Dared a scalper-sell at 1.0543... Closed with +10 pips.. Back to waiting...
hard to resist -
In my novice case this often ends up turning good money into bad - lol - still learning...
Live long and prosper with green pips! 
- #164,802
- Jan 6, 2023 6:00am Jan 6, 2023 6:00am
- Joined May 2014 | Status: Full Time Trader | 27,148 Posts
ATA! I would like to say that your stance on news is very apt, I have been using news and I always watch chart along, I discovered that irrespective of the outcome of data, the flow still follow what the chart is sayi, Just before the news dollar is kissing 200MA on H4 and RSI building hidden divergence, which made me think that it will fall from there
Remember my H4 chart... but also be aware of macd divergence..
*Later.... many hours and maybe days later, we could have a W formed around 1.0744 as a bearish shark! But later! Forget that for now!
Best wishes
Focus only on what truly matters!
- #164,808
- Jan 6, 2023 6:10am Jan 6, 2023 6:10am
- Joined Sep 2020 | Status: Trader | 8,702 Posts
Not so big fireworks for the bulls, the numbers are less from the previous release/s but better than the forecast and I see a +0.20% in unemplyment also thats good for the FED to keep raising rates. Mixed results = range trading & carefull with profit taking Friday, its oversold!
Ranging nature of the last weeks, already in the lows prior to big news, and as we all know ranging trading=mainly buylow sell high opportunities till the back breaks at last
+ big news again, indecision universe time ! + significant support levels + it was a coin toss for me, again.Personally, I needed lower reaches into November prices and December lowest shadows to sit this one out, so
.. This too significant level at the same time as big news comes has me take different care of my last week'saggressive now long-term shorts, ranging from as high as{quote} It forces me to hedge all my shorts from here 0498...
0570s would be right back into our eternal 20+ days last month's Ranging Heaven!
Bloody hell. 0530s island, again !!! The year 2023's most visited vacation spot ! Like I shared in detail earlier today, a lot depends on this level for me !!!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
- #164,810
- Jan 6, 2023 6:16am Jan 6, 2023 6:16am
- Joined May 2014 | Status: Full Time Trader | 27,148 Posts
Focus only on what truly matters!
- #164,812
- Jan 6, 2023 6:34am Jan 6, 2023 6:34am
- Joined Sep 2020 | Status: Trader | 8,702 Posts
Little reminder:{quote}Again action time ! So significant level for me (0530s).Second time the charm?{quote}
The genie was trapped when I made my previous wish, now she is freed, lets go!
{image}
If I don't mention SL and/or TP = longer-term setup possibly in the works!
- #164,813
- Jan 6, 2023 6:43am Jan 6, 2023 6:43am
- Joined Sep 2020 | Status: Trader | 8,702 Posts
If I don't mention SL and/or TP = longer-term setup possibly in the works!
{quote} While licking my wounds, but trying to learn: The news did not seem to warrant a bullish move. How did this happen? Can anyone please shed some light on this as I am still confused - Appreciate an explanation for my understanding -
But I've realized that the ''Actual'' is actually lower than the ''previous''. I'm here wondering if that has anything to do with it.
I can be wrong but what the heck? we are all here to learn.
"Risks Are Better Than Regrets"
- #164,815
- Jan 6, 2023 6:45am Jan 6, 2023 6:45am
- Joined Sep 2020 | Status: Trader | 8,702 Posts
If I don't mention SL and/or TP = longer-term setup possibly in the works!
- #164,818
- Jan 6, 2023 6:51am Jan 6, 2023 6:51am
- Joined May 2014 | Status: Full Time Trader | 27,148 Posts
Focus only on what truly matters!
- #164,819
- Jan 6, 2023 6:51am Jan 6, 2023 6:51am
- Joined Oct 2008 | Status: Price made me do it. (0.0) | 1,312 Posts
{quote} While licking my wounds, but trying to learn: The news did not seem to warrant a bullish move. How did this happen? Can anyone please shed some light on this as i am still confused - Appreciate an explanation for my understanding -
There are two main thoughts on price movement.
1. Total Random Walk: Price has no reason for doing anything.
2. Price Manipulation: Markets are completely controlled by large corporate entities that move price at their whim and for their benefit.
Each trader tends to lean toward one explanation or the other and tailors their trading style accordingly.
These are the extremes. There is a whole spectrum in between.