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Entry Unholy

  • #2,861
  • Feb 15, 2019 7:36am Feb 15, 2019 7:36am
Quoting seemoore
I've been following this thread for a little while and have learned a lot from all of you. Thanks! I am a bit surprised no one pointed out that EU is at the weekly S1 already---it looks to be holding on the intraday charts for the first test, but I'll keep my eye on it. I would expect to get a harder flush down before any significant retrace, and my daily ABCD target looks to be about 1.1234 with the obvious last support 20 below that. Maybe tomorrow?
Yep. Argh. So, I had 1.1234 as the target, did make some good trades this week, but was too chicken to get in on today's short on EU. That's how they do it, those markets, hit the targets when it's not looking so strong. Probably took the strength off the stops of the longs.

OTOH, GU so far is holding the 1.2790ish support, worth watching on a dollar reversal, may sky up a bit.

Following Digz example--opening GU was 2801 and yesterday's mid at about 2826. I'm not a believer until it clears 2826, fyi, but then again, I'm just trying to keep my inventory intact.
defense wins championships
  • #2,862
  • Feb 15, 2019 7:39am Feb 15, 2019 7:39am
Quoting Jp1
{quote} Morning mate - hows it going?
i am good jp1 what about you,,,,
MRMALIK1
  • #2,863
  • Feb 15, 2019 7:41am Feb 15, 2019 7:41am
Thanks ZenNy, fully aware of and totally agree with everything you said... still, monkey brain gets the better of me from time to time.

Relating to the plan, had I followed it and allowed my stop to be hit where it was, all would have been well, but I did not accept responsibility for the trade, thought I knew better, moved my stops and it came back to bite me. Not the first time for sure, but hopefully the last. I have a thick cranium, sometimes it takes a few whacks to get the message through lol....

QOTD "For traders, risking taking is your business. Your risk taking "muscle" needs to be worked out, stretched, developed. Just like any other muscle. Can't be a pro athlete if you're lazy, weak, & out of shape." --@volfixer
  • #2,864
  • Feb 15, 2019 8:03am Feb 15, 2019 8:03am
Quoting Rrrracer
Thanks ZenNy, fully aware of and totally agree with everything you said... still, monkey brain gets the better of me from time to time. Relating to the plan, had I followed it and allowed my stop to be hit where it was, all would have been well, but I did not accept responsibility for the trade, thought I knew better, moved my stops and it came back to bite me. Not the first time for sure, but hopefully the last. I have a thick cranium, sometimes it takes a few whacks to get the message through lol.... QOTD "For traders, risking taking is your business....
The first step forward is to recognise you are doing wrong....then you need to work toward adjusting your mental pattern to be fluid with the market.....convictions and concepts are the worst enemies for traders.... great traders are not born they make themselves.........

When our minds pulls us away from ourselves we need to have the courage to "stay" with that emotion instead of following our minds here and there (move the stop, this stupid trade, I should never listen to that wanker and so on and on....) the minds wants to find a justification because she cannot deal with pain......

Lets say you feel frustration because the trade goes against you, the mind cannot deal with that pain and pulls you nowhere for you do the wrong thing.....what you should do instead is to to learn to feel the pain at the physical level when emotion arises (and not only in trading), when you do the mind will lose the power over you, she will still make her noises but she will only sound like an old radio in the background and not effect your decision making........with time and practice you will understand more about yourself and your mental patterns and you will reach a point of acceptance which is the most powerful tool of transformation.....
trading is simple but is simple is not easy.
  • #2,865
  • Edited 2:11pm Feb 15, 2019 8:19am | Edited 2:11pm
Quoting ZenNy
Good trading {image}
Before LO I draw my level and I had a plan....I do not chase prices around......my drawing could be wrong because TA is an art form not an exact science, it is a personal perception based on our own experience and trial......

I think the line 1 and 2 worked nicely today....price broke and were rejected at 1......I think many went long there about but for me line 2 is more important than line 1.....my plan was to look for a BOPullBack at 2...... This time it worked fine, many times it does not but that is ok with me......

My risk was 12 pips...I had 4 exits with this trade...and I averaged 33 pips, 2.75 my risk......have a great WE.

