DislikedHello cesar8, Gold weekly reached structure to consider short. Probably why price slowing. Thanks {image} {quote}Ignored
Attached Image (click to enlarge)
2
- #783
- Oct 26, 2018 7:20pm Oct 26, 2018 7:20pm
- Joined Jul 2011 | Status: Gold Again | 10,560 Posts
It takes a lot for me to IGNORE you, but you can try.
Hi guys, see how the swing level was respected... {image}
Like this trade i took for EURUSD 2 weeks ago. The price was showing strong bearish signals. I made a Sell trade where I marked "A" [check chart below], thinking that the price has past through major support significantly [yellow line], expecting a breakdown, only for the price to move up a bit and taking out my stop. loss. Then price looked like it was beggining a bullish leg, only to suddenly go back down.
If someone had taken a Buy trade, where I marked B [check chart below] which was showing healthy bullish power, they would have been fooled as well, as priced suddenly reversed down. This kind of whipsaw is frustrating.
Can anyone tell me what if I did wrong here or where I missed out some important analysis or news ?. Could I have prevented these situation, or its one of those irrational forex situations??...Thanks and hello all
- #787
- Oct 27, 2018 2:27pm Oct 27, 2018 2:27pm
- Joined Jun 2015 | Status: Trader | 14,961 Posts
{quote} Well usually the levels can be respected but sometimes its fustrating when they are not. Like this trade i took for EURUSD 2 weeks ago. The price was... Can anyone tell me what if I did wrong here or where I missed out some important analysis or news ?. Could I have prevented these situation, or its one of those irrational forex situations??...Thanks and hello all...
Second. Do you see the doji very next days? That's good sign trend (say short term) is changing. So you exit trade at zero loss, reverse. 
Third. The A letter is Monday 8th. It's holiday in US. Ofcourse they will fake and spike you. Good business Beware!!Forth. On 16th there was few bad news, ZEW springs to mind. Bad for euro. Dump!!!See, simple logic. But you need to move away from (i guess hourly chart??) and think daily. Good luck!!
Beware of robber banks (RB), bad advisors.
{quote} Well usually the levels can be respected but sometimes its fustrating when they are not. Like this trade i took for EURUSD 2 weeks ago. The price was showing strong bearish signals. I made a Sell trade where I marked "A" [check chart below], thinking that the price has past through major support significantly [yellow line], expecting a breakdown, only for the price to move up a bit and taking out my stop. loss. Then price looked like it was beggining a bullish leg, only to suddenly go back down. If someone had taken a Buy trade, where I...
I see from your words that you're frustrated that the trade didn't work... emotion is the #1 enemy in trading
. Yes, sometimes, we all get loss, it's unavoidable... If you ask my view on this case, I would say the following: since I am a swing trader I trade swings in any markets. First, I identify weekly and daily trend direction. Secondly, I try to look for swings based on the weekly and daily trend. And the third, look at PA bar (what signal it gives)... I want to say that, I think, any trader should have a clear-written, algorithmic trading strategy or method that gives him to get profits in the market. And you must stick to it and believe in it...Do you have one? Have you tested your method in different market conditions? Have your all trading method criteria met when you took that trade?...
Sorry, if I am too wordy. I hope it gives some answer to your question...
profitable trades,
richadi36
profitable trading does not mean trading everyday
{quote} Well usually the levels can be respected but sometimes its fustrating when they are not. Like this trade i took for EURUSD 2 weeks ago. The price was showing strong bearish signals. I made a Sell trade where I marked "A" [check chart below], thinking that the price has past through major support significantly [yellow line], expecting a breakdown, only for the price to move up a bit and taking out my stop. loss. Then price looked like it was beggining a bullish leg, only to suddenly go back down. If someone had taken a Buy trade, where I...
profitable trading does not mean trading everyday
