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  • #84,681
  • Apr 30, 2019 5:18am Apr 30, 2019 5:18am
Had a resistance line at 1.1213 for a while

Its just bounced of that area

Is it time to sell and make 15 to 20 pips? thoughts?
  • #84,682
  • Apr 30, 2019 5:23am Apr 30, 2019 5:23am
Quoting Mystskull
Edit: Actually i think i am a lot more curious about WHEN you choose to exit. You seem to favor 3pips but sometimes only take 0.7pips and sometimes 8pips.
I move my SL to BE whenever I see it a couple pips in profit then I trail aggressively on M1/M5. So yeah I would have love to take 20 pips on them but realistically I only get a tenth of that. Exits are something I need a lot of work on. I think a good majority of my trades are stopped at +1 or so.
You hesitate, you masturbate.
  • #84,683
  • Edited 5:34am Apr 30, 2019 5:23am | Edited 5:34am
Quoting engweijie
{quote} Hey bro would you elaborate a wee bit on this part? Not doubting you, more for learning purposes - you’re the fundamentals king here. Just curious about the reason why one is > the other.
gladly my friend...

As EU here not just because of Green US ..but mostly because of recent batch RED EU data...which forced the investors even ECB go more Dovish on EU...As FED is kinda done with hiking...and Trump & Co severely against strong US$... US could suffer huge blow if EU recovers from current batch of negative news or just hold its posting by not publishing more and more RED data.. as investors are greatly short on EU and any upside tick with positive fundy could spark short covering..and that wont be pleasant for the EU bears & USD Bulls....

one more thing...Good Data unlikely to change FED's mind ..but could do the opposite to ECB if things started to improve...because the ECB knows the negative interest rate is killing them slowly....

Happy Trading
Trades technical moves enforced by fundamentals
  • #84,684
  • Apr 30, 2019 5:25am Apr 30, 2019 5:25am
Quoting post
{quote} gladly my friend... As EU here not just because of Green US ..but mostly because of recent batch RED EU data...which forced the investors even ECB go more Dovish on EU...As FED is kinda done with hiking...and Trump & Co severely against strong US$... US could suffer huge blow if EU recovers from current batch of negative news or just hold its posting by not publishing more and more RED data.. as investors are greatly short on EU and upside tick with positive fundy could spark short covering..and that wont be pleasant for the EU bears & USD...
Thank you! Still learning how to sieve out what’s important and what’s not. Helped a lot with that explanation.
You hesitate, you masturbate.
  • #84,685
  • Apr 30, 2019 5:29am Apr 30, 2019 5:29am
slowly putting in longs now.
  • #84,686
  • Apr 30, 2019 5:39am Apr 30, 2019 5:39am
Attached Image
  • #84,687
  • Apr 30, 2019 5:39am Apr 30, 2019 5:39am
Quoting engweijie
{quote} I’ve only been selling all day bro Don’t know why I keep getting caught on the wrong side of the trend {image} {image} {image}
How do you really manage to close every given trade in profit? I mean, it never goes against you although you are trading counter trend. If I tried to do something like this I would find myself into a 30-trade list of -3 pips average

we have so much to learn from you
  • #84,688
  • Apr 30, 2019 5:50am Apr 30, 2019 5:50am
Quoting knkie
scalp short sold 1.1210 8 pip target 5 pip SL
exit +3

