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EURUSD Club - Get Your Trend Right

  • #601
  • Jan 17, 2021 12:56pm Jan 17, 2021 12:56pm
Quoting pingus21
{quote} The question is how far we can go down. Now I see "gUP" 1.2083 I will be very happy with price around 2200
Great job for not getting caught on this drawdown like I did!
You cannot fail if you never give up.
  • #602
  • Jan 17, 2021 1:05pm Jan 17, 2021 1:05pm
Quoting 7154Superman
{quote} Entered 5th long at 1.20799. Avg position = 1.2118. It looks like we have hit bottom. If it looks like it's capping before I get to BE then I'll close with a small loss. But this is likely a bear trap. Good possibility for retrace up to mid 1.21s or higher. Another option I have if I simply can't prevent margin call before we hit bottom, but there is a good possibility of a retrace, is shave off a small portion of my position for a loss. But that can be devastating if the bottom keeps falling through. I hate that idea... Done it before,...
I deposited some emergency funds I keep aside for times like these. Because I wasn't sure how big of a gap we might have to the downside. With that, I'm preparing to continue adding up to 2 more long positions if price goes down to 1.2025 or lower before retrace.
Then I should be able to milk the heck out that retrace all the way back up to 1.214-1.215. If it gets there. My survival instincts kicking in...
I will consider myself fortunate if I survive this drawdown without any loss.
The way I got into it in the first place was quite a bummer! Hopefully not again.
You cannot fail if you never give up.
  • #603
  • Jan 17, 2021 1:12pm Jan 17, 2021 1:12pm
Quoting hans91
{quote} I think it will touch yearly pivot around 1.1740 - 1.1750 for this year, so best I think keep selling the high. Edit : I love your words of wisdom. It's true, it's just a business I think, nothing guaranteed that our position will give us profit in trading, so by knowing this it would make us not to be worried..
I agree with you on selling the high. We are due for a major stock market crash within the next couple months, this time, a lot worse than last year. But first, we should have 1 more bullish attempt towards all time highs until after Inauguration Day. "Buy the rumor, sell the fact."
Afterwards, reality will set in. Then everyone will realize how hard hit our economy really is and how hard it will really be to turn it around. We'll see...
In the meantime, trade safe, and stay green! Peace out!
You cannot fail if you never give up.
  • #604
  • Jan 17, 2021 1:49pm Jan 17, 2021 1:49pm
Someone on the Cable Update (GBP/USD) thread just now said they have a 16 pip gap up on ig.com.
Hmm...
You cannot fail if you never give up.
  • #605
  • Jan 17, 2021 1:59pm Jan 17, 2021 1:59pm
Quoting 7154Superman
Someone on the Cable Update (GBP/USD) thread just now said they have a 16 pip gap up on ig.com. Hmm...
Xe.Com shows 2089
  • #606
  • Jan 17, 2021 3:49pm Jan 17, 2021 3:49pm
Quoting pingus21
{quote} Xe.Com shows 2089
Great!
I also watch Bitcoin/USD over the weekend on TradingView to get a fair idea of USD price action. Currently, it's a little higher than it was at Fridays Forex market close. It looks like Bitcoin has consolidated well, almost hit the bottom of the bullish trend line today, and is now primed to shoot up another leg, possibly a new ATH. Or at least an attempt... Or maybe one more attempt by bears to break through the bottom before bullish retrace.
COT report shows record amount of USD shorts since 2012. Good news for those holding EUR longs.
We'll see....
You cannot fail if you never give up.
  • #607
  • Edited Jan 18, 2021 12:16am Jan 17, 2021 10:58pm | Edited Jan 18, 2021 12:16am
Quoting 7154Superman
{quote} Great! I also watch Bitcoin/USD over the weekend on TradingView to get a fair idea of USD price action. Currently, it's a little higher than it was at Fridays Forex market close. It looks like Bitcoin has consolidated well, almost hit the bottom of the bullish trend line today, and is now primed to shoot up another leg, possibly a new ATH. Or at least an attempt... Or maybe one more attempt by bears to break through the bottom before bullish retrace. COT report shows record amount of USD shorts since 2012. Good news for those holding...
This should be the last bearish cycle to 1.205ish then retrace up to 1.211 or higher.
I opened and closed a long scalp trade from 1.20692 to 1.20805 for +11.3 pips.
Now, entered 6th and last long position at 1.20716. Avg position = 1.21102. TP = 1.214.
Will add again from emergency funds if price drops below 1.206 before retrace.
You cannot fail if you never give up.
  • #608
  • Jan 18, 2021 2:16am Jan 18, 2021 2:16am
1.2070-58 good range for buying scalping intra day..
