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EURUSD

  • #1,195,441
  • Jun 7, 2021 10:23am Jun 7, 2021 10:23am
Quoting Js3mwtRc
{quote} Actual 28.1 forecast 25.4 previous 21.0 {quote} The news came out after it bounced from a good confluence level EURUSD 30min. chart {image}
Bounced to 2198, it can do better I am sure

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Looking for profitable short term trades ...|
  • #1,195,442
  • Jun 7, 2021 10:34am Jun 7, 2021 10:34am
1.2217
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MY GRID. Markets are NOT random.
  • #1,195,443
  • Jun 7, 2021 10:43am Jun 7, 2021 10:43am
Quoting here2there
{quote} You clearly don't understand how sentiment works in trading.
He is one of the sentiment, so use him as indicator in trading tools.
  • #1,195,444
  • Jun 7, 2021 10:54am Jun 7, 2021 10:54am
Quoting OnlineAddict
Retail is 5% of the forex market...I am sure the big boys are targetting the $100 retail accounts...
Some time ago I mined data from FF sentiment (only available source I found) and plotted it against the price of GU, correlation was -0.3, meaning that retail sentiment is contrary indicator.
https://www.forexfactory.com/thread/...9#post13441139

Nordling made an excellent point - most retails are just wrong. You can read things like "74% of retail investor accounts lose money ..." on brokerage sites.
Air force
  • #1,195,445
  • Jun 7, 2021 10:59am Jun 7, 2021 10:59am
EUR/USD 1 hour chart.

On the 1 hour chart and higher time frames, once the Williams %R gets to -20 or higher a pair will still in the zone for awhile. It's not over sold.

Sentiment 20% buyers.
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Patience, let the trade come to you.
  • #1,195,446
  • Jun 7, 2021 10:59am Jun 7, 2021 10:59am
Quoting Techanalyst
{quote} He is one of the sentiment, so use him as indicator in trading tools.
We have been adding valuable content to this thread and he keeps coming in here to shoot it down, while offering nothing of substance to back up his beliefs. By reading his comments carefully on the stuff he keeps shooting down, one can see he doesn't really understand how to read the COT report and apply it to the Forex market. Moreover, it can be seen that he doesn't understand how sentiment works in trading, and he apparently has difficulty knowing how to identify a trend. And finally, it appears he doesn't understand the importance of using a top down approach when analyzing currency pairs. In short, he doesn't seem to know what he is doing, and it's likely he has lead a number of noob traders who don't know better down the wrong path.
Learn from your mistakes and march on.
  • #1,195,447
  • Jun 7, 2021 11:10am Jun 7, 2021 11:10am
I have come to the conclusion that I need to increase my screen time.
Learn from your mistakes and march on.
  • #1,195,448
  • Jun 7, 2021 11:17am Jun 7, 2021 11:17am
I know it's after the fact, but don't you think it is interesting how price hit the 38.2 fib level and shot up? This is no coincidence! If you have been following my comments, then you should know what is happening here, as I have touched on this subject before. The fib tool is valuable. Don't neglect to use it.

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Learn from your mistakes and march on.
  • #1,195,449
  • Jun 7, 2021 11:31am Jun 7, 2021 11:31am
Use the fib tool.

EURUSD 4HR chart
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Learn from your mistakes and march on.
  • #1,195,450
  • Jun 7, 2021 12:11pm Jun 7, 2021 12:11pm
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DOW 30 I am returning to my previous chart with a new short attempt. SL and risk well defined and small.....

  • #1,195,451
  • Jun 7, 2021 12:22pm Jun 7, 2021 12:22pm
Quoting F.g
{image} DOW 30 I am returning to my previous chart with a new short attempt. SL and risk well defined and small.....
Are you trading EURUSD? Why not just wait for a signal that agrees with the higher timeframe trend? Impatience and FOMO often lead to loss.
Learn from your mistakes and march on.
  • #1,195,452
  • Jun 7, 2021 12:25pm Jun 7, 2021 12:25pm
For those interested in trading EURUSD. Compare.

