Most people here aren't 'Traders'. Well not in a live account. You will look back and see their recommendations, and it is clear to see that they were bad, which is why they spend more time posting on forums, looking for someone to tell them 'manage my account'.
Yeah, that's what I see too. So much crap in here and predicting market with stuff that does not mean much. You cannot foretell market direction because of some MAs or even FIBs. You have to judge what the big players will do and where THEY will drive the market and the only thing this can be done is by studying a lot about fundamentals and getting a good payed newsfeed so you get these important news and comments that they trade at the same time they get it ... Then and only then can you take your technical lines and look for a good level to enter the market in the direction you know it will go now sooner or later ... If you don't believe me read my post again after the NFP release :)
For next week I will go for Gold weakness and from now on I will look for more selling on USD/CAD.
A good level to sell this pair would be 1.240 to 1.245 should we get there. Oh and any real and meaningful stop has to be above the DRPO sell now because only when this is erased(what will not happen to 95%) the downward action is no longer valid.
Oh one more thing I used to make good profit the last weeks ... Go to the outlook here and if you see a pair with 30% or better even 20% one direction and 70 or 80% other direction then trade with the 20 or 30% :P
The EURUSD is still really consolidated between the 1.05 and the 1.1000. I could stay in this range for quite some time, unless the fundamentals from the US start getting better and make the pair keep dropping.
When trading any market (including forex) you have to ask yourself - who can you trust!
Can you trust the media? - NO (manipulation) Can you trust fundamentals? - NO (it is manipulated information) Can you trust indicators? - NO - they are delayed information, they never give you exact trade-entry prices. Can you trust someone's judgment of the markets (including your own)? - the answer is NO!
So - who or what can you trust when putting your money at risk? It is the EMOTIONAL REACTION of all traders combined, who react to the market-makers' price dictation!
These emotions never change - and therefore you can trust them. Just look at yourself - you always react to price action - you never ACT! Why? Because you don't have enough money to manipulate prices - it's that simple. You would need BILLIONS (not millions) to do so - and you just don't have that kind of money.
PRICE BAR FORMATIONS derive from the EMOTIONAL REACTION of all traders combined in a market, to the price dictation of the market makers and operators.
And therefore you can trust PRICE BAR FORMATIONS!
There are 3 types of price bar formations: MAJOR - INTERMEDIATE - and MINOR trade entry signals. Historically - they have a high rate of success. You can go back 30 year in chart history and you will see the same formations as you see today - they have not changed at all. Why? Because traders today react the same way to market makers' price dictation as they did 30 or 40 years ago.
I am talking about PRICE BAR FORMATIONS and NOT CHART FORMATIONS (chart formations are just visual aids - like 'head and shoulders' - and in the end give you nothing!)
Only with price bar formations you can (with some practice) trade any market and eliminate 100% any emotional involvement.
You start trading 'what you see on the charts' and NOT 'what you think' about a market.
ПРЕДУПРЕЖДЕНИЕ О ВЫСОКОМ УРОВНЕ РИСКА: торговля иностранной валютой связана с высоким уровнем риска, который может подходить не для всех инвесторов.
Кредитное плечо создает дополнительный риск и вероятность убытков. Прежде чем принять решение о торговле иностранной валютой, тщательно проанализируйте свои инвестиционные цели, уровень опыта и толерантность к риску.
Вы можете потерять часть или все свои первоначальные инвестиции. Не вкладывайте деньги, которые вы не можете позволить себе потерять. Ознакомьтесь с рисками, связанными с торговлей иностранной валютой, и обратитесь за советом к независимому финансовому или налоговому консультанту, если у вас возникнут вопросы.
Любые данные и информация предоставляются 'как есть' исключительно в информационных целях и не предназначены для торговых целей или консультаций.
Прошлые показатели не являются признаком будущих результатов.