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  • #1,166,061
  • Apr 8, 2020 10:58am Apr 8, 2020 10:58am
Quoting here2there
I am sitting on the sideline for now, as there is no clear direction.{image}Source I will wait for the Daily candle to close, set up my EA to implement a breakout strategy, and then take what the market gives me.
Todays trend is indigestible
I'm enjoying the wins because I was once terrified by loses
  • #1,166,062
  • Apr 8, 2020 11:13am Apr 8, 2020 11:13am
Quoting Erto
{quote} Todays trend is indigestible
A retracement of more than 50% has taken place on yesterday's Daily candle. Today's Daily candle is showing signs of bearish weakness. Therefore, it's likely we will breakout to the upside. But you never know with USD. USD is full of surprises. So it's wise to proceed with caution.
Attached Image
That being said, I am currently more bullish on EURUSD than bearish but still sitting on the sideline for now.
Learn from your mistakes and march on.
  • #1,166,063
  • Apr 8, 2020 11:21am Apr 8, 2020 11:21am
Quoting here2there
{quote} A retracement of more than 50% has taken place on yesterday's Daily candle. Today's Daily candle is showing signs of bearish weakness. Therefore, it's likely we will breakout to the upside. But you never know with USD. USD is full of surprises. So it's wise to proceed with caution.{image}That being said, I am currently more bullish on EURUSD than bearish.
To which level down you expect?
  • #1,166,064
  • Apr 8, 2020 11:25am Apr 8, 2020 11:25am
Quoting forexer11
{quote} To which level down you expect?
I am currently more bullish than bearish but sitting on the sideline for now.

As mentioned in an earlier comment, when today's Daily candle closes, I will use my EA to set up a hedge in preparation for a breakout. Then I will take whatever the market gives me.
Learn from your mistakes and march on.
  • #1,166,065
  • Apr 8, 2020 11:27am Apr 8, 2020 11:27am
Quoting here2there
{quote} I am currently more bullish than bearish but sitting on the sideline for now. As mentioned in an earlier comment, when today's Daily candle closes, I will use my EA to set up a hedge in preparation for a breakout. Then I will take whatever the market gives me.
For me 1.083 ... Dead line
  • #1,166,066
  • Apr 8, 2020 12:09pm Apr 8, 2020 12:09pm
I have the patience, I will wait until tomorrow, or even after for the move .
that is the way in reversel.
you can't knock down a beverage machine with one push
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close up
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yes yes yes
  • #1,166,067
  • Apr 8, 2020 12:29pm Apr 8, 2020 12:29pm
Quoting Moty
you can't knock down a beverage machine with one push{image} close up{image}
CHALLENGE ACCEPTED!!!! LOL
"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #1,166,068
  • Apr 8, 2020 12:34pm Apr 8, 2020 12:34pm
Quoting here2there
{quote} If you don't want to get into it with other traders, then don't use words like 'Nostradamus' or 'crystal ball' when referring to technical analysis. It's disrespectful and ignorant to do so. It shows you don't have much experience as a trader. Technical analysis is a proven method for trading.
I am not trying to give you a banter but just a question of curiosity of what you said; Technical analysis is a proven method of trading. Well, it is.. But the big question is.. is it a proven winning method? If so, any idea of what is that method in particular? Every traders tried using some of thousands out there but only to find out it unsuccessfully and struggling to find the right one. Maybe you find the right one. As far as i know, those legit successful traders doesn't rely purely on technical, they are more psychological.

I don't think it is right to say it is disrespectful, ignorant or inexperience as a trader to think outside technical analysis unless you can prove a winning (consistent) technical method.

Just a question for clarity.. don't hate. Cheers!
Only an idiot knows with certainty to where the market is going.
  • #1,166,069
  • Apr 8, 2020 12:41pm Apr 8, 2020 12:41pm
Quoting Moty
I have the patience, I will wait until tomorrow, or even after for the move . that is the way in reversel. you can't knock down a beverage machine with one push{image} close up{image}
What's your sl ?
  • #1,166,070
  • Apr 8, 2020 12:44pm Apr 8, 2020 12:44pm
Quoting MrBullBear
{quote} I am not trying to give you a banter but just a question of curiosity of what you said; Technical analysis is a proven method of trading. Well, it is.. But the big question is.. is it a proven winning method? If so, any idea of what is that method in particular? Every traders tried using some of thousands out there but only to find out it unsuccessfully and struggling to find the right one. Maybe you find the right one. As far as i know, those legit successful traders doesn't rely purely on technical, they are more psychological. I don't...
From my experience technical analysis is a proven winning strategy. Not all the time, but as long as you are in profit every month you are doing good. Now from my experience, I have been trading supply/demand strategy for years, and applying COT reports and watching news. Always looking at weekly TF and going down to daily and 4 hour TF's, it works great. From my experience, if I am wrong sometimes is because i jumped in too quickly and took a trade. But have been learning from those small mistakes. If I were to look at weekly more carefully and going down to daily and 4 hour TFs, i mostly never would be wrong. But this business is not perfect sometimes we will make mistakes. Also some would say this is a gambling business or guessing business. No it is not, if traders want to gamble, they have a better chance winning at casino then in trading. So I would say it comes down to fundamentals, technicals and sentimentals strategies when it comes to trading. COT reports, and others come in as tools, so not 100% proven strategy but it is a tool that helps traders make decisions in trading. Trade safe.
  • #1,166,071
  • Edited 3:25pm Apr 8, 2020 2:32pm | Edited 3:25pm
Quoting MrBullBear
{quote} As far as i know, those legit successful traders doesn't rely purely on technical, they are more psychological.
It's a combination of both.

