Rewind Back 15 Years

themickey said:
Another question, after 30 years have you just discovered RSI?
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personally i do not need RSI....i can 'see' it in the swings itself.

it is not difficult to see each swing taking longer.But that is difficult to explain in a journal so i have explained it using RSI.

i am not sure why when i am discussing charts, everyone is discussing my personal idiocracies.

i have no objection to you doing this.....but if you like talking about me then i will give you my wife's number and you will find a lot of agreement there
 
themickey said:
If/when you blow your 50 bucks, whadya gonna do then?
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same thing i did after blowing 100000 usd.....deposit another 50 usd.

incidentally i deposited another 100 usd so now i have the huge capital of 150 usd....i may move markets now

if i was shameful of losing i would not be posting here.....

i just want the newbies to know what can happen to your finances if you do not trade properly
 
padutrader said:
see chats of eurusd below.

The rsi is strongly suggesting that the last moves up were on decreasing strength so the up move may be over.
the second chart shows the move up in a larger context and there are two reasons why this may be a corrective move in a larger downtrend: the RSI suggest this and also the market structure,which shows price at the top of the down channel.

the target shown is a conservative one .

the structure strongly suggests a test of the low seen on the chart and made on the NFP data release. this is the bear case.

there is a bull case but because i am short, posting such views is banned on this journalView attachment 202054 View attachment 202055
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target achieved
jeur.png
 
padutrader said:
SEE THE CHART OF USDJPY BELOW :

the second fall is on lesser momentum than the first:as confirmed by the RSI.

The small uptrend after that is with a uptrending RSI and a much stronger RSI for the last 5 bars before close.

The moving averages...5 , 21,50 are all becoming a little less steep while 120 and 240 have steepened.

so expect a move up towards the target shown / marked.

if the move towards the target is rapid it will set up another move down .....if it is slow then it may hold at around the target level or go down weakly to set up another move up:this may then test the spike high made during NFP

the target is the start of the down channel after the spike.

There is another reason for that target and that is based on market structure but to explain that is beyond the scope of this journal.

and yet another reason for the target to be achieved is all the prayers i have done :DView attachment 202049
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closed for 11057 loss of 56 pips
jjpy.png
 
No SL I presume ??? Any Max Draw down rules ?? Trading like this makes you feel like a rockstar until 1 trade runs 2000pts against you without looking back and wipes your account.
 
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