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  • #1,145,661
  • Nov 15, 2018 5:02am Nov 15, 2018 5:02am
wow GBPUSD fall down more than 230 pips and euro only 70 pips haha niceeee !

GBPUSD reached my target at 1.2750 that I mentioned on cable topic. I expect GBPUSD to keep flying all the way to 1.3500 which will take our euro up also

so I will assume what happened today is the shakeout of the market to make the weak buyers get scared and leave
  • #1,145,662
  • Nov 15, 2018 5:04am Nov 15, 2018 5:04am
Quoting Fredrick7
{quote} Hi JKlee. I don`t know how many traders use it. Ata somehow found out that it is a significant moving average in that it has a kind of pivotal function. Yes, short seems safer, but we never know what news is going to hit the wires. I prefer to trade what I see and so far the 54 LWMA on 1h has acted as a support for the eur. I need a close below it on 1h for another short.
Agreed. You will see more support and resistance at 100 sma, 200 sma on H1 and H4. Good Trading!
FOR THE HORDE
  • #1,145,663
  • Nov 15, 2018 5:04am Nov 15, 2018 5:04am
Quoting TudorIoan
{quote} Interesting. But I suppose a close below the 50 sma and the 54 LWMA acting as support is just a small part of the sys. As I am seeing it, I comes hard for me to trust systems who work until it doesn't... I mean everybody has something like that ...but no so good promotion for it, like Ata
Moving averages are a small but often decisive part of it.

No system or set of indicators works all the time. There is no holy grail of trading. We can only go by what we consider probable at a certain point in time.

My advice: don`t completely trust any one system or set of indicators. Always expect the unexpected. What we see is always the past. We try to predict the future from it. Risky business, but that is why it can be very lucrative. Most traders get it wrong, which means the few who get it right can earn a lot.

Trading is about taking money from other people. You should always remember that.
  • #1,145,664
  • Nov 15, 2018 5:11am Nov 15, 2018 5:11am
Quoting TudorIoan
{quote} 1270. Sharp shooting there!
wait..wait.... 1.1270, 1.1296 and 1.1287 is just my observation.... From there we can calculate the rest of the waves.... Hope the magic is working
anyway...I started my trade at 1.1285... not bad if it works. I need a now...
You can manage risk, but you can't manage the return
  • #1,145,665
  • Nov 15, 2018 5:13am Nov 15, 2018 5:13am
GBPUSD will fly 700pips to 1.3500 and will take euro with it up

so 700pips in euro equal to 1.2000 which is exactly my target

sometimes I really admire how they control the market and make it so perfect. they made the pound drop so when euro and pound rally together they will be synced in supports and resistance. piece of art market
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  • #1,145,666
  • Nov 15, 2018 5:15am Nov 15, 2018 5:15am
It looks like we can define the fkn Brexit playground for today on chart, guys!
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Member
  • #1,145,667
  • Nov 15, 2018 5:23am Nov 15, 2018 5:23am
Quoting Fredrick7
{quote} Moving averages are a small but often decisive part of it. No system or set of indicators works all the time. There is no holy grail of trading. We can only go by what we consider probable at a certain point in time. My advice: don`t completely trust any one system or set of indicators. Always expect the unexpected. What we see is always the past. We try to predict the future from it. Risky business, but that is why it can be very lucrative. Most traders get it wrong, which means the few who get it right can earn a lot. Trading is about...
"Don't trust indicators. Always expect the unexpected. What we see is always the past. We try to predict the future from it. Risky business, but that is why it can be very lucrative."
OMG! I see flagrant contradictions there ...but who am I to give lessons?!

"Trading is about taking money from other people"
Well, this is an old saying on Wall Street and it applies only to equities, not to FX
Forex market is much different from the stock market! You always have to remember that
Member
  • #1,145,668
  • Nov 15, 2018 5:47am Nov 15, 2018 5:47am
Quoting Fredrick7
{quote} .......................... No system or set of indicators works all the time. ........................ My advice: don`t completely trust any one system or set of indicators. Always expect the unexpected. What we see is always the past.
I kind of disagree the statements above.

A system based on price action works all the time and performs consistently over the time simply because the price action is the only real-time feedback you get from the market.

