I am so ready to throw in the towel on this long trade.
Get long maybe at 1.20??
I'm lost.
I must be crazy....
Get long maybe at 1.20??
I'm lost.
I must be crazy....
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Re: EurUsd short term 15 replies
did oanda just drop its spread for eurusd to 1 pip? 11 replies
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NFP nice bump up on EURUSD 2 replies
DislikedI am so ready to throw in the towel on this long trade.
Get long maybe at 1.20??
I'm lost.
I must be crazy....Ignored
DislikedYeah everyone is calling lower on EURUSD, but look for euro bulls unto end of year, 1.10 in 2009.
Shutting down trading desk and heading to class.
what me worry.Ignored
DislikedIn fact I'm not bearish on EURUSD, it has already came too low if you look at the economic numbers. My opinion is that dollar will stumble pretty fast after the deleveraging has been done.
When that is I have no idea so I'm looking at charts really closely and trading other pairs based on correlations and waiting for the correct moment which may (or may not) come soon.
At the moment it looks like CHF (yellow line) is crossing dollar in strength and yen (red) is slowing in speed while euro (blue line) is gaining momentum.
At the moment strongest momentum is in GBPJPY (Red line/JPY vs purple line/GBP) so I would look shorting possibilites there in next few days.Ignored
DislikedJust wanted to say thx to \"ak4k\" for the tip. I scored like 200 dollars for it at the time. (waited for posting rights to be granted..)
ty!Ignored
DislikedGreetings! Please allow me to introduce myself...
How do I trade? I use one very simple chart with very little on it to clutter my feeble brain... Attached is an example.
Anyway, sorry for going on like this, but I thought it would be courteous on my part to introduce myself before simply popping in with a post out of the blue...Ignored
DislikedMy aplogies. How do I change that. Like I said, I'm an addle brained geezerIgnored
DislikedArvin –
My job as a scalper is NOT to forecast the future, but to utilize every tool at my disposal to MINIMIZE risk, and identify the best possible scenario for a successful trade. If one accepts the premise that price moves in waves, then the key is identifying the next wave and entering a trade at the best possible point at the inception of that wave. It is extremely important for a trader to know in which part of the wave the current market is in. The later the entry in a new wave, the greater the probability the trade will be unsuccessful. This all sounds very complicated, but believe me, with lots of screen time, it’s actually quite simple. Just use common sense and LOOK at your chart. It will tell, you everything you need to know.
As an aside, I’m not an Elliott Waver and I’m not talking about counting waves or forecasting the next potential move. I have no interest in that, and it is entirely irrelevant to me as a scalper. The three things I AM interested in are 1., Identifying the direction of the wave, 2., Timing my entry as close as possible to the inception of that wave, and 3., Staying with the momentum of that wave until it is no longer in force.
The few “indicators” on my chart are simply tools, visual aids, that help me in identifying those three factors.
That’s basically it…Ignored