3 Day Chart
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Learn from your mistakes and march on.
  • #1,195,453
  • Jun 7, 2021 12:48pm Jun 7, 2021 12:48pm
Unless you are using limit orders to buy or sell at extremes, it is best to wait for confirmation before entering a trade, especially if you are trading against the trend. And it's never a good thing to trade against strong momentum.

Impatience is the root of failure for most traders.
Learn from your mistakes and march on.
  • #1,195,454
  • Jun 7, 2021 12:50pm Jun 7, 2021 12:50pm
Quoting here2there
Unless you are using limit orders to buy or sell at extremes, it is best to wait for confirmation before entering a trade, especially if you are trading against the trend. And it's never a good thing to trade against strong momentum. Impatience is the root of failure for most traders.
Today, I NEEDED to HEAR that. Damn, I always forget to look top down!
  • #1,195,455
  • Jun 7, 2021 12:59pm Jun 7, 2021 12:59pm
Quoting sixconrads
{quote} Today, I NEEDED to HEAR that. Damn, I always forget to look top down!
It takes discipline to stay on the right path. I have always had a problem with impatience. But I am getting better at waiting.

There is nothing wrong with breaking away from time to time. However, such breaks must not be prolonged. And if one plans to digress, he or she better have valid reasons for doing so. Otherwise, the trader on the other side will get the money.
Learn from your mistakes and march on.
  • #1,195,456
  • Jun 7, 2021 1:02pm Jun 7, 2021 1:02pm
Quoting here2there
{quote} It takes discipline to stay on the right path. I have always had a problem with impatience. But I am getting better at waiting. There is nothing wrong with breaking away from time to time. Such breaks must not be prolonged. And if one plans to digress, he or she better have valid reasons for doing so. Otherwise, the trader on the other side will get the money.
The market always reminds me I am the NOVICE!
  • #1,195,457
  • Jun 7, 2021 1:19pm Jun 7, 2021 1:19pm
Just a tip to my fellow traders... there is no such thing as "confirmation" in trading. No such thing as "validation", no such thing as "oversold", no such thing as "overbought". That is the bullshit thing that brokers, trading seminars, trading gurus, "professionals" thought to fool us.

My 2 cents..
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Only an idiot knows with certainty to where the market is going.
  • #1,195,458
  • Jun 7, 2021 1:29pm Jun 7, 2021 1:29pm
Quoting MrBullBear
Just a tip to my fellow traders... there is no such thing as "confirmation" in trading. No such thing as "validation", no such thing as "oversold", no such thing as "overbought". That is the bullshit thing that brokers, trading seminars, trading gurus, "professionals" thought to fool us. My 2 cents.. {image}
Of course there is a such thing as confirmation. Only a novice trader would say otherwise. In your mind there is no confirmation, because you lack discipline as a trader. That's why you are all over the place. Sure, you may win at times, but you will never reach your full potential as a trader thinking like you do.

And even you wait for confirmation. It's called your set of rules for trading. They may not be the best rules, but you use them. Your rules define your confirmation for trading.
Learn from your mistakes and march on.
  • #1,195,459
  • Jun 7, 2021 1:43pm Jun 7, 2021 1:43pm
Quoting here2there
{quote} Of course there is a such thing as confirmation. Only a novice trader would say otherwise. In your mind there is no confirmation, because you lack discipline as a trader. That's why you are all over the place. Sure, you may win at times, but you will never reach your full potential as a trader thinking like you do. And even you wait for confirmation. It's called your set of rules for trading. They may not be the best rules, but you use them. Your rules define your confirmation for trading.
Ok, you wait for confirmation and hope to win in every confirmed market situation. (Lack discipline, all over the place, never reach full potential with that minset.) Hahaha... same here2there I know since 2 years ago. You really have a problem analyzing the situation. You can't figure which is giving bad criticism and giving 2 cents.
Only an idiot knows with certainty to where the market is going.
  • #1,195,460
  • Jun 7, 2021 1:52pm Jun 7, 2021 1:52pm
In my experience the more you wait for confirmation the more you sacrifice your R:R.
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