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  • #69,681
  • Dec 21, 2018 9:59am Dec 21, 2018 9:59am
Quoting Pleiadian
Price is following my Butterfly Harmonic Pattern beautifully. Timed my entry perfectly. Looking good! Ignore the diagonal lines, forecasts on a higher time frame {image}
I’m new to harmonics. If this was a butterfly wouldn’t your sell limit be at 1.1530 area?
ex nihilo
  • #69,682
  • Dec 21, 2018 10:01am Dec 21, 2018 10:01am
H1 Status Update

My final chart for the day an week (probably ), and we now have 1.1419 as potential dashed BLUE 1st touch level. As long as no H1 close above that, we keep selling swing highs or new BLUE TL breakouts (getting final confirmation from M5 would be wise).

Stay Green
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Focus only on what truly matters!
  • #69,683
  • Dec 21, 2018 10:02am Dec 21, 2018 10:02am
Quoting newbegger
{quote} Ok, already moved entries to 1.1470 area, looks like 1.1440 will happen before London close and my play is to catch the FOMC spike up, not already holding shorts in the red when FOMC hits. I will watch during speech if I get hits to determine if I will hold or fold.
This was the lone entry, .01 lot so not much in the profit, 70 pips. To be honest, I forgot about the order and so was not adding on way down to make bank.

Now flat for the holidays. Be careful, especially those who are just starting out. There are usually hard runs by smaller players as the movers are on holiday and smaller trading firms can move the markets, sometimes violently. Now is not the time to try to hit the jackpot. Trade small or go home.

Happy Holidays - see you next year
Ecclesiastes 1:9
  • #69,684
  • Dec 21, 2018 10:03am Dec 21, 2018 10:03am
Quoting 5astelija
M5 hidden divergence, the bears don't seem to have very strong hand here. In fact, I'm calling their bluff! {image}
Very good observation of divergence but in my view it is not valid until cross of 5&10EMA+Cross of MACD 24,52,9
  • #69,685
  • Dec 21, 2018 10:12am Dec 21, 2018 10:12am
Quoting 5astelija
{quote} Nice, and good luck for your studies! I have studied a combo of economics, business administration and finance in uni for 3 years now, 2 more to go. I have to say, forex and technical analysis is by no means any major part of the studies. I have read one (1) page about technical analysis. It doesn't seem the academic world of economics/finance is very interested in this, what we do here
Thanks man! you goodluck too! Sometimes a bit sad that they do not spend so much time on forex, but i just love every aspect of economics so can't wait for next year
  • #69,686
  • Dec 21, 2018 10:16am Dec 21, 2018 10:16am
Quoting Ftj
{quote} Thanks man! you goodluck too! Sometimes a bit sad that they do not spend so much time on forex, but i just love every aspect of economics so can't wait for next year
Totally agree, it is an interesting package, cant recommend enough Complementing the economics studies with math and statistics is also nice, as the finance today is going towards statistic approaches.
Pension fund Return This Month: 2.2%
  • #69,687
  • Dec 21, 2018 10:20am Dec 21, 2018 10:20am
will buy again on retracement
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trying to make everyday the best risk/reward decisions possible
  • #69,688
  • Dec 21, 2018 10:22am Dec 21, 2018 10:22am
5m
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yes yes yes
  • #69,689
  • Dec 21, 2018 10:25am Dec 21, 2018 10:25am
Quoting Mitiblotch
Those 4hr candles are powerful. This is heading down big time I think. Congrats to those who held their nerve and kept their sell trades.
HI Mitiblotch

