I have a red arrow here on H4, some resistance showing up and upper tl. Clear sign for eurusd going tanking for a while.
newb question: why cant you pick tops or bottoms? or if not the topmost top, top “areas” and bottom “areas”. hmmm…sure hope my post doesn’t get censored!
That drop to 1.4360 took out my trade, walked away with only 12 pips 
But better play safe in this enviroment. Looking for a better entry point once the price settles and is more room to the upside…
Well, better out too soon than too late. Lol! Congrats to your 12 pips! I missed several big moves, just because I got stopped out. Do I care? No. I prefer to risk only small amounts. Yesterday I did not get stopped out and I got around 100 pips. I had around 2% risk and now my account is up 7% or something like that, lol. Patience, patience, patience. Did I mention patience?
The good thing with going out “too soon” is also: You can then look at the chart with another viewpoint. Not “in” anymore, you can objectively look for new opportunities.
I got out yesterday at around 14380. You see? I missed a few pips, but it’s “war” zone right now. High risk you get hit by a bullet! :o
Just to append that; With stopped out I meant stopped out with a small profit. Like yours now of 12 pips. My last ride yesterday was another one of those where I went in with 2%, setting it to break even +peanuts and where I got the full move instead of stopped out at peanuts, lol. That’s a tighter risk control than you let it run and you might have some “peanut” trades, But you will hardly have big losses if your stop is at a reasonable point and you did hour homework right.
you can’t know if it was the top or the bottom untill after the fact. Go ahead try it. If you say this is as high as price is going to get today then how do you know it wont just go higher? But yeah you can pick the top ‘area’ or the bottom ‘area’ and that’s usually good enough. 
So my next question is obviously going to be: “How do you pick top ‘area’ and bottom ‘area’?” I’ve noticed that indicators like stoch and RSI are not consistent in that they dont always cross the commonly accepted ‘threshold’ values for overbought/oversold conditions (i.e. 20-80, 70-30)
Oh, and thanks for replying
Bouncing at R3 today? Well, this looks interesting. In again with long for a few pips, lol.
edit: Well, 20 cents is better than nothing, lol :54:
bring up a daily chart put a 2 period moving averag set to the high of price and another one set to the low. this forms a tunnel. When price has covered most of it’s daily range and is at or near one of these MAs then that’s going to be close to the high or low. Sell the highs and buy the lows. When I’ve done this I often get in a counter trend trade but it seems to work out pretty well most of the time.
Back to EU trading. This is a long TF thread but… Short time frame, Asia has had some good moves lately.
Yea, but those bulls seem to get exhausted. 20 pips and that’s it for tonight. Sure it could go higher, but …
… we are talking about the bears last resort.
So, we have a new m candle. Fresh info food. That means, May is not engulfing. One reason more to go long. Plus without looking at fibonacci tools I can see that with my bare eyes that this is something like a 6x% retrace if I take the o/c prices from the last 2 months. Another reason to go long. No?
Back on board…
I will play it with a tight stop… too much uncertainty…greece, spain, ireland
Well, forget the piigs The piigs are old news from last year. That was sell in May and now we get tune in June. The euro is worth just 0.5 bucks. But that’s not what investors like to hear, so its at 1.44 now, going higher. The financial world is a big blunt crazy kindergarten.
I do however think it will go a little down before it will break really through. Or if it breaks through it could bounce and come back. Prices move seldom in straight lines. Yea, we have another flag. But if it all would be the same all days we all would be trillionaires. That’s not possible. Expect the unexpected. Some are too greedy already. I can smell that.
I don’t know what to do so I stay out. That’s a position. I wish however, that your trade works! Good nite!
Good afternoon together.
How went your trade so far yunny1?
What do we have? A bot trade which I guess will become a loser. But my bot is self regulatory. Like the markets. That’s why he probably makes money, lol. Oh, no. Now he went into the zone. I mean the profit zone, lol. But as it will run for a little while this can also go back quick to the minus zone. Okay, it is changing fast. The price. News time. I go for a coffee and will come back later to look what my cuddle bot is doing. It’s a long btw. Then I will look what new crazy info I can see today in reading charts.
I closed the trade at 1.4430 (+60 pips) before i went to bed… didn’t like the price action and the overbought levels in the 1 hour chart… Today I will wait for the ISM report before enter again. I may buy again in 1.4350-1.4370 area…
60 pips is nice!
My bot made 10 pips loss. But I didn’t follow how he did that, so I am emotion free, lol. A whopping 0.x% loss in my account. I’ll quit trading now. No, kidding, ha ha.
Yea, if I look right now at the situation eurusd broke the 14350 but not the 14450. Which is last bear resort. Last resort means that is a hard nut to break. I do not believe that will work quick and not without going lower a bit. Maybe more than a bit. And nobody knows the future. 70:30 probability long means there is a serious 30% risk of going down still. As long as it won’t break that nut at last resort there. Is tommorrow nfp day? That might bring some decision action.
No, [B]N[/B]ewbie [B]F[/B]unded [B]P[/B]ayout is 8:30 EST Friday AM
Yea, you are right. I thought today was Thursday, lol. Thank you. Newbie Funded Payout? LOL! I never heard that abb. anywhere before. 
US data doesn’t look well, huh? I am still in my 1xx pips trade. Maybe it will become a xx trade or a xxxx trade, lol. Who knows?
edit: Well, letz find a new entry then later, lol.
Red arrows.
Not those red arrows:
So, is this resistance broken or not now? Who can tell?