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  • #191,321
  • Mar 8, 2024 8:35am Mar 8, 2024 8:35am
Quoting pedro319
{quote} After these live experiences your trading will never be the same, you are getting proper training and because of your personality I believe you can make it!! Fx Bible "Don't try to come up with new systems and indicators, everything has been invented already, just use something that works" Chp 21 v6
Stop Procrastinating
  • #191,322
  • Mar 8, 2024 8:42am Mar 8, 2024 8:42am
A close above 1.098 would be a very strong sign, breaking the trendline of May'21 and Jul'23 highs.
1.098-.1. area looks unattainable for now though, to much resistance there - at least on first try. Lets see how this plays out.
D1 Chart EURUSD
Attached Image (click to enlarge)
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DXY on the other hand could still give up a bit but probably not w/o retracement
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 158 KB
Don't follow my trades. Challenge my Analysis!
  • #191,323
  • Mar 8, 2024 8:45am Mar 8, 2024 8:45am
Quoting Ata-Turkoglu
Lovely end of week with exciting pa... Pockets filled... Before I go, quickly checking weekly situation and my verdict is: Bulls reaching and ramming the parallel trendline! (The main reason why I was confident not to expect significant highs. Resistance areas coming from weekly must be taken serious!) Next week: choppy choppy choppy and waiting period to finalize this quick rise before we go down again. Calling it a day and week folks... Peace out... {image}
So are you saying 1.09550 was serious resistance? Or the area above it. Cause I see its having a hard time getting past 1.09550
  • #191,324
  • Mar 8, 2024 8:50am Mar 8, 2024 8:50am
Quoting fxcontest
{quote} edited and adjusted
Stopout
Long 0938 - 0943, TP below 1022
Holy Betting Grail strategy
  • #191,325
  • Mar 8, 2024 8:53am Mar 8, 2024 8:53am
Quoting Brainafk
A close above 1.098 would be a very strong sign, breaking the trendline of May'21 and Jul'23 highs. 1.098-.1. area looks unattainable for now though, to much resistance there - at least on first try. Lets see how this plays out. D1 Chart EURUSD{image} DXY on the other hand could still give up a bit but probably not w/o retracement {image}

Can't help but notice inverted head-and-shoulder pattern on D1 EURUSD and head-and-shoulder pattern on D1 DXY.
Truth is constant
  • #191,326
  • Mar 8, 2024 9:07am Mar 8, 2024 9:07am
Quoting vinesh1
{quote} So are you saying 1.09550 was serious resistance? Or the area above it. Cause I see its having a hard time getting past 1.09550
Yes, for this week the touchpoint was roughly at ~1.0955/65... For the next week, the potential touchpoint sits roughly at ~1.0990/95.
Focus only on what truly matters!
  • #191,327
  • Mar 8, 2024 9:10am Mar 8, 2024 9:10am
Thank u guys for answering my question. I start liking this group. Have a nice weekend my friends.
  • #191,328
  • Mar 8, 2024 9:15am Mar 8, 2024 9:15am
Quoting anilamil
{quote}and the revision is little bit late.... i wonder if USD will start strengthing for few hours because this revision
No, but we have hitted a wall of orders! The numbers are still strong for the fed to keep going until June with interest rates at the peak, so bulls are risking a serious drop!
Looking for profitable short term trades ...|
  • #191,329
  • Edited 10:32am Mar 8, 2024 9:18am | Edited 10:32am
GM traders, hope most of us had a chance to bank some profits!!!

This pair finally got some traction after a few dolled days but big $$ came in and now there's 6 straight days of positive gains and perhaps a technical pullback could be in the cards for the next couple of days till more economic data comes in order to support and continue it's march forward.

Keep an eye on DXY as the dollar finds itself at a critical point that can decide it's path for the next 3 months or so. Just to point things out, the stock market needs some cooling and if that takes place the Dollar can be bid as it's inverse correlation usually takes place. Also there's the fact that the Europe zone it's not doing so hot and it's outlook is not encouraging to say the least.

In the US, on election year there's always a period where the markets tumble according to history usually 2nd or 3rd quarter and then it rips towards year end to finish with gains but the run so far this year has been amazing and if it pulls back so will the $$.

On the technical side of things EURUSD weekly chart looks inviting with a promising and inviting perspective to continue it's march forward. It is now at the opening range of the year but just as you can observe on your D charts it stayed in a range for a few days before it went down, now it's right back to the same spot and it might range to properly form that right shoulder and invite more players to help it continue go forward.

I really hope nobody got blown out like it was mentioned a few post back and if it did only 2 things make you do that "NO STOPS AND OVERLEVEARGING"
Fix that shit and act like a professional, create a good track record with trades you can be proud of and show to yourself first you can be a trader with consistency and good management. Anyways good luck to you all and keep on learning and banking pips.
  • #191,330
  • Mar 8, 2024 9:19am Mar 8, 2024 9:19am
Quoting daniel2023
We all got negative capital aren't we? including Ata
Attached Image (click to enlarge)
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Focus only on what truly matters!
  • #191,331
  • Mar 8, 2024 9:23am Mar 8, 2024 9:23am
Quoting fxcontest
{quote} Stopout Long 0938 - 0943, TP below 1022
TP and trailing hit
Holy Betting Grail strategy
  • #191,332
  • Mar 8, 2024 9:23am Mar 8, 2024 9:23am
Close below 0940 and 0928, Short again
Holy Betting Grail strategy
  • #191,333
  • Mar 8, 2024 9:24am Mar 8, 2024 9:24am
These two are my first targets if it keeps 1.1000
Attached Image (click to enlarge)
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Looking for profitable short term trades ...|
  • #191,334
  • Mar 8, 2024 9:49am Mar 8, 2024 9:49am
Also keep an eye on the (1.0948)
If it breaks so we will see that (1.0928)

Let's see!
Stop Procrastinating
  • #191,335
  • Mar 8, 2024 9:54am Mar 8, 2024 9:54am
Quoting blownac
Hi I am new to forex trading and took wrong trades in EUR/USD in now big loss position sell at 1.0800 and now did hedging at 1.09655, have any guess it will go above 1.09655 and any possibility to go back down to 1.0800.
Considering long enough time im sure we will revisit the 1.08 levels again. The question is can you stay liquid long enough to not get a margin call?
My advise, book the losses, considere it an investment in education, open a demo account and treat it as real money. As soon as you make consistent gains there you can start with small lots and real money.

Believe me - we have all been there. Dont throw good money after bad money.

Welcome to EURUSD and stay positive!
Don't follow my trades. Challenge my Analysis!
  • #191,336
  • Mar 8, 2024 10:06am Mar 8, 2024 10:06am
Quoting blownac
Hi I am new to forex trading and took wrong trades in EUR/USD in now big loss position sell at 1.0800 and now did hedging at 1.09655, have any guess it will go above 1.09655 and any possibility to go back down to 1.0800.
Before you get into trading you should get the basics...
You want to check whether the signal is correct or not according to your analysis...
You should think first before taking any signal Is it right or not and You should have placed a stop loss...
Regarding 1.0800 I can't say anything for now Ata-Turkoglu pedro319 Js3mwtRc can tell you that...

Stay safe my brother!
Stop Procrastinating
  • #191,337
  • Mar 8, 2024 10:23am Mar 8, 2024 10:23am
Eurusd stopped at the edge. Most probably we'll stay in the channel, but a break below the lower edge of it will target first 1.0796 swing low at the daily graph. Above todays high the bears may try to bring it down again and inside the channel, 1.1000/18 is hard resistance.
Attached Image (click to enlarge)
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Looking for profitable short term trades ...|
  • #191,338
  • Mar 8, 2024 10:31am Mar 8, 2024 10:31am
Quoting blownac
thanks for reply, first I did in demo account with FXCM for 6 months, I hope mind is free while taking trades and most of the time I could make $10k to 20k. That's why I now started live account but in live psychology of human being is very different. Now I am watching my self and trying to focus on small trades but I don't know when I come out of these trades, may take a month.
I would take the advice of Brainafk and also add that I did the same when I was new trader, but lost my account, because I didn't use stop loss. I had a record on my trades without not only one time of loss, but one was enough. Then I started to study trading for many years until finally find something. Its not easy to create a system and 6 months is not big time, you need at least 10.000 of hours screen time and many patience to achieve success in forex trading. Wish you the best of luck!
Looking for profitable short term trades ...|
  • #191,339
  • Mar 8, 2024 10:37am Mar 8, 2024 10:37am
Quoting anilamil
interesting, the golden cross ema 50 and 200 are still alive on track... I can see with fibo , 1.0915 are next target
price move higher than i expected , now D1 will start to reach ema 10 for another buying because golden cross ema 50 200 still alive maybe.... and with FED rates cut rumors , perhaps this golden cross D1 will long last for few months...
  • #191,340
  • Mar 8, 2024 10:40am Mar 8, 2024 10:40am
Quoting Js3mwtRc
{quote} I would take the advice of Brainafk and also add that I did the same when I was new trader, but lost my account, because I didn't use stop loss. I had a record on my trades without not only one time of loss, but one was enough. Then I started to study trading for many years until finally find something. Its not easy to create a system and 6 months is not big time, you need at least 10.000 of hours screen time and many patience to achieve success in forex trading. Wish you the best of luck!
I can only add to that dont fall victim to the get rich quick scheme! Invest the time, pay your dues. Once you achieved consistent gains you can scale up, use leverage all those toxic treats the financial markets have to offer
If that doesnt sound satisfying to you, keep in mind that Amazon was a famously unprofitable company as they were playing the long game. Look at them now
Don't follow my trades. Challenge my Analysis!
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