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  • #801
  • Jul 16, 2021 4:32am Jul 16, 2021 4:32am
Quoting scherzi
{quote} I have been shorting this morning GU btw and the PA showed a penetration of the last Wednesday's low. I think there are chances to price to reach the 1.378 area. But that is unimportant. The high-probability shorting opportunities for this European market area almost finished since it has already expanded around 40 pips and there are already signs of fixing imbalances or taking hedging positions and all the stuff. I mean, the European selling program seems quite advanced. Imo it would be prudent waiting till the news are released at 8:30...
Hi Scherzi

Can you kindly enlighten on the importance of time/hour of the day and importance of the day of the week.

Cheers
bilal
"Exchange of hands"
  • #802
  • Jul 16, 2021 4:41am Jul 16, 2021 4:41am
while u guys argue about gu i found interest on UC.
first trade of the day,
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now waiting to buy gu
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offering my system to copy trade. check my link
  • #803
  • Jul 16, 2021 4:52am Jul 16, 2021 4:52am
Sorry people, I have already ended the edits of the prior post. I wish you all a good weekend.
  • #804
  • Jul 16, 2021 4:53am Jul 16, 2021 4:53am
Quoting bilal1947
{quote} Hi Scherzi Can you kindly enlighten on the importance of time/hour of the day and importance of the day of the week. Cheers bilal
That is too long. It is better to go to the 1min thread and just go through Youtube to avoid redundancy. In any case, volume enters the markets at the beginning of each session basically. The first hours of each session are key to find the right direction for the rest of it. For more detailed understanding, one needs to study hard and that info is free and public. Check the 1min thread, please.
  • #805
  • Jul 16, 2021 4:55am Jul 16, 2021 4:55am
Quoting nikosk0
while u guys argue about gu i found interest on UC. first trade of the day, {image} now waiting to buy gu {image}
well it was not argue but learning, i missed the buy but i get it why, and to be honest that is a problem to catch every move... i have to filter high probability setups.
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"Exchange of hands"
  • #806
  • Jul 16, 2021 4:59am Jul 16, 2021 4:59am
Quoting luckyvictor
{quote} What is RN please? I also see FB and QN somewhere, what do they stand for please?
RN=Round number i.e., 1.3900 1.4000
HRN - Half Round number 1.925, 1.950, 1.975
FB - Fibonacci levels 89, 79, 71, 62, 50
"Exchange of hands"
  • #807
  • Jul 16, 2021 5:43am Jul 16, 2021 5:43am
Quoting scherzi
{quote} That is too long. It is better to go to the 1min thread and just go through Youtube to avoid redundancy. In any case, volume enters the markets at the beginning of each session basically. The first hours of each session are key to find the right direction for the rest of it. For more detailed understanding, one needs to study hard and that info is free and public. Check the 1min thread, please.
lol, the guy who asked the question is the author of the 1m thread
like telling him "to man, go to your cave and read again what you have wrote down"

no disrespect

Quoting bilal1947
{quote} well it was not argue but learning, i missed the buy but i get it why, and to be honest that is a problem to catch every move... i have to filter high probability setups. {image}
not in Greece, here everything is arguing

nice trade, i stay put from these moves. and instead of buing gu i sorted uc again. its more extended so might give a better pb
offering my system to copy trade. check my link
  • #808
  • Jul 16, 2021 5:46am Jul 16, 2021 5:46am
Quoting nikosk0
{quote} lol, the guy who asked the question is the author of the 1m thread like telling him "to man, go to your cave and read again what you have wrote down" no disrespect
He is scherzi
"Exchange of hands"
  • #809
  • Jul 16, 2021 7:00am Jul 16, 2021 7:00am
Quoting nikosk0
{quote} lol, the guy who asked the question is the author of the 1m thread like telling him "to man, go to your cave and read again what you have wrote down" no disrespect {quote} not in Greece, here everything is arguing nice trade, i stay put from these moves. and instead of buing gu i sorted uc again. its more extended so might give a better pb
Lol
I know it, I wrote it not for him, but for those reading the thread in the future.

Bilal and me already had private conversations this week.
  • #810
  • Jul 16, 2021 7:30am Jul 16, 2021 7:30am
AU 5 min earlier today 6 SL
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  • #811
  • Jul 16, 2021 7:50am Jul 16, 2021 7:50am
Quoting scherzi
{quote} Price moves back and forward. If this week's market action is lowering prices, which other reason other than clearing imbalances and taking hedging positions for risk covering could that be for? For GU, ~70-100 pips in two hours is a huge move considering this last week range. That is what I mean. A sudden move that allows you to take more than, let's say, 50 pips in 15-30 minutes. {quote} I traded in demo and using simulation during the first 4-5 years without an exception. I never traded live before I got good practice. Then I started...
Just managed to have my lunch break, crazy busy day from work.

Thanks for sharing all these valuable knowledge. Again, I shall spend some time to chew every word and digest them.

