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EURUSD only

  • #82,941
  • Apr 5, 2019 10:15am Apr 5, 2019 10:15am
Quoting sqaguru
{quote} Hoping for 1.1206
bearssssss action lol
  • #82,942
  • Apr 5, 2019 10:28am Apr 5, 2019 10:28am
For the past few days the resistance has been getting lower. The daily chart is no more looking tentatively bullish if price closes at the low. That green bar from 3 days ago is about to get invalidated.
  • #82,943
  • Apr 5, 2019 10:34am Apr 5, 2019 10:34am
Quoting 4experience
sell 1226 SL 1237 chart soon
closed 1210

long 1215
SL 1209
  • #82,944
  • Apr 5, 2019 10:35am Apr 5, 2019 10:35am
Waiting for candle 1.1206
Attached Image (click to enlarge)
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May the odds be ever in your favor
  • #82,945
  • Apr 5, 2019 10:35am Apr 5, 2019 10:35am
I just want to remind all of you that this Friday is all about "Will weekly candle close below or above 1.1210?". So, please focus on that. Therefore:

  1. If it closes below: bearish continuation will immediately retest lower edge of wedge: 1.1166 area starting from Monday.
  2. If it closes above: Next week support will shift to 1.1205 and same questions will be asked: Will weekly candle close below or above 1.1205 as long as intraday candles still continue to dance near that level.

Stay Green

Attached Image (click to enlarge)
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Focus only on what truly matters!
  • #82,946
  • Apr 5, 2019 10:39am Apr 5, 2019 10:39am
Quoting Mitiblotch
For the past few days the resistance has been getting lower. The daily chart is no more looking tentatively bullish if price closes at the low. That green bar from 3 days ago is about to get invalidated.
Agree. The green bar from wednesday was necessary after 6 days down, but the reaction hasn't continued and we have 3 days of wicks on the daily suggesting that the 1.124-5 area is becoming a strong resistance. It will take some important news or figures to break it. Having said that we are not yet seeing any further strength to push below the LL from last month. Maybe we will be in a tight range 1.119-1.125 until something big happens either way. Next week should clarify.
It takes time
  • #82,947
  • Apr 5, 2019 10:41am Apr 5, 2019 10:41am
Looking at small opp
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May the odds be ever in your favor
  • #82,948
  • Apr 5, 2019 10:47am Apr 5, 2019 10:47am
Quoting 4experience
{quote} closed 1210 long 1215 SL 1209

we are on support
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  • #82,949
  • Apr 5, 2019 10:57am Apr 5, 2019 10:57am
Quoting 4experience
{quote} closed 1210 long 1215 SL 1209

SL modified 1202
I let the position running
Nice weekend everybody !
  • #82,950
  • Apr 5, 2019 11:30am Apr 5, 2019 11:30am
New Buy Order: 1.12125
Lot: x
SL: 20 pips
TP: Open

Stay Green
Focus only on what truly matters!
  • #82,951
  • Apr 5, 2019 12:10pm Apr 5, 2019 12:10pm
Looks like the day wants to close as a big, strong, independent, reversal candle.
Lots of upper shadows there
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  • #82,952
  • Apr 5, 2019 12:20pm Apr 5, 2019 12:20pm
Quoting Ata-Turkoglu
New Buy Order: 1.12125 Lot: x SL: 20 pips TP: Open Stay Green

Hi Ata
Quick question:

Do you always close your trade on a Friday before the week comes to a close?

Or would you advise leaving the trade open?
  • #82,953
  • Apr 5, 2019 12:28pm Apr 5, 2019 12:28pm
Quoting 5astelija
Looks like the day wants to close as a big, strong, independent, reversal candle. Lots of upper shadows there {image}
Are you thinking symmetry here?
  • #82,954
  • Apr 5, 2019 12:32pm Apr 5, 2019 12:32pm
Quoting HumzahJ
{quote} Hi Ata Quick question: Do you always close your trade on a Friday before the week comes to a close? Or would you advise leaving the trade open?
Some days I do some days I don't.. no strict rule there.. But if you decide to leave it open you must be aware of the consequences and make sure you have enough margin for let's say roughly 100 to 200 pips drawdown for EURUSD.. Market rarely goes crazy with 100 pip gaps but you never know.. so just be aware of that case and have enough equity.. (The last huge gap for EURUSD that I remember was roughly 175 pips)

*Putting a SL or Pending Orders for weekends is nonsense.. They will not get activated behind the scenes like many would believe. Instead as soon as market opens, no matter where your SL or Pending Order sits, your order will be closed or filled with the market opening price. Since your SL, TP or Pending Orders have no effect it is best to use no SL at all and be ready in front of your screen at the first second market opens. There you can quickly decide what to do based on situation.

