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  • #1,195,521
  • Jun 8, 2021 7:03am Jun 8, 2021 7:03am
Quoting OnlineAddict
{quote} No, YOU haven't experienced neither socialism or communism, so please stop spreading your smartass theories. Your "knowledge" comes from youtube, I suppose. Mine comes from living through those things and expriencing them. p.s. I have a masters degree in economics. Please go back to buying EU above 2200, thats what you are "good" at the past 3 weeks, maybe you can close a few trades 5 pips in profit.
Economics is a pseudo science. I have a masters degree in management and I'd never boast about it to anyone, its the same pseudoscience, unlike natural sciences.

I experienced communism as a kid.

You obviously have no idea about europe if you claim bs like "every major town in europe has a ghetto" (no it does not). You are so anti-europe despite the fact that euro is one of the strongest currencies, has some of the highest living standards and it's been like that for years now. Also the taxation crap - every country has its own tax code so if you claim that "entrepreneurs are pretty much being punished here for working hard" you gotta say which country you have in mind.
  • #1,195,522
  • Jun 8, 2021 7:12am Jun 8, 2021 7:12am
The NFP move up was very strong and created a good opportunity for the buyers it has to breadth to the upside somehow.
Looking for profitable short term trades ...|
  • #1,195,523
  • Jun 8, 2021 7:16am Jun 8, 2021 7:16am
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  • #1,195,524
  • Jun 8, 2021 7:42am Jun 8, 2021 7:42am
This is a net positioning graph

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it works when there are more short sellers https://fxssi.com/tools/current-ratio
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  • #1,195,525
  • Jun 8, 2021 7:51am Jun 8, 2021 7:51am
The 15 M chart just bounced down off the upper trend line. I hope to wait a little and catch the bounce up off the lower trendline soon.
  • #1,195,526
  • Jun 8, 2021 8:26am Jun 8, 2021 8:26am
Concerning EURUSD, if we get a candle body close above 21847, then more bullish activity can be expected in accordance with the main trend. However, if we get a candle body close below 21636, then more bearish activity can be expected, and it is possible EURUSD could visit the levels I spoke of in an earlier comment.
Learn from your mistakes and march on.
  • #1,195,527
  • Edited 9:41am Jun 8, 2021 8:35am | Edited 9:41am
The truth of the matter is, we want to believe that there is an edge in reading news announcements, there is not. At best it's 50/50.
How many times good news came out and the market crashed?
How many times bad news came out and the market rallied?
There is no consistency in predicting direction using individual news releases, you can only trade the momentum moves from them.
The only edge you might have is trading against the retail traders. I do not know the numbers on that, because I do not get in and out with the news.
As for the capitalism vs socialism, that is the trigger words / labels that govs created to make divisions and get the peasants to squabble.
Their main component is taxation, it does not matter the reason behind it. Socialism is more straight forward about it. Yes, we are going to take 75% or more of your earnings. Capitalism hides the taxes in everything else and gives a lower personal tax rate. It comes out the same in the end.
A person labors approximately 7 to 8 months a year, of that year, to pay taxes.
MY GRID. Markets are NOT random.
  • #1,195,528
  • Jun 8, 2021 8:46am Jun 8, 2021 8:46am
There are certain toxic people in here who apparently just want to argue with others and complain about comments they don't agree with. Such people should be ignored. They are cluttering up the thread with nonsense and being petty. If you want to know who they are, just visit my ignore list. It's unfortunate the thread lacks moderation to deal with such problematic personalities, but we do have an ignore setting. Let's get back to talking about EURUSD.
Learn from your mistakes and march on.
  • #1,195,529
  • Jun 8, 2021 8:48am Jun 8, 2021 8:48am
The RSI lacks upward momentum.

TC preference:
Short positions below 1.2200 with targets at 1.2160 & 1.2145 in extension.
Attached Image


