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EURUSD

  • #1,073,341
  • Aug 5, 2016 8:12am Aug 5, 2016 8:12am
Where does this hold...? I don't have a clue jet....
1.1045 (DS3) or maybe 1.1015 (MS1 / WS1) ??
You can manage risk, but you can't manage the return
  • #1,073,342
  • Aug 5, 2016 8:13am Aug 5, 2016 8:13am
So as I thought it was going north(up), I made a mistake, it went south(down). It hit my stop loss. I re-opened a sell position and got the positive results. I earned back the loss from the first trade and earned some profit. When you look at the screen shot where the blue box is and resistance area, I should've open a sell position instead of long. It was clear that it was resistance to that level. We all make mistakes sometimes. Still earned back the loss and made some profit too. I usually do not trade the news but I thought why not do it today. I will not trade the news anymore will stick to my rules as always and trade price action. Done trading for today and wish you all positive profits traders.
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  • #1,073,343
  • Aug 5, 2016 8:15am Aug 5, 2016 8:15am
I am short
  • #1,073,344
  • Aug 5, 2016 8:22am Aug 5, 2016 8:22am
Quoting HappyMe
Where does this hold...? I don't have a clue jet.... 1.1045 (DS3) or maybe 1.1015 (MS1 / WS1) ??
Looks like it is at the support on H1 1.10685, but it wants to break that level. If it breaks next level is 1.10287. We will see. Not trading now just watching the market. I am done trading for today. If it goes north(up) first resistance level 1.11125.
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  • #1,073,345
  • Aug 5, 2016 8:30am Aug 5, 2016 8:30am
Quoting Techanalyst
{quote} Looks like it is at the support on H1 1.10685, but it wants to break that level. If it breaks next level is 1.10287. We will see. Not trading now just watching the market. I am done trading for today. If it goes north(up) first resistance level 1.11125. {image}
Thanks...I'm still searching for an exit....

We run out of the Pivots! a strong move ...does not happen everyday
You can manage risk, but you can't manage the return
  • #1,073,346
  • Aug 5, 2016 8:33am Aug 5, 2016 8:33am
Quoting Techanalyst
So as I thought it was going north(up), I made a mistake, it went south(down). It hit my stop loss. I re-opened a sell position and got the positive results. I earned back the loss from the first trade and earned some profit. When you look at the screen shot where the blue box is and resistance area, I should've open a sell position instead of long. It was clear that it was resistance to that level. We all make mistakes sometimes. Still earned back the loss and made some profit too. I usually do not trade the news but I thought why not do it today....
I think sometimes the momentum carries over- for a while-with these major announcements

If we get to see a rounded bottom- then I am going long
  • #1,073,347
  • Aug 5, 2016 8:50am Aug 5, 2016 8:50am
Quoting HappyMe
{quote} Thanks...I'm still searching for an exit.... We run out of the Pivots! a strong move ...does not happen everyday
Well I close my trades.... don't have a clue where it can stop now....
Anyway I had two trades with a total of +/-145 pips gain

"--I love it when a plan comes together --"

Have a nice weekend!
You can manage risk, but you can't manage the return
  • #1,073,348
  • Aug 5, 2016 8:55am Aug 5, 2016 8:55am
Quoting Squiggles
ladies and gentlemen place your bets{image}
extraordinary
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  • #1,073,349
  • Aug 5, 2016 9:24am Aug 5, 2016 9:24am
I am happy you are a gambler, btw you had no plan a real trader wouldn't trade news.

Quoting HappyMe
{quote} Well I close my trades.... don't have a clue where it can stop now.... Anyway I had two trades with a total of +/-145 pips gain "--I love it when a plan comes together --" Have a nice weekend!
  • #1,073,350
  • Aug 5, 2016 9:24am Aug 5, 2016 9:24am
Past 3 months been saved by NFP - which seems to reverse the trend past 1-2 weeks...

Btw, I have been paying interests for long EURUSD, but gaining interests for short EURUSD. If EUR not going to raise interests and USD not going to drop interests anytime soon, then why would people want to long EURUSD and keep paying interests?

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  • #1,073,351
  • Aug 5, 2016 9:25am Aug 5, 2016 9:25am
People here will never learn to not trade during important news. I learned the hard way too.


Quoting Techanalyst
So as I thought it was going north(up), I made a mistake, it went south(down). It hit my stop loss. I re-opened a sell position and got the positive results. I earned back the loss from the first trade and earned some profit. When you look at the screen shot where the blue box is and resistance area, I should've open a sell position instead of long. It was clear that it was resistance to that level. We all make mistakes sometimes. Still earned back the loss and made some profit too. I usually do not trade the news but I thought why not do it today....
  • #1,073,352
  • Aug 5, 2016 9:29am Aug 5, 2016 9:29am
Quoting Techanalyst
So as I thought it was going north(up), I made a mistake, it went south(down). It hit my stop loss. I re-opened a sell position and got the positive results... We all make mistakes sometimes...I usually do not trade the news but I thought why not do it today. I will not trade the news anymore will stick to my rules as always and trade price action. Done trading for today and wish you all positive profits traders. {image} {image}
Love your candour. Green pips.

