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  • #1,209,981
  • Feb 8, 2022 8:37am Feb 8, 2022 8:37am
Quoting Techanalyst
EURUSD is slowly griding downward. First stop 1.13. Trade safe. {image}
I see you really use RSI ????????????????????????


trades in funds?
then why the RSI?
  • #1,209,982
  • Feb 8, 2022 8:42am Feb 8, 2022 8:42am
Quoting tiborf71
{quote} I see you really use RSI ???????????????????????? trades in funds? then why the RSI?
Can't answer the question when I don't get it you say trades funds then why RSI??? What is that mean?????????????????????????????????????????????????????????
  • #1,209,983
  • Feb 8, 2022 8:47am Feb 8, 2022 8:47am
There's a rejection at the resistance level @1487 and price is barely showing bull moves. So a downtrend is possible, why?

Look at the marked PA ZONE. From the november the price is swinging top to bottom on and on. Well, this time we see the PA is outside of the ZONE and a bullish move is what MM's are looking for. Well, the resistance level failed one time and the PA got into the box even checked the lower end.

Both are possible but before going a big bullish fly, we gotta see a retrace into the PA_ZONE.
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Try the simple and make it for you ~
  • #1,209,984
  • Feb 8, 2022 8:47am Feb 8, 2022 8:47am
Quoting Techanalyst
{quote} Can't answer the question when I don't get it you say trades funds then why RSI??? What is that mean?????????????????????????????????????????????????????????
whoever trades the funds does not use a scaled indicator.
  • #1,209,985
  • Feb 8, 2022 8:48am Feb 8, 2022 8:48am
Lovely! I thought there are feuds on gbpusd only. Looks like there is one here too.
I am so happy I can light my day with some excitement.

My latest gbpusd chart!
Risk Management is of utmost importance!
  • #1,209,986
  • Edited 9:22am Feb 8, 2022 8:52am | Edited 9:22am
Quoting tiborf71
{quote} whoever trades the funds does not use a scaled indicator.
You seem to be so sure about that, do you trade for banks or financial institutions?

Either way you are wrong. I use RSI on daily chart just as tool. When it goes above 94 extreme or below 4 extreme, it can be a tool confirmation for example above 94 sell and below 4 to buy. But that all comes after fundamental analysis. Which means in this case on EURUSD fundamental is bearish, it has reached supply zone, RSI over 94 extreme, good spot to enter sell position. Same would be a buy with opposite analysis.

I am sure you have heard of Lex Van Dam who worked as institutinal professional trader, you also heard of Anton Kreil also worked as institutional professional trader, actually literally TRADERS, managing and trading money for banks and institutions. They all have some sort of indicators, they add positions and hold for months and years. Bank traders hold trades for a year, three years, five years and so on. So Indicators is just a tool nothing more nothing less.

https://en.wikipedia.org/wiki/Lex_van_Dam

https://twitter.com/lexvandam/status...15583475277824


https://www.youtube.com/c/lexvandamofficial/videos

https://www.youtube.com/c/InstituteofTrading/videos

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  • #1,209,987
  • Feb 8, 2022 9:00am Feb 8, 2022 9:00am
For me bearish momentum continues and my TP3 is 1350.
reason to keep TP3 on 1350 is because may be price go up after 50% go down.
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  • #1,209,988
  • Feb 8, 2022 9:29am Feb 8, 2022 9:29am
https://www.fxstreet.com/news/eur-us...k-202202081428

Quote
EUR/USD has tested the 1.14 level as rate speculation cools. Economists at Scotiabank expect the pair to plummet towards 1.10 once it becomes clearer that the European Central Bank will only marginally hike in 2022.

