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  • #1,099,241
  • Mar 26, 2017 8:33am Mar 26, 2017 8:33am
oh btw, if you are looking at your EUR/USD chart and you look a little bit into the past you might see that we had the almost exact same situation before, with the same ridiculous market sentiment.
So, if you are not a veteran who had "seen it all", and you do know and understand that nobody ever stops learning (well, nobody should), it might be of great value to you and your future in trading, to hear and listen closely what one of the most succesful traders (Charlie Burton) had to say about Setups and Sentiments like these, on the EUR/USD.
And if you look into the past on yor chart, you will find the situation he is talking about....

Inserted Video
you are not expected to understand this
  • #1,099,242
  • Mar 26, 2017 8:34am Mar 26, 2017 8:34am
My experience with pair don't want go down in a long time is easy to explain. It want go higher. I suffered this many times when I was wrong in a trade. And USA looks every day more chaotic in political with that long list of guys wanting fuck Trump. I think this rally is first serious trying to break bear bias
Try don't lose pants never...
  • #1,099,243
  • Edited 8:48am Mar 26, 2017 8:37am | Edited 8:48am
Quoting Talkative
{quote} Collapse you say? With all these breaks clearly visible, I am afraid 1.05 may not be seen anytime soon sorry.. me and my household are looking for more highs (LongTerm) a retrace to 1.05 at most is expected but won't be traded.. We only buy.. Talkative
I spoke about a slow collapse of the USD. Not the Euro.
I also spoke about "longterm", not shortterm.
Perfect example of "I want this guy to be wrong". Well, in this case, I want me to be wrong too but I'm afraid I'm not...
you are not expected to understand this
  • #1,099,244
  • Mar 26, 2017 8:47am Mar 26, 2017 8:47am
Quoting tstivers
{quote} I mean I understand engulfing candles, pin-bars, reading candles to figure out whether bulls or bears have control over the market at a given time. But I find it limited in its ability to help me trade. Engulfing candles quickly turn around and prove false. Pin bars pretty reliably lie to me. And figuring out whether bulls or bears have control can only really be done after you have a few candles. And at that point the movement is already over and any room for profit seems to have already passed. So what am I missing?
Experience & knowledge. This is what you are missing; period.
  • #1,099,245
  • Mar 26, 2017 9:22am Mar 26, 2017 9:22am
Quoting Teek
{quote}You miss to read and undertand some really good traders posts on this form and you miss to think about it instead of arguing all the time.
I've engaged in one actual argument on here. Voicing your experiences and perspective isn't arguing. Asking what I'm missing couldn't be further from arguing. It's asking what I'm missing. It's accepting that I'm not getting something, and asking what it is. Why do you equate that to arguing?
  • #1,099,246
  • Mar 26, 2017 9:22am Mar 26, 2017 9:22am
Quoting Teek
{quote} I spoke about a slow collapse of the USD. Not the Euro. I also spoke about "longterm", not shortterm. Perfect example of "I want this guy to be wrong". Well, in this case, I want me to be wrong too but I'm afraid I'm not...
Usually they want you to be wrong because their view opposes yours, if that's the case then obviously they want you to be wrong ?
  • #1,099,247
  • Mar 26, 2017 9:23am Mar 26, 2017 9:23am
Quoting tstivers
{quote} I've engaged in one actual argument on here. Voicing your experiences and perspective isn't arguing. Asking what I'm missing couldn't be further from arguing. It's asking what I'm missing. It's accepting that I'm not getting something, and asking what it is. Why do you equate that to arguing?
I think it was referring to you saying fibs are wrong etc etc
  • #1,099,248
  • Mar 26, 2017 9:29am Mar 26, 2017 9:29am
In my case, what you perceive as arguing is me trying to validate or invalidate your point. If there's one thing I think we can all agree on with forex, it's that for every person who knows what he's doing, there are 10 people that either have no clue, or are trying to sell you snake oil. Arguing against your views is not a bad thing. If your views are valid, then you should be able to prove them valid. If you take offense to someone challenging your views, then there's a good chance your views aren't correct.