yep, the swing is almost end to down. but id prefer to watch to 1.133xx
it pass 1.133xx big down it is
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  • #69,690
  • Dec 21, 2018 10:26am Dec 21, 2018 10:26am
One more touch of 1.1448 and its done.
  • #69,691
  • Dec 21, 2018 10:32am Dec 21, 2018 10:32am
Quoting Oc6oph
{quote} I’m new to harmonics. If this was a butterfly wouldn’t your sell limit be at 1.1530 area?
It all depends on how you measure risk, what your risk tolerance is, and your account size / position sizing. Look at my profile and I recommend a book worth reading more than once. Most importantly stick with a system that works for you and your personality. Are you a day trader, swing trader, scalper ?
Don't wait for the wind, take to the oars.
  • #69,692
  • Dec 21, 2018 10:37am Dec 21, 2018 10:37am
I know I said I was done. This is the one more trade for now and I am done for now for sure .
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  • #69,693
  • Dec 21, 2018 10:51am Dec 21, 2018 10:51am
Quoting Pleiadian
{quote} It all depends on how you measure risk, what your risk tolerance is, and your account size / position sizing. Look at my profile and I recommend a book worth reading more than once. Most importantly stick with a system that works for you and your personality. Are you a day trader, swing trader, scalper ?
i think you’d sell at the 127fib this came to the 100 so this is not a butterfly. I Day swing trade. I look for fractals in ranges under 20 pips and trade the break of the fractal breakout and I’m trying a few other things.
ex nihilo
  • #69,694
  • Dec 21, 2018 11:20am Dec 21, 2018 11:20am
Quoting Mitiblotch
{quote} Good observation. However, if the buyers of Euro are selling it off in exchange for Dollars for the holiday then be prepared for a deep, deeper dive even today. It may be surprising. That divergence may be for some little rise to fill in more sells and then the dump.
Your thinking again ,,lol,, applying rational thought to something that acts irrational to ones normal thinking can limit gains ,,think of it as whats rational for the mkts a lot of of times is irrational to our normal thought process may close the week out somewhere around here but if it closes in here its still been a positive week ,,its done 92 today after the big pop above the the ole H4 200 and above a whole gaggle of battles fought ,,being above the fray area means what ? Bears may have to set a bigger offensive line higher ,,any rate ,, it gets knkie s roo tail filled in on the hourly then it may be about it for the day,,, on too next week ,,cheers bud ,, hope all have done well .
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  • #69,695
  • Dec 21, 2018 11:20am Dec 21, 2018 11:20am
Quoting Techanalyst
I know I said I was done. This is the one more trade for now and I am done for now for sure . {image}
It's good to make money bro and you are making it. Good on you. I wish to see that 1.136x area. I finally got in five short positions and just booked profit on three and leaving two to run with stop at BE.
  • #69,696
  • Dec 21, 2018 11:28am Dec 21, 2018 11:28am
1430-40 probably will be revisited. potential level to sell.
As Above, So Below
  • #69,697
  • Dec 21, 2018 11:29am Dec 21, 2018 11:29am
Brace for a Dollar index spike. It has been trying very hard for half a day now.
  • #69,698
  • Dec 21, 2018 11:37am Dec 21, 2018 11:37am
Quoting Lcky
{quote} if there be a pull back to 14393 or may be now???
Lcky if your still around ,,,, If you still have your M5 up Lcky ,, many times london sets the direction for the day ,,a short day is a short day till eod ,, or vise versa ,,even the hot read would have kept you safe ,, may be a an afternoon delight trade yet but the usa not real interested on a Friday going into a holiday week ,,I mentioned I was watching 1360 ish many hours ago ,, but if any bull follow thru it should be starting to show up ,,but until it does ,, today was a short day ,,do what london does
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  • #69,699
  • Dec 21, 2018 11:42am Dec 21, 2018 11:42am
Market maker did a very good job in trapping buyer in the 1.147XX area.
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  • #69,700
  • Dec 21, 2018 11:46am Dec 21, 2018 11:46am
Quoting bokie
Market maker did a very good job in trapping buyer in the 1.47XX area. {image}
One can only be trapped if allowing themselves to be trapped ,, buying to hold just slightly above several weekly highs well one may be deserving of being trapped or should keep better track of levels,,,mkt makers just know that dont blame them,,they didnt push any bodys buy button up there,,but they did provide a platform so ones that know better could make a few shekels
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