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  • #1,174,321
  • Jul 2, 2020 5:34pm Jul 2, 2020 5:34pm
Quoting mistaouting
{quote} Dont know if that will come to fruition...its been dragging along for a while now....market was waiting on news from that last ECB news data.....and they pushed it back to July..... WHO WILLING TO HOLD POSITION OVER THE WEEKEND SHORT OR LONG!!!!!!! RISKY....maybe euro makes all the move needed tomorrow
I don't trade news. Often times, move already made before the news release or delayed. There's a lot of traders from the past who lost money trading the news. Think about this; if news is profitable, financial institutions will just simply wait and trade every news. Good against bad, easy trading right? Then why they don't do it? Answer is obvious. News is for long term trading. If you want to trade the news, you better predict the outcome, take your position before it will release to public. Or trade it after when already experiencing the impact. Not right after it is released. How many times price goes opposite good news? It fluctuates both directions hitting SL? Psychology and scalping is best use in news release trade. And don't use stop loss, it will only get hit.

The better we know, the better we trade. Cheers!
Only an idiot knows with certainty to where the market is going.
  • #1,174,322
  • Jul 2, 2020 6:10pm Jul 2, 2020 6:10pm
Quoting MrBullBear
{quote} I don't trade news. Often times, move already made before the news release or delayed. There's a lot of traders from the past who lost money trading the news. Think about this; if news is profitable, financial institutions will just simply wait and trade every news. Good against bad, easy trading right? Then why they don't do it? Answer is obvious. News is for long term trading. If you want to trade the news, you better predict the outcome, take your position before it will release to public. Or trade it after when already experiencing the...
Very well said very valid points!

IMO The market is driven driven by fundamentals (a currencies economics) and technicals are a result

I study both...and I wouldn't want to be on the wrong side of a interest rate change or a valid H&S pattern

I agree technicals can get you there almost 100% of the time, but knowing news is a great tool to have and us in addition to the the techs
LOCK IN RE-ENTER
  • #1,174,323
  • Jul 2, 2020 6:43pm Jul 2, 2020 6:43pm
Quoting mistaouting
{quote} Very well said very valid points! IMO The market is driven driven by fundamentals (a currencies economics) and technicals are a result I study both...and I wouldn't want to be on the wrong side of a interest rate change or a valid H&S pattern I agree technicals can get you there almost 100% of the time, but knowing news is a great tool to have and us in addition to the the techs
Market is driven by human behavior. Technicals won't get you there. It is just a tool, a measurement base on the past events, footprints left behind by behavior of the market. It gives you a clue or idea. It is never right nor wrong but neutral. It must be use only in whatever purpose it serves us. Cheers!
Only an idiot knows with certainty to where the market is going.
  • #1,174,324
  • Jul 2, 2020 7:13pm Jul 2, 2020 7:13pm
Inserted Video
instagram: stepbystepforex
  • #1,174,325
  • Jul 2, 2020 7:35pm Jul 2, 2020 7:35pm
Quoting MrBullBear
{quote} Market is driven by human behavior. Technicals won't get you there. It is just a tool, a measurement base on the past events, footprints left behind by behavior of the market. It gives you a clue or idea. It is never right nor wrong but neutral. It must be use only in whatever purpose it serves us. Cheers!
Surly for retail traders Technicals are enough....especially if your in and out of positions within a short time.

But for large scale positions or someone holding positions for a very long time...the economic forecast is essential and probably have well paid economist in the firm....

As you said most news is priced in....for it to be priced in someone hedged a position moving the market!

If news is priced in as you said...news moved the market!