sell all rallies towards the March ECB meeting
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #1,209,989
  • Feb 8, 2022 10:37am Feb 8, 2022 10:37am
It bounced off from 1.1480 yet again. It seems like nothing can end this range.
  • #1,209,990
  • Feb 8, 2022 10:44am Feb 8, 2022 10:44am
Quoting james1254
It bounced off from 1.1480 yet again. It seems like nothing can end this range.
It will end eventually, but it may take a long time.
Learn from your mistakes and march on.
  • #1,209,991
  • Feb 8, 2022 11:16am Feb 8, 2022 11:16am
Quoting james1254
It bounced off from 1.1480 yet again. It seems like nothing can end this range.
Did you say range??
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  • #1,209,992
  • Feb 8, 2022 11:20am Feb 8, 2022 11:20am
This is where I focus (arrows)

5 Weekly ma is above 10 ma and offers some support. 20 ma (bolinger center) is where the price is sitting now and 50-100 ma's coincide with the 2 standard deviation of the bolinger band and the weekly pivot.

I think that if, it exceed 1.1500 and close strong above then 1.1600 will be a matter of time to achieve.

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  • #1,209,993
  • Feb 8, 2022 12:22pm Feb 8, 2022 12:22pm
Lovely!
EURUSD is moving in the right direction.
Risk Management is of utmost importance!
  • #1,209,994
  • Feb 8, 2022 12:55pm Feb 8, 2022 12:55pm
EURUSD is lagging again! I can see why people prefer to trade stocks over currencies.
Learn from your mistakes and march on.
  • #1,209,995
  • Edited 1:19pm Feb 8, 2022 1:06pm | Edited 1:19pm
Is it possible to pick tops and bottoms before price gets there?
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Learn from your mistakes and march on.
  • #1,209,996
  • Feb 8, 2022 2:05pm Feb 8, 2022 2:05pm
Gosh! EURUSD is the scalpers' darling.
Risk Management is of utmost importance!
  • #1,209,997
  • Feb 8, 2022 2:27pm Feb 8, 2022 2:27pm
Quoting fxpipper
{quote} You’re absolutely right, buddy. I stand by my belief (for now) that this daily supply zone will hold, and this pair will drop. Fundamentals support it as well. I don’t know if you’re a Wyckoff guy, but I’m fascinated by it. If it does head down in the next couple of days then it could look something like this distribution on the 1H: (I marked this up for fun yesterday but didn’t get a chance to post it. So far it’s doing the opposite. LOL but it’s still early). {image}
I gotta stop doing these projections, trying to be a hero. But the main point remains that EU is bearish, and we can see it (slowly) playing out.
  • #1,209,998
  • Feb 8, 2022 2:34pm Feb 8, 2022 2:34pm
Quoting fxpipper
{quote} I gotta stop doing these projections, trying to be a hero. But the main point remains that EU is bearish, and we can see it (slowly) playing out.
That happens to me too buddy. I can relate. But trading is a hard job especially the psychological part. You gotta be sure of yourself no matter what. So i guess it's the nature of this job to be a little angry and confident.
You have to have an IQ higher than 90 to interact with this user.
  • #1,209,999
  • Feb 8, 2022 7:24pm Feb 8, 2022 7:24pm
Quoting Nordling
{quote} That happens to me too buddy. I can relate. But trading is a hard job especially the psychological part. You gotta be sure of yourself no matter what. So i guess it's the nature of this job to be a little angry and confident.
“Emotion can be the enemy, if you give into your emotion, you lose yourself. You must be at one with your emotions, because the body always follows the mind.”

- Bruce Lee

in forex trading, you need to control your emotions to be successful
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #1,210,000
  • Feb 8, 2022 7:33pm Feb 8, 2022 7:33pm
Quoting ForexGoose
{quote} “Emotion can be the enemy, if you give into your emotion, you lose yourself. You must be at one with your emotions, because the body always follows the mind.” - Bruce Lee in forex trading, you need to control your emotions to be successful
I agree we have to stay logical as much as we can, however sometimes markets can be confusing and you may feel uncomfortable, your doubts can turn into a paranoia. We all go through that sometimes.

So i think that's when we need to use confidence and anger. Let me share a quote that i really like:

"The time to take counsel of your fears is before you make an important battle decision. That's the time to listen to every fear you can imagine! When you have collected all the facts and fears and made your decision, turn off all your fears and go ahead!"

George S. Patton
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