EURUSD

Thx for showing me that, it explained very simple, always ready to get better.......

Activity that occurs from Friday NY close (NY time), until Monday Aussie open (Aus time) is considered a weekend gap. I sound like a broken record.

I see we have moved 2 pips in 8 hours

1 hour chart is showing a very nicely formed bull flag. No bias, it's just what I see.

And yes Bmac, I can scalp like that too, usually with 10 lots each trade. It is not for me however, it makes me go grey

Off for a quick surf, the waves are pumping this morning. Solid 6-8ft and offshore

just closed my last long off to best buy for new monitor my goal for the week

Trader Psychology disseminated.

If you have been Trading for >= a year or so, then you have read some stuff on this Topic.

If the above Fits you & you think that, given another 5 years or so, you will have it beat...
Sorry but I have some Bad News.

Trading Psychology is a Never Ending Battle.

Let's call it something else. Let's call it Trader Confidence.

Trader Confidence is, by far, the Ultimate Hurdle in Your Career. No matter how far into that career you have ventured.

Confidence That:
You are Correct on your Call.
If Not, Your Odds Advance on being Correct on the Next one.
I can Tell myself "I Was Wrong. Re-evaluate & decide whether to 'Stand Aside or Reverse Position'" without diminishing My Self Esteem.

I'm not suggesting Martingale or any other "Damn The Torpedoes" method. I'm talking about YOU & Your Money.
Don't waste your time reading the ### Pips/Day stuff Unless they come with details.

{Guilty as charged your Honour. I posted just such a comment today. 380 P on Full Lots with No Explanation how I accomplished it. Truth is; I don't really know If I Could explain it. Been Trading 3 decades & just instictually reacted to the Charts on multiple TF.}
POINT: I closed the day Up close to $4,000.00
First 3 Trades got me $1,800.00 Banked Profit.
Last 3 Trades added an additional $2,000.00
BUT during those last 3 Trades I was, at one point DOWN $1,500.00. That was after I Scaled Into . {as opposed to Averaging Down.} my Third Opening on this Trade.
WyTF would I do such a silly silly thing?
{you can do the Math but}
I Never exposed more than 1.5% of my account to the Market.
There's a lot of Bear out there. {all my trades (6 of them) were Short.}
I had predefined SL in MIND {didn't place them with my borker}
I had predefined TP in mind and placed them with my borker.


It's been said before & bares worth mentioning again.
Document Your Trades. You Have to. No Other way around it.
You Need to Know Where You are Making Your Mistakes. How else do You expect to Fix it? {If you answered "Ask @ FF" Please stay on demo}

Some of you lost Money Today. In a perfect world, I hope I didn't take it but I did take it from somebody. {dems de rules boys}

Stick to your Rules, of course, but if you expect to get all your Trades correct, Move onto something that will give you an income when you are forced to retire.

Trading Psychology= Understanding You Can Be Wrong AND Knowing how to deal with it.

using this as an opportunity to dig in deeper on my shorts. 10 pips off of even for me though so hope Im right

turned into a pin... this could be good

Err. we like to call that "Averaging In" but, often your description is more apropo.
TF's
1Min With You
15Min Nuetral to against
1Hr With you.

Best O' BL.
BMc
Only MY View. Your's is what counts.
My view...
Cut your losses.
Sorry, I was hoping to give you a target.

Is it an inverted H&S on 1H (still in the formation)? If so, it might retest 1.275x before heading south.

Quality post as always. . .

[quote=FadelMS;2552197]Is it an inverted H&S on 1H (still in the formation)? If so, it might retest 1.275x before heading south.[/quote


Yes it is - could well test neckline.

What to do with this...?

Candle closes in 15 minutes at 6pm CST. Descending TL drawn on 6 hr chart from 3090 High a'rd 8am Monday morning CST.

Seriously, as much as I'd like to see this continue dropping, the lower and mid level TF's have not generated alot of confidence in me that it will just yet.

We're well within the 2550/2800 range I've been looking at with a better established Support level (2550) than R level yet (except for 2740ish) , but it's still murky.

I'd rather see some some confirmation of the range, or a breakout either way... still a little early to get set in the Olde Mind yet imo..

Staying on the sidelines except for the scalpies. Lots of those...

Just looking at the hidden divergences it could go either way IMHO.

Staying out for the time being. I don't see the bull on the 4h divergences though.

Just a general trading question -- how long does one wait to draw the divergence lines? Sometimes the train might have already left. My assumption is if it confirms to the overall trend go with it, if not sit it out. Any thoughts?

What is this red line in your chart?

Thanks in advance.

I have add another short at 1.2690.
I will see if I close this trade or not according next 4 hours PA.
If PA will rule my drop angle I will leave this trade open and closed one of my below trades.

Personally I like the set up for shorts!!

I would like to see more people here talking about their views for Longer Term!!!

GL ALL!!

Next level to watch 1.2624/33!!

20 SMA. It is the same Middle Line of Bolinger Bands.

Still moving South here, lets see if it keeps falling. Stops still in place above 1.2750

i think we have a battle

Thanks.

The green one looks like the 120 LWMA is this correct?

....why is that guy so sure the price will drop further and why is he saying 1.2694 is protected for now!!

Answer:

I Like the PA, I like the stop levels at 1.2759/1.2722 and now 1.2694.
I like my symmetric channel and I want to see a line retest at 1.2633.
If price do not reach 1.2633 before a 1.2694 break, I will close some of my shorts!!


All this can change if 1.2694 do not hold and if Ichimoku rule, at least my rule will be broken!!