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Attachments: EURUSD only
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EURUSD only

  • #129,241
  • Mar 25, 2021 11:49am Mar 25, 2021 11:49am
Attached Image (click to enlarge)
Click to Enlarge Name: EUR2803.png Size: 88 KB
  • #129,242
  • Mar 25, 2021 11:49am Mar 25, 2021 11:49am
EURUSD Tomorrow is a bull when everyone less expect it... 1.22 before market close this week we might see.
Forex
  • #129,243
  • Mar 25, 2021 11:56am Mar 25, 2021 11:56am
Quoting Prochartist
EURUSD Tomorrow is a bull when everyone less expect it... 1.22 before market close this week we might see.
400+ pips in a day eh! Not gonna lie I wouldn't mind seeing that for this hail Mary long I have from the bottom

Odds about 1 in a million though
  • #129,244
  • Mar 25, 2021 12:36pm Mar 25, 2021 12:36pm
Quoting mysterio
{quote} 400+ pips in a day eh! Not gonna lie I wouldn't mind seeing that for this hail Mary long I have from the bottom Odds about 1 in a million though
Think about it like that... When you borrow 1.9 Trillion and declare a plan to borrow another 3 Trillions & you have a huge public debt bigger than the GDP will your currency get strong or weak? now how you pump 1.9 Trillion in forex and make money in the process?

You create a fall first challenging the main trend of 600 or 750 pips and you pump the 1.9T when everyone less expect it of 400 to 500 pips up in one day & at the end of the market week trading day.

That's how i see it for tomorrow... even 1.24 will not surprise me as the 1.9 T still need to be pumped in the Forex market
Forex
  • #129,245
  • Mar 25, 2021 12:59pm Mar 25, 2021 12:59pm
Quoting Prochartist
{quote} Think about it like that... When you borrow 1.9 Trillion and declare a plan to borrow another 3 Trillions & you have a huge public debt bigger than the GDP will your currency get strong or weak? now how you pump 1.9 Trillion in forex and make money in the process? You create a fall first challenging the main trend of 600 or 750 pips and you pump the 1.9T when everyone less expect it of 400 to 500 pips up in one day & at the end of the market week trading day. That's how i see it for tomorrow... even 1.24 will not surprise me as the 1.9 T...
I think it will be pumped partially during the days before a new month, so we have untill Wed 31st
  • #129,246
  • Mar 25, 2021 1:02pm Mar 25, 2021 1:02pm
Quoting tonyb123
{quote} 1.1761
Why?
  • #129,247
  • Mar 25, 2021 1:41pm Mar 25, 2021 1:41pm
3 days in a row now the Daily closes are at the very bottom... The one time I try to have an open stop loss and exit on some type of pullback is of course the one time we don't get one in 180 pips. I kept adding and IG decided to cut half my position at 1.17625. since my margin has been negative for 3 days. Crazy how if I had done this on the last 10 of my losses, I'd have made alot of money but the one time I try it it's a 1 direction move. Rough week, hopefully tomorrow there will be some retrace.
  • #129,248
  • Mar 25, 2021 1:46pm Mar 25, 2021 1:46pm
Quoting Kyuu
3 days in a row now the Daily closes are at the very bottom... The one time I try to have an open stop loss and exit on some type of pullback is of course the one time we don't get one in 180 pips. I kept adding and IG decided to cut half my position at 1.17625. since my margin has been negative for 3 days. Crazy how if I had done this on the last 10 of my losses, I'd have made alot of money but the one time I try it it's a 1 direction move. Rough week, hopefully tomorrow there will be some retrace.
IG are crooks- they shut the platform down for 3 days intermittently during the Gamestop saga- unreal. I just got a Pro account with them though so it makes adding swing trades a lot easier. Sorry it went against you, the last couple of days haven't been easy!
  • #129,249
  • Mar 25, 2021 1:53pm Mar 25, 2021 1:53pm
Quoting Kyuu
3 days in a row now the Daily closes are at the very bottom... The one time I try to have an open stop loss and exit on some type of pullback is of course the one time we don't get one in 180 pips. I kept adding and IG decided to cut half my position at 1.17625. since my margin has been negative for 3 days. Crazy how if I had done this on the last 10 of my losses, I'd have made alot of money but the one time I try it it's a 1 direction move. Rough week, hopefully tomorrow there will be some retrace.
Margin call in 180 pips! this is an aggressive trading!, money management is very important. in my case I trade only with 5% of my balance.
  • #129,250
  • Mar 25, 2021 2:06pm Mar 25, 2021 2:06pm
Quoting Beyfor
{quote} Why?
I cannot tell you why.
It is a secret mathematical formula that I discovered and I will not share it publicly or privately.
I will say, EURUSD is in the oversold zone.
MY GRID. Markets are NOT random.
  • #129,251
  • Mar 25, 2021 2:25pm Mar 25, 2021 2:25pm
Hi Folks,

