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EURUSD

  • #1,211,981
  • Mar 8, 2022 9:44am Mar 8, 2022 9:44am
Quoting here2there
Despite the fact that EURAUD is in a strong downtrend, there are other things to consider for a possible counter trend trade. EURAUD has bounced from Weekly Demand. {image} A closer look. {image}3 Bar Candle pattern forming on the Daily. {image}How the Daily candle closes will determine if I take a counter trend trade on this pair or not. For now, I am waiting.
What does it mean when the candle jumps a bit like in the second picture? All the rest are conected but that one skips down.
  • #1,211,982
  • Edited 2:31pm Mar 8, 2022 9:47am | Edited 2:31pm
Some traders dive into a trade when they see an opportunity. Others prefer waiting for confirmation. Neither one is wrong. It's up to the trader to determine which approach is best for his or her needs. It's not about good trader vs bad trader, but about protecting capital, and risk tolerance.
Learn from your mistakes and march on.
  • #1,211,983
  • Mar 8, 2022 9:56am Mar 8, 2022 9:56am
Quoting Sctay
{quote} What does it mean when the candle jumps a bit like in the second picture? All the rest are conected but that one skips down.
That's a good question! It's one I would like an answer for. MT4 sometimes displays candles in a funny way. Look at the following screenshot from TradingView. Same broker, same time frame, and no funny stuff. I am very strongly considering abandoning trading on MT4.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.png Size: 23 KB
Learn from your mistakes and march on.
  • #1,211,984
  • Mar 8, 2022 9:57am Mar 8, 2022 9:57am
Looks like it's starting to drop hard, but don't count the bulls out yet. It may find a demand zone to springboard off of. Probably around 1.0870.

Did a fib extension on this bull move, and it went to 100%, but the 1.618 target lines up nicely with a 15m imbalance (light purple box). May move my pending short higher to around 1.0952. If it keeps dropping then I've missed out.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_2022-03-08_10-53-21.png Size: 76 KB
  • #1,211,985
  • Mar 8, 2022 9:58am Mar 8, 2022 9:58am
https://sharevision.com/video/dLmmwe +2R
SDTAG
  • #1,211,986
  • Mar 8, 2022 10:12am Mar 8, 2022 10:12am
Quoting here2there
{quote} That's a good question! It's one I would like an answer for. MT4 sometimes displays candles in a funny way. Look at the following screenshot from TradingView. Same broker, same time frame, and no funny stuff. I am very strongly considering abandoning trading on MT4. {image}
Ah so it's a software issue. Makes sense since i'm using MT4 as well and I swee it every now and then. Unfortunately my broker only trades with MT4 so TradingView isn't an option for me. Even though it looks so much better to use. And entering a trade seems much more smooth going.
  • #1,211,987
  • Mar 8, 2022 10:31am Mar 8, 2022 10:31am
Quoting Sctay
{quote} Ah so it's a software issue. Makes sense since i'm using MT4 as well and I swee it every now and then. Unfortunately my broker only trades with MT4 so TradingView isn't an option for me. Even though it looks so much better to use. And entering a trade seems much more smooth going.
Tradingview is great - the absolute best - for marking up and analysis. Puts the old Q Charts to shame. I don’t use it to trade either. Entries are all done on MT4 desktop and mobile (and iPad). A lot of brokers are integrating into Tradingview, but not mine yet. I’ve done demo trading with an OANDA account trading right off Tradingview and it’s super easy and convenient. Wish all brokers would jump on board.
  • #1,211,988
  • Mar 8, 2022 10:36am Mar 8, 2022 10:36am
Quoting Sctay
{quote} Ah so it's a software issue. Makes sense since i'm using MT4 as well and I swee it every now and then. Unfortunately my broker only trades with MT4 so TradingView isn't an option for me. Even though it looks so much better to use. And entering a trade seems much more smooth going.
Alternatively, TradingView allows users to have a free account. If your broker is not on their list of brokers, you could use a different broker's data for analysis, and do your trading on MT4. In other words, you could display data on TradingView from Oanda or FXCM, for example, and use it for analysis. Or you could change your broker if you feel the data you're getting isn't right.
Learn from your mistakes and march on.
  • #1,211,989
  • Mar 8, 2022 11:41am Mar 8, 2022 11:41am
Quoting fxpipper
{quote} Tradingview is great - the absolute best - for marking up and analysis. Puts the old Q Charts to shame. I don’t use it to trade either. Entries are all done on MT4 desktop and mobile (and iPad). A lot of brokers are integrating into Tradingview, but not mine yet. I’ve done demo trading with an OANDA account trading right off Tradingview and it’s super easy and convenient. Wish all brokers would jump on board.
I trade exclusively with phone and TradingView is more mobile friendly than MT4. Chart annotations, indicators, alerts can be set on mobile TradingView but not much in MT4. just like you, I pull a chart on TV from another broker and trade on MT4.

