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The Strength of USD

  • #581
  • Sep 17, 2021 5:28am Sep 17, 2021 5:28am
Quoting JotaP
{quote} Brokers love to promote indicators, they know they don't work most of the time. At least 99% of them don't. Smart Money have their own strategy. Only when we can figure that strategy out we can increase our win rate.
Forex brokers are like the casinos. They just want the players to make bets as often as possible because they know that they have the edges in this negative-sum game. Trading forex is not a zero-sum game. Do you think your forex broker find a match before fulfilling your buy/sell orders?

Profitable traders are profitable because they don’t play what the brokers promote. They don’t chase the market. Instead, they cast their bait and wait for the market to take their bait ...
Market is not random but unpredictable
  • #582
  • Sep 17, 2021 9:45am Sep 17, 2021 9:45am
Quoting 4for4
{quote} Forex brokers are like the casinos. They just want the players to make bets as often as possible because they know that they have the edges in this negative-sum game. Trading forex is not a zero-sum game. Do you think your forex broker find a match before fulfilling your buy/sell orders? Profitable traders are profitable because they don’t play what the brokers promote. They don’t chase the market. Instead, they cast their bait and wait for the market to take their bait ...
From what I have read there are different broker strategies. Almost all of them are, total or partially, dealing desk brokers, even when they reject being classified as that.
Not only they match orders instead of passing them out, but, even better, since they know that 90% of customers will lose money, they assume directly the "risk" of trading against them.
Most brokers, classify their customers by risk. Some do it directly when the customer registers by submitting a long form where they ask lots of questions.
When brokers believe that the customer is of "high risk" they pass directly the order to the Liquidity Provider. Liquidity Providers hate that.
Follow your guts, if you want to lose your money...
  • #583
  • Edited 7:46pm Sep 17, 2021 7:10pm | Edited 7:46pm
Quoting JotaP
{quote} From what I have read there are different broker strategies. Almost all of them are, total or partially, dealing desk brokers, even when they reject being classified as that. Not only they match orders instead of passing them out, but, even better, since they know that 90% of customers will lose money, they assume directly the "risk" of trading against them. Most brokers, classify their customers by risk. Some do it directly when the customer registers by submitting a long form where they ask lots of questions. When brokers believe that...
Initially, every new account will be categorized as Class-B account where all transactions from that account will be absorbed internally (the broker acts as a market-maker).
When an account passed a certain profit-threshold defined by the broker, that account might be reclassified as an A-account after some internal reviews where all transactions from that account will be passed on to the third party (the broker acts as a middleman).
Does anybody whoever worked in a brokerage firm know the percentage of this A-reclassification?
Market is not random but unpredictable
  • #584
  • Sep 17, 2021 8:37pm Sep 17, 2021 8:37pm
Quoting 4for4
{quote} No HH is formed until it can break 93.75 without breaking 91.80 first … Depending on those two levels and your risk-tolerance, we can: 1. Sell with SL @ 93.75, or 2. Buy with SL @ 91.80, or 3. Wait for further development until the market takes our bait …
Last week, the USDX kept its bullish impulse wave going strong.
Buying at this stage is not recommended, but for those who think that 93.75 is high enough, consider the following 1:3-RRR trade:
Sell-Limit USDX @ 93.27 —> 93.75 / 91.80 … [-48 vs +147]
Attached Image (click to enlarge)
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Market is not random but unpredictable
  • #585
  • Edited 11:23am Sep 18, 2021 10:24am | Edited 11:23am
Quoting 4for4
{quote} Learn to identify the impulse and corrective waves of a trend, and know when a trend changes its direction ...
Identify the impulse and corrective waves from the latest swings that happened on the chart …

