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  • #1,202,421
  • Nov 5, 2021 10:31am Nov 5, 2021 10:31am
Quoting Mcbeaners
{quote} well i did show you.... edit - it hit the 1.272 fib and held. will trace and then move higher imo. {image}
heading to 2.0 fib imo.
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In tea leaves we trust!
  • #1,202,422
  • Nov 5, 2021 10:33am Nov 5, 2021 10:33am
Quoting JauntyLoon
{quote} You must be 'in the know', one of Christine's pals
Man. . . . .you guessed on the spot. . . . My knowledge of fundamentals is whatever our friend Techanalyst posts here.

To make things worse , I still didn't look what the NFP numbers are. BUT I carefully watch what the PRICE is doing while they digest the numbers in their stomach . . .

Regards

  • #1,202,423
  • Nov 5, 2021 10:36am Nov 5, 2021 10:36am
Quoting Pytta
{quote} Do u sincerely believe the actual currency values are based on how we read the charts? Reason we have so many indicators is that somewhat at sometime somewhere, one of them will be right and we all hail how technical indicators are the blueprint, neglecting how many supports were broken, how ichimoku didn't do its job, how 61.8% fib didn't actually support, etc. Point being, actual monetary values is based on economic data and politics, retail forex is for the opportunists with good money/risk management. The technical side of thing is limited...

.....Of course.

  • #1,202,424
  • Nov 5, 2021 10:39am Nov 5, 2021 10:39am
Quoting Pytta
{quote} Do u sincerely believe the actual currency values are based on how we read the charts? Reason we have so many indicators is that somewhat at sometime somewhere, one of them will be right and we all hail how technical indicators are the blueprint, neglecting how many supports were broken, how ichimoku didn't do its job, how 61.8% fib didn't actually support, etc. Point being, actual monetary values is based on economic data and politics, retail forex is for the opportunists with good money/risk management. The technical side of thing is limited...
the trick (if there is one) is to know which ta is working and use it. that's my approach, ideally there should be confluence of ta.

1700 is ta setup on the weekly (from ma's not fibs), loads of wiggle room there. i'm not fixed on it.

you trade you want and i'll trade the way i want.

good luck.
In tea leaves we trust!
  • #1,202,425
  • Nov 5, 2021 10:43am Nov 5, 2021 10:43am
Quoting Pytta
{quote} Do u sincerely believe the actual currency values are based on how we read the charts
You and I will never know the internal workings of the FX market, hence the best thing we can hope for is a system that has ~50% win rate with a risk-reward ratio of at least 1:1.5, this would make money over time.
  • #1,202,426
  • Nov 5, 2021 10:44am Nov 5, 2021 10:44am
Quoting Mcbeaners
{quote} heading to 2.0 fib imo. {image}
looks like 2.272 fib was the taget, i never know for sure. just trade what i see.
In tea leaves we trust!
  • #1,202,427
  • Nov 5, 2021 10:50am Nov 5, 2021 10:50am
Quoting Mcbeaners
{quote} looks like 2.272 fib was the taget, i never know for sure. just trade what i see.
sellers showed up 1 and 2 forced the price drop.

