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EURUSD only

  • #74,661
  • Jan 23, 2019 10:43am Jan 23, 2019 10:43am
support is hold!

we go up

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velolthomas@gmail
  • #74,662
  • Jan 23, 2019 10:51am Jan 23, 2019 10:51am
Quoting Odysseus100
{quote} Hi Mitiblotch, Could you share where you get that graph from please?
Please check your wall. Your messaging option is disabled so sent it as a "shout"
  • #74,663
  • Jan 23, 2019 10:54am Jan 23, 2019 10:54am
Quoting Mitiblotch
{quote} Isn't it scary? Well, I have determined not to be caught in a buy with Draghi tomorrow. If it turns out to be a good buy then we'd get in. Right now I'm looking for some good short entry. {image}
Hi, are these overall or only retail ? Because if it's the later, then it's still a very small amount of the overall market !
Simplicity is the Ultimate Sophistication.
  • #74,664
  • Jan 23, 2019 10:57am Jan 23, 2019 10:57am
Quoting Techanalyst
Slowly going up. {image}
Also MN TF slowly slowly ))
  • #74,665
  • Jan 23, 2019 10:57am Jan 23, 2019 10:57am
Quoting broketrader
{quote} Hi, are these overall or only retail ? Because if it's the later, then it's still a very small amount of the overall market !
Retail, of course. You know that retail sentiment is a good guage of what many other types of traders are doing. This is only used as an extra tool in making trading decisions.
  • #74,666
  • Jan 23, 2019 11:00am Jan 23, 2019 11:00am
AT LAST!!!

Testing the Resistance!! Closing all longs at 1.1390 I will reenter in the pullback!!!!
Don't believe me just watch!
  • #74,667
  • Jan 23, 2019 11:06am Jan 23, 2019 11:06am
Still on my 1.1415 view for today
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #74,668
  • Jan 23, 2019 11:12am Jan 23, 2019 11:12am
Quoting Mitiblotch
{quote} Retail, of course. You know that retail sentiment is a good guage of what many other types of traders are doing. This is only used as an extra tool in making trading decisions.
Hmm, be careful with those stats, knowing that retail is only 4% of total Forex volume(1) then those numbers don't have very much weight !

(1) Retail volume (Other) in the graph below according to BIS (Bank for International Settlements).

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If you want the full (and interesting) PDF report, it's here.

Edit: It's even 4% of 51% which makes a total of 2.04% !!!
Simplicity is the Ultimate Sophistication.
  • #74,669
  • Jan 23, 2019 11:19am Jan 23, 2019 11:19am
This was the situtation on monday, green lines mean buy..
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This is the situation today...
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Somehow I managed to give back a lot of profit by closing early yesterday. Closed the day in profit however..
Today first trade was ok but only took 11pips on half a lot.
After that managed to give back todays profit by not executing my initial plan.. that is to long on these levels only...

Sigh.. at least my plans are good as long as I stick to them!

On to the next...
What's that smell? ---- I smell money!
  • #74,670
  • Jan 23, 2019 11:21am Jan 23, 2019 11:21am
Quoting broketrader
{quote} Hmm, be careful with those stats, knowing that retail is only 4% of total Forex volume(1) then those numbers don't have very much weight ! (1) Retail volume (Other) in the graph below according to BIS (Bank for International Settlements). {image} If you want the full (and interesting) PDF report, it's here. Edit: It's even 4% of 51% which makes a total of 2.04% !!!
and as a knowledgeable, the majority of traders trade in the wrong direction.
so statistics can't be considered.
  • #74,671
  • Jan 23, 2019 11:26am Jan 23, 2019 11:26am
Quoting mrdfx
I don't do much analysis on EU, but recent price action has caught my attention. Looking at things on D1 & H4, we can see an overall long term bullish trend, but in the short term I see EU dropping further towards the 1335 level and then I expect a bounce off the lower trend line upwards in the coming days. {image} {image}
Quoting mrdfx
{quote} The 1335 level has been reached, hitting the lower trend line like I said on Sunday. If this level holds till the close of the current H1 candle I will look for buying opportunities.
Sunday nights analysis is finally playing out nicely.

