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Trading EURUSD only 43,756 replies

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  • #76,941
  • Feb 6, 2019 10:39am Feb 6, 2019 10:39am
Quoting kayikayi
{quote} {quote} Miti, I never blame the market, its makers or anything under the sun but me. If something goes wrong with my trade....well it is automatic in my head: I missed a clue, something and possibly everything . I -nobody else, no crocks nor crooks lol lol,nor my broker, nor stop hunters- am responsible. I own up to my mistakes and my ignorance and do what you did Miti.....hit the books, the internet or the charts until I figure it out. then of course I stumble on something else...
True, very true. Without the 'crocks' we won't be able to trade. So, ride their coattails and make the money. That day you gave me that assessment, it may have seemed little, but no truer word was ever said. It drove me to work. Thank you.
  • #76,942
  • Feb 6, 2019 10:42am Feb 6, 2019 10:42am
Dollar's in an interesting spot at the moment.

Keeping an eye on this.
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  • #76,943
  • Edited 11:30am Feb 6, 2019 11:12am | Edited 11:30am
Quoting Wavegarrick
{quote} Just thinking what makes you think that price is going to reverse there?. Just too many top and bottom wannabe catchers. Crumbs it is driving me nuts. Does anyone ever think about higher highs and lows before an entry long for example. Choosing an area for an entry is just too risky in my opinion. What about price action around the chosen levels? Anyway forgive me if I am out of turn. But I see many wrong calls and no recourse or explanations for decisions taken. Cheers..
Quoting Ata-Turkoglu
{quote} Since my "Previous Day's London Open" to "Today's London Open" trendline theory is still cooking and nothing for 100% sure, I still could bring in this idea that the current LO-LO line on H1 chart is acting as support. So, as long as that line is supportive we might have a bounce. That's my simplest clue for now. Stay Green
Because we are at structure support, maximum channel range (maybe little further when drawing channel from the lower wick) + I drew fibs and now I have added the golden ratio to my case..

and

LO-LO theory:

When London opens, draw a trendline from the previous london open to the current london open.
When london fails to break the trendline in the first hours of the open, this is a first sign of a or turning or consolidating market.
First sign so no guarantees it will turn.

Trading long today was however agressive, and as you stated, there are no HH's or HL's.
A more conservative / defensive approach would be to wait for at least an M15 to print them. And i consider myself as a more conservative trader...

But this would mean that in some cases (high momentum moves) you won't get a good entry on a conservative approach, and losing pips doing so.
Aggressive trading however means higher chance of, what we are experiencing now, being in drawdown.

That's why I like Ata's testing waters approach (half a lot size) on an aggressive trade, and add half a lot size after more confirmation.

Either way, we knew the risk and the stop loss is in place.

Grtz
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What's that smell? ---- I smell money!
  • #76,944
  • Feb 6, 2019 11:32am Feb 6, 2019 11:32am
Quoting Wavegarrick
{quote} Hi Guys all buy trades were closed. Down cycle confirmed. I am quite suspicious about this down move as we are back into my major support zone. Possible target 1.12500 area. Currently locked in at 96 pips profit. Touch and go, will see what happens especially going into thursday where reversals could occur. Trade safe Cheers {image}
I like your approach. For my benefit, what specifically gave you confirmation of the break into a downtrend. Was it the break of the 1.1425-35 area or do you use other indicators?
It takes time
  • #76,945
  • Feb 6, 2019 11:34am Feb 6, 2019 11:34am
where eur/usd investors dissapired??
long time dont see such a low volatily last days
  • #76,946
  • Feb 6, 2019 11:35am Feb 6, 2019 11:35am
the downtrend began at London open on the 31st of January. I'd expect it to bottom out the middle of next week. probably won't go down by much more than 80 pips from now. Within that range there's plenty of opportunity for 5-7 pip meanders up and down. But the way the market is now, I think its unrealistic to expect big volatility in this pair.

however, tonight the fed chair powell is speaking... it may whipsaw up and down by 20 or 25 pips as a result in Sydney/Tokyo trading times.
  • #76,947
  • Feb 6, 2019 11:39am Feb 6, 2019 11:39am
How I work with fractals:

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Don't believe me just watch!
  • #76,948
  • Feb 6, 2019 12:07pm Feb 6, 2019 12:07pm
Looks like a reversal tomorrow would make sense
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Pension fund Return This Month: 2.2%
  • #76,949
  • Feb 6, 2019 12:19pm Feb 6, 2019 12:19pm
Quoting Expo33
{quote} Short @1392 on structure break. Risk 3 pips for 30 At the moment the base level of our triangle is being tested. {image}
Finally got our close below the triangle base, a retest, and now accelerating as it leaves the circle. Booked a bunch more pips, selling Euro made for an easy week. Leave a little runner for 1333 but majority position will be closed.

