Attachments: EURUSD only

EURUSD only

#137,661
Aug 9, 2021 11:23am Aug 9, 2021 11:23am

Guy1969
Joined Jul 2021 | Status: Trader | 2,202 Posts

Quoting 934rex

Disliked

{quote} Dude, You are right and I'm right, but you are technically wrong. WHY??????? It's called a Risk/ Reward Ratio for two reasons. 1... The risk involved 2... The reward anticipated When you have the two parameters, you can then determine the ratio. My argument is based on Risk & Reward Ratio, not just the amount of money made. We may both make $100, but when we consider the Risk & Reward Ratio factor, I would have made more. You are smart for putting the caveat --- if no stopLOSS was hit. What if both stoploss got hit, the dude...

Ignored

Nope, I'm not wrong at all. If you both entered with a lot size of $1, how do you explain making $20 for every $1 risked when all you did was place your stop 5 pips closer to price? I don't want to argue about this, do the math on paper, and you will see why I'm right. Worse case scenario? He loses $5 more than you when both stops gets hit.

Guy

#137,662
Aug 9, 2021 11:24am Aug 9, 2021 11:24am

9jatrader
Joined Mar 2016 | Status: Trader | 6,333 Posts

Quoting 9jatrader

Disliked

{quote} 30 mins already showing signs of going further down

Ignored

I hope to load enough short when 30 mins closes so well

Make all mistakes in demo and rain in pips in live account

9jatrader All Time Return: -77.5%

#137,663
Aug 9, 2021 11:27am Aug 9, 2021 11:27am

Guy1969
Joined Jul 2021 | Status: Trader | 2,202 Posts

Ok, this circus is going nowhere slowly, closed my shorts for 22pips, let's see what's in store tomorrow.

Cheers All
Guy

#137,664
Aug 9, 2021 11:41am Aug 9, 2021 11:41am

mtako
Joined Sep 2020 | Status: Trader | 8,702 Posts

Quoting 934rex

Disliked

{quote} Dude, You are right and I'm right, but you are technically wrong. WHY??????? It's called a Risk/ Reward Ratio for two reasons. 1... The risk involved 2... The reward anticipated When you have the two parameters, you can then determine the ratio. My argument is based on Risk & Reward Ratio, not just the amount of money made. We may both make $100, but when we consider the Risk & Reward Ratio factor, I would have made more. You are smart for putting the caveat --- if no stopLOSS was hit. What if both stoploss got hit, the dude...

Ignored

Quoting Guy1969

Disliked

{quote} Nope, I'm not wrong at all. If you both entered with a lot size of $1, how do you explain making $20 for every $1 risked when all you did was place your stop 5 pips closer to price? I don't want to argue about this, do the math on paper, and you will see why I'm right. Worse case scenario? He loses $5 more than you when both stops gets hit. Guy

Ignored

If I may, none of you are wrong when you manage to think about it enough from each perspective.... In my opinion, none of you are right either, as I have my own perspective on RRR, not that it is any better ! And for both of you, most probably my perspective is definitely wrong ! This trading world is so vast, no need to waste good energy working on contradicting each other. Gazillions ways to get to the goal.

I still find you both shared good points though !

Now back to EURUSD!

52 rejection in less than 10m meant some extra bear pressure we have seen the result of BUT, we are not out of the woods ! A swift return above 1750 now and we can continue just ranging still

Much less chance of that now that price failed at 52, again + with +1H rising atr and right back at lows... My previous post explains some of the rest of my own flawed view.

Quoting mtako

Disliked

{quote} ... OK, best scenario here was a slow but steady down move and enough volatility kicking in next EU to cut through or further down beyond 1720s, like a knife in butter.. BUT here we are ! But first off, hit some more TPs along the way, biggest fishes for me today ! Hope it to be some of my smallest at end of month ! {quote} Happy trader as always, rain or shine, does not matter! Now, as long as 1767 is not hit again(little chance, but extremely good if not hit!), Ive got a new sell stop at 1.17480 for 12 pips AND at 1.17400 but for a 2H...

Ignored

If I don't mention SL and/or TP = longer-term setup possibly in the works!