Example:
The USDX made its last impulse wave from 91.78 to 93.75, and its last corrective wave from 93.75 to 91.80 …
Currently, it’s making an unfinished impulse wave from 91.80 up to 93.20 …
Attached Image (click to enlarge)
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(Market never stops swinging)
Market is not random but unpredictable
  • #586
  • Sep 19, 2021 9:16pm Sep 19, 2021 9:16pm
Quoting 4for4
Sell-Limit USDX @ 93.27 —> 93.75 / 91.80 …
Executed. Let’s see if 93.75 can hold …
Attached Image (click to enlarge)
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Market is not random but unpredictable
  • #587
  • Sep 20, 2021 12:21am Sep 20, 2021 12:21am
Quoting 4for4
{quote} Executed. Let’s see if 93.75 can hold … {image}
In my opinion, it is a good short term target. I only believe there will be a retracement today, then the move will continue up if USD news are good.
Follow your guts, if you want to lose your money...
  • #588
  • Sep 23, 2021 4:23am Sep 23, 2021 4:23am
crazee price action

Attached Image (click to enlarge)
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It takes a lot for me to IGNORE you, but you can try.
  • #589
  • Sep 23, 2021 6:08am Sep 23, 2021 6:08am
Quoting Erebus
crazee price action {image}
Don’t be swayed by short-term fluctuations. The weekly will properly summarize what happened in the daily and lower timeframes …
Market is not random but unpredictable
  • #590
  • Sep 23, 2021 6:22am Sep 23, 2021 6:22am
Quoting Erebus
crazee price action {image}
Attached Image (click to enlarge)
Click to Enlarge Name: 2021-09-23_07-22-08.png Size: 274 KB
In tea leaves we trust!
  • #591
  • Sep 23, 2021 7:10am Sep 23, 2021 7:10am
Quoting Mcbeaners
{quote} {image}
that chart is not updating

are you connected?

It takes a lot for me to IGNORE you, but you can try.
  • #592
  • Sep 23, 2021 7:19am Sep 23, 2021 7:19am
Quoting Erebus
{quote} that chart is not updating are you connected?
chart wasn't setup to share, now is.

Https://www.tradingview.com/chart/XTy38Mlj/
In tea leaves we trust!
  • #593
  • Sep 23, 2021 7:31am Sep 23, 2021 7:31am
Quoting Mcbeaners
{quote} chart wasn't setup to share, now is. Https://www.tradingview.com/chart/XTy38Mlj/

sorry EOD data, didn't notice.
In tea leaves we trust!
  • #594
  • Sep 23, 2021 7:52am Sep 23, 2021 7:52am
ok using mt4 (hate it) but it got real time.

we are at a good reflection point for rise into 93.671
Attached Image (click to enlarge)
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In tea leaves we trust!
  • #595
  • Sep 23, 2021 7:55am Sep 23, 2021 7:55am
Quoting Mcbeaners
… we are at a good reflection point for rise into 93.671 …
Any EP and SL?
Market is not random but unpredictable
  • #596
  • Sep 23, 2021 8:20am Sep 23, 2021 8:20am
Quoting 4for4
{quote} Any EP and SL?
ep - 93.086 as seen on the chart

sl - hmmm 92.96
In tea leaves we trust!
  • #597
  • Sep 23, 2021 8:44am Sep 23, 2021 8:44am
Quoting Mcbeaners
{quote} ep - 93.086 as seen on the chart sl - hmmm 92.96
first price rejection of what was support. beware.
Attached Image (click to enlarge)
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In tea leaves we trust!
  • #598
  • Sep 23, 2021 8:52am Sep 23, 2021 8:52am
still not out for this long, need to see how 5m chart respects support. if she goes through - game on. otherwise get out.
Attached Image (click to enlarge)
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In tea leaves we trust!
  • #599
  • Sep 23, 2021 9:58am Sep 23, 2021 9:58am
Quoting Mcbeaners
still not out for this long, need to see how 5m chart respects support. if she goes through - game on. otherwise get out. {image}
not going to double bottom imo. going down.
In tea leaves we trust!
  • #600
  • Sep 23, 2021 9:58am Sep 23, 2021 9:58am
Never trade based on instant analysis. Cast your bait and wait for the market to take the bait ...
Market is not random but unpredictable
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