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EURUSD

  • #1,089,401
  • Feb 1, 2017 5:08am Feb 1, 2017 5:08am
Long EUR , stop 1.0770
  • #1,089,402
  • Feb 1, 2017 5:12am Feb 1, 2017 5:12am
Quoting yanitsa
Bought Silver 17.50
Closed half for 1.25 %
  • #1,089,403
  • Feb 1, 2017 5:12am Feb 1, 2017 5:12am
I noticed a small AB=CD on 15m that pushed price back.. waiting till the AB=CD traders take out their profits at fib 61.8= 1.0785.. I believe that will be touched.. imo best place to jump into a buy..

Good Luck
Focus only on what truly matters!
  • #1,089,404
  • Feb 1, 2017 5:26am Feb 1, 2017 5:26am
The price continues to flat. I believe that the price will go down to the point of 1.07692 and then go up again to the point of 1.08125.
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  • #1,089,405
  • Feb 1, 2017 5:30am Feb 1, 2017 5:30am
Guys I had to share this.. might help some of you to see the bigger picture.. (Thanks to Chris Svorcik from www.mtrading.com, all credits goes to him.)

Hour 4: "The EUR/USD turned around – yet again – for one more bullish push higher. The price action, however, remains very choppy and corrective. Price has also reached the next Fibonacci resistance: the 88.6% level. A break above the 88.6% makes a wave 2 (brown) unlikely and a break above 100% invalidates this wave structure. A break below support could spark waves 3"

Hour 1:"The EUR/USD bearish price action was an ABC correction (green) and price could have completed a bullish ABC correction too. The wave C (green) could continue higher if price breaks above resistance (red) and the 138.2% Fibonacci."

Stay Green
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Focus only on what truly matters!
  • #1,089,406
  • Feb 1, 2017 5:59am Feb 1, 2017 5:59am
Quoting Don96
{quote} because on the trade i took 10 pip SL... if it carries on going then i lose 10... if its a level i have and i dont take it and it shoots in my direction... then i missed the trade... (exactly what happened with GU today) WHAT I ABSOLUTELY HATE IS WHEN I GO +30 OR SO AND IT GOES BACK UP STOPS ME OUT AND THEN DROPS.... LIKE SERIOUSLY
I totally understand how that feels.

I personally don't trade with stop losses and I know many will say it's a risk etc. But the stop loss I take is on money management and it has helped me a lot. I suffer heavy drawdowns but I will eventually pull back. Well, this is a very poor method to trade.

Nonetheless I have been growing and learning and through all the underwater positions, you will slowly learn a thing or two. Of course you learn through stop losses as well, but like what you said, if it hits and drops, you feel sickened. Sometimes we have to really look at what the market has to offer and prepare the trade. Even if you hit break even, you might want to set up a pending sell below breakout to catch the drop. It may help your strategy significantly.

Just my 2 cents. Cheers!
A 1 pip gain is better than a 1 pip loss.
  • #1,089,407
  • Feb 1, 2017 6:06am Feb 1, 2017 6:06am
why is it that when a bank increases/decreases interest rates, (other than the initial expected direction) does it then go up... for example December 2015 hike... december 2016 hike... since these the months after just go up...

same with BOJ... negative rates... spike up then drops like a stone... ECB in march cut rates... went to 1.082 and in same day went to 1.2+...

