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  • #1,084,621
  • Dec 21, 2016 12:38am Dec 21, 2016 12:38am
My Intraday Outlook.

Although bears still hungry, it's a Jingle Bell zig-zag for the Xmas around 1.0400

short 1.0410 -> 1.0380 -> 1.0366

Good trading, you all!
Attached Image (click to enlarge)
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Member
  • #1,084,622
  • Dec 21, 2016 1:25am Dec 21, 2016 1:25am
Quoting Jfrancis
Possible ending diagonal in play here {image}
Thanks a lot for your chart... I know a lot of people copy it and wont give you credit when they have a winner trade but will be quick to bash you when there's a loser..
  • #1,084,623
  • Dec 21, 2016 2:00am Dec 21, 2016 2:00am
Attached Image (click to enlarge)
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  • #1,084,624
  • Dec 21, 2016 2:22am Dec 21, 2016 2:22am
Attached Image (click to enlarge)
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  • #1,084,625
  • Dec 21, 2016 2:44am Dec 21, 2016 2:44am
Toucher lower side went up, going up for 1.045 now
  • #1,084,626
  • Dec 21, 2016 3:05am Dec 21, 2016 3:05am
Quoting Jonstaples
Good morning traders, I see two potential scenarios although both short but the first one representing more risk than the second one due to a possible false brake. 1. Short @ 1.0370 down to 1.0171 (breakout) 2. Short @ 1.0522 down to 1.0370 (reversal) Lets see if Santa brings me my pips! {image}
It seems that the currency pais made a false break , just waiting for the confirmation (Today close above of yesterday high). Bad...Bad...Santa
  • #1,084,627
  • Dec 21, 2016 3:28am Dec 21, 2016 3:28am
Quoting Not-KPMG
{quote} I'd say buy euro. Slowly. 0640 now.... ?
How did that long go?

Shorting EUR at every recovery until Weekly shows reversal but that's not very likely coming months.
  • #1,084,628
  • Dec 21, 2016 3:45am Dec 21, 2016 3:45am
Quoting coldvinc
{quote} How did that long go? Shorting EUR at every recovery until Weekly shows reversal but that's not very likely coming months.
Gonna call some levels? or did you want to just echo a trade thats been happening since multiple months ago.
The coincidental success is more dangerous than the expected failure
  • #1,084,629
  • Dec 21, 2016 3:57am Dec 21, 2016 3:57am
Eur hold strong @1.04 during the start of this London session. Small bet on Upside to 1.053 risk slightly below the lows.
The only true wisdom is in knowing you know nothing.
  • #1,084,630
  • Dec 21, 2016 4:07am Dec 21, 2016 4:07am
Hello,
First of all,I know that it is inappropriate place to ask this question but as I am a junior member,so I am unable to start new thread.

So I want to know that, what if,

I place an order with TP and SL 10$ (RR ratio 1:1) and SL hits.
I place another order with TP and SL 20$ (RR ratio 1:1) and again SL hits.
I place another order with TP and SL 40$ (RR ratio 1:1) and again SL hits.
Then I place 4th order with TP and SL 80$ (RR ratio 1:1) ant this time TP hits.

Total Loss = 10+20+40 = 70$
Total Profit =80-70=10$

Similarly,if I lose 10 trades and the 11th one is the winning trade,I will be in profit.

So please tell me if this strategy is applicable or not.?

P.S : Sorry for my bad English.
  • #1,084,631
  • Dec 21, 2016 4:17am Dec 21, 2016 4:17am
Attached Image (click to enlarge)
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  • #1,084,632
  • Dec 21, 2016 4:20am Dec 21, 2016 4:20am
bought 1.0395 target 1.04205, RR1:1 (hedged short 1.0410 in profit)
might be crazy against the 4 hours bearish momentum
Member
  • #1,084,633
  • Edited 4:59am Dec 21, 2016 4:41am | Edited 4:59am
Quoting Don96
{quote} i really should have more of a plan... they work so much better, i make a lot more when i do.. anyway, some levels to consider tomorrow... Quarter supports and Resistances will be added in due course 1.0355 level coincides with a Daily S1... 1.0423 is a few pips above daily R1... ill see m5 PA to see entries... the best entries always come when i just take it on the level no thoughts and no waiting, just click... but that does have its downsides also.. If anyone has any decent info/videos on orderflow, POC/VPOC areas then show me the way?...
levels - i didn't get any shorts

