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  • #32,721
  • Aug 7, 2018 1:30pm Aug 7, 2018 1:30pm
Quoting Maxjoy
Short at 1.1605, SL10 p., TGTs .1583 & .1570 {image}
First target hit!
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
  • #32,722
  • Aug 7, 2018 1:32pm Aug 7, 2018 1:32pm
Quoting Ata-Turkoglu
{quote} Key level is 1.1585... Maybe candles will never close below it.. maybe it will hold.. so we must watch M15 or even H1 candles carefully.. M5 will only have a meaning when bigger timeframe gives the clue first.. otherwise M5 will fake you.. Stay Green
Okay. I'll keep watch. Thank you for the heads up.
  • #32,723
  • Aug 7, 2018 1:37pm Aug 7, 2018 1:37pm
Quoting ForeignTrade
Short 1.1590 SL 1.1595 TP 1.1570 Edit 1.1571 Based on several retracements to trendline from 16:00 hr Edit: and because mostly USA reverses London, not written in stone...
Closed manually at 1.1591
Doesn't seem to go down
  • #32,724
  • Aug 7, 2018 1:43pm Aug 7, 2018 1:43pm
Bull targets for the break of .1607:

.1644
.1680
.1704
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
  • #32,725
  • Aug 7, 2018 1:48pm Aug 7, 2018 1:48pm
Short 1593, false break on the 15M downtrend. Overall bullish so this one is short term..... 20 pip s/l initial, will tighten it up big time if it goes my way.
  • #32,726
  • Aug 7, 2018 1:48pm Aug 7, 2018 1:48pm
Quoting wasntme
forgot the chart {image}

target still holds....only question is how tortuous of a path price takes to get there lol
buy the rumor,sell the news
  • #32,727
  • Edited 2:08pm Aug 7, 2018 1:49pm | Edited 2:08pm
look like flag
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd 15m.png Size: 25 KB


Dollar Index is afraid of number 95
Attached Image (click to enlarge)
Click to Enlarge Name: DX D.png Size: 24 KB
yes yes yes
  • #32,728
  • Aug 7, 2018 1:51pm Aug 7, 2018 1:51pm
Quoting wasntme
price shud retrace to 1.1610 and quite possibly to 1.1666...there was no technical reason for price to drop this far except for china and turkey imbroglio trump started. if you payed attention usd/jpy synched up with eu and that should go back up to its technical level.... unless that idiot starts tweeting low volume baby LOL
hope u dont mind me reposting....hate to type a new message repeating myself
buy the rumor,sell the news
  • #32,729
  • Aug 7, 2018 1:54pm Aug 7, 2018 1:54pm
H1
Attached Image (click to enlarge)
Click to Enlarge Name: eu h1.PNG Size: 24 KB
Self discipline It is a practice
  • #32,730
  • Aug 7, 2018 1:59pm Aug 7, 2018 1:59pm
Quoting Dingoman-two
{quote} for the shorts hourly needs to close below 1.15933 imho
It's no longer looking like a short. The bounce from 1.158x was strong. Well, still watching.
  • #32,731
  • Aug 7, 2018 2:01pm Aug 7, 2018 2:01pm
Quoting okshop
{quote} Wavegarrick, I agreed with you statement, Hard stop loss is to instill some sort of order to a chaos environment especially for new & trigger happy traders. A ready & discipline trader. example you would have multiple position say a buy/long bias. And your target TP 1.21, you are willing to loss 80% of your capital & your cut off is 1.12. “Mise en place” an initial stop loss is a must due to adding position / position sizing. (With a stop loss at 1.12 you are able to calculate additional position to add and not be surprise as you...
Hi Okshop,

Thanks for the response. I agree with your words. The fact of the matter is that more traders will get it right most of the time with their entries. The pitfall is that most new traders do not know how to manage their trades after the initial entry. So yes, it is true to say that a stoploss is neccessary for trigger happy traders and more so for traders that are new and dont know the difference between margin levels and leverage. I have to say that I can normally identify traders that are new or not new at this game. Trading is not a quick get rich scheme and takes years of practise and blown accounts. I have been there. I see a lot of new traders trading big lot sizes and of course if you have excess savings or your daddy is rich I encourage you to do so, but please do not take a mortgage on the house to do your trading. This is when I say "Stop". Trade small and take your time with your entries and exits. Build your account and increase lot sizes according to your experience and account growth.