#137,665
Aug 9, 2021 12:02pm Aug 9, 2021 12:02pm

mtako
Joined Sep 2020 | Status: Trader | 8,702 Posts

As I repeated so many times in the last month, this is a 400+ days average level that has been my main interest. It has been very very very generous to me EVERYTIME I have considered it in the last many years. If the first touch in weeks, minimum +-100 pips was pocketed in the direction it hits it, before any similarly strong retracement. Lets see if it will happen again !

I can feel the bulls doing everything in their power to avoid these levels under it, again... IT is all smoke...

Attached Image (click to enlarge)

Click to Enlarge

Name: 4573.png
Size: 36 KB

If I don't mention SL and/or TP = longer-term setup possibly in the works!

#137,666
Aug 9, 2021 12:30pm Aug 9, 2021 12:30pm

Guy1969
Joined Jul 2021 | Status: Trader | 2,202 Posts

H1, I will go long only when price breaks out of this channel.

Guy

Attached Image (click to enlarge)

Click to Enlarge

Name: c55366a55e1f4111346fb0317fc688a3.png
Size: 43 KB

#137,667
Aug 9, 2021 12:55pm Aug 9, 2021 12:55pm

934rex
Joined Mar 2021 | Status: As long as the OUTCOME is INCOME... | 408 Posts

Is this a possible EU play

Are we going to see a StopLOSS hunt down to 1.16594 and 1.16276 to clear the liquidity in that range of support???

Attached Image (click to enlarge)

Click to Enlarge

Name: Screenshot_20210809-125117_TradingView.jpg
Size: 581 KB

#137,668
Aug 9, 2021 1:01pm Aug 9, 2021 1:01pm

3Davy
Joined Sep 2013 | Status: Trader | 1,674 Posts

Quoting 934rex

Disliked

Is this a possible EU play Are we going to see a StopLOSS hunt down to 1.16594 and 1.16276 to clear the liquidity in that range of support??? {image}

Ignored

I think we go much lower.
Maybe 1.16 is the next one.We still trading below 200 SMA.

I said last week 1.1730 was my target.

A pull back into 1.1780 still possible.

Maybe a pull back into 1.1780 still possible.

#137,669
Aug 9, 2021 1:13pm Aug 9, 2021 1:13pm

mtako
Joined Sep 2020 | Status: Trader | 8,702 Posts

Oh no... All signs point to a simple shift down under ranging condition so expecting a rise above 65 again

Kidding! Just testing out new probable micro-resistance at 44. Will know soon if it holds!

Quoting mtako

Disliked

{quote}... Ive got a new sell stop at 1.17480 for 12 pips AND at 1.17400 but for a 2H trade ! ... {image}

Ignored

Thats one of my 2 remaining shortterm trades with update : SL moved to BE TP moved to 1720, previous TP missed by .2pips! Revolution! kidding, new setup took over

..

My next level for profits is at 1733 for:

Quoting mtako

Disliked

{quote} Sold at 1757 and again at 17600 and will sell again at around 53 and 46 as long as 66 not hit. 1 for 24 pips, 3 longer term positions depending on 1720s-30s reaction, if we get there.

Ignored

After that, got 1765 to 1740 positions still, all with their own dynamic SL and TPs, strats and mm... Will they survive? Probably not. Will I lose most of my days gains if these last warriors fail, no

. Point of no return perhaps for shorts, but also for profits. No miracle, just essential mm.

Good night all!

Attached Image

If I don't mention SL and/or TP = longer-term setup possibly in the works!

#137,670
Aug 9, 2021 1:14pm Aug 9, 2021 1:14pm

934rex
Joined Mar 2021 | Status: As long as the OUTCOME is INCOME... | 408 Posts

Hello ElliotWAVE

Is 1.16350 reachable via ABC correction of 1:1 ????????

Attached Image (click to enlarge)

Click to Enlarge

Name: Screenshot_20210809-131343_TradingView.jpg
Size: 613 KB

#137,671
Aug 9, 2021 2:06pm Aug 9, 2021 2:06pm

934rex
Joined Mar 2021 | Status: As long as the OUTCOME is INCOME... | 408 Posts

Quoting Guy1969

Disliked

{quote} Nope, I'm not wrong at all. If you both entered with a lot size of $1, how do you explain making $20 for every $1 risked when all you did was place your stop 5 pips closer to price? I don't want to argue about this, do the math on paper, and you will see why I'm right. Worse case scenario? He loses $5 more than you when both stops gets hit. Guy

Ignored

RRR better than just PIPS Count.
I rather have the best RRR than the highest Pips.