Someone who wants to sell me a "guaranteed system that will double your account in 30 days" would take offense to me challenging the validity of his system, too. So if your system is valid, don't take offense to someone challenging it. If you've already validated it in previous posts and don't want to repeat yourself, link them. But anyone who blindly follows the preachings of someone who claims to be successful on an internet forum without making any effort to validate that person's claims would be a complete fool.
  • #1,099,249
  • Mar 26, 2017 9:35am Mar 26, 2017 9:35am
Quoting Don96
{quote} I think it was referring to you saying fibs are wrong etc etc
I still think they're wrong when it comes to predicting retracements/extensions in a trend. I tried them in that way for a week and met zero success with them. But I can see their use in finding support/resistance levels. And I'll probably start using them for that because it makes my life a lot easier when it comes to finding support/resistance zones.

Perhaps the other use is valid as well, and the market conditions just weren't right for that use. Like I said in my post above though, arguing against them wasn't to definitively say they were wrong. It was to validate or invalidate them. I've invalidated the idea that they're utterly useless, because I can see their use in finding support/resistance zones.

The point is though, I'm arguing not to say you're wrong. I'm arguing to gather evidence one way or another.
  • #1,099,250
  • Edited 10:22am Mar 26, 2017 10:06am | Edited 10:22am
Quoting tstivers
{quote} I still think they're wrong when it comes to predicting retracements/extensions in a trend. I tried them in that way for a week and met zero success with them. But I can see their use in finding support/resistance levels. And I'll probably start using them for that because it makes my life a lot easier when it comes to finding support/resistance zones. Perhaps the other use is valid as well, and the market conditions just weren't right for that use. Like I said in my post above though, arguing against them wasn't to definitively say they...
I have you evidence, a week of data of improper use is never going to get you anywhere, if it was that easy to money most on here would be billionaires and everyone would be trading forex

I gave you examples of how they turn the market on h4 and m5... how can you still say they don't, I even posted my entries...
  • #1,099,252
  • Mar 26, 2017 10:14am Mar 26, 2017 10:14am
Quoting yongsien
{quote} I mean this March and April Teek. I think EU still will rise to 1.0870 area first then collapse to support 1.0068 Next week forecast, what do you say?
For the long term (months and years), I think the EUR/USD will go up for a number of reasons:
- the ol' "what goes down, must come up" wisdom of the ages; since 2014, EUR has dropped like a bag of rocks; I know, not exactly a scientific reason, but, still... it just feels like it should go back up.
- holding it from rising are the French elections, and low interest rates. Ultra-nationalists seem to be losing ground in Europe, and ECB is putting feelers out there for a rate increase before the end of their quantitative easing. Plus, a number of routine economic indicators coming from Europe lately have been positively exceeding expectations.
- Trump is pushing for a stronger Euro

I think Monday/Tuesday, the EUR/USD will drop a little bit, perhaps 1.0750-770, and then rush the 1.0825-1.0840 resistance lines, and stopping around 1.087 for the week. So, roughly 100-120 pips higher by Friday. Afterwards, it will continue to have a net rise over the coming weeks and months.

Just my two cents, which, I'll use to go long on the EUR/USD. Actually, I'm already long on the pair since Friday's 1.0802, thus, the opinions presented are probably biased.
  • #1,099,253
  • Mar 26, 2017 11:06am Mar 26, 2017 11:06am
Euro/Usd-- bearish 3 drives in attachment -1 and approaching to Impulsive harmonic failure weave at 113% of recent long run @ 1.0881 to 1.09 which is strong resistance and support also Attachment -2 , daily chart is extremely overbought and struggling below 200 EMA attachment-3
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 78 KB