Been a busy week for me. Trades summary below.

16/3 sell entry @ 1.19951
17/3 exited @ 1.19066
+ 0.000205 pips ~ +20.5 pips

18/3 buy entry @ 1.19847
19/3 exited @ 1.19124
-0.00732 pips ~ -73.2 pips

19/3 sell entry @ 1.19867
22/3 exited @ 1.18796
+0.00286 pips ~ +28.6 pips

23/3 sell entry @ 1.1883
26/3 exited @ 1.17744 [today]
+0.001086 pips ~ +108.6 pips

Have a nice weekend ahead
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 18.3 buy.png Size: 28 KB
Click to Enlarge Name: 19.3 sell.png Size: 17 KB
Click to Enlarge Name: 23.3.sell illustration.png Size: 52 KB
Click to Enlarge Name: 23.3 sell.png Size: 29 KB
  • #129,252
  • Mar 25, 2021 2:31pm Mar 25, 2021 2:31pm
Quoting tonyb123
I cannot tell you why.
It is a secret mathematical formula that I discovered and I will not share it publicly or privately.
I will say, EURUSD is in the oversold zone.
Your secret mathematical formula revealed this to you?
Some guy in this thread said it earlier, but it bears repeating: Market can probably stay in oversold/overbought area longer than you can stay solvent.

Not saying it will though
  • #129,253
  • Mar 25, 2021 2:46pm Mar 25, 2021 2:46pm
Quoting helioss
Smart Money Continue to reduce their LONG position on EURO Fx, BEARISH TREND is STILL valid. Positioning is far from HIGHs & LOWs so probably 1.18 will be break Green pips to all {image}
Smart Money show the right way
  • #129,254
  • Edited 3:28pm Mar 25, 2021 2:52pm | Edited 3:28pm
Quoting mkjenna
{quote} Your secret mathematical formula revealed this to you? Some guy in this thread said it earlier, but it bears repeating: Market can probably stay in oversold/overbought area longer than you can stay solvent. Not saying it will though
Yes, it did. I know what I have, and I know that no one on this forum or any other forum has posted anything remotely close. I did not start trading yesterday, just so you know. As far as insolvency in an overbought and oversold area would happen is if you don't know what your doing. I don't have that problem.
Why don't you post something useful for everyone and mind your own business.
MY GRID. Markets are NOT random.
  • #129,255
  • Mar 25, 2021 3:21pm Mar 25, 2021 3:21pm
Quoting mysterio
{quote} IG are crooks- they shut the platform down for 3 days intermittently during the Gamestop saga- unreal. I just got a Pro account with them though so it makes adding swing trades a lot easier. Sorry it went against you, the last couple of days haven't been easy!
I can't tell if it's just absolutely terrible luck or if I'm being hunted. Here are literally the last 4 trades I've taken:

I took a long at 3/16 and got stopped at 1.1880 (8 pip stop, stopped by the spread) before going up
I took a short at 3/18 and got stopped at 1.1989 (10 pip stopped by the spread) before massively dropping
I took a long at 3/19 and I moved my stop further than I normally do to 1.1875 (16 pip stop, low was 1 pip). 1.1874 was the low of the day (1 pip) before retracing to 1.19104

I took a long 2 days ago and decided to try a new method. I entered without stop and when my mental stop hit, I decided to just hold and wait for a pullback instead of getting stopped at the bottom. After a 70 pip drop with seemingly no real pullback at all, half my position was closed at 1.1762 which is currently the low. I've successfully been stopped at the worst possible times for all my trades regardless of what random stop size I've used.

