So those are trailing stops? And you now have a locked in profit on both…nice! 
1 Like
Hey all, something to look at is we are in a third wave down at this point, I am not talking Elliot waves just simple waves, if you look at the 1hr, it is very clear. So it might just be consolidation from this point on today.
The Ever Riding The Waves Of The Great Material Continuum VIPER
Well, Early Luuuuunch Baby. Cancel all, and done till Moanday.
The Ever Dancing Like Snoopy VIPER
1 Like
Interesting thing today on eurx - a news site was stating that there was a reversal being led by the techs.
There was a heads up from FA quite early in the day that there was a reasonable chance of same.
The German unemployment numbers were a huge surprise to the upside, -9k last time, -10 or thereabouts expected, came in at -23k
I mentioned before the thing about German numbers and the Euro.
Wouldn’t be surprised to see some Euro buying next week.
2 Likes
Seriously? You need to watch out for Viper’s Fang, he will be preaching all over you about buying context soon enough. 
EURUSD
Resistance : 1.16501 (Major Swing high level / Supply level)
Target’s projection : 1.15299 (Fibo 161.8% ???)
Yesterday, I booked the profit by closing 0.10 lot of each open position and let the remaining run till hitting the SL.
But, I think I should have been switched to 15M TF as soon as the retracement was started on 1H TF to avoiding the loss of unrealized profit before hitting the SL.
@anon46773462 What is your opinion on it?
Here is the summary of both the trades
Hehe, I’ll keep a close eye, if fangs get rough I’ll get out.
Interesting your chart because the focus is to the right, especially the bottom portion.
On FA, upcoming week German Unity day is Wed so could be a week of two halves.
Usually Mon is a TA day, but Retail sales coming up - might not be earth shaking, but imagine if positive added to previous weeks employment numbers.
Then again USD mftcr numbers, reasonable chance of positive.
On Tue chin wagging from the Fed… first thing I do is look at USDX, then think is he happy with a rising USD or not.
Wed is hump day so time for a breather, maybe time to think about NFP.
Thurs is TA day, whatever momentum may bring, likely muted because of the upcoming first Friday.
That’s my lines on the right, buy a little euros 
Hi @anon58863749 and congrats on a nice set of trades.
With regards to the question of whether to switch to a lower TF or leave it to hit the SL depends, in my opinion, on what purpose the trailing stop is meant to serve.
I think stops can be treated in two different ways:
Either as an integral component of the trading strategy such as maintaining a pre-set R:R or in “set and forget” or as an exit alternative in the form of a trailing stop and no limit.
Or the stop is there purely as a protective measure and not intended to be activated except, for example, in the event of an unexpected extreme move or to lock in some profits after a substantial move, and even allowing increased positions without additional risk.
In your case, I think your trailing stops served their purpose in locking in a profit, but whether you could have exited earlier at a better level using the 15m TF really depends on the purpose of your 15m method. If it is a standard part of your trading method then it would have been better, but if it is not a standard component then it is not really so relevant since it is always possible in hindsight to find something that one could have done to get better result in a particular situation!
In brief, it is about knowing the role of your stoplosses and what are your exit strategies. If it fitted those as intended then everything was, and is, just fine!
2 Likes
Thanks Manxx for your detailed response.
1 Like
Sorry for the late reply. I was trying to gather reliable and authentic articles regarding the FX manipulation and on Stop Hunting.
Here are few links, perhaps you do have interest to read them.
Ok, so if we really want to discuss this, quoting articles from people who we just happen to agree with can’t be part of the discussion, only personal experiences and solid proof.
So, as far as large scale manipulation, yes it can happen. But what we are theoretically talking about here is front-running customers orders by trading before the fix was set, now there was a lot of talk in private chatroom’s, sharing prices and order sizes, it was all about moving size to make pennies on units. Now there could have been stops taken out, yeah maybe, but that was not the point. So the point of all of this was to “manipulate” to make pennies. A couple of trades did make three figures, but the fines will be far more than what they made.
It was never about “Running” stops or going after $100.00 micro accounts.
So now Suf, please give us your personal experience in stop running, and other manipulation. Charts, blotters etc. would be great.
The Ever Seeking Reality VIPER
One of the advantages/disadvantages of such almost universally used technological charting tools is that it tends to focus, advertise and concentrate interest on far more specific levels than would otherwise be the case. This means that these levels will inevitably attract an abnormally large number of orders for new positions, limits and stops.
This concentrating of orders is further accentuated amongst small retail traders whose limited equity resources, by definition, also means that their stops are positioned within close proximity of such levels.
But in trading, whether you are a major trading house, corporate or $10 retail trader, wherever you are in the world, we are all looking at the same moon.
Big game hunters do not set mouse traps.
If you build your sandcastles too close to the waterline do not blame the moon and the wind when the tides wash them away…
4 Likes
Hey all, very choppy today, need a break and base above 1622 for any longs.