KP
Do your homework, follow the footprints of smart money
  • #1,073,353
  • Edited 10:07am Aug 5, 2016 9:29am | Edited 10:07am
Quoting investing101
I am happy you are a gambler, btw you had no plan a real trader wouldn't trade news. {quote}
Well my plan was to get out around the sma89....I thought it must be a real move.... that was telling me the MarketRhythm and HEW...
I wanted to exit around the sma89 on the 4H-chart... but the move was that strong and momentum was still there....that I thought it could move further-down at that time (I call it flexibility) .... and yes I was right with that.... (maybe luck but HEW was my backgard....I am expecting much more bearishness for the coming time....it's sadly for the EUR but that's my view at the moment)

Please read my blog....I was expecting this strong move already some days ago....

For now the MarketRhythm at the 4H-chart is telling me....test around the sma89 at least... then we have to see what price will do....
My suspect is it will go down again and search rhythm with the ema8/21. But at the moment I have to say that I did not worked out the HEW-count for this last move... So that is just a feeling at the moment
You can manage risk, but you can't manage the return
  • #1,073,354
  • Aug 5, 2016 9:37am Aug 5, 2016 9:37am
Quoting investing101
I am happy you are a gambler, btw you had no plan a real trader wouldn't trade news. {quote}

You just don't know this trader well.. that is all.. Follow his posts more often and you will think otherwise.

Quoting HappyMe
{quote} Well my plan was to get out around the sma89....I thought it must be a real move.... that was telling me the MarketRhythm and HEW... I wanted to exit around the sma89 on the 4H-chart... but the move was that strong and momentum was still there....that I thought it could move further-down now.... and yes I was right with that.... (maybe luck but HEW was my backguard....) Please read my blog....I was expecting this strong move already some days ago.... For now the MarketRhythm at the 4H-chart is telling me....test around the sma89......
Following your last count, haven't we just completed an (a) and going to (b) towards the (iii)?
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #1,073,355
  • Aug 5, 2016 9:40am Aug 5, 2016 9:40am
Quoting investing101
People here will never learn to not trade during important news. I learned the hard way too. {quote}

Well.. On this one I have to agree.. I also have a don't trade the news AND of Fridays (unless it is a very special case) on my trading rules.. I also had it the hard way as you mentioned.

I have to say you sometimes get carried away to be honest.. But I hate it when I break the rules..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #1,073,356
  • Aug 5, 2016 9:51am Aug 5, 2016 9:51am
  •  chisi
  • | Joined Dec 2014 | Status: Consistency leads to mastery | 53 Posts
I've always made my trades based on technical analysis and it has never failed me
Experiments All Time Return: -32.8%
  • #1,073,357
  • Aug 5, 2016 9:57am Aug 5, 2016 9:57am
Quoting chisi
I've always made my trades based on technical analysis and it has never failed me
fundamental here. Brings results but need patience
Yo, bears, Did you finish with the drop down?
Beware of robber banks (RB), bad advisors.
  • #1,073,358
  • Aug 5, 2016 10:01am Aug 5, 2016 10:01am
Quoting investing101
I am happy you are a gambler, btw you had no plan a real trader wouldn't trade news. {quote}

If you know what you are doing on the contrary, news represents an opportunity enough scare mongering.

The market always move up in an optimistic reaction towards the news time, thats an opportunity usually taken days in advance of the news just like the EURUSD few days ago.

Am not sure if you call that "trading news" or an intelligent understanding of the market movement.
  • #1,073,359
  • Aug 5, 2016 10:04am Aug 5, 2016 10:04am
Quoting baherhosni
Following your last count, haven't we just completed an (a) and going to (b) towards the (iii)?
Could be...but really I have to sit for this one....
There is definitely some smaller degree counts hidden in this larger bar. So it depends on: what do I see and what do I expect...and finally does this match and if not..what possibilities are there.
As you know I also look at the 4H-Chart to see what the MarketRhythm is telling me.

So I'm sorry, in the weekend I can work it further out!

It's weekend ....I'm taking a beer

Have a nice weekend!
You can manage risk, but you can't manage the return
  • #1,073,360
  • Edited 10:24am Aug 5, 2016 10:04am | Edited 10:24am
Interesting arguments going on here about technicals and fundamentals. Needless to argue imho. A combo of technicals and fundamentals seems potent for long-term trading success.

KP
Do your homework, follow the footprints of smart money
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