Alternative scenario:
Above 1.2200 look for further upside with 1.2215 & 1.2230 as targets.
  • #1,195,530
  • Jun 8, 2021 8:48am Jun 8, 2021 8:48am
Quoting tonyb123
The truth of the matter is, we want to believe that there is an edge in reading news announcements, there is not. At best it's 50/50. How many times good news came out and the market crashed? How many times bad news came out and the market rallied? There is no consistency in predicting direction using individual news releases, you can only trade the momentum moves from them. The only edge you might have is trading against the retail traders. I do not know the numbers on that because, I do not get in and out with the news. As for the capitalism vs...
Trading macro economics is actually very helpful. Bit it takes time to learn because it is analysis. You are confusing that with the reaction news and that is not the same. Second, capitalism and socialism are two different things. Capitalism you can earn unlimited money, be your own boss and so on. Socialism and communism you cant. There are limits and no matter what, they wont let you pass that line. North Korea is a perfect example. So no matter what capitalism is better. You can work have a business on the side, you can work many part time jobs, you can work and go to school, freedom of speech and so on. In communism socialism you cant do a lot of things...
  • #1,195,531
  • Jun 8, 2021 8:51am Jun 8, 2021 8:51am
EURAUD is breaking out on the 4HR. You might want to take a look at it.
Learn from your mistakes and march on.
  • #1,195,532
  • Jun 8, 2021 9:10am Jun 8, 2021 9:10am
Quoting Techanalyst
{quote} Trading macro economics is actually very helpful. Bit it takes time to learn because it is analysis. You are confusing that with the reaction news and that is not the same. Second, capitalism and socialism are two different things. Capitalism you can earn unlimited money, be your own boss and so on. Socialism and communism you cant. There are limits and no matter what, they wont let you pass that line. North Korea is a perfect example. So no matter what capitalism is better. You can work have a business on the side, you can work many part...
As I said, I don't trade the news. My system does not rely on the news event for direction. News just moves the market. I am not confused about anything, I do know that there is a difference and you are correct, capitalism is better than communism, socialism. Yes, you can have a business and make as much money as you want but the equation is still the same, you will give back most of those earnings in taxation. The example you used is more apt in a communist country, socialist countries allow you the same freedoms as a capitalist nation. America and Canada are good examples of comparison. Though, nowadays the regulations in America are more socialist leaning.
MY GRID. Markets are NOT random.
  • #1,195,533
  • Jun 8, 2021 9:38am Jun 8, 2021 9:38am
Quoting here2there
EURAUD is breaking out on the 4HR. You might want to take a look at it.
Are you looking for a close above 1.22 or are you eyeing something a little closer to price, say the 4hr candle close above the high of the previous candle?
  • #1,195,534
  • Jun 8, 2021 10:16am Jun 8, 2021 10:16am
Quoting tonyb123
{quote} As I said, I don't trade the news. My system does not rely on the news event for direction. News just moves the market. I am not confused about anything, I do know that there is a difference and you are correct, capitalism is better than communism, socialism. Yes, you can have a business and make as much money as you want but the equation is still the same, you will give back most of those earnings in taxation. The example you used is more apt in a communist country, socialist countries allow you the same freedoms as a capitalist nation....
All trading systems rely on macro. Something you need to learn if you want to make a living in trading. Countries like Canada and America is democracy and capitalism. Has nothing to do with communism and socialism. When you earn money you dont pay most of it to tax that is a stupid statement, if you earn more than 100,000 a year you pay 30-35% tax. But also depends because if you are self employed you can claim and pay even less.
  • #1,195,535
  • Jun 8, 2021 10:27am Jun 8, 2021 10:27am
Its Tuesday yet, EU have made 62 pips this week to the upside, today only 34 pips and looking to close an inside bar a signal that a strong break is coming.

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  • #1,195,536
  • Jun 8, 2021 10:33am Jun 8, 2021 10:33am
Quoting sixconrads
{quote} Are you looking for a close above 1.22 or are you eyeing something a little closer to price, say the 4hr candle close above the high of the previous candle?
I was referring to EURAUD. It's starting to look like a false breakout. So I will wait for a better signal.
Learn from your mistakes and march on.
  • #1,195,537
  • Jun 8, 2021 11:00am Jun 8, 2021 11:00am
Quoting here2there
{quote} I was referring to EURAUD. It's starting to look like a false breakout. So I will wait for a better signal.
Wait till it breaches the AR at 1.58200
  • #1,195,538
  • Jun 8, 2021 11:14am Jun 8, 2021 11:14am
Quoting Elemar
{quote} Wait till it breaches the AR at 1.58200
That's too far up. I am looking for a candle body close above the 1.57315 fractal.
Learn from your mistakes and march on.
  • #1,195,539
  • Jun 8, 2021 11:16am Jun 8, 2021 11:16am
Quoting here2there
{quote} I was referring to EURAUD. It's starting to look like a false breakout. So I will wait for a better signal.
And you even said EURAUD, how I read EURUSD!
  • #1,195,540
  • Jun 8, 2021 11:17am Jun 8, 2021 11:17am
Quoting here2there
{quote} That's too far up. I am looking for a candle body close above the 1.57315 fractal.
"Impatience is the root of failure."

^^
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