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  • #125,961
  • Feb 4, 2021 8:54am Feb 4, 2021 8:54am
Quoting abconqq7
{quote} I think you assume too much. The dollar will keep stronger and EU will keep falling
I posted quite a bit of updates after, I'm just simply following my own strategy. I understand the trend is down, but I couldn't ever come up with a good strategy to trade within the trends without having a rather large stop, I've developed my own strategy where I pick potential reversal points and risk very few pips.

However if we blow right through my next and last level of buy, I no longer have any hope for 1.23+ and I'd try to find shorting opportunities. On a daily, we are in a corrective down trend for sure that looks to be turning impulsive, but we're still in a very large weekly up trend but that may end very soon. Whether it will continue up or down IMO is happening soon.
  • #125,962
  • Feb 4, 2021 8:56am Feb 4, 2021 8:56am
Quoting abconqq7
{quote} I think you assume too much. The dollar will keep stronger and EU will keep falling
Not indefinitely it won't.
A wise man changes his mind, a fool never will
  • #125,963
  • Feb 4, 2021 9:00am Feb 4, 2021 9:00am
Quoting MrGuy
{quote} Not indefinitely it won't.
It will keep falling until the big boys want to turn it then they'll post some news as to why they felt like reversing it then I believe in pure price action and that it takes into account all factors including fundamentals. But my execution lately has been terrible, I just need to stick to my own rules and not try anything outside of it. It's the reason for almost all my losses
  • #125,964
  • Feb 4, 2021 9:03am Feb 4, 2021 9:03am
Quoting Kyuu
{quote} It will keep falling until the big boys want to turn it then they'll post some news as to why they felt like reversing it then I believe in pure price action and that it takes into account all factors including fundamentals. But my execution lately has been terrible, I just need to stick to my own rules and not try anything outside of it. It's the reason for almost all my losses
It's pretty chaotic at the moment, just have to ride the waves as and when they present themselves (in the safest way possible). I do think we'll see a return to 1.23 within a month or so, but for the time being dxy looks strong, so it is what it is.
A wise man changes his mind, a fool never will
  • #125,965
  • Feb 4, 2021 9:16am Feb 4, 2021 9:16am
Going with the flow for now, apart from that scalp from 1.20, just two trades, short from the top of that small range then short on the breakout and retrace..

EDIT- closed shorts, now DXY at 91.5. could be a turning point (or at least a stumbling block) 1.1973
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  • #125,966
  • Feb 4, 2021 9:28am Feb 4, 2021 9:28am
Are we beyond the point of trying to switch to a sell? In past experience the moment I do that the price will start going up. I seeing this heading to 1.1900 by end of week.
Stop thinking like a retail trader
Forextrinitrader3.0 Profit This Month: na
  • #125,967
  • Feb 4, 2021 9:29am Feb 4, 2021 9:29am
Trying a scalper-long here to test waters.. (relying on potential 3 drives pattern on M15)

Long 1.1969.. SL must go a little below 1.1958..
Focus only on what truly matters!
  • #125,968
  • Feb 4, 2021 9:30am Feb 4, 2021 9:30am
I posted this yesterday...
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Charts don't drive price, market conditions drive price...
  • #125,969
  • Feb 4, 2021 9:35am Feb 4, 2021 9:35am
Closing all shorts, time to buy.
  • #125,970
  • Feb 4, 2021 9:36am Feb 4, 2021 9:36am
Danger zone for the Euro.
I see if it broke below 1.1935 it will keep falling fast and bull back strongly to new highs, similarly to 2020 senario.
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  • #125,971
  • Feb 4, 2021 9:41am Feb 4, 2021 9:41am
H1 Status Update

1.1988 is new nearest resistance and aggressive sell level..
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Focus only on what truly matters!
  • #125,972
  • Feb 4, 2021 9:49am Feb 4, 2021 9:49am
Quoting Ata-Turkoglu
Trying a scalper-long here to test waters.. (relying on potential 3 drives pattern on M15) Long 1.1969.. SL must go a little below 1.1958..
based on daily this scalping could be the best swing of 2021
  • #125,973
  • Feb 4, 2021 9:51am Feb 4, 2021 9:51am
1.1956 - 1.1965 is the area to look for buys to 1.1983.
  • #125,974
  • Feb 4, 2021 9:51am Feb 4, 2021 9:51am
I think market will go up here u will see protact
  • #125,975
  • Feb 4, 2021 9:52am Feb 4, 2021 9:52am
Gap from early feb, any bounce off a consolidation here will at least reach that level.
  • #125,976
  • Feb 4, 2021 9:52am Feb 4, 2021 9:52am
Quoting gatenio
{quote} based on daily this scalping could be the best swing of 2021
I had 1.1965 as a powerful level on the 4h chart, may have missed it by a hair. Shorts may be too late now IMO. 91.5 on dxy didn't resist cleanly but is a good psych level. On my last chart the purple zone is my anticipated reversal zone
  • #125,977
  • Feb 4, 2021 9:56am Feb 4, 2021 9:56am
Quoting mysterio
{quote} I had 1.1965 as a powerful level on the 4h chart, may have missed it by a hair. Shorts may be too late now IMO. 91.5 on dxy didn't resist cleanly but is a good psych level.
im in 1.1969 till ata’s 1h Res, next week i will be smarter
  • #125,978
  • Feb 4, 2021 9:59am Feb 4, 2021 9:59am
Quoting Ata-Turkoglu
Trying a scalper-long here to test waters.. (relying on potential 3 drives pattern on M15) Long 1.1969.. SL must go a little below 1.1958..
Closed scalper here at 1.1979 with +10 pips as planned..
Focus only on what truly matters!
  • #125,979
  • Feb 4, 2021 10:00am Feb 4, 2021 10:00am
Quoting newbegger
{quote} Looks like I will get stopped out for a loss on this trade. Is only 1 position as I did not have confidence in the trade. As I look at the chart in the quote, it is a triple bottom not a double. Very often, triple tops and bottoms are continuation signals that momentum is changing. In this example, it has gone lower as short term trend is down.
As I suspected, I was stopped out for a loss as I was wrong from the start of the trade.

No trading today for me as NFP tomorrow. It's in my playbook, analysis Thursday.

Happy Trades
Ecclesiastes 1:9
  • #125,980
  • Edited 11:09am Feb 4, 2021 10:06am | Edited 11:09am
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