around trading which will allow you to succeed.

At first I would get really mad if I was out sleeping or doing something else and missed the perfect opportunity. But that’s being a trader, I trade what I see when I see it during my trading hours. In hindsight everything is easy. There will always be a next opportunity in the markets focus on getting in when you are there to take the trade.

How many times have you regretted not taking a trade at the end of the day for X reason?

I personally know a VERY successful trader who just trades for 4 hours a day. His advice to me when I told him I was worried about not trading in any given day was to just be patient and take the a++ trade, if it isn’t there then don’t force it. He tries to get one trade a day and if it doesn’t how up then he doesn’t care. “Make some money and then go out to play”.

If you are not mentally sane forget about being a good trader IMO. How can you handle the psychological struggles of a trader, how can you be patient and not go crazy when you are on a bad streak? Personally I have started meditating in the mornings too, before trading. It has helped me a lot.

The market doesn’t care if you trade or don’t trade, it doesn’t care if you make stupid mental mistakes, it doesn’t care if you fucked up because of whatever reason, and certainly doesn’t care if you lose your money. So be focused and don’t have excuses.

Hi Guys,

All respect to the good old folk here. I simply love Teek's posts and I can see that he has a deep understanding of the markets. To be honest with you I will be at wits end if I studied the poop that Trump, Draghi or any of these poopsters talk. I would be too scared to trade. I would rather study my baby's poop all day long.

Trade your trade and trade your edge.

A bit further into my philosophy. If you have a 70% winning record with 1 dollar lot sizes why not break it down into .10 cents lot sizes. In this way you have 10 chances of getting it right.

Have a great weekend

Cheers

So all good trading gossips this weekend! add a little to it, trade of your & time in same fomula:2-5% risk at any time may maximum use. Otherwise it will harm physical and mental health & certainly finally financially also because one try to pocket all moves/all legs up and down as not want miss opportunity, may loss one place, start hedge to cover up & all amalgamation of his trading system, style, get lost in all anarchys and lost one black Friday as one can not sit all day even trades open, in big lots & over sure analysis and perfect market timings!! Lots other jobs in everyday life! So if one day one have enough time can watch market 15min x4-5times a day to see his trades /setups and analysis, should be enough. EU analysis same as before , firm footing towards 1.1500 to bounce try next time. Only short at any bounce continues. Take care, fontu

hey there Fontu , I believe too market is heading down and we could see 1.1500 or even sub 1.1500 levels in about 1 / 2 weeks

Take care ,
MXT

Totally agree with this. EUR/USD is hitting a very strong resistance around 1.18. cant seem to break it anytime soon

Technical Outlook for EURUSD Monday:

On 4-Hourly Chart:
The rejection from 1.1616 support area seems to be continue upto 1.1675 resistance which is also a pivot level on Daily Chart from which the market could go downside other wise further upside pressure will continue upto 1.1745 area which is also a daily resistance. BUT if the price breaks above the 1.1745 area in H4 chart we could possibly see the the BULLISH trend reversal.




On Daily Chart:

On D1 chart, Currently this pair is running below 20 day SMA and from the friday close, the candle was not able to close above the 20 Day SMA which is also giving an indication of further decline upto 1.16086 after some bullish move upto 1.1674 pivot level. The market is currently moving in consolidation state which is also a strong signal of bullish / bearish trend reversal.



On Weekly Chart:
On W1 chart, Currently the pair has been pushed up after hitting the 1.1541 weekly support. Clearly we could see more upside pressure this or next month as the pair has been rejected from the 1.1541 area. If the pair will be unable to break this support level, it could go further upside upto 1.20925 where it could be again rejected to create a WEEKLY HEAD AND SHOULDER PATTERN.



Pivot Levels to Watch



Summary of Analysis
The summary of all Timeframe Charts is that the EURUSD pair is currently in a consolidation state and also created a falling wedge pattern which is may be indicating the strong bullish reversal soon. So instead of following a trend, the only thing that we can do is to trade this pair according to the support and resistance levels declared above on Daily and H4 Charts. We can also trade on Pivot levels provided above. Bearish Eurusd Sentiment cannot be ignored but the chances for the bulls empowering is more than 65%.

Trade with your own mind !! Have happy Weekend as well as Happy Green pips next week !

Hello Everyone.

We have a bullish engulfing candle with sustained volume at 12H. I´ve just put a buying pending order at 1.1664 with SL at 1.1614 and T1: 1.17178 and T2: 1.1739.
We have a consolidation pattern in all small time frames 5Min,15Min,1H, and I believe It is going to break to the upside with the EUR economic realeses of Monday and Tuesday. The other posibility is that the consolidation pattern continues to the next Wednesday that we have USD economic realeses, but my forecast is to the upside for the Euro, in fact this is the third time we have a bullish engulfing pattern with sustained volume at the same zone 1.1637-1.1616 at 12H; the first one was on 13 of July and the second on 19 of July so I go for this third one.

I hope to make 127 pips by the first two days of the week, and if nothing of what I just said happen maybe I will wait for wednesday movements if they may be, because the next friday USD have a huge economic relase, that I belive will break with this huge consolidation pattern we are struggling since the past weeks almost months.

For the long I expect to sell de EUR just after price confirms Head and Shoulders pattern at 1D and 1M. In fact, I am waiting to see the right shoulder with this upside move that I am expectig for the EUR in next days.

Have a nice trade week. And I Will be very happy to read your opinion of my forecast and also to read yours! Regards!

Last week was critical and very risky as I am still short only in my plan, 1.1600 and down now logical as support, OK not need that old 1.15 but at some new support if can develop. Anyway this week I will not play this pair but Wil be l watching if any chance to play only for next week. Take care, stay away any probable risk till feel comfort. Fontu

i fully agree lady, weekly eu is strong bullish

1640 support needs to hold to continue the momentum

sentiment: bearish

fundamental: hawkish FED & dovish/neutral ECB

what to do: wait for setups that only “sells” rallies

clean & untested level since May: 1.1500

others: falling pattern wedge pattern (bearish continuation)

others: EU sesonality (August: bearish month for the last 15 years)

all in all, bias for August: BEARISH