Where is D?He has been missed.
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trading is simple but is simple is not easy.
  • #2,866
  • Feb 15, 2019 8:25am Feb 15, 2019 8:25am
DXY also closed that gap from 12/17 - 12/18, so another reason for DXY reversal (I have no idea how long, maybe just minor).
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defense wins championships
  • #2,867
  • Feb 15, 2019 9:45am Feb 15, 2019 9:45am
Quoting ZenNy
{quote} Before LO I draw my level and I had a plan....I do not chase prices around......my drawing could be wrong because TA is an art form not an exact science, it is a personal perception based on our own experience and trial...... I think the line 1 and 2 worked nicely today....price broke and were rejected and 1......I think many went long there about but for me line 2 is more important than line 1.....my plan was to look for a BOPullBack at 2...... This time it worked fine, many times it does not but that is ok with me...... My risk was 12...
Sorry Z man ,, swamped here ,, few guys out sick ,, not much time atm ,, hard to even check on phone today ,, nice trade man ,, have a great week end bud
  • #2,868
  • Feb 15, 2019 9:52am Feb 15, 2019 9:52am
Interesting enough your trade and the daily levels ,, open,,, mid point and a poke towards last quarterly low and about half of the projection
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  • #2,869
  • Feb 15, 2019 10:22am Feb 15, 2019 10:22am
Quoting digger1
One of Z mans wedge trade set ups ,,, now its got a mid point for support ,,, above a trendline of sorts got to get thru the open if it does then on to 1332 area again ,,if mid point fails then a shot at the lows again still comes down to what holds and what folds and what kinda mood frankie and london in {image}
all started with yesterdays failures and right from the get go today the low was suspect of getting tagged again and maybe a new one put in ,, the chess match is played in sections ,,,, asia ,, london and usa ,, and they all sold res,,, when mkt going up do the same thing only going the other way
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  • #2,870
  • Edited 10:52am Feb 15, 2019 10:33am | Edited 10:52am
clues where on a bigger chart yesterday also 60 pips from yesterdays mid point failure ,,little things ,, in one day one tops the mkt by a bunch ,, 8 pip a day average per day over all ,,,, thats why the little list of givens must be kept in mind ,,, work on getting 25 pips a day and you have out did the mkt by 3 in all this filling and back filling shit where it doesent hardly move it takes all the clues you can see ,,,,,, no thoughts like what I think the mkt is going do because of this that or the other thing ,,, only thought is wht did the price action tell one by using a few levels,, pick your spots ,,try not to get caught up in the noise and take some profit ,,other wise it may be poof and gone
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  • #2,871
  • Feb 15, 2019 10:45am Feb 15, 2019 10:45am
It would have to gain something ,,anything back to think about how high it would go ,, right now it is getting sold and putting in new lows everyday ,,it will end at some point ,,it is friday but still new low just the same
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  • #2,872
  • Feb 15, 2019 11:05am Feb 15, 2019 11:05am
A few lines drawn will help even if missing the original but gives areas to get in and use a tight stop ,,like most days ,, the best part of the day is over
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  • #2,873
  • Feb 15, 2019 6:46pm Feb 15, 2019 6:46pm
Last shts were stpped for +1 after getting 20 on some with the 2 nd crack from res,, price ended up closeing just above days open price ,, on too next week
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  • #2,874
  • Edited 7:42pm Feb 15, 2019 7:00pm | Edited 7:42pm
when we trade other majors we also need to take in consideration EU, some traders will use the dollar index, I do not.

I went long the Swiss during Asian session, the Swiss has been trending up prior to its range, I bought the bottom of the range.......My initial target was the top of the range for about 1:2 RR.

During the European session EU reached strong support, that is where I took my profits (see my previous chart)......Swiss was also travelling north well but when EU hit support I also took profit there.....not always is possible to justify the reward compare to the risk.....in this case I risked $360 and made $430......If I didn't, it would be a loss....

Often even when the Aussie or another minors hits support/resistance will have an effect on EU but not as must as EU does to the other 6 majors....
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trading is simple but is simple is not easy.
  • #2,875
  • Feb 15, 2019 7:10pm Feb 15, 2019 7:10pm
Monthly and weekly both bear scenarios still intact ,,, daily chart a good push of the lows to finish week out ,,1332 to deal with 1st for more ,,but is a good push lol ,, did not touch last quarters low yet tho,, and still on to next week
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  • #2,876
  • Feb 15, 2019 7:17pm Feb 15, 2019 7:17pm
Hourly ,, finished the week lol,, on the 50 % level for the week 46 pips lower than it started the week so its paltry 8 - 10 pip average a day still like normal ,, and now everything up to date ,,all have a great weekend
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  • #2,877
  • Feb 15, 2019 7:20pm Feb 15, 2019 7:20pm
Quoting ZenNy
when we trade other majors we also need to take in consideration EU, some traders will use the dollar index, I do not. I went long the Swiss during Asian session, the Swiss has been trending up prior to its range, I bought the bottom of the range.......My initial target was the top of the range for about 1:2 RR. During the European session EU reached strong support, that is where I took my profits (see my previous chart)......Swiss was also travelling north well but when EU hit support I also took profit there.....not always is possible to justify...
yea ,, its all a timing thing for sure ,, risk ,reward ,levels, time of day, trade objective, long term holds ,, shorter time holds etc,, which pair has news , it all plays into the equation
  • #2,878
  • Feb 15, 2019 7:40pm Feb 15, 2019 7:40pm
Quoting digger1
{quote} yea ,, its all a timing thing for sure ,, risk ,reward ,levels, time of day, trade objective, long term holds ,, shorter time holds etc,, which pair has news , it all plays into the equation
Hi D, where have you been? Was quite around here without you....

I was also trying to short kiwi at resistance but I used EU as a filter........EU has been into range all week a bit skewed on the short side.....so made sense to short from the middle and buy (covered) at the bottom.....

Doing a bit of work into the house...humid around here.....need a rest...
trading is simple but is simple is not easy.
  • #2,879
  • Feb 15, 2019 7:47pm Feb 15, 2019 7:47pm
Quoting ZenNy
{quote} Hi D, where have you been? Was quite around here without you.... I was also trying to short kiwi at resistance but I used EU as a filter........EU has been into range all week a bit skewed on the short side.....so made sense to short from the middle and buy (covered) at the bottom..... Doing a bit of work into the house...humid around here.....need a rest...
couple of the crew out sick ,,so a little more than normal for me to do ,,kinda messed up my trading week lol,, oh well the way its goes I reckon ,, lots of other things going on getting ready for a new year
  • #2,880
  • Feb 17, 2019 2:56am Feb 17, 2019 2:56am
100 pip range last week but printed a new year's low.

Tomorrow us bank holiday so it could be a slow day with low volume.

We will have some news (minutes from ecb and fed and PMI in Europe that could trigger some move on Wednesday and Thursday morning)

I will watch closely PA around 1.1275 (daily close on Monday since then it's ranging). There are a bunch of levels around 1.128x (mid range last week, mid yesterday)

Have some Eu long running from Friday.
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