If needing to do coding, only then a PC is needed. And PineScript is pretty easy too. Highly recommend
  • #1,211,990
  • Mar 8, 2022 12:34pm Mar 8, 2022 12:34pm
The pair bounced off from 1.0850 but I don't think this is the end of the depreciation.
  • #1,211,991
  • Mar 8, 2022 1:03pm Mar 8, 2022 1:03pm
I am afraid that this 1.09 58 might be the end of this upmove. . . .

  • #1,211,992
  • Mar 8, 2022 1:07pm Mar 8, 2022 1:07pm
out of eu shorts
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2022-03-08 at 19.06.43.png Size: 57 KB
  • #1,211,993
  • Mar 8, 2022 1:22pm Mar 8, 2022 1:22pm
Quoting here2there
{quote} That's a good question! It's one I would like an answer for. MT4 sometimes displays candles in a funny way. Look at the following screenshot from TradingView. Same broker, same time frame, and no funny stuff. I am very strongly considering abandoning trading on MT4. {image}
I am very strongly considering abandoning trading on MT4.
Wise consideration. MT4 is one of the worst charting platforms that is used extensively.
To free Gazans of Hamas, use whatever it takes.
  • #1,211,994
  • Mar 8, 2022 2:14pm Mar 8, 2022 2:14pm
UTAD aka topside liquidity grab was made, as expected. Beat my projection by a few hours. Now dropping. I am short from 1.0952. Targeting low 1.08s. Won't get there today obviously, probably tomorrow.

It's possible it might rise again overnight to test the UTAD, or go partway up to form a last point of supply (LPSY), or a multiple of these. Will add new shorts if/when that happens. If I'm awake.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_2022-03-08_15-12-08.png Size: 57 KB
  • #1,211,995
  • Mar 8, 2022 4:01pm Mar 8, 2022 4:01pm
It's amazing how the atmosphere has changed in here! I want to thank everyone for sharing your trading ideas, and for keeping the thread constructive!
Learn from your mistakes and march on.
  • #1,211,996
  • Mar 8, 2022 4:20pm Mar 8, 2022 4:20pm
3 Bar Reversal Pattern for counter trend trade! The plan is to open a buy position when the spread is more reasonable (it's too high now), and ride it up to the supply zone at 55151.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.png Size: 33 KB
Learn from your mistakes and march on.
  • #1,211,997
  • Mar 8, 2022 5:20pm Mar 8, 2022 5:20pm
Quoting jmn5611
{quote} https://www.youtube.com/watch?v=xguam0TKMw8 This might be interesting to you.
This video deserves to be watched -- thank you @jmn5611...
  • #1,211,998
  • Mar 8, 2022 5:21pm Mar 8, 2022 5:21pm
Quoting here2there
3 Bar Reversal Pattern for counter-trend trade! The plan is to open a buy position when the spread is more reasonable (it's too high now), and ride it up to the supply zone at 55151. {image}
If you trusting the candles patterns now, you should have been on all the Pin Bars yesterday...

It takes a lot for me to IGNORE you, but you can try.
  • #1,211,999
  • Mar 8, 2022 5:25pm Mar 8, 2022 5:25pm
Quoting Erebus
{quote} If you trusting the candles patterns now, you should have been on all the Pin Bars yesterday...
Even when it comes to pin bars, I am cautious.
Learn from your mistakes and march on.
  • #1,212,000
  • Mar 8, 2022 6:24pm Mar 8, 2022 6:24pm
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 169 KB

Longed here. . . .

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