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shellsnail commented Jun 2, 2015A great example of this, if you scroll back on the monthly chart is around 2002 November. price was in a clear uptrend but had 3 months of downward price movement spanning 1000 pips before resuming with its move. Coincidentally, it's at the exact ...
Dijsselbloem says creditors still far from a deal with Greece
- shellsnail commented Jun 2, 2015
if 4H chart breaking trendline and forming HL, HH with such strong momentum up does not represent a change in trend then I'm not sure what does. Whatever method you are using is going to lag severely when trends actually turn.
Dijsselbloem says creditors still far from a deal with Greece
- shellsnail commented Jun 2, 2015
I agree with you completely, but it doesn't mean eurusd can't hit 1.18 or 1.2 before that happens. So unless you are long-term monthly chart trader, you can't fight the trend which has turned now.
Dijsselbloem says creditors still far from a deal with Greece
- shellsnail commented Jun 2, 2015
All this talk about Greece is just fluff. It's false alarm all along. Greece will not default anytime soon. The panic will come back the next time Greece has a repayment due and by then fundamental factors will have driven euro to be at 1.20 and ...
Dijsselbloem says creditors still far from a deal with Greece
- shellsnail replied Jun 2, 2015
Looking for longs further down... imo the daily high is not in yet.
Testing High Leverage Compounding
- shellsnail commented Jun 2, 2015
Retail and many players expected institutional orders at 1.107x. It's such an obvious level. But institutions and big players have already bought below and are long and not selling and holding long-term. All the selling from retail gets taken out ...
Dollar Flash-Crashes On Sudden EUR Spike Amid Carnage In Bunds
- shellsnail commented Jun 2, 2015
Lots of margin calls is the catalyst lol.
Dollar Flash-Crashes On Sudden EUR Spike Amid Carnage In Bunds
- shellsnail commented Jun 2, 2015
This is not the reason for the up-move imo... This is just adding fuel to the fire. The fundamentals have shifted/ are shifting for the eurozone. As things start improving further expect to see further upside.
Greece: We now have agreement among Troika on proposal - EU source
- shellsnail replied Jun 2, 2015
Looks like we did get our "double bottom" in euro lol, only not at previous bottom but at 1.088. The changing fundamentals play... Always a good one. This should run to 1.18 over the coming weeks and provide lots of intraday opportunities to the ...
Testing High Leverage Compounding
- shellsnail replied Jun 2, 2015
Why intraday loss limits need to be respected One word: scalability. If you can't have the discipline to respect intraday loss limits or weekly loss limits, there'll eventually come a time when your account is large and you hit that limit but decide ...
Testing High Leverage Compounding
- shellsnail replied Jun 2, 2015
Doing well with my goal today. Also, learnt 2 things about discretionary trading. 1. Don't use entries that I am not comfortable or familiar with like the one in EJ, stick to the stuff that I know for now and try to learn one thing at a time. Now ...
Testing High Leverage Compounding
- shellsnail replied Jun 2, 2015
9:30 AM Stopped out on GU on both accounts. The FXTM execution sucks balls and gave me lots of slippage. Will never trade a large account with them live. For my R2R account on IC markets, I took a relatively normal hit and my SL was respected. ...
Testing High Leverage Compounding
- shellsnail replied Jun 2, 2015
EJ Update 8:30 AM Entered with 1.3% risk when price appeared to have stabilised and made a false break-out on the 1 minute chart. Also the .600 level provides a good SL for a very reasonable RR despite the shitty 3 pip spread. Didn't work out. A ...
Testing High Leverage Compounding
- shellsnail replied Jun 2, 2015
GU and EU diverging as expected... watching GU for sells on pullback.
Testing High Leverage Compounding
- shellsnail replied Jun 2, 2015
EUR/JPY Long Updates 7:35AM Removed TP because price seems to have reacted ahead of the intraday high. This suggests either a reversal or it's already in the retracment stage. Either way I should be thinking of scaling in with a momentum play right ...
Testing High Leverage Compounding
- shellsnail replied Jun 2, 2015
A+ Set-up on EUR/JPY. False break-out on 5 min chart + Support area + Frankfurt Open + Trend/Trend play + Fundamental news alignment. First target reaction high. Scale in after that. 2nd target is ~100 pips or jumping stop.
Testing High Leverage Compounding
- shellsnail replied Jun 2, 2015
Lesson 3: Make Friends with Your Weakness "When you experience a horrific trading day, give it voice. Talk it through and sear its lessons in your mind. If you're in touch with how badly your trading makes you feel, you're least likely to repeat ...
Testing High Leverage Compounding
- shellsnail replied Jun 2, 2015
Pairs in Focus Long EUR/JPY Long AUD/USD Short GBP/USD (on news) Long EUR/GBP (on news)
Testing High Leverage Compounding
- shellsnail replied Jun 2, 2015
Fundamental Review for Trade Ideas ## AUD June 1: AIG Manufacturing Index: 52.3/ - / 48.0 June 1: MI Inflation Gauge m/m: 0.3%/ - / 0.3% June 1: Building Approvals m/m: -4.4%/ -1.7%/ 2.9% June 1: Company Operating Profits q/q: 0.2%/ 0.1%/ -0.4% June ...
Testing High Leverage Compounding