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EURUSD has gained +192 pips this week again. 3 weeks making higher highs and higher lows. Not bad, isn't it?
And now pundits are deleting all they said about eurusd bearishness.
I've been euro bullish for more than a year now. And I'm still bullish. Will eurusd finish its amazing rise someday? Yes, it will. But we need first to see USA coming out of their bad fundamentals. And we need to see Germany going downtown. While Germany keeps doing well and oil above $100, I do not see any reason to say euro will reverse. No way.
Sooner than later, we'll see a big sell off on commodities and euro will drop hard. And again, pundits saying bla, bla, bla...
It is very hard to make a living out of trading being a retail trader. Very hard.
I want to stress again that the more you focus on fancy indicators, the worst. Bank traders and brokers know those indicators much better than you. If I were a bank trader, I'd see the book with all buy and sell stops and position already taken with their stop losses. Easy for me to kill you and cash in nice money. That's what they do till a big one comes in and kill them too sometimes.
Learn to trade without any indicator at all. Focus on one single pair. Make a daily goal and close your platform once attained.
How many times your stop of 34 pips has been killed to see it goes to 35 and then back on your way? How many times?
How many times you waited for your fancy indicators to give a signal to see the very second after the price goes against you? How many times?
But you, we all, keep looking for the Holy Grail of the indicators. The more indicators you place on a chart, the clear a picture of your confidence will be.
Get rid of all kind of pundits. Get rid of the majority of indicators. Focus on one single pair. Study it. Stare at it all day, week long. Look at its hourly range. Try to find how many times after an hourly move tends to close very near to the open of that hour. Try to find its cadence: how many pips up; how many down on each movement and so on....
Sorry for the length of this dissertation. But I begin to know why 95-98% of retail forex traders lose all they have. And I get upset when I see the same mistakes I made and make to be repeated again, again and again.
All pairs have a moment during the day that will give you pips for sure. Try to know that time on your favorite one.
About EURUSD:
Again, while above 1.5754, its way is to 1.5840. And then, we'll see. I think EURUSD will make a big move soon. It should be up and it should broke last all time high. There are only two single conditions: commodities and oil must keep where they are or make new highs and new data should not be deep in the red on EZ.
If both conditions are met, we'll see EURUSD above 1.6000 and then we'll talk about a coordinated central banks intervention. Though I think their line in the sand is at 1.6200.
Good luck!
__________________ Nina
We must fight on the winning side, not on the side we may believe to be correct.
That new system and chart was a joke. But what it is not a joke is what the majority of wanna-be-traders-wanting-to-make-a-living do.
Never mind, you are not going to believe what I say. That's why bank traders and some brokers make money and you lose it. As real as I say it.
How many times you got in a trade cause your indicator told you to do so or because you though it was a good support that broke just to see the price go some pips in your favour and then reverse with fury?. And then, your stop of 30-34-50 pips got killed? Why do you think this happens again and again and again?
OK, no more about that. Do whatever you like with your money.
__________________ Nina
We must fight on the winning side, not on the side we may believe to be correct.
That new system and chart was a joke. But what it is not a joke is what the majority of wanna-be-traders-wanting-to-make-a-living do.
Never mind, you are not going to believe what I say. That's why bank traders and some brokers make money and you lose it. As real as I say it.
How many times you got in a trade cause your indicator told you to do so or because you though it was a good support that broke just to see the price go some pips in your favour and then reverse with fury?. And then, your stop of 30-34-50 pips got killed? Why do you think this happens again and again and again?
OK, no more about that. Do whatever you like with your money.
I agree with you Nina, indicators are only waste of time and money.
So which one is exactly your trading method right now ? It could be interesting to know something more about.
Cheers,
Skyline
__________________ - Professional EA Developer - Visita la nuova comunità italiana sul Forex -> www.forexpertutti.it
I agree with you Nina, indicators are only waste of time and money.
So which one is exactly your trading method right now ? It could be interesting to know something more about.
Cheers,
Skyline
Hi!
No need of any indicator, but Pivots and Fibos. I use too CatFX50 to know where we are.
Look, today EURUSD opened at 1.5647. Pivot at 1.5668.
At 01:00 CET it made a high at 1.5663. From there it has been going down to 1.5488 right now. At 07:00CET, it broke yesterday low, closing above. I went short at Europe session open at 08:00 CET when it broke 1.5603. I closed it with +30 and waited for EZ data at 09:15cet. I let it spike up above 5600 and I shorted it at 5603 again. I closed it at +35. No more trading.
__________________ Nina
We must fight on the winning side, not on the side we may believe to be correct.
A new month is here and we all are one month younger.
EURUSD has lost 223 pips this week and 69 pips for the whole month of April. It is moving within a range of 500-600 pips. The long trend is clearly bullish.
Again we are listening all those pundits saying EURUSD is going to drop hard and that 1.0000 will be seen. Good. Next week, if NFP is bad, they will say the opposite; meanwhile they get paid each month. No problem.
As you know, I live in Spain. CPI in Spain is at 4.7%. CPI is, in Spain and everywhere, wishful thinking. Real CPI is much, much higher. Could you imagine ECB cutting rates with that CPI?
Will they cut rates? Yes, it could be. But not now.
1.5463-60 is key now. While above, its way is up.
__________________ Nina
We must fight on the winning side, not on the side we may believe to be correct.
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