perhaps 1.04134 as an added short
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  • #1,084,634
  • Dec 21, 2016 4:44am Dec 21, 2016 4:44am
Quoting Don96
{quote} i really should have more of a plan... they work so much better, i make a lot more when i do.. anyway, some levels to consider tomorrow... Quarter supports and Resistances will be added in due course 1.0355 level coincides with a Daily S1... 1.0423 is a few pips above daily R1... ill see m5 PA to see entries... the best entries always come when i just take it on the level no thoughts and no waiting, just click... but that does have its downsides also.. If anyone has any decent info/videos on orderflow, POC/VPOC areas then show me the way?...
levels - i didn't get any shorts

m30 perhaps some good buying opportunity - reaction just above daily PP

looks like a fake-out south perhaps
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  • #1,084,635
  • Dec 21, 2016 4:45am Dec 21, 2016 4:45am
How I'm feeling at present.

 

  1. D1 chart shows downtrend picking up momentum
  2. H4 chart shows small pull back up from 1.036 - 1.037
  3. Next resistance level seems to be alllllll the way down at 1.02 (!!????)
  4. Purple dotted line is where I expect price to go

Plan:

  1. Short at 1.037 (if 1H candle closes below purple line)
  2. TP around 100 pips
  3. SL @ 1.04 (unsure about this)

Attached Image (click to enlarge)
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  • #1,084,636
  • Dec 21, 2016 4:53am Dec 21, 2016 4:53am
Waiting for 1.0410
Then I will short it hard.
Control the risk
  • #1,084,637
  • Dec 21, 2016 4:58am Dec 21, 2016 4:58am
Quoting mabsm95
Hello, First of all,I know that it is inappropriate place to ask this question but as I am a junior member,so I am unable to start new thread. So I want to know that, what if, I place an order with TP and SL 10$ (RR ratio 1:1) and SL hits. I place another order with TP and SL 20$ (RR ratio 1:1) and again SL hits. I place another order with TP and SL 40$ (RR ratio 1:1) and again SL hits. Then I place 4th order with TP and SL 80$ (RR ratio 1:1) ant this time TP hits. Total Loss = 10+20+40 = 70$ Total Profit =80-70=10$ Similarly,if I lose 10 trades...
Simple answer? No. I think what u are referring to is the martingale strategy. It still requires have an unlimited supply of capital and patience. A bad run will bring your account to zero.
Also you have to factor in the spread which is essentially the cost of the trade...which skew your r:r ratio towards the losing side...
The only true wisdom is in knowing you know nothing.
  • #1,084,638
  • Dec 21, 2016 5:00am Dec 21, 2016 5:00am
- > 1.0425 - 1,0445 - 1,0456 if S H S broken
  • #1,084,639
  • Dec 21, 2016 5:11am Dec 21, 2016 5:11am
Quoting mabsm95
Hello, First of all,I know that it is inappropriate place to ask this question but as I am a junior member,so I am unable to start new thread. So I want to know that, what if, I place an order with TP and SL 10$ (RR ratio 1:1) and SL hits. I place another order with TP and SL 20$ (RR ratio 1:1) and again SL hits. I place another order with TP and SL 40$ (RR ratio 1:1) and again SL hits. Then I place 4th order with TP and SL 80$ (RR ratio 1:1) ant this time TP hits. Total Loss = 10+20+40 = 70$ Total Profit =80-70=10$ Similarly,if I lose 10 trades...

Google search "Martingale system" it was invented in year 1500 by pirates flipping coins. It was and it will never be reliable, google will explain why.
  • #1,084,640
  • Dec 21, 2016 5:18am Dec 21, 2016 5:18am
Quoting aarontan
{quote} Simple answer? No. I think what u are referring to is the martingale strategy. It still requires have an unlimited supply of capital and patience. A bad run will bring your account to zero. Also you have to factor in the spread which is essentially the cost of the trade...which skew your r:r ratio towards the losing side...
Thanks for your kind reply,
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