Remember context rules every opinion drools 
The Ever Cautious VIPER
2 Likes
Here is what is moving and shaking, NAFTA agreement with Loonie, Italian financial weirdness. we might be headed for another leg down.
The Ever Loaded For Bear VIPER
1 Like
Hi Manxx,
I know i’m extremely late out on this one but, is there any more info on the Swiss chocolate factory a la 1980’s, sounded very interesting?
Win
Hi Win!
The Euro has been relatively stable for some time now and there really hasn’t been too much to say about it. So, instead of writing nothing I changed the thread title and scope to cover, well, anything! But with a leaning towards EURUSD and other Euro pairs as and when.
Right now I am thinking…when the Brexit referendum was carried out did anyone, anywhere, think how this would cause such a problematic issue as a short EU/UK border across the Isle of Ireland between the Republic and the British Northern Ireland? No one wants a hard border, but how do we deal with it without. Is this the issue that will lead to a no-agreement exit?
How the British nation has suffered and, probably, become totally frustrated/bored with the whole Brexit issue. There were many serious issues behind the referendum, but I doubt the Irish question was one of them. We’ve been waiting a long time for EURGBP to become a normal, tradeable pair - still waiting.
But there’s still money in those golden oldies. EURUSD looked good for a buy this morning and produced a nice 30 pips start to the week. I am back in on a small pullback and the pair has now frozen solid…maybe it was a bit too premature. We are again stuck between the 1H and 4H 200-period MAs. We’ve been in this situation before…
Last weekend was the start of the elk hunting season (I am not a hunter). Driving has severe additional risks when the elks are on the move and crossing roads. Collisions are often fatal (and not only for the elks!). But the weekend weather was superb and, although I don’t trade gold, I appreciate nature’s autumn gold glowing in the sunshine…
1 Like
What are your thoughts of the impact that outside, social-media influence had on the Brexit vote? Had the Facebook, Twitter, Google and others been more… reactionary to what others were claiming was going on, would we still be where we are right now?
I’ve driven through Bavaria and South Western Germany (German Wine Route - Wikipedia) many times during the fall. Lovely time of year, much like Boston, MA and a bit further north into New Hampshire. They’re into the peak fall foliage about now.
Interesting map about the changing leaves in the US:
1 Like
Hi @mtb_rex!
thanks for that link, there is some really interesting stuff in there! I had never really thought that the autumn colours are the true leaf colours and that it is the Chlorophyll that drowns out these colours into green! 
The frustrating thing about the Brexit referendum was that the result was so close - too close to be termed an outright conclusive opinion. It was further aggravated by being based on a number of serious and deep-seated concerns amongst the British public but which were each independent issues and not purely an overall yes/no question about being in the EU or not.
I am sure social media did have a significant impact on people’s thinking, as it seems to have in many fields nowadays, but whether it was a decisive influence I wouldn’t really like to say, it is so hard to quantify!
I think the UK has always had a rather distant relationship with mainland Europe that goes back centuries, and it values its independence greatly. I doubt Britain would ever relinquish its sovereignty or its currency to a federal-style EU, dominated by Germany/France. So when the temperature of issues such as immigration starts to rise, the UK will always demand the right to settle its own problems rather than be dictated to.
I think it is a great pity that Brexit is happening, but I am not totally surprised - and I am certain that both the EU and the UK will survive and prosper in the future as they have in the past…
As the leaves of the old summer fall and reveal the bare branches to face a cold winter, so will that winter be followed by a new spring that will bring new foliage to both regions. 
3 Likes
According to the BBC news, we are entering a 48 hours critical stage in the Brexit negotiations. The focus is mainly on the stumbling block of how to deal with the Irish problem of having an EU/UK border between the southern Republic and Uk’s Northern Ireland.
Theresa May is still positive about a deal being reached with the EU whilst EU officials are saying that a no-deal exit is “more likely than ever before”.
It does not help that Theresa May does not just have to satisfy the EU members, but she also has to gain approval from the Irish-based Democratic Unionist Party that is helping to prop up her minority government against the opposition parties.
Theresa May is talking with senior EU officials today ahead of the major European Council meeting tomorrow (Wednesday) concerning Brexit. This precedes the European Summit on Thursday 18th, which had originally been seen as an occasion at which a deal could be reached.
GBP-based pairs are likely to see some reactions to any rumours and statement over the next two days…
Yesterday, the EURUSD failed to break above the 4H 200SMA (or EMA, which is also widely watched) and I scratched my re-entry long position in anticipation of lower levels today, which we are seeing here in early trading.
The charts still show the remnants of an upward bias but it is slowly fading. The Euro against other currencies is also looking pretty neutral right now, except maybe against NZD.
The EURUSD chart shows us still marginally above last week’s Friday close at 15,567 and likely to test that today. We are ranging now, pincered between the 4H 200SMA (blue) and the 1H 200SMA (red):
4 Likes