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Fundamental Trading Always beats Technical Trading 100%

  • #1,061
  • Aug 15, 2018 6:21am Aug 15, 2018 6:21am
This image sums everything up. I thought it would be a clear example of market driving. Source: forexlive.
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  • #1,062
  • Aug 15, 2018 9:55am Aug 15, 2018 9:55am
what is friday forecast for eur cpi 2.0 or 2.1?

fxstreet:

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ff:
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Also why building permits tomorrow became orange? First was red, and historical were red. Did it became unimportant? I am shorting GBPUSD based on this, and there is good forecast for GBP retails sales, but I am hoping that building permits plus today USD good news win. But if it is less important, then maybe I have to reduce my positions.

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  • #1,063
  • Aug 15, 2018 10:19am Aug 15, 2018 10:19am
Quoting Samson85
{quote} Update on eur/usd: currently 40 pips in profit and i expect more tanking today or for the dollar to take a breather. I took a technical long on bitcoin as it hit a few support levels on the 1 day chart {image} {image}
Bitcoin technical entry performing well. The key level for support has always been around 6k. Stop loss is at breakeven.
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  • #1,064
  • Aug 15, 2018 10:20am Aug 15, 2018 10:20am
Quoting SPeedFANat1c
what is friday forecast for eur cpi 2.0 or 2.1? fxstreet: {image} ff: {image} Also why building permits tomorrow became orange? First was red, and historical were red. Did it became unimportant? I am shorting GBPUSD based on this, and there is good forecast for GBP retails sales, but I am hoping that building permits plus today USD good news win. But if it is less important, then maybe I have to reduce my positions. {image}
Forex factory does tend to be accurate but I would also check on other fx sites for clarification and your broker calendar
  • #1,065
  • Aug 15, 2018 10:26am Aug 15, 2018 10:26am
Quoting SPeedFANat1c
what is friday forecast for eur cpi 2.0 or 2.1? fxstreet: {image} ff: {image} Also why building permits tomorrow became orange? First was red, and historical were red. Did it became unimportant? I am shorting GBPUSD based on this, and there is good forecast for GBP retails sales, but I am hoping that building permits plus today USD good news win. But if it is less important, then maybe I have to reduce my positions. {image}
I have it at 2.1%
Trade what you see, not what you think!
  • #1,066
  • Aug 16, 2018 1:24am Aug 16, 2018 1:24am
This morning's trade is the Norge bank interest rate release at 9am. I have shorted into the event expecting the norge bank to the Stance on hiking rates next month and then from twice a year onwards.
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  • #1,067
  • Aug 16, 2018 3:14am Aug 16, 2018 3:14am
Quoting Samson85
This morning's trade is the Norge bank interest rate release at 9am. I have shorted into the event expecting the norge bank to the Stance on hiking rates next month and then from twice a year onwards. {image}
0 fireworks.

Position closed. Rate hike next month
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  • #1,068
  • Aug 16, 2018 3:32am Aug 16, 2018 3:32am
Quoting Byrig
This image sums everything up. I thought it would be a clear example of market driving. Source: forexlive. {image}
This is what its all about.
So many people stick so much crap on their charts - without looking at what institutions really look at
By knowing how an economy is performing, and following in depth what Trump/Putin/Brexit/NAFTA/Turkey etc... are likely to say/do puts one ahead of the curve
Obviously, knowing how institutions are likely to react, from where and how they do it is helps even more
  • #1,069
  • Aug 16, 2018 3:49am Aug 16, 2018 3:49am
Quoting Samson85
This morning's trade is the Norge bank interest rate release at 9am. I have shorted into the event expecting the norge bank to the Stance on hiking rates next month and then from twice a year onwards. {image}
is it only me who does not understand your charts? where is short, were SL, TP ? what do those bricks mean?

btw interesting action after GBP retails sails news - sudden jump but now going down. Looks like hit the support at 1.2715. But will this support hold? I am still keeping short for USD building permits.
BTW I have noticed that GBP news impact eurusd so highly. SO king of when trading eur, I have to look also into GBP news. ANd if I really wan tto sell eur for example but gbp news are good, then I proalby have to sell eurgbp instead of eurusd.
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  • #1,070
  • Aug 16, 2018 3:53am Aug 16, 2018 3:53am
Quoting SPeedFANat1c
{quote} is it only me who does not understand your charts? where is short, were SL, TP ? what do those bricks mean? btw interesting action after GBP retails sails news - sudden jump but now going down. Looks like hit the support at 1.2715. But will this support hold? I am still keeping short for USD building permits. BTW I have noticed that GBP news impact eurusd so highly. SO king of when trading eur, I have to look also into GBP news. ANd if I really wan tto sell eur for example but gbp news are good, then I proalby have to sell eurgbp instead...

