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EURUSD

  • #987,961
  • May 10, 2015 2:47am May 10, 2015 2:47am
One trader challenged my trades multiple times via PM without any constructive argument. I want to say that I close my trades with loss wherever it needed. I trade with multiple lots to manage my trades. For me, the most important thing is to close multiple trades with Net Profit.

I am not very good trader who predict every trade accurately. If I can do that I would be millionaire , probably I am.

I am not brilliant because I learned forex trading in hard way by loosing money.

So I learned that small but consistent Net Profit is suitable for my trading with small loss.
Love for all; Hatred for none.
  • #987,962
  • May 10, 2015 2:56am May 10, 2015 2:56am
Quoting English
{quote} Hello Forexville. I'd like to ask you a general question about "correction". The word appears to be rather bias in nature, but at the same time, falls into what we see daily even on smaller tf. The question I have is if people "expect" correction, then why don't more people wager on the actual correction? It would appear that this "correction" on EU has been one of the most lethal ones over the last 15 months. What is your take on correction?
I don't think the market has to correct anything. Correction is a bit of a colloquial among traders which usually means large move occured and likely overcompensated the true impact of news of whichever event. Correction doesn't necessarily happen when you expect it. However, trading in markets which have large momentum moves is off benefit to you as long as you have the capital necessary to ride the swings and take your pips on top. To make money in this racket all you really need is capital which means nothing to you. Of course, no such thing exists.
  • #987,963
  • May 10, 2015 3:16am May 10, 2015 3:16am
short above 1.1230, long below 1.1010
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 28 KB
  • #987,964
  • May 10, 2015 3:22am May 10, 2015 3:22am
Quoting edyraper
{quote} How far it can go with this data we have got , but first let's see if EUR topped out for short for mid-long term positioning , not sure to carry a short or not let's see .

Dear i not understand what you want to say make it simple please or more detail?
Nothing is Perfect... Every Body is Right...
  • #987,965
  • May 10, 2015 4:47am May 10, 2015 4:47am
Quoting alayinizAMK
short above 1.1230, long below 1.1010 {image}
Yes that is likely scenario. Agree.
  • #987,966
  • May 10, 2015 8:12am May 10, 2015 8:12am
it is very interesting to see what happened during NFP... both 50% respected....
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15nfp.png Size: 52 KB
80% effort, 20% luck
  • #987,967
  • May 10, 2015 9:13am May 10, 2015 9:13am
Let me preface this by saying that I trade with a 2-5 day bias and have no interest in looking at or holding trades beyond that...(My average trade lasts just over 18 hours). With that said, in looking at USDX, it has structure in play for the bullish side this week. I'm a little worried however, that it may need to come back down and tag the 95.00 area first before continuing up. In terms of EUR/USD,...it in turn is setting up for a down move over the coming days. A break below 1.1160 should confidently bring about 1.1016 and that's the trade I'll take on E/U this week. I'll re-evaluate from there once that number reached....happy trading
Don't trade the noise
  • #987,968
  • May 10, 2015 9:24am May 10, 2015 9:24am
Quoting Forexville
{quote} I don't think the market has to correct anything. Correction is a bit of a colloquial among traders which usually means large move occured and likely overcompensated the true impact of news of whichever event. Correction doesn't necessarily happen when you expect it. However, trading in markets which have large momentum moves is off benefit to you as long as you have the capital necessary to ride the swings and take your pips on top. To make money in this racket all you really need is capital which means nothing to you. Of course, no such...
I would agree with you as far as "correction" occuring when you least expect it, unless you are a counter trend trader.
Leading by "Being an example" is hard to find then actual examples.
  • #987,969
  • May 10, 2015 9:59am May 10, 2015 9:59am
Here's my monthly chart with all the outside reversal bars highlighted (like we had last month). Dashed lines are failures, boxes are places where there
was one but (even if it worked or didn't work) the stochs were totally in OB/OS in the wrong direction (i.e the bar said short the the stochs
were way in OS, or vice versa).

A few things are interesting about these bars.

