scalping eurusd

Discussion in 'Journals' started by cvds16, Dec 25, 2017.

  1. expiated


    2017 was not a good year for the US dollar, although people believed at the start of the year that the opposite would occur.

    However, economic conditions were not seen as the cause of the decline in the value of the US dollar as political considerations appeared to dominate the scene.

    It seems as if the market is now looking for reasons for the US dollar to decline, and this will create an underlying softness in the market throughout 2018.

    Looking forward to 2018, my impression is that the market favors US dollar weakness and will find any reason it can for moving the value of the US dollar lower.

    John M. Mason
    #141     Jan 2, 2018
    kellys and cvds16 like this.
  2. cvds16


    Interesting view, yes everybody and their dog were expecting parity and that probably got some people overextended in their long view of the dollar ... monthly ema200 will be interesting ...
    #142     Jan 2, 2018
  3. cvds16


    Sold everything at 1.2080 ... my gutfeel says this isn't the end of the bullmove but got to see the dentist this afternoon so got no time to babysit this so I took the 'logical exit'.
    #143     Jan 2, 2018
  4. cvds16


    extra lesson of the day: trust your charts more than you trust your gutfeel ... in fact I would quite 'gutted' for not having sold this by now ...
    #144     Jan 2, 2018
  5. cvds16


    1.2083 is the target of the 3H ABCD projection, if hourly forms an inside bar here, I might still buy the breakout for that since I got some time left for my dentist ...
    #145     Jan 2, 2018
  6. kellys


    Imagine for a moment that reading a chart has nothing to do with being successful. Absolutely nothing.
    What then?
    You know those data sheets a mechanic prints out that give readings on engine performance? Are you saying that by reading those data sheets you know how an engine works?

    You don't think it is critical to find out why EUR/USD is moving higher? Or what is driving it higher?

    How much do you actually know about the foreign currency market?
    #146     Jan 2, 2018
    cvds16 likes this.
  7. kellys


    You've talked about the 'quote' currency. What about the 'base' currency? What about the other leg of trade?
    #147     Jan 2, 2018
  8. cvds16


    actually I don't think it's critical to find out WHY the EUR/USD is moving or what is behind that move ... I trust my technical reading much more ... but I do have a broad sense of what is happening fundamentally speaking in the markets ... that should suffice, the charts will be telling the rest to me ... that's how I see it ...
    #148     Jan 2, 2018
    expiated likes this.
  9. cvds16


    there are often many things to take into account fundamentally speaking and that can lead to information/interpretation overload where in the end you don't know your head from your feet anymore ...
    the inside bar didn't materlialise here, forming an evening star instead but without the divergence in stochastics it just means nothing (at least not to short) it means more that the bulls lost some steam here after they reached that 1.2080 level ... not unexpectantly.
    #149     Jan 2, 2018
  10. kellys


    They say that persistence is the key to success.
    That though depends purely on what one is pursuing and how stubborn one is in pursuing it.

    Imagine on getting to the castle you throw those keys into the door and it doesn't unlock. Just imagine.

    How long is the long way round?
    #150     Jan 2, 2018
    cvds16 likes this.