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EURUSD only

  • #142,281
  • Nov 16, 2021 11:31am Nov 16, 2021 11:31am
Quoting mtako
Closings under 1440 now, could become resistance. Another two complete 15m cdls under 1440 and there could be a nice in momentum trade with dynamic stops around 22 SL 30 TP. Let me dream ! I do have a new sell stop 1.14357 but it expires in 20m...

TP updated to 1.13082 mmmm I highly doubt, but following the momentum !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #142,282
  • Nov 16, 2021 11:33am Nov 16, 2021 11:33am
Quoting nic9man
@Ata - just out of curiosity - would you also have bought during the last days if you had not been long already? Or does a preexisting position prevent you from trading the direction you would otherwise have traded? Why was this not a rinse and repeat situation?
I probably would.. but I must note: during this long lasting drop I also have doubled down (i.e.: selling with twice the lot size of your open long orders) from time to time to soften my drawdown.. Since the goal is to manage the drawdown, we do whatever we can to keep it going.. including: not doing anything, whenever necessary!

*It was not a rinse and repeat situation because I sometimes trade other ideas as well.. This one was strongly related with my weekly 1-2-3 candle theory and it challenges me real harshly since I decided to try it out..
Focus only on what truly matters!
  • #142,283
  • Nov 16, 2021 11:39am Nov 16, 2021 11:39am
Quoting Ata-Turkoglu
{quote} I probably would.. but I must note: during this long lasting drop I also have doubled down (i.e.: selling with twice the lot size of your open long orders) from time to time to soften my drawdown.. Since the goal is to manage the drawdown, we do whatever we can to keep it going.. including: not doing anything, whenever necessary!
I did that yesterday for 30 pips. However I am so afraid that when doing that, EUR will bottom and then reverse. Then I would be hit with losses on the way up. The EUR is so oversold on multiple time frames now
  • #142,284
  • Nov 16, 2021 11:40am Nov 16, 2021 11:40am
1320 seems like a good buy
  • #142,285
  • Nov 16, 2021 11:43am Nov 16, 2021 11:43am
Inside upcoming Asian session or somewhere inside tomorrow's London session we should see a bottom forming.. No rush! First we must see that 1.1316 begins to support!
Focus only on what truly matters!
  • #142,286
  • Nov 16, 2021 2:46pm Nov 16, 2021 2:46pm
Next target for Euro 1.1225...1.1290 could provide for a minor bounce.
  • #142,287
  • Nov 16, 2021 3:08pm Nov 16, 2021 3:08pm
Quoting mtako
{quote} TP updated to 1.13082 mmmm I highly doubt, but following the momentum !
Missed by 0.4 pip, but it may not be over as this thing will probably be falling for ages. Very impressive anyway!
  • #142,288
  • Edited 4:41pm Nov 16, 2021 3:45pm | Edited 4:41pm
Quoting fafnir
{quote} I did that yesterday for 30 pips. However I am so afraid that when doing that, EUR will bottom and then reverse. Then I would be hit with losses on the way up. The EUR is so oversold on multiple time frames now
Well, the uncertainty is already becoming terrible even though I was succesful the past week. ECB print money like silly and it just doesn't feel good any longer. I hope there will be a nice bounce before we get to the ultimate support... 1.0340.
  • #142,289
  • Nov 16, 2021 3:59pm Nov 16, 2021 3:59pm
Quoting John4y
Downwards Breakout-Out not yet completed after 78.6 Fibo break with strong support around 1.11159 on Weekly basis {image}
Downwards Breakout-Out confirmed with TP around support 1.11159 / 1.07926 and 1.06069
Attached Image (click to enlarge)
Click to Enlarge Name: f7195725fe3584c93d6aaa0b992ffa31.png Size: 67 KB
  • #142,290
  • Nov 16, 2021 5:22pm Nov 16, 2021 5:22pm
lot's of noise on 1 min chart, long/shorts ratio has changed significantly, could this be reversal time (early stage)?
https://www.dailyfx.com/eur-usd
Attached Image (click to enlarge)
Click to Enlarge Name: 1min chart.PNG Size: 105 KB
  • #142,291
  • Edited 6:33pm Nov 16, 2021 6:02pm | Edited 6:33pm
Quoting fxskipper
lot's of noise on 1 min chart, long/shorts ratio has changed significantly, could this be reversal time (early stage)? https://www.dailyfx.com/eur-usd {image}
IG just is a retail broker, reflecting their internal orderbook
The whole 'Retail' sector only represent a small part of the Forex (that's called the "Dumb money" part)
Smart money however is ruling the markets, at this time without important conteraction a reversal still is far away...
As long the 10-year Yield keeps rising the Dollar will go on... and impact EURUSD price setting
A reversal of the 10-year Yield will induce a change of the EURUSD
That's where the smart money drives out the dumb money
  • #142,292
  • Nov 16, 2021 6:25pm Nov 16, 2021 6:25pm
5min chart just turned positive !
Oanda long/short ratio 60/40
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-5min.PNG Size: 115 KB
  • #142,293
  • Nov 16, 2021 9:33pm Nov 16, 2021 9:33pm
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_2021-11-16_21-28-56.png Size: 165 KB
its just a script. join the club
  • #142,294
  • Nov 16, 2021 9:43pm Nov 16, 2021 9:43pm
Interesting 40 pip drop in 1 minute, is this the final stop hunt bulls have been waiting for?
  • #142,295
  • Nov 16, 2021 9:44pm Nov 16, 2021 9:44pm
Hehehe 1.13 hit.
Make it Green
  • #142,296
  • Nov 16, 2021 9:50pm Nov 16, 2021 9:50pm
Quoting fxcontest
No Bull This Week, Down 200 pips
Wow fulfilled
Holy Betting Grail strategy
  • #142,297
  • Nov 16, 2021 9:50pm Nov 16, 2021 9:50pm
Quoting Kyuu
Interesting 40 pip drop in 1 minute, is this the final stop hunt bulls have been waiting for?
Lol, I really hope so, I was so so so very tempted to sell on this third wave down at 1.131 but decided against it,
  • #142,298
  • Nov 16, 2021 9:51pm Nov 16, 2021 9:51pm
Keep selling guys and move those stops.

Next target 1.09 maybe.
What did I say earlier.

Stay green
  • #142,299
  • Nov 16, 2021 9:53pm Nov 16, 2021 9:53pm
1.07/ 1.06 could be the next target. Will be looking to long at that level. My 1.13 hit.All short closed for now.
Make it Green
  • #142,300
  • Nov 16, 2021 9:54pm Nov 16, 2021 9:54pm
Whuizz..thats a quick drop
Don't think how to save more, think how to make more money!
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