{quote} hehe... that's the Hamletian question mate... to be or not to be... which to us can be translates as "to go short or to go long", or even simpler "up or down"Anyway, looking at how you handled your situation there one can see that you are in control of your emotions, staying cool and calm just like a pro. Congrats for that pal! It a great encouragement for beginners like me to know that others before have succeeded. In addition, you also show an example of a good trade which I wouldn't have taken as I would have been emotionally...
Ratios & Harmonics: a Different Way to Trade
- #14,702
- Nov 5, 2015 9:02am Nov 5, 2015 9:02am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
{quote}nice job.
{quote} truly amazing mate!no words; just action (and money in the bank).
I just happened to have a strong short bias with the luxury of being in net profit then the news came. If I wasn't, I would have closed out before the news.
- #14,704
- Nov 5, 2015 9:31am Nov 5, 2015 9:31am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
Here is my trade today. just opened my PC, saw this and entered. it's probably premature but let's see how it goes. not risking more than 7 pips though. {image}
{quote} nice job. I'm also in this trade. entered at 1.08825 (not really happy with my entry but what the hell). I'm expecting a deeper retrace possible a 78.6 (1.0855 - 1.0860). if strength is with us , i"ll be looking for a move to 1.0835 - 40's. Good luck
- #14,705
- Nov 5, 2015 9:49am Nov 5, 2015 9:49am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
{quote} nice job. I'm also in this trade. entered at 1.08825 (not really happy with my entry but what the hell). I'm expecting a deeper retrace possible a 78.6 (1.0855 - 1.0860). if strength is with us , i"ll be looking for a move to 1.0835 - 40's. Good luck
, thank you Mr.Pip for showing me this). And it's funny that the US data was not good today. the worse the news, the stronger the US dollar haha . yeah yeah...so much for indicator base and even for fundamental traders... well, let's see. SL at B.E now.
- #14,706
- Nov 5, 2015 10:01am Nov 5, 2015 10:01am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
{quote} {quote} Well done guys, this looks like it is moving nicely in your favour
on the other hand, u seem to be enjoying so much GU man. have u fallen in love with that pair or what?
hehe. Well, I can't say that you don't fit together. u seem in such a perfect harmony ... enjoy this relationship as long as it lasts man (these are the only type that instead of emptying your bank account, theydo just the opposite). 
- #14,707
- Nov 5, 2015 10:12am Nov 5, 2015 10:12am
- | Joined Dec 2013 | Status: Trader | 1,118 Posts
{quote} well, let's see. I'm expecting an even deeper push as we are in a strong downtrend. My TP is at fullfillment of harmonics at 1.0795 (just 5 pips above the exact level
- #14,708
- Nov 5, 2015 10:13am Nov 5, 2015 10:13am
- | Joined Dec 2013 | Status: Trader | 1,118 Posts
{quote} {quote} Well done guys, this looks like it is moving nicely in your favour
- #14,710
- Nov 5, 2015 2:02pm Nov 5, 2015 2:02pm
- Joined Nov 2014 | Status: Trader | 1,300 Posts
{quote} thank you mate... we can't be wrong all the time, right. even a novice trader can have a winning streak. But, let's see how this one goes. I'll let it run, but my worries might be the speach of FOMC guys at 7:30 pm. It's reasonable to expect them to support Yellen about increasing interest rates, but who knows.... they could be party crashers and ruin our party.
The GU trade made me bleed for a bit, but now it's behaving.
Just playing shy of the 1:1 so I'm thinking I'll cash out soon, definitely if there is any northerly movement with the impending BOE speech.
- #14,711
- Nov 5, 2015 3:28pm Nov 5, 2015 3:28pm
- Joined Nov 2014 | Status: Trader | 1,300 Posts
{quote} Haha, thanks! You certainly seem to be on fire this week
Still think it might test the round number, but I've cashed out.
- #14,713
- Nov 6, 2015 2:08am Nov 6, 2015 2:08am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
Good trading today guys!! unfortunately I was not able to make any trades today. Had my expectation for the GU to move to 1.5400, which it did, but then at the times I looked at my charts I didn't feel there was a good enough bar by bar, so stayed out. Price was in a range waiting for the news. I was very tempted to enter short before the news based on my pervious analysis. I got as far as putting my order info in, but I am pleased to say I thought about it and didn't trade as it is not in my strategy. Yes, if I did I would have netted 50-60 pips...
- #14,714
- Nov 6, 2015 2:14am Nov 6, 2015 2:14am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
First up is an EU short.
A few hesitations about this trade: some bullish strength going into the entry, and given the time of day the big money hasn't decided where it's going yet. So there will be a tight leash on this trade.
Golden zone, AB=CD, 127AB=CD plus the daily open. A bit of structure there too. Longer term EU bias is still short. Let's see what happens
I'd like to see at least a 1:1, but that puts it in the territory of a test of 1.0850. It'll depend on how the bears play it on the way down... presuming it even goes down
A few hesitations about this trade: some bullish strength going into the entry, and given the time of day the big money hasn't decided where it's going yet. So there will be a tight leash on this trade.
Golden zone, AB=CD, 127AB=CD plus the daily open. A bit of structure there too. Longer term EU bias is still short. Let's see what happens
I'd like to see at least a 1:1, but that puts it in the territory of a test of 1.0850. It'll depend on how the bears play it on the way down... presuming it even goes down
- #14,715
- Nov 6, 2015 5:17am Nov 6, 2015 5:17am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
A GU short that nearly burnt me 
Bears have had a phenomenal run recently... which makes me wonder how long they can keep it up. But not being one to catch the falling knife, I'm sticking with shorts.
That being said, there haven't been many short opportunities that meet my criteria. Which inevitably leads to marginal set ups. This was one of them.
What I was thinking at the time:
On the negative side, short retracements always carry a higher risk. This is a short retracement on a short swing.
On the positive side, once daily support is cleared there should be a smooth run south to structure. Plus the set up affords a tight stop in the event of a confirmed break above the RN.
And how the setup really played out:
Bears have had a phenomenal run recently... which makes me wonder how long they can keep it up. But not being one to catch the falling knife, I'm sticking with shorts.
That being said, there haven't been many short opportunities that meet my criteria. Which inevitably leads to marginal set ups. This was one of them.
What I was thinking at the time:
On the negative side, short retracements always carry a higher risk. This is a short retracement on a short swing.
On the positive side, once daily support is cleared there should be a smooth run south to structure. Plus the set up affords a tight stop in the event of a confirmed break above the RN.
And how the setup really played out:
- #14,716
- Nov 6, 2015 7:44am Nov 6, 2015 7:44am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
I'd like to see at least a 1:1, but that puts it in the territory of a test of 1.0850.
- #14,717
- Nov 6, 2015 7:54am Nov 6, 2015 7:54am
- | Joined Dec 2013 | Status: Trader | 1,118 Posts
{quote} I guess it made that 1:1
- #14,718
- Nov 6, 2015 8:15am Nov 6, 2015 8:15am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
{quote} I guess it made that 1:1
- #14,720
- Nov 6, 2015 8:35am Nov 6, 2015 8:35am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
{quote} did u take that trade? luck u man. i'm scalping for a few pips, and while typing this, closed at +13. hehe. (hehe tweeting during escaping fire?!) {image}
I had 2 trades open in the run up to the news, I held the GU and closed the EU