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EURUSD

  • #1,215,541
  • Jun 2, 2022 1:01pm Jun 2, 2022 1:01pm
Well today was painful, but I only 'lost' ~Ģ50.
  • #1,215,542
  • Jun 2, 2022 1:14pm Jun 2, 2022 1:14pm
Quoting Js3mwtRc
{quote} Remember this envelop? This might be the end in EU upside! {image}

The signs were there that both USD was falling, and indices were raising, on daily chart. Trading 30 min charts proved very, very unprofitable today.
  • #1,215,543
  • Jun 2, 2022 2:35pm Jun 2, 2022 2:35pm
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.

No, not because it 'must' but because there is a greater probability that it will, with further modifications to enhance the probability (such as 200 MA and candle pattern). One only has to be right 4/10 times with R:R of 1 to 1.5.

Actually, there are cases where you would buy a breakout of the BB band. If it penetrates upper BB and price is above 200 MA, you go long. If price penetrates lower and price below 200 MA, you short.

I've been looking at charts constantly for coming up to four years and I have found very few 'systems' or methods that work reliably at all. BB has an advantage of being statistical (based on standard deviations). I am nearly convinced that no trading system can be long-term profitable unless you can quantify it so precisely that it can be modelled by a programming algorithm and backtested thousands of times.
  • #1,215,544
  • Jun 2, 2022 5:20pm Jun 2, 2022 5:20pm
Quoting JauntyLoon
{quote} No, not because it 'must' but because there is a greater probability that it will, with further modifications to enhance the probability (such as 200 MA and candle pattern). One only has to be right 4/10 times with R:R of 1 to 1.5. Actually, there are cases where you would buy a breakout of the BB band. If it penetrates upper BB and price is above 200 MA, you go long. If price penetrates lower and price below 200 MA, you short. I've been looking at charts constantly for coming up to four years and I have found very few 'systems' or methods...
With your permission, the indicators do not work in all cases as you have set because the charts can stretch almost indefinitely until you account is wiped out or SL hunted. It is a matter of buying power by the market caregiver. There are very few zones where the marketīs algo cannot trespass. In order to make money on a constant basis you need to find these zones always, one single mistake and you are nailed. This is after achieving top level otherwise the Algo will let you alone to make your own mistakes again and again. These sacred zones cannot be found by the conventional indicators. The easiest way to make money in the markets is as a position investor and mostly by luck. There are some persons that with no trading experience bought cheap, say like BTC at 1000 and sold at 50000. that will be the only profit they will make ever. The few individuals who make money have come up with their own system outside indicators.You just have to look around and see who is making big money, nobody and yet everyone is using the same TA. Backtesting will be what it is till you go in for real and the mentioned buying power will make sure your profit backtesting results dissapear.
POSTMASTER
  • #1,215,545
  • Jun 2, 2022 9:55pm Jun 2, 2022 9:55pm
Just my perspective of E/U 8H chart. Near convergence of 200 period MA with downward sloping trendline could be an important area to watch. Trade safe.
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  • #1,215,546
  • Jun 3, 2022 12:37am Jun 3, 2022 12:37am
NFP Friday, EU is continuing its upside and it might break towards the high of the week, Although I wait for a correction before any move up, 0700/16 should offer some support.

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Looking for profitable short term trades ...|
  • #1,215,547
  • Edited 2:20am Jun 3, 2022 2:01am | Edited 2:20am
Goodday my pupils.

Todayīs menu: EU down & usdcad up till further notice. Trade safe
POSTMASTER
  • #1,215,548
  • Jun 3, 2022 2:39am Jun 3, 2022 2:39am
Quoting littlefx1
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. {image}
Cool, nice to see someone chart action reaction lines, pretty rare. I like to have a confluence with a nice rejection such as is currently occurring. First target would be 1.0645 with sl at 1.0765.
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  • #1,215,549
  • Jun 3, 2022 3:11am Jun 3, 2022 3:11am
USD is in de cloud, but mebbe it will come out of de cloud, who no?
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  • #1,215,550
  • Jun 3, 2022 4:30am Jun 3, 2022 4:30am
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POSTMASTER
  • #1,215,551
  • Jun 3, 2022 4:41am Jun 3, 2022 4:41am
Short EU
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  • #1,215,552
  • Jun 3, 2022 5:00am Jun 3, 2022 5:00am
Quoting Leong
Short EU {image}
My sell stop 1.0744 triggered.
To free Gazans of Hamas, use whatever it takes.
  • #1,215,553
  • Jun 3, 2022 6:08am Jun 3, 2022 6:08am
With your permission i would like to refer to you as chico which is the same as lad in Spanish, good day my freind. Corporation 1 Robin 0. Lets see if i can draw the game and subsequently win it. Green pips to you and everyone

donīt take me serious, you know how mad iīve gone taking B112
POSTMASTER
  • #1,215,554
  • Jun 3, 2022 6:11am Jun 3, 2022 6:11am
As to you doctor, licenciado seems nice. If you disagree, thats fine for me.
POSTMASTER
  • #1,215,555
  • Jun 3, 2022 6:18am Jun 3, 2022 6:18am
Quoting Robinhood1
As to you doctor, licenciado seems nice. If you disagree, thats fine for me.
Call 'em as you see 'em, man.
To free Gazans of Hamas, use whatever it takes.
  • #1,215,556
  • Jun 3, 2022 6:29am Jun 3, 2022 6:29am
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POSTMASTER
  • #1,215,557
  • Jun 3, 2022 6:30am Jun 3, 2022 6:30am
Quoting DrDave
{quote} Call 'em as you see 'em, man.
Why do you think i am a man?
POSTMASTER
  • #1,215,558
  • Jun 3, 2022 7:14am Jun 3, 2022 7:14am
Quoting Js3mwtRc
{quote} 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!
The price reached the first target (middle of the envelope) now the next target is the lower band - more difficult, but EU can done it even lower!

NFP is the event risk.
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  • #1,215,559
  • Jun 3, 2022 7:22am Jun 3, 2022 7:22am
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  • #1,215,560
  • Jun 3, 2022 7:34am Jun 3, 2022 7:34am
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