Expect down fall to start.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 73 KB
Click to Enlarge Name: Screenshot3.png Size: 60 KB
  • #1,099,254
  • Mar 26, 2017 11:08am Mar 26, 2017 11:08am
Quoting Trg8472
{quote} For the long term (months and years), I think the EUR/USD will go up for a number of reasons: - the ol' "what goes down, must come up" wisdom of the ages; since 2014, EUR has dropped like a bag of rocks; I know, not exactly a scientific reason, but, still... it just feels like it should go back up. - holding it from rising are the French elections, and low interest rates. Ultra-nationalists seem to be losing ground in Europe, and ECB is putting feelers out there for a rate increase before the end of their quantitative easing. Plus, a number...
Add to that the fact the USA is due for a recession by 2019. And it's in Trump's interests to make this recession happen sooner rather than later, so that he can take credit for "fixing" it towards the end of his term and have a hope at re-election, rather than having the recession hit in the last years of his term and hurt his chances of re-election. So in my view, it's pretty likely we will see a recession in the next year or so.

Although the EUR/USD probably wouldn't be the best pair to trade, as EUR is going through it's own issues with Brexit. Ideally if you're looking to profit on the recession, you would want to pick a currency that has a very strong economy to trade against the USD.
  • #1,099,255
  • Mar 26, 2017 11:27am Mar 26, 2017 11:27am
Quoting Don96
{quote} highly un-likely if you think that EU goes to 1.0870 then down 800 pips next week... unless something serious pops out the woodwork... i'm wondering why you think it must visit 1.0870 first? not saying it wont, just wondering why you think it must do so before a drop.. Hilmy pointed something interesting out in the grand scheme of things, if the trend is changing perfect circumstances would lead to this... {image}
Just looking at your chart- could end up as a batman

Or as gator calls a 2 humper

or of course the more traditional triple top
  • #1,099,256
  • Mar 26, 2017 11:33am Mar 26, 2017 11:33am
Quoting tstivers
{quote} Add to that the fact the USA is due for a recession by 2019. And it's in Trump's interests to make this recession happen sooner rather than later, so that he can take credit for "fixing" it towards the end of his term and have a hope at re-election, rather than having the recession hit in the last years of his term and hurt his chances of re-election. So in my view, it's pretty likely we will see a recession in the next year or so. Although the EUR/USD probably wouldn't be the best pair to trade, as EUR is going through it's own issues with...
NORWAY's economy is strong but it never beats the dollar. Has a horrible spread also.

I wonder if EU will gap up considering how it closed us session and recovered 50% before all forex brokers close.
Let us talk forex.
  • #1,099,257
  • Mar 26, 2017 11:37am Mar 26, 2017 11:37am
Quoting Don96
{quote} I have you evidence, a week of data of improper use is never going to get you anywhere, if it was that easy to money most on here would be billionaires and everyone would be trading forex I gave you examples of how they turn the market on h4 and m5... how can you still say they don't, I even posted my entries...

I am amazed with your patience, why do you insist on a hopeless case mate? Let him be, fed up with seeing his crap over and over again.

He either wants to make a scene or wants you to spoon feed him. His approach if he wants to learn anything here is far from right. When you keep responding he will never stop you know that right?
  • #1,099,258
  • Mar 26, 2017 11:38am Mar 26, 2017 11:38am
Quoting tstivers
{quote} Add to that the fact the USA is due for a recession by 2019. And it's in Trump's interests to make this recession happen sooner rather than later, so that he can take credit for "fixing" it towards the end of his term and have a hope at re-election, rather than having the recession hit in the last years of his term and hurt his chances of re-election. So in my view, it's pretty likely we will see a recession in the next year or so. Although the EUR/USD probably wouldn't be the best pair to trade, as EUR is going through it's own issues with...
If you make an excel spreadsheet, and put all of the economic releases on it for the last 5 years- you'll see that US is not anywhere near a recession
  • #1,099,259
  • Mar 26, 2017 11:40am Mar 26, 2017 11:40am
Quoting Prospect
{quote} NORWAY's economy is strong but it never beats the dollar. Has a horrible spread also. I wonder if EU will gap up considering how it closed us session and recovered 50% before all forex brokers close.
Disregard. I was reading your statement wrong...
Que
  • #1,099,260
  • Mar 26, 2017 11:50am Mar 26, 2017 11:50am
Which website can be used to get quotes of premarket gap? Thanks in advance.
Let us talk forex.
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