Patience is key in this game.
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Truth is like poetry. And most people f*cking hate poetry.
  • #74,672
  • Jan 23, 2019 11:34am Jan 23, 2019 11:34am
Quoting broketrader
{quote} Hmm, be careful with those stats, knowing that retail is only 4% of total Forex volume(1) then those numbers don't have very much weight ! (1) Retail volume (Other) in the graph below according to BIS (Bank for International Settlements). {image} If you want the full (and interesting) PDF report, it's here. Edit: It's even 4% of 51% which makes a total of 2.04% !!!
Thanks a lot for the additional information.

What I posted up there isn't what gives me my trade entries. It's just good to have a guage of what the herd is thinking. The herd is not only retail traders. That sentiment up there actually applies in a general note to what people refer to as "dumb money". Proper tech analysis coupled with sentiment analysis does wonders.

Simple way: If the herd is long I'd prefer selling rugged resistance instead of buying supports and vice versa.
  • #74,673
  • Jan 23, 2019 11:37am Jan 23, 2019 11:37am
Quoting tiborf71
{quote} and as a knowledgeable, the majority of traders trade in the wrong direction. so statistics can't be considered.
Years ago I got some goods reliable stats from a company. That said traders wins 60% of the time. The problem is that the amont of trades loses is bigger.
Don't believe me just watch!
  • #74,674
  • Jan 23, 2019 11:44am Jan 23, 2019 11:44am
Quoting broketrader
{quote} Hmm, be careful with those stats, knowing that retail is only 4% of total Forex volume(1) then those numbers don't have very much weight ! (1) Retail volume (Other) in the graph below according to BIS (Bank for International Settlements). {image} If you want the full (and interesting) PDF report, it's here. Edit: It's even 4% of 51% which makes a total of 2.04% !!!

I agree... even with CoT data. Although futures data offer a proxy for volume but represent only a small fraction of the currency market.

Attached Image
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #74,675
  • Jan 23, 2019 11:53am Jan 23, 2019 11:53am
Quoting SteFX85
This was the situtation on monday, green lines mean buy.. {image} This is the situation today... {image} Somehow I managed to give back a lot of profit by closing early yesterday. Closed the day in profit however.. Today first trade was ok but only took 11pips on half a lot. After that managed to give back todays profit by not executing my initial plan.. that is to long on these levels only... Sigh.. at least my plans are good as long as I stick to them! On to the next...
we all have our days man ,, sometimes the best laid plans go by the wayside due to too much thinking ,,, lol,, mkt aint going nowhere and it is a big ole merry go round ,, just catch the next ride
  • #74,676
  • Jan 23, 2019 11:53am Jan 23, 2019 11:53am
I will start building shorts in anticipation of Draghi tomorrow.
  • #74,677
  • Jan 23, 2019 11:56am Jan 23, 2019 11:56am
Quoting Mitiblotch
I will start building shorts in anticipation of Draghi tomorrow.
I just shorted 1.1391
SL 5 pips
target 1.1379
in wondering about yourself, you forgot what you came here to be part of
  • #74,678
  • Edited 12:16pm Jan 23, 2019 12:01pm | Edited 12:16pm
Quoting digger1
{quote} we all have our days man ,, sometimes the best laid plans go by the wayside due to too much thinking ,,, lol,, mkt aint going nowhere and it is a big ole merry go round ,, just catch the next ride
True Digs,

But I try to always make time to reflect on what I could have done better.
It's the overthinking on M15 chart, that made me forget about my initial plan...

Anyways, not like I made a huge loss or something but left money on the table.

Learn from it and move on.

Grtz

Update

Next plan is to keep buying dips at least until 1.147x, or until there is weakness showing!
And I'll be sticking to it
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What's that smell? ---- I smell money!
  • #74,679
  • Jan 23, 2019 12:02pm Jan 23, 2019 12:02pm
Quoting knkie
{quote} I just shorted 1.1391 SL 5 pips target 1.1379
I did the same. No reason not to squeeze some pips out of this before ECB tomorrow. Right after I closed shorts, it went up 30 pips. I'll sell back in when trade wants to give me better position in range bound trade
Ecclesiastes 1:9
  • #74,680
  • Jan 23, 2019 12:03pm Jan 23, 2019 12:03pm
Attached Image (click to enlarge)
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Patterns have an underlying mathematical structure.
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