NexusFi: Find Your Edge


Home Menu

 





EURUSD M6E/6E Euro


Discussion in Currencies

Updated
      Top Posters
    1. looks_one Big Mike with 402 posts (490 thanks)
    2. looks_two Cashish with 192 posts (162 thanks)
    3. looks_3 terratec with 117 posts (213 thanks)
    4. looks_4 rassi with 113 posts (110 thanks)
      Best Posters
    1. looks_one glennts with 1.9 thanks per post
    2. looks_two terratec with 1.8 thanks per post
    3. looks_3 Big Mike with 1.2 thanks per post
    4. looks_4 Cashish with 0.8 thanks per post
    1. trending_up 882,549 views
    2. thumb_up 3,050 thanks given
    3. group 204 followers
    1. forum 2,612 posts
    2. attach_file 1,255 attachments




 
 

EURUSD M6E/6E Euro

 
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,396 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,536


Deucalion View Post
Thanks BM, CDV still strikes me as an art - which doesn't surprise me but I did giggle like I child when I saw that 6E gap. The market is in imbalance, with the low session volume. But it's what I call a high risk trade, while it's entirely possible for the bottom to fall out to 1.3425ish, the low volume entails high risk for me, but that's just me, I would rather see exhaustion on the upside and then short again or see an "event" to the downside before I did anything. The flash crash told me that extreme moves simply mean taking very very small bites on position size, if any at all.

We agree on the risk.

In fact, I am a bit uncomfortable with this trade. But, I try to control that and just look at the chart. Lately I've been trying to "do better" when scaling in on winners, and sometimes it is great and you have massive gains. And sometimes you end up scaling in near the bottom and then have a bad price if things stop moving in your favor My last entry in fact was about 4 hours ago, as price stopped moving downward abruptly and is now sideways.

Nothing is perfect. If I need to close this short, then I will. I agree that a gap fill is likely. But since I am leaning on cumulative delta these days, I will be watching closely to see what the volume shows --- is it in the direction of the gap fill, or not? I think that is a telling sign.

Anyway, managing risk is of key importance. While I would like the first trade of this thread to be a winner, I certainly am willing to accept it will not be.

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread

Can you help answer these questions
from other members on NexusFi?
Exit Strategy
NinjaTrader
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
NexusFi Journal Challenge - April 2024
Feedback and Announcements
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
ZombieSqueeze
Platforms and Indicators
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
The Program
18 thanks
GFIs1 1 DAX trade per day journal
18 thanks
 
 
Deucalion's Avatar
 Deucalion 
Calgary, Canada
 
Experience: Intermediate
Platform: Multiple
Broker: Multiple
Trading: Multiple
Posts: 428 since Aug 2009


Big Mike View Post
We agree on the risk.

In fact, I am a bit uncomfortable with this trade. But, I try to control that and just look at the chart. Lately I've been trying to "do better" when scaling in on winners, and sometimes it is great and you have massive gains. And sometimes you end up scaling in near the bottom and then have a bad price if things stop moving in your favor My last entry in fact was about 4 hours ago, as price stopped moving downward abruptly and is now sideways.

Nothing is perfect. If I need to close this short, then I will. I agree that a gap fill is likely. But since I am leaning on cumulative delta these days, I will be watching closely to see what the volume shows --- is it in the direction of the gap fill, or not? I think that is a telling sign.

Anyway, managing risk is of key importance. While I would like the first trade of this thread to be a winner, I certainly am willing to accept it will not be.

Mike

Another thing I would likely look at is that bear flag retest to scale short in. This is typical scale short trade (as most are IMO). Obviously being a currency, it is entirely possible for that bottom to fall out, which would mean a killing for you. Rooting for you

So yeah hold on to it, something rotten in Euro land and high probably on a bottom fall out move

Attached Thumbnails
Click image for larger version

Name:	60M.png
Views:	739
Size:	64.4 KB
ID:	49540  
 
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,396 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,536



Deucalion View Post
Another thing I would likely look at is that bear flag retest to scale short in. This is typical scale short trade (as most are IMO).

My plan is to hold the trade to the Europe cash open and see what happens, unless we start seeing some movement ahead of that.

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread
 
 
kkfx's Avatar
 kkfx 
Mumbai, India
 
Experience: Intermediate
Platform: MT4, NT8,TradingView
Broker: AMP
Trading: Index,currencies
Posts: 116 since Jul 2010
Thanks Given: 325
Thanks Received: 160

It seems euro is heading to 1.33 in short-term as a target of this bearish Gartley on 4 hr may be till FOMC meet and depending on whether QE3 is announced, it will decide further course. Also break of a bearish flag on 1 and 4 hr.
USD index is also forming a bearish Gartley at 79-80 level on a daily.

[URL="http://postimage.org/image/25z5o9ghw/full/"][IMG]http://s1.postimage.org/uiuneq2kn/eurogartley.gif[/IMG][/URL]
upload png

Thanked by:
 
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,396 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,536

Meh. Closed half on the last swing low failure to really go anywhere. Looks like a gap close is more likely now.

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread
 
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,396 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,536

I'm flat. I get bored too easily sometimes, and I tend to err on the side of defensive trading. The sideways movement did me in here, but I still made some ticks.

If I wasn't so exhausted, I'd strongly consider a long position here if the cash session opens up with some buying, with a target near a gap fill.

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread
 
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,396 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,536

Updated chart.



I didn't like the buying coming in and the continued failure to really push lower. Not a good combination, especially with a large unfilled gap looming above.

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread
Thanked by:
 
 terratec 
Zurich Switzerland
 
Experience: Intermediate
Platform: NinjaTrader
Broker: IB
Trading: ES, 6E, CL
Posts: 403 since Sep 2009
Thanks Given: 64
Thanks Received: 515

They often push it a bit higher in the hour before the real open to get a good short entry for the 9.00 open. It looks like now. ES weak CL weak.

Thanked by:
 
 terratec 
Zurich Switzerland
 
Experience: Intermediate
Platform: NinjaTrader
Broker: IB
Trading: ES, 6E, CL
Posts: 403 since Sep 2009
Thanks Given: 64
Thanks Received: 515

Very slow day. But the usual game with push to short.

Attached Thumbnails
Click image for larger version

Name:	11 09 19 0000.png
Views:	738
Size:	37.4 KB
ID:	49542  
 
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,396 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,536



terratec View Post
Very slow day. But the usual game with push to short.

I was awake enough to short the top of the channel around high 80s and covered around '60, naturally moments later it ran down some more lol.

Now to sleep.

Sent from my DROIDX using Tapatalk

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread

 



Last Updated on January 27, 2024


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts