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  • #1,191,501
  • Mar 2, 2021 10:32am Mar 2, 2021 10:32am
Quoting leppozdrav
{quote}... If you put Rsi period 2 on your daily chart and trade the opposite of extreme levels 10 and 90, you can catch the reversals before they happen......so it's definitely not a lagging indicator.
That is an excellent strategy when used in combination with other signals! If you want to know what other signals I am referring to, then feel free to send me a private message and I will explain.
Learn from your mistakes and march on.
  • #1,191,502
  • Mar 2, 2021 10:41am Mar 2, 2021 10:41am
For me RSI is used for measurement in relation with price and can show how strong a trend is according its rate of change.


I am short here, because I feel generous (made my weekly target) and nothing else, please don't follow my trade!
Looking for profitable short term trades ...|
  • #1,191,503
  • Mar 2, 2021 10:44am Mar 2, 2021 10:44am
Went short at 1.20700.

Will see if it falls and if it falls, how much...
  • #1,191,504
  • Mar 2, 2021 10:53am Mar 2, 2021 10:53am
Quoting NrSLionHeart
Went short at 1.20700. Will see if it falls and if it falls, how much...
Did you not see this post? Why are you trading against strong momentum?
Learn from your mistakes and march on.
  • #1,191,505
  • Mar 2, 2021 10:57am Mar 2, 2021 10:57am
Quoting Js3mwtRc
...I am short here, because I feel generous (made my weekly target) and nothing else, please don't follow my trade!
The people who are on the other side of your trade are not feeling as generous. It's never a good idea to trade against strong momentum.
Learn from your mistakes and march on.
  • #1,191,506
  • Mar 2, 2021 11:11am Mar 2, 2021 11:11am
Don't get too excited about EURUSD's move up just yet. USD is full of surprises! I believe we need to see a strong close above the 1.21092 and 1.21280 zone with a retest for support. Otherwise, this move up could just be temporary. Time will tell.

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Learn from your mistakes and march on.
  • #1,191,507
  • Mar 2, 2021 11:19am Mar 2, 2021 11:19am
Another thing to put into consideration is USD could be on its way to filling the following gap.

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Learn from your mistakes and march on.
  • #1,191,508
  • Mar 2, 2021 11:25am Mar 2, 2021 11:25am
Quoting here2there
{quote} The people who are on the other side of your trade are not feeling as generous. It's never a good idea to trade against strong momentum.
Sometimes it can be rewarding too.
Looking for profitable short term trades ...|
  • #1,191,509
  • Mar 2, 2021 11:29am Mar 2, 2021 11:29am
Quoting swing 123
2069 short .. 20pip sl

bull move is quite stong however even if get knocked out shall see close below 2069 today.
  • #1,191,510
  • Mar 2, 2021 11:31am Mar 2, 2021 11:31am
This is the sad story of my last 24 hours trading... Exited my shorts prematurely.....

Then went long prematurely....>>>Resulted in 60 pips underwater for many positions....

made patience.......and had no SL [ I was a scuba diver pioneer when younger, and it reflects in my trading style...]

Finally I identified the low of 1.19 91 correctly and went more longs there. Now breathing with snorkel on the surface...

I will NOT exit my longs PREMATURELY.... This thingy has more to go till end of Wednesday....

Don't repeat the mistakes I make.....I present them here for AVOIDANCE.....

An overextended move is followed by an overextended correction ......

  • #1,191,511
  • Mar 2, 2021 11:32am Mar 2, 2021 11:32am
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  • #1,191,512
  • Mar 2, 2021 11:35am Mar 2, 2021 11:35am
Quoting here2there
{quote} Did you not see this post? Why are you trading against strong momentum?

Market went up 0.9% (that is 90 pips) with 0 (zero) correction. At some point it should be a retracement. So far it did not reach 1.20870 so there is still a chance that it will fall to 1.20500 the next 3 h
  • #1,191,513
  • Mar 2, 2021 11:39am Mar 2, 2021 11:39am
Quoting F.g
This is the sad story of my last 24 hours trading... Exited my shorts prematurely..... Then went long prematurely....
I struggle with the same problem. We will overcome!
Learn from your mistakes and march on.
  • #1,191,514
  • Edited 11:55am Mar 2, 2021 11:43am | Edited 11:55am
Quoting NrSLionHeart
{quote} Market went up 0.9% (that is 90 pips) with 0 (zero) correction. At some point it should be a retracement. So far it did not reach 1.20870 so there is still a chance that it will fall to 1.20500 the next 3 h
I think I see what you did now. You entered a short before this bullish move happened, right? I was thinking you went short against the strong momentum, but you were actually trading with the bearish momentum before it turned bullish. Is that correct?
Learn from your mistakes and march on.
  • #1,191,515
  • Mar 2, 2021 12:11pm Mar 2, 2021 12:11pm
Quoting here2there
{quote} I think I see what you did now. You entered a short before this bullish move happened, right? I was thinking you went short against the strong momentum, but you were actually trading with the bearish momentum before it turned bullish. Is that correct?
I usually trade at end of market , at night my time , so I calculate ADR, I see it reach 100% , I bet against it. That is what I do for a long time. But sometimes there is night like this. I also expect at least a retrace to 680 area at the very least, hopefully.
Biggest Mistake ? Over Leverage
  • #1,191,516
  • Mar 2, 2021 1:11pm Mar 2, 2021 1:11pm
Quoting here2there
{quote} I think I see what you did now. You entered a short before this bullish move happened, right? I was thinking you went short against the strong momentum, but you were actually trading with the bearish momentum before it turned bullish. Is that correct?
Nope, I was doing some other stuff and at 15.55 GMT I see market going up. I thought it is a correction before London closes so I waited.

I entered a small long at 1.20570 and then again at 1.20630 and 1.20700.. Bad move, I thought that this is just a correction on a downtrend. Now I think that the market violently changed direction and I am totally fucked.
  • #1,191,517
  • Edited 8:29pm Mar 2, 2021 5:03pm | Edited 8:29pm
Quoting mistaouting
I would watch move up with should happen of the next day possibly and look to short off move up... IMHO for a swing trade
still watching...first area of resistance for me is 2110-2120 which should get tested then willlook towards 2190....watching price action further into week
LOCK IN RE-ENTER
  • #1,191,518
  • Mar 2, 2021 10:36pm Mar 2, 2021 10:36pm
yesterday when i was buying at 2020 everyone was against me
  • #1,191,519
  • Mar 2, 2021 10:43pm Mar 2, 2021 10:43pm
Quoting PatienceFx
yesterday when i was buying at 2020 everyone was against me
I'm with you I've been long on this pair for a while.
  • #1,191,520
  • Mar 2, 2021 10:46pm Mar 2, 2021 10:46pm
nothing much
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