My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #228,421
- Jun 15, 10:52am (20 hr ago) Jun 15, 10:52am (20 hr ago)
- Joined Mar 2012 | Status: Trader | 14,362 Posts | Online Now
- #228,422
- Jun 15, 11:39am (19 hr ago) Jun 15, 11:39am (19 hr ago)
- Joined May 2014 | Status: Full Time Trader | 27,268 Posts
Focus only on what truly matters!
- #228,423
- Jun 15, 12:35pm (18 hr ago) Jun 15, 12:35pm (18 hr ago)
- Joined May 2014 | Status: Full Time Trader | 27,268 Posts
Focus only on what truly matters!
- #228,425
- Edited 2:43pm Jun 15, 2:20pm (17 hr ago) | Edited 2:43pm
- Joined May 2014 | Status: Full Time Trader | 27,268 Posts
{quote} Explain please
- On weekly chart below, the long term bull trend actually shifted to bearish with a deep drop. That way, 1.1622 area became breakout level and main resistance.
- BUT, banks soon started their classic shenanigans and created a fake rise as if the drop never happened. Many were tricked that price will continue higher. Meanwhile banks were simply just getting rid of all their excess Euros. Selling it to the masses.
- Then, not soon after, of course candles dropped back below the breakout level 1.1622. Easy gains for banks. Many left holding Euros but banks were adding more sales. They even did the same trick a little milder 3 weeks ago and sold high again 2 weeks ago.
- Right now, they are probably locking new traders into the game with help of Iran peace deal. But pay attention: we are clearly below 1.1622... This is different.. It is highly likely that they are now cooking a sell off under the hood.
That said.. now coming back to M15... I said what I said... I switched to selling as long as we are below 1.1601... Because weekly candle is below 1.1622.. So.. as a result: even if I see bullish spikes on M15, I can now assume that they will fade out around 1.1622.. Am I sure? Of course not but these are the better odds. Having the weekly as resistance helper is great while trying to sell on smaller timeframes. To keep it simple: I keep my bearish bias as long as H1 and M15 candles open below 1.1622..
I hope it explains simply.. 
Focus only on what truly matters!
- #228,427
- Jun 15, 3:03pm (16 hr ago) Jun 15, 3:03pm (16 hr ago)
- Joined May 2014 | Status: Full Time Trader | 27,268 Posts
M15: rinse and repeat...
Focus only on what truly matters!
- #228,429
- Jun 15, 3:18pm (16 hr ago) Jun 15, 3:18pm (16 hr ago)
1. Today, the trend is clearly upward on the short timeframes. However, I'm leaning towards a downward move and expect a correction. 2. If you look at the chart, you'll notice price gaps everywhere. 3. As punishment for myself, I'm going to refrain from trading today because I made some serious mistakes with my plan last week. 4. Take care, everyone.
Often, your absence is better than your presence.
- #228,430
- Jun 15, 3:41pm (15 hr ago) Jun 15, 3:41pm (15 hr ago)
{quote} Discipline comes after you have an edge. In order to get your edge, you need to read about other traders methods, watch price action and develop your own edge. That takes time and costs money. There is no shortcut.
2- But what I did today was just a very small act of discipline.
3- As you said, my friend, this profession requires experience, and experience requires time.
4- Currently, I am preparing to trade with a large sum, and I must make sure that my mindset and discipline are ready for something like this. <Under testing>
5- But my indicators tell me I should wait a few months before trading with large sums.
6- Currently, I am trading with small sums.
7- Thank you for your concern, my brother. I wish you all the best.
8- My brother Atta, please forgive me for going off-topic, but I wanted to talk about this since we are approaching the market close.
Often, your absence is better than your presence.
- #228,434
- Jun 16, 1:33am (5 hr ago) Jun 16, 1:33am (5 hr ago)
{quote} Scaled up at 1.1616, BE 1.1595, will add more - it's in overbought territory The reason why I’m structurally bearish on EURUSD is that economic, political and social tensions within the Eurozone continue to build, and the overall situation is gradually deteriorating. I don’t want to go into too much detail, as everyone can form their own opinion on the matter. The US-Iran deal should put an end to the recent tug-of-war and allow markets to refocus on economic fundamentals. From that perspective, the medium- to long-term outlook still looks...
- #228,436
- Jun 16, 2:04am (5 hr ago) Jun 16, 2:04am (5 hr ago)
- Joined May 2014 | Status: Full Time Trader | 27,268 Posts
Focus only on what truly matters!
- #228,438
- Jun 16, 2:59am (4 hr ago) Jun 16, 2:59am (4 hr ago)
- | Joined Jun 2026 | Status: Trader | 11 Posts
In situations like this, we often get trapped, our heartbeat starts racing and overthinking takes over with thoughts like ‘What if the price doesn’t reverse from here? 
Am I right or not? I’m sure you guys experience this too, but my advice to everyone is to always use a trailing stop-loss because these days the market trend can change completely with just one piece of news from Trump
Am I right or not? I’m sure you guys experience this too, but my advice to everyone is to always use a trailing stop-loss because these days the market trend can change completely with just one piece of news from Trump