buyers are still on control - happy to wait now
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In tea leaves we trust!
  • #1,202,428
  • Nov 5, 2021 10:52am Nov 5, 2021 10:52am
Quoting JauntyLoon
{quote} You and I will never know the internal workings of the FX market, hence the best thing we can hope for is a system that has ~50% win rate with a risk-reward ratio of at least 1:1.5, this would make money over time.
I haven't found such a system yet, BTW. Probably only casinos can do that
  • #1,202,429
  • Nov 5, 2021 10:55am Nov 5, 2021 10:55am
Ooh that looks bullish! Please stop
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  • #1,202,430
  • Nov 5, 2021 10:58am Nov 5, 2021 10:58am
not retracing imo. have just hang on long. imo.
In tea leaves we trust!
  • #1,202,431
  • Nov 5, 2021 11:00am Nov 5, 2021 11:00am
EURUSD UPDATE - CHART SPEAKS ---- still goin to plan
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  • #1,202,432
  • Nov 5, 2021 11:01am Nov 5, 2021 11:01am
Quoting Pytta
{quote} Do u sincerely believe the actual currency values are based on how we read the charts? Reason we have so many indicators is that somewhat at sometime somewhere, one of them will be right and we all hail how technical indicators are the blueprint, neglecting how many supports were broken, how ichimoku didn't do its job, how 61.8% fib didn't actually support, etc. Point being, actual monetary values is based on economic data and politics, retail forex is for the opportunists with good money/risk management. The technical side of thing is limited...
I tried to explain the reality to many people here, but they don't seem to understand the economy, macro and micro analysis. They also do not understand, that a trader does not trade buy or sell at the moment when there is news coming out like NFP and so on. You wait for the numbers if positive, you know where that currency is going against weaker currency, a trader buys and holds. Same scenario if one wants to sell. They are glued to the computer monitor, thinking that bunch of colored indicators are the way to go, and they keep losing, but keep coming back and feeding the market the money they worked hard for to earn. If it was that easy, everyone would just learn charts and would invest and win money. I personally use charts to draw supply/demand zones, and see how they will react there, usually on daily, weekly and monthly chart. I use Hourly chart if I want to open the trade same day and close it same day, to see where SL hunts occur so I can enter and go the opposite side. But that is why I use chart, entry, stop loss and where to take profit. That is all why the chart is there. But some people do not want to take a good advice. So you just watch them losing their money over, over,over,over and over again. Some people learn from their mistakes, I have. Some never learn. Trade safe.
  • #1,202,433
  • Nov 5, 2021 11:13am Nov 5, 2021 11:13am
Quoting MrBullBear
{quote} You quoted my post from September. That scenario might also happen today.
Correct. And yes it does. Enjoy your weekend.
every Saint has a past. Every Sinner has a Future
  • #1,202,434
  • Nov 5, 2021 11:13am Nov 5, 2021 11:13am
Quoting Techanalyst
{quote} I tried to explain the reality to many people here, but they don't seem to understand the economy, macro and micro analysis. They also do not understand, that a trader does not trade buy or sell at the moment when there is news coming out like NFP and so on. You wait for the numbers if positive, you know where that currency is going against weaker currency, a trader buys and holds. Same scenario if one wants to sell. They are glued to the computer monitor, thinking that bunch of colored indicators are the way to go, and they keep losing,...
Couldn't have said it better. There is no blueprint, nor is there a magic indicator. We trade the in-betweens of monetary values, which solely depend on external factors, NOT historical data. Historical data can help us with entry exits, but predict market movements of 200 and 300 pips based on a declined support??? Now that's nuts
  • #1,202,435
  • Nov 5, 2021 11:15am Nov 5, 2021 11:15am
Quoting Techanalyst
{quote} I tried to explain the reality to many people here, but they don't seem to understand the economy, macro and micro analysis. They also do not understand, that a trader does not trade buy or sell at the moment when there is news coming out like NFP and so on. You wait for the numbers if positive, you know where that currency is going against weaker currency, a trader buys and holds. Same scenario if one wants to sell. They are glued to the computer monitor, thinking that bunch of colored indicators are the way to go, and they keep losing,...
you guys are just talking to yourselves. you believe something, i believe something. bla bla bla. a true waste of time trying to convert someone. i see both sides well enough, but will ways try to trade what i see based on ta structure. its my process and i like it!

just like you like yours.

nuff said.

now talk amougst yourselves
In tea leaves we trust!
  • #1,202,436
  • Nov 5, 2021 11:16am Nov 5, 2021 11:16am
Quoting Techanalyst
{quote} If it was that easy, everyone would just learn charts and would invest and win money
Making money in the market is as simple as buying an S&P 500 index fund or ETF and holding it for a long time.

Why doesn't everyone just do that
  • #1,202,437
  • Nov 5, 2021 11:37am Nov 5, 2021 11:37am
Quoting MrBullBear
It is best to scalp 10 pips up and down till it trends.
Who says it's best? You clearly don't know what you are doing. And this dumb advice of yours suggests you are not a real trader but a gambler. I doubt you are consistently profitable.
Learn from your mistakes and march on.
  • #1,202,438
  • Nov 5, 2021 11:38am Nov 5, 2021 11:38am
is this thread eurusd toddler version?
  • #1,202,439
  • Nov 5, 2021 11:38am Nov 5, 2021 11:38am
Beware of MrBullBear's dumb money trading advice! MrBullBear is apparently not a real trader but a gambler.
Learn from your mistakes and march on.
  • #1,202,440
  • Nov 5, 2021 11:41am Nov 5, 2021 11:41am
Quoting shay14
is this thread eurusd toddler version?
Ata Turkoglu's EURUSD thread is better. At least he takes care of it and he bans the people who acts disrespective and tries to troll people.
You have to have an IQ higher than 90 to interact with this user.
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