1) These bars work more often than they don't

2) Even when they do work (signal a major or minor swing) the next month there's often a reversal toward the middle of the outside bar)

3) Even when they fail, there's usually a pretty good fight put up near the outside edge for a couple of months (chop)

4) Even when they fail and break the other way, price usually comes back to the outside failure point (i.e the edge where you'd have
bought/sold the cheapest and retests it. (Not that you'd probably want to hold that long unless you're FXTyrant, but then that right there's a nice trade on the retest.)
Attached Image (click to enlarge)
Click to Enlarge Name: outsidebars.jpg Size: 553 KB
  • #987,970
  • May 10, 2015 3:13pm May 10, 2015 3:13pm
Attached Image (click to enlarge)
Click to Enlarge Name: online trader.PNG Size: 607 KB
  • #987,971
  • May 10, 2015 3:15pm May 10, 2015 3:15pm
Quoting Pharm0r
{image}
awesome!!! so true
Whenever i buy the price goes up & whenever i sell the the price goes down!
  • #987,972
  • May 10, 2015 3:17pm May 10, 2015 3:17pm
Quoting Pharm0r
{image}
lol
money ain't shit,i'm the shit..
  • #987,973
  • May 10, 2015 3:52pm May 10, 2015 3:52pm
hi
please someone tell me how can i trade the news and earn green pips?
  • #987,974
  • May 10, 2015 3:55pm May 10, 2015 3:55pm
Quoting albatross144
hi please someone tell me how can i trade the news and earn green pips?
you dont trade the news - go and gamble on red or black
  • #987,975
  • May 10, 2015 4:02pm May 10, 2015 4:02pm
Quoting albatross144
hi please someone tell me how can i trade the news and earn green pips?
It is very easy, anyone can do it.
If you can gamble, then you can do it. Just guess the news and open a position before the news in regards with your guess.
It is 50/50 game. This the max % that anyone could do it.
There are news that move the market by 100s of pips and others with 10 s. choose the ones that fit your money management and the amount of hit you could withstand. And go for it.
  • #987,976
  • May 10, 2015 4:48pm May 10, 2015 4:48pm
Quoting Pharm0r
{image}
Finally the truth
  • #987,977
  • May 10, 2015 5:04pm May 10, 2015 5:04pm
what is the position now? please tell about it . thanks sir,,,,
  • #987,978
  • May 10, 2015 5:31pm May 10, 2015 5:31pm
EURUSD
Fundamental:
NFP failed to move market as I anticipated, lower still possible but maybe not to 1.0900. Payrolls came out within expectations and unemployment better than expected but earnings and wage growth was below indicating slow economic growth, I think that we will have to see much better U.S data for FED to consider lift off in June or even in September. We know that when that happens it will drive Dollar higher due to flows of investment into the U.S, so any hints on this are pretty crucial. This week is not particularly rich U.S data wise so maybe attention will shift to Eurozone meeting and Greek deal that still seems far from seeing its last episode.

Technical:
Monthly:Bullish Engulfing candlestick pattern points to 1.1816 area, 1.2200 is nearest Fib confluence. this pattern happened after 1.27 Fib extension same Tf.

Weekly: Market hasn't reached any Fib extension to make me believe correction is done with, MACD negative divergence.

Daily: 1.618 Fib extension previous swing response wasn't as fast as I expected nevertheless still some considerable move down, MPP still untouched at 1.1000, price stopped at .236 Fib and need to see breaking down as hint for deeper retracement. MACD negative divergence here as well.

H4: We could see another ABCD pointing to 1.1500, move above 1.1290 becomes first sign (yellow circle), 1.1377 is WR1 and worth a short but not as good as first red level.

H1: Possible ABCD pointing to 1.1117, also close to natural H4 support.

My plan is to Buy within these levels 1.1000, 1.1051, 1.0942 and add on the way up, strict MM is absolutely required on taking any positions.

Charts below: Monthly, H4 and H1
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD M1 BULL ENGULFING.png Size: 25 KB
Click to Enlarge Name: EURUSD H4 ABCD.png Size: 28 KB
Click to Enlarge Name: EURUSD H1 ABCD.png Size: 46 KB
We watch the charts from every angle so you don't have to!!
  • #987,979
  • May 10, 2015 5:36pm May 10, 2015 5:36pm
Quoting pedro319
EURUSD Fundamental: NFP failed to move market as I anticipated, lower still possible but maybe not to 1.0900. Payrolls came out within expectations and unemployment better than expected but earnings and wage growth was below indicating slow economic growth, I think that we will have to see much better U.S data for FED to consider lift off in June or even in September. We know that when that happens it will drive Dollar higher due to flows of investment into the U.S, so any hints on this are pretty crucial. This week is not particularly rich U.S...
How about the doji printed last week? Not worth noting?
Thank you!
  • #987,980
  • May 10, 2015 5:47pm May 10, 2015 5:47pm
Quoting Shunyi
{quote} How about the doji printed last week? Not worth noting? Thank you!
Thanks for asking, I treat that as a high wave candle but because it didn't happen at Fib level I can't see it as significant as the other ones, there are Fib levels but only on Daily, so the retracement down I am looking at is on that same timeframe, it won't be seen on weekly chart. This is my interpretation and I could be wrong ofc.
We watch the charts from every angle so you don't have to!!
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