scalping eurusd

Yes, I really appreciate your help in making me think things through. I am most gratefull for that. You really are making me clarify points and how I see trading. However there are many ways to skin this cat.
The repricing risk is especially great around ECB intrest rate changes and the speech afterwards and at NFP so you don't want to be in the markets around these times.
However I think it's almost impossible to outguess fundamentals (or 'funnymentals' ;) ) and that's the reason one should stick to the technicals as they arise ... so it's not really necessary to find out what's driving the data as long as your charts make sense at least imho.
And I am aware that this is almost heresy to some people ... but that's the way I see it ...
Off to the dentist now ... with a bit of luck I am back in a big hour.
 
cvds16 said:
Yes, I really appreciate your help in making me think things through. I am most gratefull for that. You really are making me clarify points and how I see trading. However there are many ways to skin this cat.
The repricing risk is especially great around ECB intrest rate changes and the speech afterwards and at NFP so you don't want to be in the markets around these times.
However I think it's almost impossible to outguess fundamentals (or 'funnymentals' ;) ) and that's the reason one should stick to the technicals as they arise ... so it's not really necessary to find out what's driving the data as long as your charts make sense at least imho.
And I am aware that this is almost heresy to some people ... but that's the way I see it ...
Off to the dentist now ... with a bit of luck I am back in a big hour.
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LOL

Good luck at the dentist anyway!
 
kellys said:
Is there 'edge' in breaking fluid price up into various time intervals?
Why would there be 'edge' in doing that?
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But price is NOT fluid. For example, vds16 wrote that he "Sold everything at 1.2080." Note that the exchange rate is now back down below 1.2040.

EURUSDM5.png

Thank goodness he locked in his profits when he had the chance or those 40 pips would have vanished like smoke—but now he can reenter a long position with those gains safe in hand AND collect a few dozen more.
 
seems I didn't miss too much at the dentist and all too right you are, I woulda haven been cursing big time if I had missed that profit opportunity ... looking for a new long idd but waiting for the right setup to come along ... the best of the day could be over ... unless something happens around ema20 on hourly
 
expiated said:
But price is NOT fluid. For example, vds16 wrote that he "Sold everything at 1.2080." Note that the exchange rate is now back down below 1.2040.

View attachment 180919

Thank goodness he locked in his profits when he had the chance or those 40 pips would have vanished like smoke—but now he can reenter a long position with those gains safe in hand AND collect a few dozen more.
More...
Fluid meaning constantly moving (except weekends and daily rolls of course).

The fact that price went from 1.2080 back to 1.2040 means it IS fluid.

He can't answer my question so maybe you would like to?
Is there 'edge' in breaking fluid price up into various time intervals?
Why would there be 'edge' in doing that?
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well, I am back ... my guess would be that the bigger the timeframe the bigger the players that are active on that timeframe ... at least that was what I had been told by another trader ... kinda makes sense to me
 
cvds16 said:
I am going to try something here: buy stop @ 1.20707 targeting 12 pips profit, can't say exactly why but it just feels right ... it's the level of the downbar of the evening star is the best I can come up with ... some bears will probably have put their stop there so that might lite things a bit up ...
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What happened with this?
 
looking back I probably should have shorted that evening star on hourly: all my other timeframes were overbought ... well too bad, I had to leave (and tomorrow again I will have to miss the entire NY session).
 
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