Quoting MrBullBear
{quote}I don't think it is right to say it is disrespectful, ignorant or inexperience as a trader to think outside technical analysis unless you can prove a winning (consistent) technical method. Just a question for clarity.. don't hate. Cheers!
I never said it is disrespectful or ignorant to think outside of technical analysis. You took my words out of context. This is what I said: "If you don't want to get into it with other traders, then don't use words like 'Nostradamus' or 'crystal ball' when referring to technical analysis. It's disrespectful and ignorant to do so."

I said 'disrespectful,' because danasa was being disrespectful. In response to a technical idea I shared, he said the following:
Quoting danasa
{quote} Take what the market gives, in the NOW! If it starts reversing you Stop and Reverse. Why play Nostradamus? I personally prefer CHF vs USD. I played USDCHF short. And. Uh, USDCHF is flying down faster than EURUSD.
And I used the word ignorant because anyone who refers to technical analysis in terms of a 'crystal ball' is ignorant when it comes to understanding technical analysis. It's not about predicting the future. It's about reading price action and dealing in probabilities.
This is what he said:
Quoting danasa
{quote} Sorry Sir for differing from your method. I do active trade management. The set and forget mostly at earlier stages when at least 1RRR is not achieved is not my method. If you can't watch the charts actively, you are right. But again trading is in the moment, you can't know what is going to happen next no matter the quality of your crystal ball. Anyway, we are all happy, right!?!
Learn from your mistakes and march on.
  • #1,166,072
  • Apr 8, 2020 3:50pm Apr 8, 2020 3:50pm
Decision area
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yes yes yes
  • #1,166,073
  • Apr 8, 2020 3:59pm Apr 8, 2020 3:59pm
The risk is still on, money flowing into USD... eurusd will sink further...
  • #1,166,074
  • Apr 8, 2020 4:30pm Apr 8, 2020 4:30pm
Quoting Moty
Decision area {image}
I don't see the EURO going up without any stimulus, which they just disagreed on a few hours back. Not to mention COVID is rising in places like Germany.
  • #1,166,075
  • Apr 8, 2020 4:45pm Apr 8, 2020 4:45pm
Quoting investing101
{quote} I don't see the EURO going up without any stimulus, which they just disagreed on a few hours back. Not to mention COVID is rising in places like Germany.
for now it looking like long .

if it breaks down i will change my bias
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yes yes yes
  • #1,166,076
  • Apr 8, 2020 6:11pm Apr 8, 2020 6:11pm
Quoting Moty
the bull run is coming {image} my indicators for anybody who want {file}{file}{file}{file}{file}
Thanks for sharing. Glad to see lots of people like you here who are willing to help newbies like me.
To everyone who have been sharing their strategy so that others could learn, I say thank you. keep up the good work and let the platform continue to be a reputable one.
  • #1,166,077
  • Apr 8, 2020 6:14pm Apr 8, 2020 6:14pm
Quoting here2there
{quote} It's coming. Eventually. But I think it's going to drop again soon before the bull run. Let's see what happens.
  • #1,166,078
  • Apr 8, 2020 6:19pm Apr 8, 2020 6:19pm
Quoting Techanalyst
{quote} From my experience technical analysis is a proven winning strategy. Not all the time, but as long as you are in profit every month you are doing good. Now from my experience, I have been trading supply/demand strategy for years, and applying COT reports and watching news. Always looking at weekly TF and going down to daily and 4 hour TF's, it works great. From my experience, if I am wrong sometimes is because i jumped in too quickly and took a trade. But have been learning from those small mistakes. If I were to look at weekly more carefully...
It's good that you found success after all the experiences you traversed along the learning curves of your journey. You definitely have a better understanding than most traders. And thanks for sharing.

@here2there, yes, it is a combination of both and more. Yes, I took some words out of context and thanks for clarifying.

Anyways, my point is, for learners reading this thread who is trying to absorb every opinion/method/strategy/perspective of different traders. Psychology plays important role and some other aspects. We could be seeing same tool (COT) but some go short and some are long. Our bias is the result of our perspective in trading. Our perspective is the result of our understanding towards market and its behavior and trading. We use technical analysis to justify our bias... our bias is psychological, the outcome of our perspective and understanding.

Green pips to us!
Only an idiot knows with certainty to where the market is going.
  • #1,166,079
  • Apr 8, 2020 6:29pm Apr 8, 2020 6:29pm
Got out - back in
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  • #1,166,080
  • Apr 8, 2020 6:40pm Apr 8, 2020 6:40pm
still in this short. Still looking good. Collected positive swap and all.
I added more to my position in the US session given that my position took on some drawdown. Price *did* come back to around 0888 (chinese auspicious number), and I stayed up to ensure I had a good launch.
Just waiting for the drop today
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