Compare & Contrast with Christopher Lewis

Discussion in 'Journals' started by expiated, Oct 8, 2017.

  1. expiated

    expiated

    I decided to buy EURUSD, so I went to FX Empire to see what Christopher Lewis had to say. However, I haven’t seen much of him there since a week or two back when he called on EURUSD to rise, after which it began falling pretty consistently.

    I therefore checked to see what the other analysts at the site had to say...

    ScreenHunter_6650 Nov. 06 16.08.jpg

    Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis, thinks a potential long-term target for the current sentiment is 1.1280. That notwithstanding, at this time I’m hoping to profit from an immediate rise.

    David Becker says that Momentum remains negative as the MACD histogram prints in the red with a downward sloping trajectory which points to a lower exchange rate. I know I could be wrong, but from my perspective, EURUSD suggested it wants to go higher the moment it climbed above 1.1605

    James Hyerczyk seems to be one of those wishy-washy analysts who essentially says “if it goes up, it could go higher, but if it goes down, it could go lower.” No kidding! What about right now? I prefer to put it all on the line, so until and unless price drops below 1.1605, I’m calling for the pair to go higher

    Sylvester Stephen says the pair’s outlook remains bullish for the week. That’s all well and good, but once again, what about right now? I don’t want to get caught in a major drawdown situation. I need to know what price is likely to do from moment to moment, so if I’m wrong and all of these guys are right, that’s cool. I’ll get stopped out of my position at 1.1605.

    But if I’m right, I can pick up a few pips profit within the next 24 hours and not have to sit around hoping and waiting for the pair to eventually make its way all the way down to 1.1280.
     
    #31     Nov 6, 2017
  2. expiated

    expiated

    Stopped out at 1.1601...guess I was wrong, but it happens.
     
    #32     Nov 7, 2017
  3. tomorton

    tomorton


    I'm not interested in EUR/USD right now, its showing no convincing trending action one way or t'other, and hasn't for a while. But what were your own reasons for buying in?
     
    #33     Nov 7, 2017
  4. expiated

    expiated

    I interpreted price action as communicating that the pair no longer wished to continue south—at least not in the short term. The 1.1610 level struck me as a decision point, possibly offering me at least 30 pips profit right away if the exchange rate decided to turn north, but a fall below 1.1601 would scream that my premise was totally invalid and I should exit the position immediately!

    ScreenHunter_6653 Nov. 07 09.32.jpg
     
    #34     Nov 7, 2017
  5. tomorton

    tomorton

    Thanks expiated, I see your plan now, it was just me not seeing the short-term opportunity. Mind you, I still think its high risk (for me). I'd best stick to what I know.
     
    #35     Nov 7, 2017
  6. expiated

    expiated



    Given where I’m currently at in my development as a speculator, rudimentary as it is, I’m having to look for things to do to keep me interested and motivated, having now gotten the most basic concerns out of the way.

    I was thinking this could probably be accomplished by comparing my ideas with professionals and enthusiasts I have observed in the past with some amount of interest, such as A.J. Monte, Jim Roof, Stephen Whiteside, Christian Lewis and Cristian Moreno; so I was going to start a thread titled “Compare and Contrast,” but discovered I already had this one, which is very similar, but somewhat more limited.

    No matter however, I’m just going to continue with it, but include other individuals besides Lewis. I’m not going to argue with Moreno’s Call of the Day, but I will need to see my lines turn south before entering a short position (and indeed, I do recall him saying in the video something akin to waiting for a bearish candlestick or some sort of statement along those lines).

    Nasdaq futures:
    ScreenHunter_2707 Dec. 02 18.00.jpg
     
    Last edited: Dec 2, 2018
    #36     Dec 2, 2018
  7. expiated

    expiated

    I got an intraday sell signal at 7104.41 on the Nasdaq futures, but it switched to a buy signal this hour at 7044.77. To go all in short at this time however, I would need to see price drop to below 7982.79.
     
    #37     Dec 3, 2018
  8. expiated

    expiated



    I'll be watching to see if my NZDCAD lines turn south anytime soon. As for Moreno's call yesterday, on my charts the Nasdaq futures are intraday bearish again...as soon as the price dropped back down below 7040.36.

    I accidentally typed a 7 instead of a 6 on my previous post. At this time, a drop below 6992.16 is where I'd be inclined to sell the asset with some amount of conviction.

     
    Last edited: Dec 3, 2018
    #38     Dec 3, 2018
  9. expiated

    expiated

    Indeed, once the Nasdaq futures hit my designated level, the price absolutely nose dived!

    USTECH1.png
     
    #39     Dec 4, 2018
  10. expiated

    expiated

     
    #40     Dec 8, 2018