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  • #1,215,521
  • Jun 2, 2022 8:37am Jun 2, 2022 8:37am
Quoting Js3mwtRc
{quote} If, you compare the widening of the bands its not the same, although the upper band is still pointing up. I used heiken Ashi candle to mimic your chart, looks like a short opportunity. Now ADP is near! {image}

Indices are tanking at the U.S. open but strangely the Euro is not tanking yet? We must wait for a completed red candle before shorting (per this system), with a stop above the upper BB.
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  • #1,215,522
  • Jun 2, 2022 8:57am Jun 2, 2022 8:57am
Quoting Nordling
{quote} I couldn't have said better Not only their capital but also their greed leads to that point too. Dream of making 5-10% every day. 4 years ago i started as a daytrader too but my trading evolved to this as i learned. Scalping/daytrading is way more stressful and harder than swing/position trading.

The most stressful thing for me is buying 1000 shares in a company (with my savings, not leverage) and then seeing it gap down $10 or more the next day.
  • #1,215,523
  • Jun 2, 2022 9:05am Jun 2, 2022 9:05am
Well, the HA candle turned red but only just. EUR/USD is non-trending AFAIC on 30 mins timeframe, look elsewhere for trades (e.g. long USD/JPY, short EUR/CAD)
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  • #1,215,524
  • Jun 2, 2022 9:43am Jun 2, 2022 9:43am
Quoting JauntyLoon
USA has to airlift baby milk but throws away $56 billion on defending hopeless cause Ukraine
USA is at war with Russia. So spending 56 or 560 billions$ cannot be characterized as hopeless cause . . . It s the war , man . . .

  • #1,215,525
  • Jun 2, 2022 9:45am Jun 2, 2022 9:45am
Quoting JauntyLoon
{quote} Indices are tanking at the U.S. open but strangely the Euro is not tanking yet? We must wait for a completed red candle before shorting (per this system), with a stop above the upper BB. {image}
Its bulls day! News didn't helped the Dollar too.
Looking for profitable short term trades ...|
  • #1,215,526
  • Jun 2, 2022 10:01am Jun 2, 2022 10:01am
Quoting JauntyLoon
{quote} The most stressful thing for me is buying 1000 shares in a company (with my savings, not leverage) and then seeing it gap down $10 or more the next day.
I understand you very well but honestly it depends on the stock market trends and the stock itself. For example US is almost in a recession right now. I wouldn't involve in the stock market or even real estate now. Why would i, that's just bear market.

2020 and 2021 were great for these assets though, it was a very nice bull market. It was boosted by the FED's inflationary moves after all.

Of course the next problem is picking the right stocks, i would say stick with the popular, conservative ones if you want to be sure about the safety of your savings. Like Coca-Cola, Microsoft etc. Blue chips in general. Maybe you can try risky but bright ones with 10-20% of your portfolio. Not right now though, only when the FED remains inflationary.
You have to have an IQ higher than 90 to interact with this user.
  • #1,215,527
  • Jun 2, 2022 10:01am Jun 2, 2022 10:01am
Quoting Nordling
{quote} I couldn't have said better Not only their capital but also their greed leads to that point too. Dream of making 5-10% every day. 4 years ago i started as a daytrader too but my trading evolved to this as i learned. Scalping/daytrading is way more stressful and harder than swing/position trading.
99% fail scalping as technology is smarter than 99% population. As a position trader you can make money but consider 6 digit account. If that is your case good luck.
POSTMASTER
  • #1,215,528
  • Jun 2, 2022 10:05am Jun 2, 2022 10:05am
Seems that today was dominated by oil concerns - USD is down massively against CAD. EUR is also down vs CAD and USD is up vs JPY (as is CAD vs JPY)
  • #1,215,529
  • Jun 2, 2022 10:15am Jun 2, 2022 10:15am
Quoting JauntyLoon
Seems that today was dominated by oil concerns - USD is down massively against CAD. EUR is also down vs CAD and USD is up vs JPY (as is CAD vs JPY)
Yes Opec is inflationary for the EU and crude oil inventiories had a huge drop!

News couldn't help the dollar again!

It could be that Oil is strong related to USD latelly, but also I read that the market priced in 0,50% rate hike for the ECB in December. This last is more convincing for the bulls and the price of Oil that went up created this mess!
Looking for profitable short term trades ...|
  • #1,215,530
  • Jun 2, 2022 10:24am Jun 2, 2022 10:24am
Quoting Js3mwtRc
{quote} Yes Opec is inflationary for the EU and crude oil inventiories had a huge drop! News couldn't help the dollar again!

The 30 minute timeframe on the indices is beyond treacherous right now.

