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EURUSD only

  • #229,061
  • Jul 2, 6:55am (2 hr 2 min ago) Jul 2, 6:55am (2 hr 2 min ago)
My first buying attempt ended up with getting stopped out at break even.. Will try again... watching M5 for some signal..

H4: My main focus is now solely on weekly support: 1.13915 area...(waiting for potential shake out during news)
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Focus only on what truly matters!
  • #229,062
  • Jul 2, 7:20am (1 hr 37 min ago) Jul 2, 7:20am (1 hr 37 min ago)
It looks like the fight for the weekly support area is going to be wild soon... Get ready folks!
Focus only on what truly matters!
  • #229,063
  • Jul 2, 7:21am (1 hr 36 min ago) Jul 2, 7:21am (1 hr 36 min ago)
Quoting Leser
Short 1.1417, no stop, will add if it raises. It's in overbought territory, plain and simple.
Closed 1.1397, +20 pips, now flat and waiting for the numbers.
  • #229,064
  • Jul 2, 7:29am (1 hr 28 min ago) Jul 2, 7:29am (1 hr 28 min ago)
Fire in the hole...

Yeeeeeeehhhaaaaa....
Focus only on what truly matters!
  • #229,065
  • Jul 2, 7:35am (1 hr 22 min ago) Jul 2, 7:35am (1 hr 22 min ago)
I'll go short again once the dust settles, it's in overbought territory again.
  • #229,066
  • Jul 2, 7:37am (1 hr 20 min ago) Jul 2, 7:37am (1 hr 20 min ago)
I envy you guys who didn't get stopped out before the news
  • #229,067
  • Jul 2, 7:40am (1 hr 17 min ago) Jul 2, 7:40am (1 hr 17 min ago)
Guys dont try to catch falling knife , just a friendly advice.
Anyone who has never made a mistake has never tried anything new.
Account Building Attempt #2 All Time Return: 84.4%
  • #229,068
  • Jul 2, 7:43am (1 hr 14 min ago) Jul 2, 7:43am (1 hr 14 min ago)
Quoting Leser
I'll go short again once the dust settles, it's in overbought territory again.
I noticed you mention the terms overbought and oversold very often. What does it mean to you?
In my opinion, there is no such thing as overbought or oversold.
If there is an agreement on price and disagreement on value, the market will move in the current direction, until the market changes its view on value of the given asset. Until then, it can go on forever. See Nasdaq or Gold before the sell-off.
When I hear overbought/oversold I assosiate it with overextended, in the sense of that price extended fast much further over/under the current moving average or ATR or any other relative basis than expected.
  • #229,069
  • Jul 2, 7:43am (1 hr 14 min ago) Jul 2, 7:43am (1 hr 14 min ago)
Quoting jonasdao
Opened a swing long at 1.1380. SL 1.1317 (63 pips risk), no fixed TP atm. SL to BE (approx.) above 1.1450, then trailing.
Just moved the SL on the remaining 40% to ~BE at 1.1374.
Trade is now risk-free, with ~25 pips secured overall.

Let's go bulls!
When the trumpet sounds, you won't be able to hear the techno anymore.
  • #229,070
  • Jul 2, 7:52am (1 hr 5 min ago) Jul 2, 7:52am (1 hr 5 min ago)
Quoting 26smatli
I envy you guys who didn't get stopped out before the news
Happened to the best of us. The best thing to do is to stay away from the market whenever big news is coming, unless you have big capital that can bear the pressure!
  • #229,071
  • Jul 2, 7:54am (1 hr 3 min ago) Jul 2, 7:54am (1 hr 3 min ago)
i will only buy if it drops around 1.1437
  • #229,072
  • Jul 2, 7:57am (1 hr 1 min ago) Jul 2, 7:57am (1 hr 1 min ago)
Quoting Gecco8
{quote} I noticed you mention the terms overbought and oversold very often. What does it mean to you? In my opinion, there is no such thing as overbought or oversold...
That's standard market jargon and has been used for decades whenever indicators such as the RSI reach extreme levels. You can call it oversold, overextended, stretched, or whatever you prefer — the point is simply that the market has reached an extreme condition. Of course, these extremes can persist for quite some time. But experience shows that, more often than not, they are eventually followed by a corrective move, sometimes quite quickly.

And yes, the big players do pay attention to these conditions as well unless an extraordinary event overrides the usual market dynamics.
  • #229,073
  • Jul 2, 8:00am (57 min ago) Jul 2, 8:00am (57 min ago)
Quoting Polimini
i will only buy if it drops around 1.1437
yes I would prefer buying around at 1.143 newly support area
  • #229,074
  • Jul 2, 8:26am (31 min ago) Jul 2, 8:26am (31 min ago)
Quoting Leser
{quote} That's standard market jargon and has been used for decades whenever indicators such as the RSI reach extreme levels. You can call it oversold, overextended, stretched, or whatever you prefer — the point is simply that the market has reached an extreme condition. Of course, these extremes can persist for quite some time. But experience shows that, more often than not, they are eventually followed by a corrective move, sometimes quite quickly. And yes, the big players do pay attention to these conditions as well unless an extraordinary event...
I agree with this, because it is logical and scientific.
Often, your absence is better than your presence.
  • #229,075
  • Last Post: Jul 2, 8:30am (27 min ago) Jul 2, 8:30am (27 min ago)
Quoting Leser
{quote} indicators such as the RSI reach extreme levels
Yes, but how do you determine it? I am asking because your call was accurate. Are you using indicators? I am using a self developed calculation that doesn't rely on indicators and would like to refine it, if there is something I might can make use of, if you don't mind.
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