it baffles me... unless i am a retard
  • #1,089,408
  • Feb 1, 2017 6:07am Feb 1, 2017 6:07am
Quoting Ata-Turkoglu
Guys I had to share this.. might help some of you to see the bigger picture.. (Thanks to Chris Svorcik from www.mtrading.com, all credits goes to him.) Hour 4: "The EUR/USD turned around yet again for one more bullish push higher. The price action, however, remains very choppy and corrective. Price has also reached the next Fibonacci resistance: the 88.6% level. A break above the 88.6% makes a wave 2 (brown) unlikely and a break above 100% invalidates this wave structure. A break below support could spark waves...
I am agree with your analyse. but i think EU first will see 1.07650 and then will go higher to see top of wave2.
  • #1,089,409
  • Feb 1, 2017 6:10am Feb 1, 2017 6:10am
Quoting Don96
why is it that when a bank increases/decreases interest rates, (other than the initial expected direction) does it then go up... for example December 2015 hike... december 2016 hike... since these the months after just go up... same with BOJ... negative rates... spike up then drops like a stone... ECB in march cut rates... went to 1.082 and in same day went to 1.2+... it baffles me... unless i am a retard
Orders I guess .....does it matter ?
It's not healthy to trade the announcement ....well some ppl might have a smart way to profit out of it ..
  • #1,089,410
  • Feb 1, 2017 6:13am Feb 1, 2017 6:13am
seriously, another breakout...

ah deary me - dollar officially becoming most unattractive currency atm - i feel its too high to buy atm
  • #1,089,411
  • Feb 1, 2017 6:14am Feb 1, 2017 6:14am
Reminder for all traders and myself, emotion kils and whenever you have started a position, emotional bias already kick in.
May use stop loss but based on support and resistance and not based on how many pips you afford to lose as money market is
considerably high in volatility compare with equity market...
Fundamental provide Volume, Technical shows Direction
  • #1,089,412
  • Feb 1, 2017 6:16am Feb 1, 2017 6:16am
Quoting Don96
why is it that when a bank increases/decreases interest rates, (other than the initial expected direction) does it then go up... for example December 2015 hike... december 2016 hike... since these the months after just go up... same with BOJ... negative rates... spike up then drops like a stone... ECB in march cut rates... went to 1.082 and in same day went to 1.2+... it baffles me... unless i am a retard
Its designed to never stop the baffling, that why edges and safety+ are the way to go
  • #1,089,413
  • Feb 1, 2017 6:16am Feb 1, 2017 6:16am
Quoting yanitsa
Long EUR , stop 1.0770
Will move s/l to b/e if I see 1.0816
  • #1,089,414
  • Feb 1, 2017 6:17am Feb 1, 2017 6:17am
[quote=Don96;9508879]seriously, another breakout...

Where ????
  • #1,089,415
  • Feb 1, 2017 6:19am Feb 1, 2017 6:19am
[quote=yanitsa;9508894]
Quoting Don96
seriously, another breakout... Where ????
perhaps on its way for everything dollar based on EU/UCHF formation...

also

i wonder how this plays?

weekly MACD says we going higher... considerably... h4 says down... daily is miff
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  • #1,089,416
  • Feb 1, 2017 6:23am Feb 1, 2017 6:23am
[quote=Don96;9508908]
Quoting yanitsa
{quote} perhaps on its way for everything dollar based on EU/UCHF formation... also i wonder how this plays? {image}
No breakout yet IMO , 1.0810 ( lat night's high ) still intact .
I am holding long , target 1.0830-40
  • #1,089,417
  • Feb 1, 2017 7:03am Feb 1, 2017 7:03am
Short 1.0789 first target 1.077, final target 1.0755
  • #1,089,418
  • Feb 1, 2017 7:06am Feb 1, 2017 7:06am
I was waiting for the touch of 1.0785 and it did.. now as long as it doesn't touch 1.0771 I will wait for a candle formation on 15m chart, like an engulfing or hammer etc that shows bearish weakness and then buy.. If 1.0771 gets touched I will not buy and wait for new data.. no shorting here (at least not as long as 1.0775 holds)

Edit: News kicked in.. price touched 1.0771.. means: more waiting lol...

Stay Green
Focus only on what truly matters!
  • #1,089,419
  • Feb 1, 2017 7:16am Feb 1, 2017 7:16am
Looks like someone just dumped all over. I was shorting @1.0796 so thanks for that!
  • #1,089,420
  • Feb 1, 2017 7:18am Feb 1, 2017 7:18am
Quoting yanitsa
{quote} Will move s/l to b/e if I see 1.0816
1/2 silver stop at b/e
EUR I took out manually before DATA for few pips loss .
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