BUY 1.1211
SL 10
Trgt 30
in wondering about yourself, you forgot what you came here to be part of
  • #84,689
  • Apr 30, 2019 5:51am Apr 30, 2019 5:51am
Quoting Ker
{quote} How do you really manage to close every given trade in profit? I mean, it never goes against you although you are trading counter trend. If I tried to do something like this I would find myself into a 30-trade list of -3 pips average we have so much to learn from you
I’ve been testing out this theory I’ve had about EURUSD where as long as I enter at proper support/resistance zones and not rush into a trade where I’m caught selling the bottom or buying the top, as long as price keeps within the average weekly range if my trade is stuck in a drawdown it goes back to your entry or slightly better (enough to pay the swap if you’re long) in 14 days or less. Don’t have anything to back this up just yet, it’s something I’m experimenting with (per my old style I would only have a tight 3 to 7 pip stop loss) this quarter and so far it’s been working. Don’t really wanna derail this thread but the gist of it is that even though on high high timeframes like the weekly or monthly it’s a bearish trend, on the daily and lower it’s strongly ranging, and as digs would put it, despite a 65 pip average mileage per day, the actual difference moved when is quite low because most of the time it’s ranging back and forth.
You hesitate, you masturbate.
  • #84,690
  • Apr 30, 2019 6:09am Apr 30, 2019 6:09am
Quoting engweijie
{quote} I’ve been testing out this theory I’ve had about EURUSD where as long as I enter at proper support/resistance zones and not rush into a trade where I’m caught selling the bottom or buying the top, as long as price keeps within the average weekly range if my trade is stuck in a drawdown it goes back to your entry or slightly better (enough to pay the swap if you’re long) in 14 days or less. Don’t have anything to back this up just yet, it’s something I’m experimenting with (per my old style I would only have a tight 3 to 7 pip stop loss)...
That is one scary theory though, when looking at the daily chart i do think that the theory has its merits given how choppy the market has been recently but there are times like back in 2018-04-19 EURUSD just flopped straight down. Even if you had bought at the extreme low of the day (1.23292) it still hasn't gone back to that level even till today. You might get caught with a bunch of trades that are stuck in losses. But if it is working for you then keep doing it i guess? Just my 2 cents worth. I mean it may eventually go back there, i guess it just depends if you have the margin available for it. If lets say (just by looking at the graph EURUSD daily seems to be choppy for most of the time) it works like for most of the time, if you could make enough money from that (just holding your position till it is profit) and you retain just a small capital each time (consistently withdrawing money and excess capital) then, in theory, it would actually work. As long as you made more than your small capital's worth from doing this, then even if you get a margin call eventually it would still be profit. Just inject the same capital again next time.
  • #84,691
  • Apr 30, 2019 6:19am Apr 30, 2019 6:19am
Quoting engweijie
{quote} little too tight bro {image}
nice cup...
If you don't know how to earn money, don't loose it.
  • #84,692
  • Apr 30, 2019 6:27am Apr 30, 2019 6:27am
Quoting Mystskull
{quote} That is one scary theory though, when looking at the daily chart i do think that the theory has its merits given how choppy the market has been recently but there are times like back in 2018-04-19 EURUSD just flopped straight down. Even if you had bought at the extreme low of the day (1.23292) it still hasn't gone back to that level even till today. You might get caught with a bunch of trades that are stuck in losses. But if it is working for you then keep doing it i guess? Just my 2 cents worth. I mean it may eventually go back there, i...
I think the key (not just for this but forex in general) is not to overleverage. Per trade I only go 1:1 or at most 1:5, and my trades all stacked up don’t take more than 15% margin. Another user Alorente once said something along the lines here of how if your trade/drawdown worries you, it’s too big a size.

Quoting coolmakina
{quote} nice cup...
d cups or b cups?
You hesitate, you masturbate.
  • #84,693
  • Apr 30, 2019 6:29am Apr 30, 2019 6:29am
Potential double top on M5 by the way and H4 is still quite topped out on momentum
You hesitate, you masturbate.
  • #84,694
  • Apr 30, 2019 6:29am Apr 30, 2019 6:29am
Weekly S/R Levels

Below I am sharing the updated S/R levels for this week.

  1. 1.1215 is being tested at the moment and next resistant area would be: 1.1261
  2. We have 2 wedges. One inner wedge that I use for intraday and one outer wedge that I use long-term.
  3. Overall it seems like bulls will be in control for some time as long as H1 candles stay above 1.12 (200 EMA area on H1).
  4. That being said, selling by relying on 1.1215 can also work but be aware that profits will be limited in case 1.12 shows strong support.

Stay Green

Attached Image (click to enlarge)
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Focus only on what truly matters!
  • #84,695
  • Apr 30, 2019 6:32am Apr 30, 2019 6:32am
Quoting hayder
slowly putting in longs now.
and out. We're at the 1.1214 "brick wall". will sit it out now and wait which direction it goes.
  • #84,696
  • Apr 30, 2019 6:34am Apr 30, 2019 6:34am
Quoting engweijie
Potential double top on M5 by the way and H4 is still quite topped out on momentum
also this
Attached Image (click to enlarge)
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You hesitate, you masturbate.
  • #84,697
  • Apr 30, 2019 6:37am Apr 30, 2019 6:37am
short now at 1.1216
  • #84,698
  • Apr 30, 2019 6:39am Apr 30, 2019 6:39am
Hi,
Price is going up on lower volume.
Steam is out or just waiting for german news?
i don't know. seems that is not going to break up. we have resistance at 1.1214/15.
and as some already charted here, we are close to a potential sell area.
i'm not longing at this moment, neither shorting. waiting time.
cheers
Attached Image (click to enlarge)
Click to Enlarge Name: aaa.png Size: 65 KB
If you don't know how to earn money, don't loose it.
  • #84,699
  • Apr 30, 2019 6:41am Apr 30, 2019 6:41am
I personally don't think its time for selling.. Maybe closing longs partially or fully but no way I am selling here. We might see a breaking bad situation.

Stay Green
Focus only on what truly matters!
  • #84,700
  • Apr 30, 2019 6:58am Apr 30, 2019 6:58am
still long...
if m5 closes above 1.1216 it should go up even further
in wondering about yourself, you forgot what you came here to be part of
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