Make your first million - page 144
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I don't understand the point of the comment.
Yes. You can see that after opening the position, the price went immediately against the opening price and did not return to it for 4 hours. During these hours the market went 39.0 pips against the position, but in the end the dummy took pity and let me close the position in the plus of 6.0 pips. I did not do that. Monday will show whether I was right or not. :)
What does your gut tell you?
I'm confused by the big, white bar on the left. I think it'll dance around the order for a week and then decide
If there has been a reversal from the falling trend that was in the European session, I think price should walk down by 20.0 pips before continuing to rise.
What does my gut tell me? I'm confused by the big, white bar on the left. I think he'll dance around the order for a week and then decide
Folks, tell me, how can you even trust intuition? Do you have so much agromatic experience that you have this same intuition on which to base their thoughts?
Where are you going with that?
I have the experience in the field to trust my intuition. How about you, I don't know!
Intuition is figurative.
My expectation of EURJPY going down 20.0 pips is not based on intuition but on the market situation:
1. On EURUSD, in my opinion, the market maker has unclosed sales around 1.12348 - 1.12473. From the current price (1.12649) is 20.0 - 30.0 pips down.
2. On the USDJPY, I believe the market maker has unclosed buys remaining around 123.624 - 123.710. From the current price (123.381) is 30.0 - 40.0 pips up.
3. If these deviations are resolved by the dollar rising, then USDJPY will rise, EURUSD will fall and EURJPY will remain around current prices. Not a good option for me.
4. If the EUR deviations are resolved at the expense of the EUR, both EURUSD and EURJPY will fall 20.0 - 30.0 pips. A favourable scenario for me.
5. If the deviations on the dollar are resolved at the expense of the JPY falling, then both USDJPY and EURJPY will rise. The worst case scenario for me.
Why I expect a favourable outcome for me:
1. Kuroda's statements this week that a too cheap yen is causing problems in the economy. On that statement both USDJPY and EURJPY plummeted 180.0 pips in 15 minutes. And that's a drop with the USDJPY's daily range of about 80.0 - 90.0 pips. Hopefully the Japanese will stay in this trend and not drop the Yen.
2. The Eurozone continues its quantitative easing policy, which means the Euro is in a falling trend. Which is good for my situation.
As you see, no intuition, just an analysis of the situation. :)
I understand that you are selling on EURJPY.
1.Now a lot of people expect a fall, which means that the market is not profitable to fall, and is more likely to work the upper limit. (Option 1)
2.You write that the Eurozone is doing quantitative easing, what are they doing and when did they start doing it? It was launched during the fall of the Euro and to weaken the USD, so it is probably in favour of a stronger Euro. (Option 1 and 3).
Quantitative easing policy is about filling the market with additional liquidity, i.e. printing money. An increase in the money supply leads to a weakening of the currency, which is what we are witnessing.
Tell me, people, how is it possible to trust intuition at all? Do you have so much agromatic experience that you have this same intuition to base your thoughts on?
1. Kuroda's statements this week that a too cheap yen is causing problems in the economy. On that statement both USDJPY and EURJPY collapsed 180.0 pips within 15 minutes. And that's a drop with the USDJPY's daily range of about 80.0 - 90.0 pips. Hopefully the Japanese will stay in this trend and not drop the Yen.
2. The Eurozone continues its quantitative easing policy, which means the Euro is in a falling trend. Which is good for my situation.
As you see, no intuition, just an analysis of the situation. :)
It is the same for the EUR, they said on Friday that a high EUR is bad for them and so what? It fell a couple of bumps and went up.) It went up because of the uncertainty in Greece. Typically. Logically it should go down, Greece is bad and the Euro is bad. Everything is just the other way round in the market.) Contrary to all predictions and expectations
No, not the other way round, but 50/50. To make it impossible to determine the direction with a high degree of probability. The puppet rules the market! :)
For my intraday trading it doesn't matter where the euro goes. I try to trade on fluctuations and set appropriate goals. But sometimes the currency moves without a pullback! This is the most unpleasant thing in my trading.
But my pride won't let me close myself off ))