In term of trading, yes it is good enough to use the system/rule presented in here, and trade it mechanically. However I do always want to understand how the market works, and I always want to be able to tell a story after seeing the price chart at the end of the day, to explain (or give a reason/story) why it moves fast/slow at this particular time, what is these price action showing, is it accumulating orders or whatever, why it makes a turn at this price n etc. I m practising this story-telling skill on M15 or M5.
  • #812
  • Jul 16, 2021 7:54am Jul 16, 2021 7:54am
Quoting scherzi
I think that the current rally is dangerous due to the fact we have news, and it could cause a whiplash effect later, running lows and then retaking the highs. In any case, what it was a high probability even is that at or near this week's low, we were going to see an important rally. I did not expected it too soon, otherwise I would have been trading it. In any case, I am already done for this week and going to start enjoying the weekend. {image}
Once again, you impress me. Hopefully you can share more on the reasoning/experience telling either in this thread or others. That is a lot to learn from you.

I though the news would just move it and continue moving it in the same direction, but it turns out it retraces almost 90% and now seems to be within the range.
  • #813
  • Jul 17, 2021 7:06am Jul 17, 2021 7:06am
not that i took the trade in the post here on GU
https://www.forexfactory.com/thread/...0#post13626630

but still looks good at 1rrr.

just an insight on how to look at charts, i am mostly a scalper/intraday but i do this analysis for all pairs for piece of mind. maybe some people here can do it if they think it would help.

been doing some weekend analyzing for the next weeks expectations.

most likelly scenario for me is to let monday-tuesday push price to their current direction and then trade the pullbacks on 5m.
i might sort EU if it doesnt gap down with a stop at recent highs for a 3rrr. will see about that

in any case, no signs of reversal for me

have a good weekens
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  • #814
  • Jul 19, 2021 9:58am Jul 19, 2021 9:58am
you will here about it in the news, do not try to buy the dip in stocks.

also when stocks go down dxy ussually gets stronger.
be carefull, it was due time for a corection

havent had a single setup today dammit.
took a loss using another system and thats about it

eu did a massive move but not the kind of setup i am interested in.
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  • #815
  • Edited 1:58pm Jul 20, 2021 1:39pm | Edited 1:58pm
in all fairness i wanted to take this position i didnt. (for
8+rrr). Edit i lied i took a long on eu for my 5ers summer plan account but i forgot about it. But it is not a structure trade
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its really anoying when things happen after or near london close

same kinda position on UC, i took it and was taken out almost break even....

in any case as i said in earlier post, price kept pushing on monday and tuesday on all pairs and the retracement has started. (or a reversal but its too soon currently to tell)

in case any major structure is broken i'll be looking for a retest of the highs or lows on all pairs to trade a reversal. (none has broken as of now 2 hours before NY close)

GJ GU UC maybe
uchf is tempting me to sort it but we'll see, the entry is gone for now for a good rrr.

see ya all
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  • #816
  • Jul 20, 2021 2:19pm Jul 20, 2021 2:19pm
Are you looking to take trades on the 4H charts or are you using those examples to determine the direction for the shorter (5min) trades?
  • #817
  • Jul 21, 2021 12:24am Jul 21, 2021 12:24am
Quoting cometome
Are you looking to take trades on the 4H charts or are you using those examples to determine the direction for the shorter (5min) trades?
+ 4hr trades once a setup arises

but i mostly write it down here as a journal. so if i am not sure about something i come back here and check what i have wrote.

from my past experince i ussually dont post shity trades on the forum so when i post i also use it as a journal and try not to distract from it.
offering my system to copy trade. check my link
  • #818
  • Jul 21, 2021 8:31am Jul 21, 2021 8:31am
uj

not that the structure that i have marked is gonna hold but it will most certainly provide a sort opportunity and if managed properly at worst case its gonna be a break even trade
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  • #819
  • Jul 21, 2021 8:35am Jul 21, 2021 8:35am
Quoting nikosk0
uj not that the structure that i have marked is gonna hold but it will most certainly provide a sort opportunity and if managed properly at worst case its gonna be a break even trade {image}
In most cases that is a bullish trap to catch breakout traders going long after the breakout indeed.

Today I am scanning GU because now there is a bullish breakout, but I am expecting a possible turn.

In any case I have not seen unfortunatelly a good structure for buying today. I think i will not be able to do it.

I need confirmation on m5 and m1, not given yet. So I am not trading today's American session so far.

My intention was selling the day and maybe I was wrong thinking I would have another opportunity now.


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  • #820
  • Jul 21, 2021 8:38am Jul 21, 2021 8:38am
Quoting scherzi
{quote} In most cases that is a bullish trap to catch breakout traders going long after the breakout indeed.
Hi nikosk0 / scherzi

How far we can hold or shall take partials on the way? what shall be tp or can hold long term.
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"Exchange of hands"
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