  • #609
  • Jan 18, 2021 4:26am Jan 18, 2021 4:26am
Quoting 7154Superman
{quote} This should be the last bearish cycle to 1.205ish then retrace up to 1.211 or higher. I opened and closed a long scalp trade from 1.20692 to 1.20805 for +11.3 pips. Now, entered 6th and last long position at 1.20716. Avg position = 1.21102. TP = 1.214. Will add again from emergency funds if price drops below 1.206 before retrace.
I had a good feeling about closing the contract for 2185 .... And of course I didn't
  • #610
  • Jan 18, 2021 5:40am Jan 18, 2021 5:40am
Quoting Leesi
1.2070-58 good range for buying scalping intra day..
All waiting to see 2100.above move.. But.. Always better play safe... All option open now...
  • #611
  • Jan 18, 2021 6:26am Jan 18, 2021 6:26am
Quoting 7154Superman
{quote} This should be the last bearish cycle to 1.205ish then retrace up to 1.211 or higher. I opened and closed a long scalp trade from 1.20692 to 1.20805 for +11.3 pips. Now, entered 6th and last long position at 1.20716. Avg position = 1.21102. TP = 1.214. Will add again from emergency funds if price drops below 1.206 before retrace.
Bitcoin is bouncing. Got a feeling EUR will follow.
Entered 7th long at 1.20625. Avg 1.21034. TP 1.21275.
Since today is U.S. holiday, we might not see TP until tomorrow. If it drops more first before bounce, will add more emergency funds.
You cannot fail if you never give up.
  • #612
  • Jan 18, 2021 7:11am Jan 18, 2021 7:11am
1.12056-60 another intra day buy for scalping..
  • #613
  • Jan 18, 2021 7:12am Jan 18, 2021 7:12am
Quoting 7154Superman
{quote} Bitcoin is bouncing. Got a feeling EUR will follow. Entered 7th long at 1.20625. Avg 1.21034. TP 1.21275. Since today is U.S. holiday, we might not see TP until tomorrow. If it drops more first before bounce, will add more emergency funds.
I like your idea mate, even it's dangerous. I notice also EU hasn't retested to 1.211xx area, so I think just only matter of time, bulls will take over for short term..
  • #614
  • Jan 18, 2021 7:55am Jan 18, 2021 7:55am
A move towards 2071 -73 possible..
  • #615
  • Jan 18, 2021 8:25am Jan 18, 2021 8:25am
Quoting Leesi
A move towards 2071 -73 possible..
Hit 2069 and now at 2064..
Any trade below 2060 is not a good sign.. If that happens with volume, then might see 2045.
Any move above 2071 can take it to 2088 -91 level i feel..
So far bias look bearish again
  • #616
  • Jan 18, 2021 9:09am Jan 18, 2021 9:09am
2072 look like a sell for scalping
  • #617
  • Jan 18, 2021 9:39am Jan 18, 2021 9:39am
Quoting Leesi
{quote} Hit 2069 and now at 2064.. Any trade below 2060 is not a good sign.. If that happens with volume, then might see 2045. Any move above 2071 can take it to 2088 -91 level i feel.. So far bias look bearish again
I would love to see above 1.21 if it's possible to give better price to short, but not know how high It can go..
  • #618
  • Jan 18, 2021 2:44pm Jan 18, 2021 2:44pm
Quoting hans91
{quote} I like your idea mate, even it's dangerous. I notice also EU hasn't retested to 1.211xx area, so I think just only matter of time, bulls will take over for short term..
That's why it's an emergency, to make sure I don't get margin called before retrace. I originally made a mistake by entering long at 1.215. Now closed 2 positions. 5 remaining, avg 1.2118, will hold until TP 1.21275 or obvious peak tomorrow. But downside is limited for now until retrace above 1.21 tomorrow. After that, bears should kick in again to bring it down harrddd... Boom
You cannot fail if you never give up.
  • #619
  • Jan 18, 2021 2:49pm Jan 18, 2021 2:49pm
Quoting 7154Superman
{quote} That's why it's an emergency, to make sure I don't get margin called before retrace. I originally made a mistake by entering long at 1.215. Now closed 2 positions. 5 remaining, will hold until TP 1.21275 or obvious peak tomorrow. But downside is limited for now until retrace above 1.21 tomorrow. After that, bears should kick in again to bring it down harrddd... Boom
So tomorrow we sell with huge lot?
  • #620
  • Jan 18, 2021 2:57pm Jan 18, 2021 2:57pm
Quoting pingus21
{quote} So tomorrow we sell with huge lot?
With confirmation, possibly. The bigger the lot, the more careful we gotta be to avoid drawdown. Stop loss at B/E, etc. Elite professionals are predicting a major market crash shortly. That would mean EUR down. But let this my mistake here be a reminder to not assume direction and jump in without confirmation. I hate it when I do that then it reverses on me.
You cannot fail if you never give up.
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