Once again I am reminded that higher timeframes need to be given greater consideration first.
  • #1,215,531
  • Jun 2, 2022 10:30am Jun 2, 2022 10:30am
Quoting JauntyLoon
{quote} The 30 minute timeframe on the indices is beyond treacherous right now. Once again I am reminded that higher timeframes need to be given greater consideration first.
Remember this envelop? This might be the end in EU upside!
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Looking for profitable short term trades ...|
  • #1,215,532
  • Jun 2, 2022 10:44am Jun 2, 2022 10:44am
my view
just on R...
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Trendlines H1,H4, SMC
  • #1,215,533
  • Jun 2, 2022 11:06am Jun 2, 2022 11:06am
Quoting JauntyLoon
{quote} The 30 minute timeframe on the indices is beyond treacherous right now. Once again I am reminded that higher timeframes need to be given greater consideration first.
The smaller TFs that went into downtrends could not sustain them past m8. The ensuing up move has propagated through m256 and is likely to have m512 confirmed up at the close in 7 hours.

So, back to evaluating small TFs as they repeat the attempts to go into down trends.
To free Gazans of Hamas, use whatever it takes.
  • #1,215,534
  • Jun 2, 2022 11:12am Jun 2, 2022 11:12am
Quoting Js3mwtRc
{quote} Remember this envelop? This might be the end in EU upside! {image}
Your chart is for m15 TF. Do you mean "the end" to apply to this TF (and smaller), or do you you intend for this to apply to even larger TFs? Until at a minimum there is a confirmed 3-bar swing high on a specified TF, extremely little chance for that TF to have yet ended going up.
To free Gazans of Hamas, use whatever it takes.
  • #1,215,535
  • Jun 2, 2022 11:19am Jun 2, 2022 11:19am
Quoting DrDave
{quote} Your chart is for m15 TF. Do you mean "the end" to apply to this TF (and smaller), or do you you intend for this to apply to even larger TFs? Until at a minimum there is a confirmed 3-bar swing high on a specified TF, extremely little chance for that TF to have yet ended going up.
15m and 1H have ended the cycle - touched the upper band, it's only the 30min tmf that I am missing yet.

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Looking for profitable short term trades ...|
  • #1,215,536
  • Jun 2, 2022 11:34am Jun 2, 2022 11:34am
Quoting Js3mwtRc
{quote} 15m and 1H have ended the cycle - touched the upper band, it's only the 30min tmf that I am missing yet. {image}
OK. But if the largest TF that has ended the up cycle is H1, then every TF below it MUST have ended as well. No other possibility exists. So no matter how m30 looks on your display, if you are certain that H1 has ended, then m30 has also ended.

Similarly, if you are certain that m30 has NOT ended, then it is impossible for H1 to have ended, no matter what it looks like on H1.
To free Gazans of Hamas, use whatever it takes.
  • #1,215,537
  • Jun 2, 2022 11:38am Jun 2, 2022 11:38am
Quoting Js3mwtRc
{quote} 15m and 1H have ended the cycle - touched the upper band, it's only the 30min tmf that I am missing yet. {image}
Note that I have seen similar logic to this in the TMA thread when price breaches the top band. Several people started selling because price MUST drop after the breach. I cautioned that there was no confirmation of a down turn yet. And price continued further up a considerable amount, hitting stops of some, launching others into their recovery EA.

The point is, those lines are just markers of PROBABILITY levels, not some kind of barrier that will be respected.
To free Gazans of Hamas, use whatever it takes.
  • #1,215,538
  • Jun 2, 2022 11:44am Jun 2, 2022 11:44am
Quoting DrDave
{quote} Note that I have seen similar logic to this in the TMA thread when price breaches the top band. Several people started selling because price MUST drop after the breach. I cautioned that there was no confirmation of a down turn yet. And price continued further up a considerable amount, hitting stops of some, launching others into their recovery EA. The point is, those lines are just markers of PROBABILITY levels, not some kind of barrier that will be respected.
I know DrDave, I watch forex for the last 9 + years, envelops and bollinger bands where almost the first strategies I looked into.
Now that the 30min cycle is over I should drop to 15m for a correction, but its late for me and I have to continue tomorrow, if until then the price doesn't drop to the center of the 15m band, or lower!
Looking for profitable short term trades ...|
  • #1,215,539
  • Jun 2, 2022 11:56am Jun 2, 2022 11:56am
If E/U and G/U are to give back any of these gains, it is probably most likely to start happening around this area (if at all). DXY is currently testing the bottom of yesterdays large bullish candle. Could get some buying around this area. Although certainly possible, I think the less likely scenario is for the dollar to continue plunging throughout the rest of the session. A rebound seems more likely at this point.
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  • #1,215,540
  • Jun 2, 2022 12:31pm Jun 2, 2022 12:31pm
With the use of action and reaction lines we have seen price respect all the levels, we went bullish as it got to the 38.2 fib level. It has went from the pitchfork's outer line to the center line. For those of us that went long, this would be a good place to close profits due to the fact that price has reached a supply level and its bullish run seems haulted. DXY seems to be at a demand zone so I would recommend closing positions.
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