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EURUSD only

  • #31,241
  • Jul 31, 2018 9:43am Jul 31, 2018 9:43am
Trading with a tight stop is not the way to go right now. We are in a very choppy market
  • #31,242
  • Jul 31, 2018 9:45am Jul 31, 2018 9:45am
Hi Guys,

So far from a medium term perspective my buy trades still holding. A perfect bounce off my daily pivot so far today. The rising trendline (magenta) also holding firmly. A break below this trend line could spell a change in direction. Also good to note that we have not had an hourly close below the round number 1.17000. A daily close below 1.1700 will most certainly spell intention for bears.

Currently 300 pips plus since friday last week.

Trade well.

Cheers..
Attached Image (click to enlarge)
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Trade to trade another day
  • #31,243
  • Jul 31, 2018 9:50am Jul 31, 2018 9:50am
Quoting Moty
{quote}...
Quoting Floryn
{quote} Big difference between H4 candles {image}
Now look at the futures.

Attached Image (click to enlarge)
Click to Enlarge Name: E6.PNG Size: 109 KB


Differs from both charts

Should probably erase words like engulfing and shooting star from our trading vocabulary. Probably be better to not have that frame.
  • #31,244
  • Jul 31, 2018 9:54am Jul 31, 2018 9:54am
Quoting Clasieclan
just a thought so please don't shoot me. if the BOE don't raise the expected rate with .25 the cable will dive and it might pull the EU down with her.... stay green
Very unlikely, 8-0-1 votes expected for rising the interest rates on FF, respectively 7-0-2 on MyFxbook, so the needed 5 votes for rising are far away to be done ...

So, on Thu Aug 2 will be a strong bullish movement both for GU and EU 1 hour before NY opening time ...
I am who I am
  • #31,245
  • Jul 31, 2018 9:59am Jul 31, 2018 9:59am
Also, consider that the next 3 days has 2 interest rate announcements and 1 nfp. Mid term outlooks could be defeated by volitility, widened spreads, and the random changes that come with these types of reports.
  • #31,246
  • Jul 31, 2018 9:59am Jul 31, 2018 9:59am
Quoting LookinGood
{quote} {quote} Now look at the futures. {image} Differs from both charts Should probably erase words like engulfing and shooting star from our trading vocabulary. Probably be better to not have that frame.
I disagree, both candle formations can be useful. The problem traders run into is relying on them among a clusterf*ck of other candles (consolidation). Both need to be after a long run.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_H4.png Size: 30 KB
  • #31,247
  • Jul 31, 2018 10:03am Jul 31, 2018 10:03am
Quoting Floryn
{quote} Big difference between H4 candles {image}
timing is everything
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd h4.png Size: 27 KB
yes yes yes
  • #31,248
  • Jul 31, 2018 10:03am Jul 31, 2018 10:03am
Quoting imwim
{quote} Very unlikely, 8-0-1 votes expected for rising the interest rates on FF, respectively 7-0-2 on MyFxbook, so the needed 5 votes for rising are far away to be done ... So, on Thu Aug 2 will be a strong bullish movement both for GU and EU 1 hour before NY opening time ...
they could likely hike , mainly because they don't want to fall behind the FED

but Carney is facing risk from Brexit too , so there's a small chance that they could stand put

but there's a higher probability that they hike than they do not
  • #31,249
  • Jul 31, 2018 10:11am Jul 31, 2018 10:11am
Quoting MXT
{quote} they could likely hike , mainly because they don't want to fall behind the FED but Carney is facing risk from Brexit too , so there's a small chance that they could stand put but there's a higher probability that they hike than they do not
Their propaganda for a rate hiking is very strong : Pound to Shake Off Brexit Blues and Hit $1.50 This Year: ING ...

Source :
https://www.bloomberg.com/news/artic...s-year-for-ing
I am who I am
  • #31,250
  • Jul 31, 2018 10:15am Jul 31, 2018 10:15am
Bearish Engulfing candle in H4 with average volume bar. We are going all the way back in the same consolidation pattern. I am short since de bearish engulfin candle with well average volume bar in H1 at 1.1727.

Regards!
  • #31,251
  • Jul 31, 2018 10:16am Jul 31, 2018 10:16am
Long 1690, 20PIP S/L. Target previous high
  • #31,252
  • Jul 31, 2018 10:21am Jul 31, 2018 10:21am
Quoting Pipfu
Long 1690, 20PIP S/L. Target previous high
That's a courageous thing to do.
  • #31,253
  • Jul 31, 2018 10:23am Jul 31, 2018 10:23am
Quoting Mitiblotch
{quote} That's a courageous thing to do.
Not really, trend is up. Within the larger chop anyway.
  • #31,254
  • Jul 31, 2018 10:25am Jul 31, 2018 10:25am
break down
Attached Image (click to enlarge)
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yes yes yes
  • #31,255
  • Jul 31, 2018 10:35am Jul 31, 2018 10:35am
Quoting Moty
break down {image}
Let's see if the trendline holds.
  • #31,256
  • Jul 31, 2018 10:39am Jul 31, 2018 10:39am
Quoting moty
break down {image}

ha moty what's that indicator you got there in your chart my friend
  • #31,257
  • Jul 31, 2018 10:45am Jul 31, 2018 10:45am
Quoting Dingoman-two
{quote} ha moty what's that indicator you got there in your chart my friend
its based on ema 40, but you can change it
Attached File(s)
File Type: ex4 heiken-ashi-exit.ex4   3 KB | 229 downloads
yes yes yes
  • #31,258
  • Jul 31, 2018 11:10am Jul 31, 2018 11:10am
Quoting Pipfu
{quote} I disagree, both candle formations can be useful. The problem traders run into is relying on them among a clusterf*ck of other candles (consolidation). Both need to be after a long run.{image}
Well, the reason why i say forget about engulfing and shooting star is mainly due to the 3 charts from earlier.

All 3 were 4 hour charts. All three were different.

An engulfing on one chart would be different on another. Each person would have a different entry point (maybe none at all), and possibly a different exits.

Since price bars are a summary of price during a time period, my assertion is that these different summaries can lead to inaccurate systems development.

Selling around the last high or low would have produced the better results than waiting for an engulfing. But that assertion requires to be proven through trade development. As does anything that is stated in these forums.
  • #31,259
  • Jul 31, 2018 11:17am Jul 31, 2018 11:17am
I'm LONG from 1.1697. Lost a whopping $6 positioning for it and now I'd like to let it run a bit if it holds up...

Would debate holding to past close of today's market if it has made some profit, but not much by then. Hopefully it keeps going up though because that is what my STRAT says will happen. =D

Daily bar is at a DOJI right now which is interesting to note... I fee like if this DOJI breaks to the upside there could be more up prior to calming down ahead for the FED.
  • #31,260
  • Jul 31, 2018 11:18am Jul 31, 2018 11:18am
Quoting Pipfu
Long 1690, 20PIP S/L. Target previous high
Sold 1/2 of position +10, moved stop on remaining to -10. At BE....
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