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EURUSD only

  • #181,181
  • Oct 2, 2023 10:03am Oct 2, 2023 10:03am
Quoting Forexman1979
{quote} if the buying position hit it target >>> we can whene close buy open sell in the same area but must put SL for sell if price breakout 1.0625 {image}
Nice Trades .... now close sell position

Thus, we have achieved the target of buying and selling as well
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Volume is the soul of the market
  • #181,182
  • Oct 2, 2023 10:36am Oct 2, 2023 10:36am
Quoting Js3mwtRc
{quote} Risking some pips for good reason down here which probably will not gain but in a different situation price may stop and return up again with a 1.0670 or higher target. Below 1.0482, 1.0443 should come first before 1.0405.
I also took the risk of buying a little more at the close of the H1 candle, closed above the last bottom.
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At noon here...
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"No pain no gain"
  • #181,183
  • Oct 2, 2023 11:16am Oct 2, 2023 11:16am
I do not get why people go long?
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Perfection is the enemy of good enough!
  • #181,184
  • Oct 2, 2023 11:23am Oct 2, 2023 11:23am
Quoting MichaelSch
I do not get why people go long? {image}
I think the same...
  • #181,185
  • Oct 2, 2023 11:32am Oct 2, 2023 11:32am
Quoting JBRolim
{quote} I also took the risk of buying a little more at the close of the H1 candle, closed above the last bottom. {image} At noon here... {image}
If, your strategy says to do so, do it! - this is the moto. Time for some fun for me! Have a great noon!
Looking for profitable short term trades ...|
  • #181,186
  • Oct 2, 2023 11:43am Oct 2, 2023 11:43am
Quoting MichaelSch
I do not get why people go long? {image}
If you catch the bottom of a retrace or trend reversal, you can catch massive amounts of pips for days, especially if you are a weekly or monthly trader as opposed to a daily trader. If you look at the weekly chart, this is one of the longest bear trends without retracement in the last 5+ years.
  • #181,187
  • Oct 2, 2023 11:52am Oct 2, 2023 11:52am
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"No pain no gain"
  • #181,188
  • Oct 2, 2023 12:07pm Oct 2, 2023 12:07pm
Quoting MichaelSch
I do not get why people go long? {image}
Just advice: "What others do and why, should never be your business!", focusing on your own mission is best!

Kindest Regards
Focus only on what truly matters!
  • #181,189
  • Oct 2, 2023 12:20pm Oct 2, 2023 12:20pm
  •  Evt
  • | Joined Sep 2011 | Status: Professional Trader | 86 Posts
long @ 1.04917
Audentes fortuna iuvat
  • #181,190
  • Oct 2, 2023 12:33pm Oct 2, 2023 12:33pm
Quoting Aerist
{quote} If you catch the bottom of a retrace or trend reversal, you can catch massive amounts of pips for days, especially if you are a weekly or monthly trader as opposed to a daily trader. If you look at the weekly chart, this is one of the longest bear trends without retracement in the last 5+ years.
Good luck picking bottom and top all the time. How often will it happen? If i read here many have pick the bottom now severals days, but the bottom is wide now.
Perfection is the enemy of good enough!
  • #181,191
  • Oct 2, 2023 12:54pm Oct 2, 2023 12:54pm
Quoting MichaelSch
{quote} Good luck picking bottom and top all the time. How often will it happen? If i read here many have pick the bottom now severals days, but the bottom is wide now.
Pattern recognition. At some point in the near future, it will reverse or go sideways. I don't see anyone spiking it down yet to wipe out longs before putting in a long position yet so we might not be at the bottom of the trend. I have enough leverage to take the risk of being out for multiple months so I went long at 1.4948.

