EURUSD

Kinda done for today.

Now back to programming!!!

Just thought I'd show this to show forex can be traded. I trade the same style as this read but on a smaller time frame.

I was just curious what you meant. Also, I think, IMHO, you are being a little too hard on yourself. Your chart, NOT rubbish.

-Cheers

Most of the time when the price hit a bottom,retailers book the short position and go long.. This time algo do the counter move..and push the price lower and trapping game begins.

2020 profit booking seems going on. Next 6 -7 pips on either side give a clue about the next move

Looking for one last trade for the day at the bottom Area Of Interest.

Edit: It's now too late in day to open trade.

anyone else think its coming to a buy this week?

I think ill give it until tomm to break 1900 or maybe market waiting on US stimulus news... leaving a small short open and continuing to look to sell off moves up until bull show up. Guess I want try and call bottom yet

Here's what I've learned or been reminded of in the past 24 hrs:

1) When price action and volume give you multiple signals that the tide is turning listen and act. Took a long position yesterday afternoon at 2:20 EST at 1.20737 with the thesis that the fall from the London session had taken two bottoms with the latter coming within 10 pips of the Jan. 18th low (1.20537) and the sellers might be running out of ammunition. Proved a little premature but I rode down to the re-test of that support level as a 20 pip loss is within acceptable risk limits and it did hold. I was hoping that the recovery would carry all the way back to test the 1.21 level from earlier in the day, but when a 2 hr. steady rise spiked with heavy volume at 9 p.m. EST and started a a slow decline into the overnight hours it looked pretty clear that the upward move was spent. I hung on a little longer to make sure but ultimately exited at 1.20762 for +2.5 pips. Not what I had hoped for but I felt good about recognizing that the cycle had turned and didn't let a small gain become a loss by letting my ego insist that my thesis was more valid than what the chart was telling me.

2) When major resistance breaks often it breaks hard and fast. On my daily market analysis sheet I identified the 1.205-1.2055 as a significant test level. Yesterday on this board I posted that I was watching that level and would likely enter short if price broke below. But it happened at 5:15 a.m. EST when I was sleeping. By the time I woke up I had missed the boat and I really try hard to be disciplined about not chasing. I considered setting a stop sell order before going to bed at 1.2048 to give a few pips room to confirm that the move was a serious violation before triggering. But I'm wary about letting unsupervised orders execute when I can't be paying attention to the dynamics of the price action. If any of you do set unsupervised stop or limit orders when you're away from the screen and use conditional triggers or other safety measures to try to protect against false breaks I would love to learn from you.

3) Treat price targets or pivot points as zones. After missing out on the break that was so clearly visible in advance I was looking for an opportunity to still get in short on the first rise back to the breakdown level. My limited experience has often been that the first rise after a sharp breakdown is only temporary and that there will be another leg left to fall. So after I woke up and saw that the drop has bottomed at 1.2026 I set a stop sell at exactly 1.205 and waited for the pullback I knew was coming. Sure enough it came all the way back to...1.20494! Did I take it? Nope. Held out for that extra 6/10 of a pip because I knew my read was a good one. Kept holding out and missed what could have been at least a 30 pip gain because I wouldn't accept close enough. I feel good that my read on this particular dynamic was solid. I don't feel so good about being too inflexible to take advantage of the price coming within close range instead of exact to my number.

4) Recognize when you're frustrated or impatient for some action and don't try to be too cute. After missing out twice on taking positions that I read right in advance and would have resulted in nice gains toward my weekly goal I was a little irritated and tried to get too cute. I took a long position at 11:30 EST at 1.20291 with the thesis that today's downswing had shown its second bottom at 1.20291 on strong volume and, given that London trading was done, price might make a little recovery into the afternoon from which I could scalp a little 10 pip rise back up to the 15 min. slow MA. Poor probability setup going against the clear two-day trend. Just impatience overriding better judgment. Came to my senses quickly and exited at 1.20191.

Overall these learnings cost me 7.5 pips. I can accept that for a day's tuition.

How about you? What did you learn today? Or do you have any constructive feedback about any of the narratives above?

Thoughtful and profitable trading to you all.

I opened both of my Trade Explorer accounts again so you guys can check my trading activity. Only one is active now because I moved all my funds into that one. The other one is there to show my past successful activity because people have been asking to see it. Currently I'm at 95% ROI for 8 weeks.
Trade safe and stay green!

2042-45.a drop seems coming from here.

EUR/USD turning point on 1H chart which will occur on 2021.02.03
EST in 15 min time frame included

It all depends on Joe and what he is actually serious about. The dude has been everywhere and he has trouble picking one direction and actually sticking to it.

But I know this, reconciliation will lead to ^, bipartisan compromise will lead to v

Hello friends, these are some of the turning points that I could calculate on 5 min chart based on 2 cycles. We will just see whether they will make smaller tops and bottoms in chart.

Good morning. EU recovered some ground after it touched 2011, resistance is at 2070/2100 and support comes below at 2000/1995 and 1960.

I see it has lost its positive correlation with many pairs like AUDUSD, but it is keeping its negative with USDCHF, so I guess it might fall further, or get back up quick from where it started this week.

Also the price action looks different from what it used to be some weeks in the past.

Have a great trading ahead.

This trade is currently still valid and I will be looking to enter the same level when the market opens.

So I guess that the pair will fall between 7 GMT to 8 GMT and then it will rally back.


Just watch...

2037 closed short.. I feel dangerous to short as long as 2028 didnt break

First trade of the day. Sell on the "C" of the ABCD potential to the downside (dark green TL). The rotation candle took PA down to the 38.1% fib which sucked but may add to trade on a higher price.

If 2030 again break and trade lower, it is not a good sign.
Till then bulls have upper hand. No point in shorting i guess