Attachments: EURUSD only

EURUSD only

#141,461
Oct 28, 2021 9:21am Oct 28, 2021 9:21am

Beyfor
| Commercial User | Joined Dec 2012 | 821 Posts

BOX BREAKOUT

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#141,462
Oct 28, 2021 9:27am Oct 28, 2021 9:27am

marcin.kamaj
| Joined Feb 2020 | Status: Full-Time Trader | 263 Posts

I took short at 1.1681 for 10-15 pips ( will close from hand). Ultra riski game.

Everyone makes mistakes, but only few use equity management.

#141,463
Oct 28, 2021 9:29am Oct 28, 2021 9:29am

Eren10
Joined Aug 2010 | Status: Trader | 1,761 Posts

Quoting eldarreiny

Disliked

Question: I dont understand why the market moved upwards at all today. all my analysis was for a drop. All news came in with the $ being positive. but it went up to even above the daily resistance. Could it be market movers or was my analysis wrong?

Ignored

I have not followed it but I just read somewhere the word 'temporary'. And that is I think about tapering, and if necessary raising the interest rates.

#141,464
Oct 28, 2021 9:42am Oct 28, 2021 9:42am

eldarreiny
| Joined Jan 2021 | Status: Trader | 48 Posts

Quoting Eren10

Disliked

{quote} I have not followed it but I just read somewhere the word 'temporary'. And that is I think about tapering, and if necessary raising the interest rates.

Ignored

so it was an intentional raise right?
well at least i dont feel stupid about my analysis and trades hitting sl

Even if the morrow is barren of promises, nothing shall forestall my return

#141,465
Oct 28, 2021 9:49am Oct 28, 2021 9:49am

pinksushi
| Joined Oct 2021 | Status: Trader | 13 Posts

Quoting pinksushi

Disliked

Hello new member here. Hopefully I can learn as much and contribute as well in this thread. I currently have long positions (short term) up to the flip, where it would eventually hit my limits then continue the downward trend. I will adjust accordingly to price movement. {image}

Ignored

Still targeting the flip at around 1.17500

#141,466
Oct 28, 2021 9:56am Oct 28, 2021 9:56am

RRMotorsport
| Joined Mar 2015 | Status: Trader | 1 Post

EUR Good view.... USD GDP WORSE than Expected!!! Don't be confuse

#141,467
Oct 28, 2021 10:00am Oct 28, 2021 10:00am

Eren10
Joined Aug 2010 | Status: Trader | 1,761 Posts

Quoting eldarreiny

Disliked

{quote} so it was an intentional raise right? well at least i dont feel stupid about my analysis and trades hitting sl

Ignored

More reading about this event and given more attention could maybe help us. I did not give the attention too. And the speach takes an hour, should have listened to it to, or watch the news.

Before the news I just wanted to buy the low, and then said to me news comes out so don't do it

Missed 100 pips.

#141,468
Oct 28, 2021 10:06am Oct 28, 2021 10:06am

fxcontest
Joined Jul 2011 | Status: Trader | 3,130 Posts

https://www.forexfactory.com/news/11...s-for-ecb-rate

Market By The Rumour

But The Rumour Today like Hurricane

Holy Betting Grail strategy

#141,469
Oct 28, 2021 10:11am Oct 28, 2021 10:11am

SnaveForex
Joined Dec 2011 | Status: Trader | 4,013 Posts

Quoting SnaveForex

Disliked

min 1589 1596 bounce to form a forth wave a better short in sitting at 1734 1744 area for 1520 and who knows when till end of year? I will play by the swings {image}

Ignored

Bounce sustained. Now looking like 1734 will be visited

#141,470
Oct 28, 2021 11:01am Oct 28, 2021 11:01am

nic9man
Joined Jun 2020 | Status: Trader | 1,175 Posts

Quoting Ata-Turkoglu

Disliked

{quote} Taking a pause here at 1.1673 and closing long order with +62 pips.. (Total loss so far from choppiness: -118+62=-56 pips..) To be continued!

Ignored

Hey Ata, first time I saw you losing several times in a row - normally I only see you winning

But in the end you go the big move, still impressive! May I ask about your trading rationale today? Why you did you e.g. not trust in the downward sloping support line, kind of like outlined below?
Btw many thanks for your trade transparency, very much appreciated.

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Another day, another dollar.

#141,471
Oct 28, 2021 11:02am Oct 28, 2021 11:02am

Ata-Turkoglu
Joined May 2014 | Status: Full Time Trader | 27,096 Posts

1.1696/1.1705 is serious resistance block on H4 (and on weekly).. Could take time to break above and even fail terribly!

A hint: For now, focus on a temporary pullback towards 1.1666 area! There I believe we can look for buy opportunities the earliest.. Worst case: Deeper pullback to 1.1644.. Therefore: No rush!

*Also keep my weekly chart below in mind! Don't ignore it!

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Focus only on what truly matters!

#141,472
Oct 28, 2021 11:12am Oct 28, 2021 11:12am

Ata-Turkoglu
Joined May 2014 | Status: Full Time Trader | 27,096 Posts

Quoting nic9man

Disliked

{quote} Hey Ata, first time I saw you losing several times in a row - normally I only see you winning But in the end you go the big move, still impressive! May I ask about your trading rationale today? Why you did you e.g. not trust in the downward sloping support line, kind of like outlined below? Btw many thanks for your trade transparency, very much appreciated. {image}

Ignored

I think I coincidently answered your question as well with my last post I shared a few minutes ago: Technicals were actually favoring bulls and yes that support you are mentioning was solid BUT unfortunately I also had this butterfly idea in mind that completes around 1.1401.. I still have... Therefore, I still don't trust bulls! But since we are at these high levels I go with the flow and keep buying dips..

Best wishes

Focus only on what truly matters!

#141,473
Oct 28, 2021 11:14am Oct 28, 2021 11:14am

Shaye
| Joined Jan 2021 | Status: Trader | 3 Posts

Quoting eldarreiny

Disliked

Question: I don't understand why the market moved upwards at all today. all my analysis was for a drop. All news came in with the $ being positive. but it went up to even above the daily resistance. Could it be market movers or was my analysis wrong?

Ignored

I have the exact same issue. I really got burnt today. Hence why I'm on this forum looking for answers. All my fundamental analysis showed that:

1. The ECB were dovish and were not going to even speculate on interest rate rise
2. The economic data that came out for the US was all bearish. Mind you European data was not bad
3. I even googled US GDP Q3 and it said it was predicted to be below expectations but that economists were not worried since this is mainly due to only supply chain issues and next GDP should resume upwards
4. We keep hearing that tapering from the Fed is imminent (another bear news)
5. The ECB were predicted not to start raising interest rates till 2023 as Lagarde thinks inflation is transitory.

I trade on the 4H chart. This is not the first time fundamentals are failing me. Perhaps I should give technical analysis like 80% weighting rather than the 50/50 I'm currently doing. The clues seemed to have been there in the charts with constant testing at around the 1.15904 level (with indication to have gone long instead).

Another bit to worry about was the large amount of EURUSD options: https://www.forexlive.com/Orders. Again this should have told me to be a bit cautious.

I'm relatively new to trading starting a with practice account of 10K in June and moving to £500 to further practice. I brought the practice account from 9.5K to 10K and I'm currently on £450 on the live but small account.

What I'm learning is that technical analysis is way better than fundamental analysis especially on short time scales.

Not sure what caused large buying of EUR though. I'm guessing it's the options.

#141,474
Oct 28, 2021 11:16am Oct 28, 2021 11:16am