The question is what are the FEDs and ECB going for. Are they really willing to aim at parity in an attempt to adjust economies or is that accidental based on rate policies? I am going with the Corporate banking block that the goal is still ranging between 1.07-1.10.
  • #181,192
  • Oct 2, 2023 12:54pm Oct 2, 2023 12:54pm
Quoting Ata-Turkoglu
....and of course, not to forget that 666 thingy! {image}
Have you already done this sum in the table?
for me, result of 1.06629 closing of the last candle line of the H1 chart.
The shadow must be... ,
"No pain no gain"
  • #181,193
  • Oct 2, 2023 1:21pm Oct 2, 2023 1:21pm
Quoting Aerist
{quote} Pattern recognition. At some point in the near future, it will reverse or go sideways. I don't see anyone spiking it down yet to wipe out longs before putting in a long position yet so we might not be at the bottom of the trend. I have enough leverage to take the risk of being out for multiple months so I went long at 1.4948. The question is what are the FEDs and ECB going for. Are they really willing to aim at parity in an attempt to adjust economies or is that accidental based on rate policies? I am going with the Corporate banking block...
Trade what you see not what you think will be. From my view it is not time to go long. Not yet.
Perfection is the enemy of good enough!
  • #181,194
  • Oct 2, 2023 3:41pm Oct 2, 2023 3:41pm
Quoting MichaelSch
I do not get why people go long? {image}
So the market makers will have $ to pay you when you are short. Forex = Equal Sum Game.

If you are short EUR today the polite thing to say is, "thank you longs"

Forex is like playing the game CRAPS. Unlike other casino games CRAPS allows players to play pass or don't pass (you can even play both like hedging). The reason I bring this up is because I LOVE craps and Forex. 75-90% of people who play craps play from the pass side and there are LOT of people who don't like to short but only buy (Pass). Now, in craps if you are playing the don't pass (which I do 75% of the time) the other players at the table playing pass line begin to really resent the don't pass player because when the don't pass player wins the pass player loses. It can get really heated but for me it's all about the odds and having the edge.

Forex isn't much different, its about having the edge and for certain people who believe it will go up being long makes sense to them even if it doesn't make sense to you. Either way it's YOUR money and YOUR choice and when you begin to realize that other people don't have any effect on your decisions well it get easier.
  • #181,195
  • Oct 2, 2023 4:16pm Oct 2, 2023 4:16pm
The way things are currently means October will be a green month. Do not ask me how, but for those who bother to read my posts they'll know what I am talking about. Hint: monthly pivot is 1.0671. It's not been hit yet.

My personal trade would be to find a good spot in the 1.04xx area and buy for a hit of 1.0700 - 1.0800 area. This will be done with proper money management.
  • #181,196
  • Oct 2, 2023 4:30pm Oct 2, 2023 4:30pm
Quoting MichaelSch
{quote} Good luck picking bottom and top all the time. How often will it happen? If i read here many have pick the bottom now severals days, but the bottom is wide now.
You are right... When I had less experience I follow "buy low, sell high" approach, but you never know if current "low" is "really cheap and worth to buy" - just look @ DXY - it could easily go to 61 fibo (~ 109, triangle breakout target, we are in huge uptrend).

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Maybe it would be good idea to also write you net position, for example 1 lot long @ 1.05 and 10 lots shorts from other levels - it gives significant info how much you are sure about your long position.
  • #181,197
  • Oct 2, 2023 4:58pm Oct 2, 2023 4:58pm
Good evening, hope you're great. For tomorrow, I have 1.0503 as resistance, and 1.0458 as support, 1H charts;
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  • #181,198
  • Edited 8:12pm Oct 2, 2023 7:43pm | Edited 8:12pm
We have set a new low yesterday and I was wrong expecting a bounce.

It is now too low to short, strategy should still be selling the bounce (if happens) until the channel breaks

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Patience, Emotion Control and Discipline.
  • #181,199
  • Oct 2, 2023 9:20pm Oct 2, 2023 9:20pm
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Discouragement is the language of the devil. Results over hype.
  • #181,200
  • Oct 2, 2023 10:13pm Oct 2, 2023 10:13pm
Good Morning for all .....

The Price exists is near very important area so we must caution to take any decision for trades sell or buy ..... For me will wait for good & clear volume signal to determine where is market go
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Volume is the soul of the market
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