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EURUSD Club - Get Your Trend Right

  • #141
  • Dec 29, 2020 10:14am Dec 29, 2020 10:14am
Quoting klm1011
{quote} pingus i suggest to use a computor for trading / proper platform ... else its exposing yr trades to unwanted elements............
Friend, my wife doesn't know what I'm doing
  • #142
  • Dec 29, 2020 10:29am Dec 29, 2020 10:29am
Quoting pingus21
{quote} Friend, my wife doesn't know what I'm doing
........ that strategy has a high loss/ win ratio.......potentially.......
  • #143
  • Dec 29, 2020 10:31am Dec 29, 2020 10:31am
Quoting pingus21
Closing short 22680 at 22430.25pips
good job for winning profits but................ will class it as counter trend trade .............
  • #144
  • Dec 29, 2020 10:59am Dec 29, 2020 10:59am
What do you think klm1011 about buy limit around 2235 with small sl?
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  • #145
  • Dec 29, 2020 12:43pm Dec 29, 2020 12:43pm
Quoting pingus21
What do you think klm1011 about buy limit around 2235 with small sl? {image}
For me, it looks like EUR/USD is potentially dropping down a little bit more towards 1.221 before hitting support by the end of day. Be careful with longs for the moment. I'm on sidelines and basically done for the day after making +2.35% ROI (+47 pips) with a bunch of small longs and shorts today.
You cannot fail if you never give up.
  • #146
  • Dec 29, 2020 1:42pm Dec 29, 2020 1:42pm
Well, it looks like another attempted spike towards today's high, but now an excellent shorting opportunity, I think.
Entered small short at 1.2251. As usual, 10 pip manual TP, or more if the drop looks more promising...
You cannot fail if you never give up.
  • #147
  • Dec 29, 2020 1:52pm Dec 29, 2020 1:52pm
Quoting 7154Superman
Well, it looks like another attempted spike towards today's high, but now an excellent shorting opportunity, I think. Entered small short at 1.2251. As usual, 10 pip manual TP, or more if the drop looks more promising...
Added a 2nd short at 1.22562
You cannot fail if you never give up.
  • #148
  • Dec 29, 2020 1:59pm Dec 29, 2020 1:59pm
Quoting 7154Superman
{quote} Added a 2nd short at 1.22562
Shorting at 22564 & looking for 15-20 pips. Sl 22661
  • #149
  • Dec 29, 2020 2:08pm Dec 29, 2020 2:08pm
Quoting pingus21
{quote} Shorting at 22564 & looking for 15-20 pips. Sl 22661
Good luck.
But now, I read something about the day possibly closing above 1.2266, and about financial aid debacle, so I closed shorts at 1.2251 (+3.8 pips total). Done for the day and on sidelines, should wait for new development in Asian session or after.
Trade safe!
You cannot fail if you never give up.
  • #150
  • Dec 29, 2020 2:17pm Dec 29, 2020 2:17pm
Still almost 2 hours too day close. I take little risk to wait for few pips lower. With small loss I'm still on profit today
  • #151
  • Dec 29, 2020 2:31pm Dec 29, 2020 2:31pm
for me .. i will wait for further retracement..... criteria not fulfilled yet for any entries........ semi hibernation....with one eye open......zzzzzz
  • #152
  • Dec 29, 2020 2:42pm Dec 29, 2020 2:42pm
3 longs for 18pips. +1.44% ROI
  • #153
  • Dec 29, 2020 2:51pm Dec 29, 2020 2:51pm
Quoting pingus21
{quote} Shorting at 22564 & looking for 15-20 pips. Sl 22661
Close manually with 8,5 pips profit. Time to sleep. Green pips for all,
  • #154
  • Dec 29, 2020 7:27pm Dec 29, 2020 7:27pm
Wow! Boy, am I glad I was content with small gains and closed off my shorts! Buying now during this spike is contrary to my technique, because the price could retrace at any moment and fall down HARD. Either, wait until a peak is obvious then short the retrace, or wait until it retraces and establishes a new support level, then go long. If you start panic buying now, you are asking for trouble. It has happened to me too many times.
There is no such a thing as missing out. FOMO is only a hype. You will find plenty of opportunities to safely enter into a trade and gain a few green pips every day. The key is to wait for that moment. Once you master that kind of patience, then you will have no problem to consistently make profit and increase your portfolio exponentially over time, regardless of any "trend" of the market.
You cannot fail if you never give up.
  • #155
  • Dec 29, 2020 7:32pm Dec 29, 2020 7:32pm
Appears to be an ascending wedge formation going on on H1/H4 scale ........price likely to come down to a level, likely to make nasty revisit spikes before it does..... lets see..........
potential of a 60 pip or so drop ..........
  • #156
  • Dec 29, 2020 7:44pm Dec 29, 2020 7:44pm
here is a good example of traders who would be attempting reversals before this formation become radar visible , would be burning SL like anything...........
however trading a pattern ofcourse can be used in isolation or traded as part of trend ......... combining together strategy is propably superior but failure of a formation in the face of very strong trends happen ...........
so always get yr trend right first ....... everything else comes after it..........
  • #157
  • Dec 29, 2020 7:56pm Dec 29, 2020 7:56pm
the upper end of the zone of resistance could be 1.22991.............
  • #158
  • Dec 29, 2020 7:59pm Dec 29, 2020 7:59pm
Quoting klm1011
here is a good example of traders who would be attempting reversals before this formation become radar visible , would be burning SL like anything........... however trading a pattern ofcourse can be used in isolation or traded as part of trend ......... combining together strategy is propably superior but failure of a formation in the face of very strong trends happen ........... so always get yr trend right first ....... everything else comes after it..........
Yet, so many times professionals get the trend wrong when it reverses or breaks out unexpectedly, triggering stop losses as well. I like to see it as a random loose cannon, and like the waves of the ocean. That way, I'm more prepared for anti-trend PA that takes even professionals by surprise.
So, when I see contrary potential, I'm out. That is, until PA becomes more clear and predictable.
The truth is, everyone was expecting a retrace of sorts tonight before it breaks out later. But instead, the breakout came prematurely. I saw it coming, and I jumped out. Thank God!
But I didn't go long because of the resistance level and therefore this could be a bull trap.
You cannot fail if you never give up.
  • #159
  • Dec 29, 2020 8:00pm Dec 29, 2020 8:00pm
once again as we can see , buyers would have been supported by the trend as it is like the tail wind , even a bad entry would have worked................ as the trend is up so far........
  • #160
  • Dec 29, 2020 8:05pm Dec 29, 2020 8:05pm
Quoting klm1011
once again as we can see , buyers would have been supported by the trend as it is like the tail wind , even a bad entry would have worked................ as the trend is up so far........
Yes, hindsight is 20/20. But what about those times of unexpected trend failure or reversal? Uhhh... Don't get me started there.... The robber banks love this!
You cannot fail if you never give up.
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