And yes you can trust indicators based on price action and candlestick patterns. That is pretty much the only thing that works well against "the unexpected".

Just MO
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #1,145,669
  • Nov 15, 2018 5:50am Nov 15, 2018 5:50am
Quoting TudorIoan
{quote} "Don't trust indicators. Always expect the unexpected. What we see is always the past. We try to predict the future from it. Risky business, but that is why it can be very lucrative." OMG! I see flagrant contradictions there ...but who am I to give lessons?! "Trading is about taking money from other people" Well, this is an old saying on Wall Street and it applies only to equities, not to FX Forex market is much different from the stock market! You always have to remember that
I used to day trade equities in the form of cfds. Moves in the fx markets tend to be more consistent but experience has taught me that basically itīs all the same game.
  • #1,145,670
  • Nov 15, 2018 5:59am Nov 15, 2018 5:59am
Quoting Fredrick7
{quote} No system or set of indicators works all the time. There is no holy grail of trading. We can only go by what we consider probable at a certain point in time.
I agree there is no perfect system it can work for few months and market change behavior and then you need to adjust the system again to the new behavior
  • #1,145,671
  • Nov 15, 2018 6:09am Nov 15, 2018 6:09am
We must also remember that we are not actually trading currencies, only a leveraged derivative which we see on our screens - same as cfds. Millions of transactions in currencies take place every day without us even noticing it. That is why we can only see our brokerīs tick volume.

Tudorian, please explain in what way the fx market is different from the equities market.
  • #1,145,672
  • Nov 15, 2018 6:19am Nov 15, 2018 6:19am
Yes, the fx market as we know it is more complex and has higher volumes - second highest after the bond market. But in principle the same thing happens. Money is put on and taken off the table.

Moreover, currencies can and do crash. best example: Reichsmark, especially during the Weimar Republic. People had to start paying in kind. The currency was worthless.
  • #1,145,673
  • Nov 15, 2018 6:23am Nov 15, 2018 6:23am
Quoting Fredrick7
Yes, the fx market as we know it is more complex and has higher volumes - second highest after the bond market. But in principle the same thing happens. Money is put on and taken off the table. Moreover, currencies can and do crash. best example: Reichsmark, especially during the Weimar Republic. People had to start paying in kind. The currency was worthless.
Yes, you're pretty much right.
A FX pair comprises much more like the global balance of economical trading, not ONLY speculators, players, traders money
It's also mondial commerce involved there, is not only a global betting house, a zero sum game!!!
Member
  • #1,145,674
  • Nov 15, 2018 6:26am Nov 15, 2018 6:26am
No crush in real, just a spike to 1269 ok even a little down to 1262 be better to go try up again in comfort. So they may retest again. Waiting to have any clear setup.
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,145,675
  • Nov 15, 2018 6:49am Nov 15, 2018 6:49am
Quoting msniper
{quote} I agree there is no perfect system it can work for few months and market change behavior and then you need to adjust the system again to the new behavior
"...it can work for few months and market change behavior and then you need to adjust the system again to the new behavior"
I like that. It sounds like a paralell simple definiton of the Moving Average
In short: it works for a while, then it changes
Member
  • #1,145,676
  • Nov 15, 2018 7:20am Nov 15, 2018 7:20am
if eurusd close 4h candle below 1.1280 it means euro will decide to make a new low lower than 1.1200 but will be very quick spike down before heading back above 1.1300 again
  • #1,145,677
  • Nov 15, 2018 7:32am Nov 15, 2018 7:32am
Quoting msniper
if eurusd close 4h candle below 1.1280 it means euro will decide to make a new low lower than 1.1200 but will be very quick spike down before heading back above 1.1300 again
may be but as to leg up apparently ended & bo below tl so likely play to down again , 1269 not enough , 1262 or little low to will look for thrust can start again. anyway sad to see the good signal/confirmation 1359 still intact .
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,145,678
  • Nov 15, 2018 7:32am Nov 15, 2018 7:32am
Fasten you seatbells.

News coming out
  • #1,145,679
  • Nov 15, 2018 7:34am Nov 15, 2018 7:34am
very strange market...
  • #1,145,680
  • Nov 15, 2018 7:34am Nov 15, 2018 7:34am
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Patterns have an underlying mathematical structure.
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