The remaining of my current long has a hard stop at 1.1736. If we bounce up from here, it's way too convenient for me to get half my position force closed at the absolute bottom again. If price actually hits my hard stop perfectly before reversing, I'll need to do some hard analysis.

There have been 3 other recent trades before my 3/16 trade that gets stopped by 1 pip as well regardless if I used a small 8-10 pip stop or a 25-30 pip stop.
  • #129,256
  • Mar 25, 2021 3:27pm Mar 25, 2021 3:27pm
Quoting Kyuu
{quote} I can't tell if it's just absolutely terrible luck or if I'm being hunted. Here are literally the last 4 trades I've taken: I took a long at 3/16 and got stopped at 1.1880 (8 pip stop, stopped by the spread) before going up I took a short at 3/18 and got stopped at 1.1989 (10 pip stopped by the spread) before massively dropping I took a long at 3/19 and I moved my stop further than I normally do to 1.1875 (16 pip stop, low was 1 pip). 1.1874 was the low of the day (1 pip) before retracing to 1.19104 I took a long 2 days ago and decided to...
8 and 10 pip stops are for scalping. So if you tried another method of trading you need to adjust your stops to that methodology. I would not use another method until I practiced sufficiently on demo or micro lot live.
MY GRID. Markets are NOT random.
  • #129,257
  • Mar 25, 2021 3:34pm Mar 25, 2021 3:34pm
Quoting helioss
Smart Money Continue to reduce their LONG position on EURO Fx, BEARISH TREND is STILL valid. Positioning is far from HIGHs & LOWs so probably 1.18 will be break Green pips to all {image}
you're very right, they will continue to reduce their long position on EUR, even now (25th of march), but it wont stay like that for long, i think it will go down to 1.70 then start to rise up, or I could be totally wrong and it will start rising right now.
  • #129,258
  • Mar 25, 2021 3:45pm Mar 25, 2021 3:45pm
Quoting tonyb123
{quote} 8 and 10 pip stops are for scalping. So if you tried another method of trading you need to adjust your stops to that methodology. I would not use another method until I practiced sufficiently on demo or micro lot live.
I know 8-10 pips is too greedy , that’s why I’ve tried other bigger size stops and random sizes. I’m just frustrated that no matter what random number I’ve tried, These last 3 weeks I’ve always been cut at the worst possible place. The other times I picked a top/bottom correctly, I placed entries where my stop would’ve been and it just went straight in my direction from where I was going to enter

Just a very frustrating 3 weeks for me.
  • #129,259
  • Mar 25, 2021 4:04pm Mar 25, 2021 4:04pm
D1 Update

Buy Limit 1.17539 SL 1.17239 TP 1.18359
Attached Image (click to enlarge)
Click to Enlarge Name: 25032021forexfactoryD1.png Size: 23 KB
  • #129,260
  • Edited 4:46pm Mar 25, 2021 4:21pm | Edited 4:46pm
Quoting Kyuu
{quote} I can't tell if it's just absolutely terrible luck or if I'm being hunted. Here are literally the last 4 trades I've taken: I took a long at 3/16 and got stopped at 1.1880 (8 pip stop, stopped by the spread) before going up I took a short at 3/18 and got stopped at 1.1989 (10 pip stopped by the spread) before massively dropping I took a long at 3/19 and I moved my stop further than I normally do to 1.1875 (16 pip stop, low was 1 pip). 1.1874 was the low of the day (1 pip) before retracing to 1.19104 I took a long 2 days ago and decided to...
What you describe sounds totally familiar to me, but you have to recognise the market will gravitate towards peoples stops for liquidity so the real players can build bigger positions. How many times have you seen the market make a big move only to whipsaw back to the origin of that move just to continue its original direction.. this is totally deliberate. It's not personal (if it feels that way, it's because traders tend to be looking at the same things, and put stops and similar places), it's how this market works and it's savage.

Set your stops to breakeven aggressively if you're going to intraday scalp and be aware that the market will come back for them. Ideally (and I've learnt this through months of bitter experience) enter your position when they come back, not as they're breaking away. Confirmation then wait for pullback is always the best way. In terms of hard analysis, yea- I journal absolutely everything and analyse my mistakes hard, more than my successes. I highly recommend this!
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