EURUSD only

Always remember: buying dips below 1.17135 is always a risky act! Whenever long, take profit without much delay! No need for greed..

I haven't posted my image since I was on mobile. This is my recent 15 min chart and 4H analysis:

Arrow 1: I missed the opportunity to sell more at the resistance when I was short. This was ATA's perfect level of resistance and TP for his long at 1.174 In my opinion, this was either bull strength or pump. When we rejected, I knew we were bound for at least 1 more drop. I normally find it comforting when Asian session drops quickly... It makes a wick for London/US open more likely especially since I believed we were in for 1 more quick drop

Arrow 2: I took profit for my short at 1.1667 and went long. Normally, I would've longed at my light blue line, but my support line was a little lower. I figured some momentum would help me grab a few more pips, but had I been any greedier I would've missed my TP and long all together -.- I'm sure many people longed during the spike, then went short. A great way for smart money to quickly pump, dump, and accumulate!

Arrow 3: Added the rest of my long at 1.168 , average order now 1.16717. My TP is 1.1847 where I will short with TP at 1.17429.

2nd image is my 4H chart. I'm a big fan of the number 3, and the highlighted areas I represent as "up moves". As you can see, we found first support and had a little up move. We then had a 2nd support level and had a higher high which was rejected (Ata's 1.174). Finally, since this is the 3rd low and 3rd support, I am inclined to long. Usually by this point, people who tried to long before give up or have been stopped, and other people here are shorting thinking "well it's just gonna go lower". Meanwhile, smart money probably used that entire phase to accumulate their position! If that's the case, price should quickly raise today!

I would like to see price close comfortably above 1.16951 or even as a bull hammer on the daily. Worst case scenario, I break even. A few posts ago, I wrote how I expect the long-term trend to keep going up and it's either here or at 1.15, but that is a little too far for my comfort. Goodluck everyone!

Meanwhile, on M30...

1. 1.16985 is the current party killer for bulls.. But is well.. both sides earned money today (I guess)
2. As long as M30 candles open below 1.1700 roughly, bears have the upper hand!
3. IMHO, 1.1680 is still a good place to risk buying.. If price could drop to 1.1665 it would be even better to buy those levels... but yeah let's focus on the "now"!

I hope it helps

I believe margin is for protection purposes which can be defined as either adding to your position when it's under, or simply having enough equity on your next trade to risk the same percentage of your account.

I personally like to risk the same percentage trade per setup, I don't like using the same "lot size" because it's not scalable. If you neglect transaction cost, +10 pips and -10 pips leaves you at break even. However, +10% and -10% leaves you at 99% (Doesn't matter what order, it's multiplicative). The benefit of using a percentage risk per trade is that if you have a good strategy, you can scale naturally. The negative is if you lose too many in a row, you might not be able to risk the same percentage of your account!

If I lose 10 trades in a row risking 5%, aside from the fact that my strategy probably sucks, I'd be at 59.87% of my original account balance. I might not have enough margin to risk 5% on a trade anymore depending on what I set my stop as! Also, if your trading strategy is simply bad, hey you'll find out sooner than later using a fixed percentage risks haha. That's also why people have high risk to reward setups as well.

It's just a tool like the 50:1 leverage in forex. You don't HAVE to use it, but it's there Use more if you're comfortable as long as you know the risk

looks like we keep going down

The article

Note to self: If this 20 minutes of this 4H doesn't close more bullish than it's at now and especially if the daily closes this bearish and below 1.16951, I will take a small profit on my trade exit because this is not what I would expect from a bottom.. Where the bulls at?

What I am feeling: Once above 1.1685, it is tough to drop back below!

No it's not - look...
Sorry but I'm impressed by this dude!

im feeling like eu to 1.16

That guy probably represents 1.1700

Opened new buy order, right here at 1.1682..
Mental stop below 1.1652..

Good Evening Traders

I m done with my shorts today just left one let running...seller got the upper hand today... not sure ..bulls might have to wait till 1.160x or 1.164x.. will see....so far bear it is...
Trade safe... have a nice evening everyone...



Happy Trading

Looking to trade but waiting until I see a base forming.

So will Ata. We go with faith and a lot of patience. Greetings to all my dear colleagues.

My long is closed basically break even (+1 pips) at 1.16724. If it actually goes up from here and closes high by the end of the day somehow, so be it. I will not chase this order and the move I wanted to happen didn't happen at the right time. On the sidelines for now, I want to see where the day closes. I think we will go down more before any real bounce occurs which is the 2nd scenario on my weekly posted a few posts back, so I will either sideline/short Euro at a better price.

Beware of the Singapore hours seller: 1.1638 your short tp



with tel numbers if you want to ask what they are planning

A weird little story. Eurusd-thijs has been liking my posts for a while now, in return I have paid attention to his posts and have liked where credit is due. I just realized today that he started ignoring me over a week ago. More so, he is ignoring almost every consistent poster in this thread. Wow. a weird situation indeed.
Cheers.

He is probably the real guy who is pushing the red button on his recent post ...

We are in idle hours.. so I believe it won't distract our beloved members..

May I ask you buddy.. why did you ignore some of the good members here?