Well if you look at the chart properly you can see the stop loss and the take profit. The brick is the entry.

Rather than type drastically pay attention to the detail or show trade examples before you criticise!!!
  • #1,071
  • Aug 16, 2018 4:05am Aug 16, 2018 4:05am
Quoting Samson85
{quote} Well if you look at the chart properly you can see the stop loss and the take profit. The brick is the entry. Rather than type drastically pay attention to the detail or show trade examples before you criticise!!!
I tried to pay attention few times, but all the time I could not understand. And even now I do not understand. Ok brick is short - which line of the brick is short for example? How would it differe if it were long? Which line is TP? What do those colors mean like red 9.55956 is it danger zone?

I can show my positions:

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Pending:
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  • #1,072
  • Aug 16, 2018 5:34am Aug 16, 2018 5:34am
Quoting Samson85
{quote} Bitcoin technical entry performing well. The key level for support has always been around 6k. Stop loss is at breakeven. {image}
Bitcoin update: still in profit and targeting 7800. Did a mini deep pull back and considered adding but don't want too much exposure.

Stop loss is at breakeven so risk free
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  • #1,073
  • Aug 16, 2018 5:36am Aug 16, 2018 5:36am
Decided to take a short on usd/try and the reason is that it so heavily overbought so I am targeting 5. The stop is just above the daily pivot
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  • #1,074
  • Aug 16, 2018 5:36am Aug 16, 2018 5:36am
Updated pending orders and moved SL for current orders

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GU Pending orders expire 1 hour before USd Building permits.
  • #1,075
  • Aug 16, 2018 5:39am Aug 16, 2018 5:39am
Quoting Samson85
{quote} Update on eur/usd: currently 40 pips in profit and i expect more tanking today or for the dollar to take a breather. I took a technical long on bitcoin as it hit a few support levels on the 1 day chart {image} {image}
Eur/USD update: I took a second entry on this yesteday with the 1st position still in profit and the second entry dancing around breakeven. The target is still 1.12/1.11
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  • #1,076
  • Aug 16, 2018 7:25am Aug 16, 2018 7:25am
closed all trades. From all of them 0.35 cent profit while yesterday was 30 at one moment. And could close at better, I see now price drops again but it goes randomly, I cannot understand what are they thinking. Other times before news they start going to opposite direction forever. This time went down as of writing.

And the biggest problem that I have lost 14 cents yesterday when trying to catch uptrend GU before GBP inflation data. WHen I entered position, trend turned around So this week will be negative probably.
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  • #1,077
  • Aug 16, 2018 10:19am Aug 16, 2018 10:19am
with the news of renewed trade talks between China & USA for later of the month likely give the USD and safe havens (CHF, JPY) a breather.

Also, Turkish situation is dying down after $15billion investment from Qatar. Eur pairs should see some strength from here.
Trade what you see, not what you think!
  • #1,078
  • Aug 16, 2018 1:09pm Aug 16, 2018 1:09pm
Quoting OMGtrader
with the news of renewed trade talks between China & USA for later of the month likely give the USD and safe havens (CHF, JPY) a breather. Also, Turkish situation is dying down after $15billion investment from Qatar. Eur pairs should see some strength from here.
interestig, why daily candel is forming bearish pinbar in eurusd and gbpusd then. Or will it rise still today?
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  • #1,079
  • Aug 16, 2018 1:35pm Aug 16, 2018 1:35pm
Quoting SPeedFANat1c
{quote} interestig, why daily candel is forming bearish pinbar in eurusd and gbpusd then. Or will it rise still today? {image}
USA just threatened by sanction on Turkey if they don't release the pastor.
Trade what you see, not what you think!
  • #1,080
  • Aug 17, 2018 3:46am Aug 17, 2018 3:46am
Trade updates:

EUR/USD - entered another short this morning because we had a euro spike based on news that America is pressuring China. Simple rule is sell on the highs as fundamentally eur will go down along with cable. In tempoerorary drawdown.

USDTRY is tricky but still in the balance.

Bitcoin is lovely and this trade is up more than 350 points.
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