A look at the 1H, bottom of circle basically achieved.
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Pride always comes before destruction.... -Proverbs 16:18
  • #76,950
  • Feb 6, 2019 12:20pm Feb 6, 2019 12:20pm
Scalped a small long 1.13674, SL 6 pips or before rollover (don't wanna pay triple swap)
You hesitate, you masturbate.
  • #76,951
  • Feb 6, 2019 12:31pm Feb 6, 2019 12:31pm
Quoting stevanuss
still short, take my time {image}
I'm at worked, this is what I got only 10:31 AM PST
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  • #76,952
  • Edited 1:04pm Feb 6, 2019 12:33pm | Edited 1:04pm
Quoting galactico
{quote} I like your approach. For my benefit, what specifically gave you confirmation of the break into a downtrend. Was it the break of the 1.1425-35 area or do you use other indicators?
Hi Galactico,

Thanks for showing interest in my method of trading. I mainly trade pivots. As you can see from the screenshot, I had a bounce from my weekly pivot resistance 1. For my first trade I waited for 2 days for my daily pivot to move down (see red highlighted box) and also to show a lower high and lower low on the daily timeframe. I will only get into a buy reversal trade if my daily pivot starts moving up from either weekly support 2 or monthly support 1. I don't blindly get into a trade. All in a nutshell and unfortunately will not disclose my other indicators to you here as it is proprietory to a forum I belong to. I will disclose further info to you via pm if you wish, to put you on the right track. Patience is of utmost importance in my method of trading.

My trades currently 160 pips and growing.

Take care.
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Trade to trade another day
  • #76,953
  • Edited 1:06pm Feb 6, 2019 12:33pm | Edited 1:06pm
Quoting engweijie
Scalped a small long 1.13674, SL 6 pips or before rollover (don't wanna pay triple swap)
welcome back Eng...happy the new mistress (Ms Poker) is allowing you some time to scalp! lol lol

5min green line has been generous today with sells.
  • #76,954
  • Feb 6, 2019 12:35pm Feb 6, 2019 12:35pm
Quoting Expo33
{quote} Finally got our close below the triangle base, a retest, and now accelerating as it leaves the circle. Booked a bunch more pips, selling Euro made for an easy week. Leave a little runner for 1333 but majority position will be closed. A look at the 1H, bottom of circle basically achieved. {image}
can you guide me more about this method please, I need it's name to google for it?
  • #76,955
  • Feb 6, 2019 12:37pm Feb 6, 2019 12:37pm
long at 1.13666
Sl :1.1320
tp: 1.1450
  • #76,956
  • Feb 6, 2019 12:41pm Feb 6, 2019 12:41pm
EU wil stop around 1.1350, you can also track when UC will bounce from around 1.0038, that's where is good short and long for EU for today at least.
Any further down/up for both respectively will mean a boost to the bearish/bullish resp.
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #76,957
  • Feb 6, 2019 12:43pm Feb 6, 2019 12:43pm
Quoting kayikayi
{quote} welcome back Eng...happy the new mistress is allowing some time to scalp! lol lol 5min green line has been generous today with sells.
Yeah I sold 1.1402 this morning. TP'd at Jaybag's 1.1375 and well I'm half sober having steamboat now so I hope my meal pays for itself LOL

Though realistically I think if there's a move up it might probably take longer than today to play out lol. Maybe I can kop 10 pips here, see price revisit 1.1365 again tomorrow and take long again. Let's see how it goes.
You hesitate, you masturbate.
  • #76,958
  • Feb 6, 2019 12:44pm Feb 6, 2019 12:44pm
The price has reached the blue box area 1.1366. I am done for now. Trade safe. Smart money always works. The positions shows that there were more buyers 60.12%. You follow what market makers are doing, they are knocking out those prices, sell is the better option at least that is my opinion and it works for me.
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  • #76,959
  • Feb 6, 2019 1:11pm Feb 6, 2019 1:11pm
Quoting Techanalyst
The price has reached the blue box area 1.1366. I am done for now. Trade safe. Smart money always works. The positions shows that there were more buyers 60.12%. You follow what market makers are doing, they are knocking out those prices, sell is the better option at least that is my opinion and it works for me. {image} {image}
Agree
  • #76,960
  • Feb 6, 2019 1:14pm Feb 6, 2019 1:14pm
Still no signals for me on the range trade (long) but I am now getting signal for trend trade (short).

Ready to trade either way. Have sell orders in, little below 1.1400. No buy orders yet as prices keeps trending down.

Waiting
Ecclesiastes 1:9
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