When it comes to stops there are many ways. I am using a trade manager that offsets losers agains winners and that helps in containing an overall drawdown. Just remember that if your trading entry fails more than 50% of the time it is reason enough to be cautious and time to look for either tweaking, enhancing or moving onto a new strat. Having said I never let my margin level drop below drop below 3000%.. Loser are contained with winners. So when it comes to losing 80% of my capital. No such and have not experienced this in many years.

Hope I answered in detail.

Cheers

I like your signature by the way
Trade to trade another day
  • #32,732
  • Aug 7, 2018 2:03pm Aug 7, 2018 2:03pm
Quoting Mitiblotch
{quote} It's no longer looking like a short. The bounce from 1.158x was strong. Well, still watching.
lingering at 1.158x is only for 5 hours more.
Profit growth tells you the trader ability.
  • #32,733
  • Aug 7, 2018 2:05pm Aug 7, 2018 2:05pm
Quoting Pipfu
Short 1593, false break on the 15M downtrend. Overall bullish so this one is short term..... 20 pip s/l initial, will tighten it up big time if it goes my way.
Careful , no sense in giving 20 back , could happen rather easily
Attached Image (click to enlarge)
Click to Enlarge Name: 6 eur to post.jpg Size: 430 KB
  • #32,734
  • Edited 2:49pm Aug 7, 2018 2:05pm | Edited 2:49pm
All 10 EMAs currently 20.05 GMT above All 50 EMAs. What better BUY signal could you wish for?

We are in profit.
Only real values: Valid rules, discipline and experience.
  • #32,735
  • Aug 7, 2018 2:17pm Aug 7, 2018 2:17pm
Quoting Wavegarrick
{quote} Hi Okshop, Thanks for the response. I agree with your words. The fact of the matter is that more traders will get it right most of the time with their entries. The pitfall is that most new traders do not know how to manage their trades after the initial entry. So yes, it is true to say that a stoploss is neccessary for trigger happy traders and more so for traders that are new and dont know the difference between margin levels and leverage. I have to say that I can normally identify traders that are new or not new at this game. Trading is...
Wavegarrick, you are a fantastic personality, your contributions on this thread have been helpful, especially your words of advice as far as trading is concerned
  • #32,736
  • Aug 7, 2018 2:20pm Aug 7, 2018 2:20pm
Quoting sponge
Not sure if we have a new uptrend, indicators seem fine for a new bull run but shorter frames not so fine 1598 resistance but possible 5 waves on H4, 1573 to scupper imo Volume neg atm 18:50 UK anything over 15888 could start the 5th good luck
Sponge, yes today's high can be potential extended W:3 or "regular" W:5 because these two waves can be terminated at the same ratio (-)2.618% I am aware of it....excellent catch....nice to see someone else with thinking that different scenario might be in play...
Attached Image (click to enlarge)
Click to Enlarge Name: eur8-715M.c.PNG Size: 107 KB
Always trade your own plan...I don't provide trading signals.
  • #32,737
  • Aug 7, 2018 2:22pm Aug 7, 2018 2:22pm
Quoting voketexpert
{quote} lingering at 1.158x is only for 5 hours more.
What are you expecting?
  • #32,738
  • Aug 7, 2018 2:23pm Aug 7, 2018 2:23pm
Quoting digger1
{quote} Careful , no sense in giving 20 back , could happen rather easily {image}

Ha Digs,

It could as easily return to the weekly open as well dont you think
  • #32,739
  • Aug 7, 2018 2:31pm Aug 7, 2018 2:31pm
I think in a few hours many will see why I don't prefer breakouts of steep trendlines.. especially when candles go back below 1.1585 it will be obvious and probably too late for early buyers..

Stay Green
Focus only on what truly matters!
  • #32,740
  • Aug 7, 2018 2:34pm Aug 7, 2018 2:34pm
let's the long continue
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd h1.png Size: 59 KB
yes yes yes
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