Stay Green
Focus only on what truly matters!
  • #82,955
  • Apr 5, 2019 12:36pm Apr 5, 2019 12:36pm
Quoting Ata-Turkoglu
{quote} Some days I do some days I don't.. no strict rule there.. But if you decide to leave it open you must be aware of the consequences and make sure you have enough margin for let's say roughly 100 pips drawdown for EURUSD.. Market rarely goes crazy with 100 pip gaps but you never know.. so just be aware of that case and have enough equity.. *Putting a SL or Pending Orders for weekends is nonsense.. They will not get activated behind the scenes like many would believe. Instead as soon as market opens, no matter where your SL or Pending Order...
The risk being that if something sufficiently bad happens that causes much more than a 100 pip move, losses may be catastrophic.
  • #82,956
  • Apr 5, 2019 12:46pm Apr 5, 2019 12:46pm
Quoting sqaguru
{quote} The risk being that if something sufficiently bad happens that causes much more than a 100 pip move, losses may be catastrophic.
Since every trader is responsible for his/her account and assuming he/she is working with a "negative balance" protected broker, which is a must, then all you can lose is your "equity". Basically you are blowing your account. It is nothing "catastrophic" for majority. Only for a stupid millionaire or billionaire who works with a shady broker it could become a disaster.. which then I believe is also illogical.. no wealthy person is stupid enough to invest blindly like that.. So, forget the "catastrophic" part and focus on the "blowing your account" part which I used intentionally. My two cents...

Stay Green
Focus only on what truly matters!
  • #82,957
  • Apr 5, 2019 12:48pm Apr 5, 2019 12:48pm
hey guys
kind of late in the evening here for a trade but if m15 price closes above 1.1214 i will be long with 8 pips Stoploss
in wondering about yourself, you forgot what you came here to be part of
  • #82,958
  • Apr 5, 2019 1:00pm Apr 5, 2019 1:00pm
Quoting Ata-Turkoglu
{quote} Since every trader is responsible for his/her account and assuming he/she is working with a "negative balance" protected broker, which is a must, then all you can lose is your "equity". Basically you are blowing your account. It is nothing "catastrophic" for majority. Only for a stupid millionaire or billionaire who works with a shady broker it could become a disaster.. which then I believe is also illogical.. no wealthy person is stupid enough to invest blindly like that.. So, forget the "catastrophic" part and focus on the "blowing your...
That was a bad use of words by me. I shouldn't have said "catastrophic". I agree with your statement.
  • #82,959
  • Apr 5, 2019 1:55pm Apr 5, 2019 1:55pm
the NFP noise

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  • #82,960
  • Apr 5, 2019 2:37pm Apr 5, 2019 2:37pm
Quoting Ata-Turkoglu
{quote} So, forget the "catastrophic" part and focus on the "blowing your account" part which I used intentionally. My two cents... Stay Green
I like your statement especially the part related to intentionally blowing your account. About 10 years ago I had a problem with a broker that stated that my style of trading was not in accordance with the policies of the company. I had a small account but was able to more than double it in a few months because I followed trends and every time I was making a profit of 8-10 pips I opened a new trade. Since a trend can sometimes last a long time I once had about a dozen trades open and at the first sign that the trend was over I would close all the trades. Since the problem persisted with the fx dealer and he would not allow me to withdraw my profits I opened an account with another dealer and traded against my own account using bigger lots. I would buy with my new broker and sell the same pair with the bad broker. That hedging strategy worked so, after a while, I had totally ran down the profit with the bad dealer so he agreed to close my account and return the remaining funds to me. Since these days fx brokers are regulated they cannot use the excuse that our trading style is against the policies of the company and refuse to allow traders to repatriate profits. Thank God for that.
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