Retail traders are just moving on ripples created by economic sentiment....lets call those ripples technicals and what made the splash economic data/news

IMO

EDIT: and there is a possibility for some new ripples this weekend
LOCK IN RE-ENTER
  • #1,174,326
  • Jul 2, 2020 9:22pm Jul 2, 2020 9:22pm
Quoting mistaouting
{quote} Surly for retail traders Technicals are enough....especially if your in and out of positions within a short time. But for large scale positions or someone holding positions for a very long time...the economic forecast is essential and probably have well paid economist in the firm.... As you said most news is priced in....for it to be priced in someone hedged a position moving the market! If news is priced in as you said...news moved the market! Retail traders are just moving on ripples created by economic sentiment....lets call those ripples...
Technicals can never be enough. Again, it is just a tool. A guide. Trading is mind game, psychology plays important role. Cheers!
Only an idiot knows with certainty to where the market is going.
  • #1,174,327
  • Jul 2, 2020 10:42pm Jul 2, 2020 10:42pm
this h4 candle stuck at fib points , making a range
Attached Image
  • #1,174,328
  • Jul 2, 2020 10:43pm Jul 2, 2020 10:43pm
Quoting PatienceFx
this h4 candle stuck at fib points , making a range {image}
look to buy, target 1312
  • #1,174,329
  • Jul 2, 2020 10:46pm Jul 2, 2020 10:46pm
if 1216 holds, nobody can save 1312 from me lol slurp slurp
Attached Image
  • #1,174,330
  • Jul 2, 2020 10:48pm Jul 2, 2020 10:48pm
1.1190 held for 3 weeks now. Feels like this is a good area to go long term for 1.1750/1.2xxx.
4months until election day.
its going to get hectic.
Trade what you see, take what the market gives you.
  • #1,174,331
  • Jul 2, 2020 11:01pm Jul 2, 2020 11:01pm
Quoting VuLe
1.1190 held for 3 weeks now. Feels like this is a good area to go long term for 1.1750/1.2xxx. 4months until election day. its going to get hectic.
taking high and low of Q2 - april, may, june

if Q3 open 1230 holds, we may see some action
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 21 KB
  • #1,174,332
  • Jul 2, 2020 11:13pm Jul 2, 2020 11:13pm
Quoting PatienceFx
{quote} taking high and low of Q2 - april, may, june if Q3 open 1230 holds, we may see some action {image}
either Q3 will be ins`ide bar due to covid - marking range trading as a strategy

or it can br eak boundaries marking trend trading as a strategy

damn my eyesight is so low early in the morning my MS is a pain, i need to step up the AC
  • #1,174,333
  • Jul 2, 2020 11:19pm Jul 2, 2020 11:19pm
alright, starting the day with a short, lets see
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 30 KB
  • #1,174,334
  • Jul 2, 2020 11:22pm Jul 2, 2020 11:22pm
Quoting PatienceFx
alright, starting the day with a short, lets see {image}
overall i may be wrong, but lets see

Q2 61.8% 1156 will be at risk if 1230 breaks
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 30 KB
  • #1,174,335
  • Jul 2, 2020 11:28pm Jul 2, 2020 11:28pm
Quoting PatienceFx
{quote} overall i may be wrong, but lets see Q2 61.8% 1156 will be at risk if 1230 breaks {image}
added short with 1156 target, i am happy now
  • #1,174,336
  • Jul 2, 2020 11:30pm Jul 2, 2020 11:30pm
Quoting PatienceFx
{quote} added short with 1156 target, i am happy now
You happy like you just got into a relationship ..
Happy ever after
  • #1,174,337
  • Jul 2, 2020 11:33pm Jul 2, 2020 11:33pm
this is why i hate oscillators lol
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 40 KB
  • #1,174,338
  • Jul 2, 2020 11:35pm Jul 2, 2020 11:35pm
Quoting JayBag
{quote} You happy like you just got into a relationship .. Happy ever after
sad part is due to my MS condition at the age of 24 i had decided never to marry in life

after 2 decades i am happy being alone

and government keeps me financially secure, so i have nothing to worry about
  • #1,174,339
  • Jul 2, 2020 11:37pm Jul 2, 2020 11:37pm
H1 chart
Attached Image (click to enlarge)
Click to Enlarge Name: 030720 EU bis.png Size: 22 KB
  • #1,174,340
  • Jul 2, 2020 11:42pm Jul 2, 2020 11:42pm
below 1230 if 1156 holds, we may bounce back
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 37 KB
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