EXPLANATION

Assumption A
EURUSD is the pair in consideration

Assumption B
Imagine we both enter the same trade with the same lotsize of 1.00 standard lot and profit target of 100 Pips.

Assumption C
You entered with a StopLOSS of 10 Pips and I entered with 5 Pips.

Assumption D
Spread and commission = $0

Note: 1 pip for 1 standard lot EURUSD is $10

Deduction A
Considering all assumptions
Your Reward = $10 × 100 Pips = $1,000
Your Risk = $10 × 10 Pips = $100
Your Risk/Reward Ratio,
RRR = $100 : $1000 = 1:10

Deduction B
Considering all assumptions
My Reward = $10 × 100 Pips = $1,000
My Risk = $10 × 5 Pips = $50
My Risk/Reward Ratio,
RRR = $50 : $1000 = 1:20

Conclusion
We may earn the same, but my risk is smaller.

If everything stays the same, you will only be able to loss 10 consecutive trades before you get liquidated. On the other hand, I have to lose 20 trades in a row before I lose the account.

#137,672
Aug 9, 2021 2:34pm Aug 9, 2021 2:34pm

tonyb123
Joined Jun 2009 | Status: Trader | 1,734 Posts

Quoting mtako

Disliked

Oh no... All signs point to a simple shift down under ranging condition so expecting a rise above 65 again Kidding! Just testing out new probable micro-resistance at 44. Will know soon if it holds! {quote} Thats one of my 2 remaining shortterm trades with update : SL moved to BE TP moved to 1720, previous TP missed by .2pips! Revolution! kidding, new setup took over .. My next level for profits is at 1733 for: {quote} After that, got 1765 to 1740 positions still, all with their own dynamic SL and TPs, strats and mm... Will...

Ignored

1.1708-1.1670

MY GRID. Markets are NOT random.

#137,673
Aug 9, 2021 2:36pm Aug 9, 2021 2:36pm

Ata-Turkoglu
Joined May 2014 | Status: Full Time Trader | 27,259 Posts

Quoting Guy1969

Disliked

{quote} Nope, I'm not wrong at all. If you both entered with a lot size of $1, how do you explain making $20 for every $1 risked when all you did was place your stop 5 pips closer to price? I don't want to argue about this, do the math on paper, and you will see why I'm right. Worse case scenario? He loses $5 more than you when both stops gets hit. Guy

Ignored

Quoting 934rex

Disliked

{quote} RRR better than just PIPS Count. I rather have the best RRR than the highest Pips. EXPLANATION Assumption A EURUSD is the pair in consideration Assumption B Imagine we both enter the same trade with the same lotsize of 1.00 standard lot and profit target of 100 Pips. Assumption C You entered with a StopLOSS of 10 Pips and I entered with 5 Pips. Assumption D Spread and commission = $0 Note: 1 pip...

Ignored

Let's both of you agree to disagree and move on.. As a reminder: This thread is focusing on posting around EURUSD.. If both of you want to continue with your debate and your mutual lecturings, you can still do it via private messaging but please not here..

Thanks for your cooperation..

Focus only on what truly matters!

#137,674
Aug 9, 2021 2:38pm Aug 9, 2021 2:38pm

macdulio
Joined Oct 2013 | Status: Trader | 1,079 Posts

Faith healer

Attached Image (click to enlarge)

Click to Enlarge

Name: EUR4004.png
Size: 63 KB

#137,675
Edited 4:28pm Aug 9, 2021 2:48pm | Edited 4:28pm

Ata-Turkoglu
Joined May 2014 | Status: Full Time Trader | 27,259 Posts

So far on M30....

Bulls tried twice to break above 1.1760 area but no success... (If we get a 3rd attack inside Asian session, rejection could be expected around 1.1770 and so on and so forth based on purple trend line)
Now candles are slowly dropping inside a descending wedge...
All these lows between 1.1740 and 1.1705 is where bulls are lurking most and with every pip lower, bulls will probably become more and more aggressive...
Long story short: beware of the wedge!

Attached Image (click to enlarge)