Did you close all of your EUR/USD trades? Or do you have one on right now?
Honestly speaking, I should have placed my SL lower to include recent candle shadows. But I didnāt and I got scared to move it down.
So, I closed. And of course, the next day is goes up. On the W1 none of the candles have closed below the MA20. So the MA20 is holding.
And on the D1, thereās a lot of consolidation. Itās definitely about to swing up.
I want to jump back in but the fear is getting to me.
Hate that.
Looking at the 1D though looks like itās just consolidating. I donāt like trading things like this because they take forever and a day to get any action lol. Meanwhile USD/CHF though.
Yeah, Iām long USD/CHF. I was short until it broke out of that downward channel.
But EURUSDā¦look at W1. Use the MA20. Itās holding for sure.
The candles canāt close under it. So, that tells me the MA20 is strong and the trend is respecting it. Also, since Biden took office the USD is dropping. Hence, people moving money out of the US.
By the way, the next candle is green on M1.
Oof. Looked at both 1W and 1M and truly something I still wonāt be able to trade. I canāt tell where this is going
Yesā¦Long on Dollar Weakening at this Juncture
yes. Totally agreeā¦waiting for the next 700 pips swings
If you look at the M1, you can see the break out from the 12-year old channel.
Also, on the D1, the MAs have come together. I use the MA 20, 35 and 90. They have come together, which means there has been some very nice consolidation. If you look at any pair, when you see these three MA together, a big swing follows.
Iām trying to switch to trading the W1 to filter out the daily noise. However, I still give in and look at the D1 often. Iāve been tricked by the daily noise and closed out my last long position. Big mistake.
But Iāve opened it again with a wide SL at 1.1942
EUR/USD just broke out of itās range on W1. Itās bearish for now. I think itās gonna bounce the MA. I got stopped out.
Now, Iām just observing.
Actually, Iām considering placing a trade for that MA bounce. I doubt itāll move much today, Itās Friday. People are thinking about their weekends.
I tried to trade the range long, but I got stopped out again. I feel like Iām trying to pet a defensive dog that keeps biting whenever your hand gets close. Haha. What happened was that I forgot to place an OCO. If I had placed an OCO, I would have gained a few pips going short.
I think Iām gonna wait until Mondayā¦
Oh man. I think the fear is getting to me. I canāt tell if itās fear (emotional) or caution (logical) that Iām feeling.
I think itās fear mixed with FOMO. Perhaps, itās time to just step back and watch EUR/USD for the dayā¦
Itās a new week! How are you feeling about EUR/USD?
Iām staying out for nowā¦
Iāll take a look and see tomorrow. But I still think itās pulling back to continue bullish.
I actually have this pair as more bearish than it has been recently. It is due to pull back from its downleg - 4 consecutive lower daily closes is more than average for this pair in a downward move.
But I only rate it as about the last choice for a trade out of the big 28.
Anyone here short USDJPY?
Actually I have marked USD/JPY as āVery Bullishā and expect to set a buy order this evening assuming price continues to indicate a lower daily close.
Oh wow. Still? I was thinking itās time for it to retrace. Ah good thing I hadnāt placed any orders yet!
I wanted to place an order, but I had too much going on. So, I decided to sit that one out. Itās been in a down channel since 2014. It may be trying to break out. Perhaps too early to place an order.
Multiple pairs are following the same breakout trend. USD/CHF, EUR/USDā¦
Did you get in @tommor?
Do you have any trades open at the moment? I got in that USDJPY trade lol weāll see.