ThomasJeff_DCM

EURUSD a little outlook for what to trade next week

FX:EURUSD   Euro Fx/U.S. Dollar
If you´ve been following me the euro             have been very good to us this past weeks with 3 winning trades and 1 loss. For monday i´ve got a Bullish Cypher pattern if price heads south to but it up at strong Support.

If price heads north we are gonna sell it at the blue Bat pattern at a lesser, but still good reistance area, but compared to the Cypher this pattern got a lot higher R:R so its well worth             it.

We always try to be one step ahead of the market, and put in orders when we don´t have any emotions aboute it. We use the IF THEN method to see, if this happens, we do that, and if it does this in stead, we do this in stead. We are planning for several senarios while we don´t have our emotions haning on the outside of our cloth and then we just stick with our analysis cause we know its tested and profitable so we just have to control out emotions, and focus on money management!

A subject i see more and more here on TradingView not beeing giving much of a thought, but its almost more important than your trading method if you want to see the returns you are dreaming about. How come some people that have the same size account, makes the same amount of pips make a totaly different return on account. It´s MONEY MANAGEMENT the art of when to increase or decreace your position size! So please spend some of your weekend reading on Fixed Ratio money management vs. Smoothed Ratio money management, you will be amazed!

I´ve got a starting point for you read the book by "Ryan Jones - The Trading Game Playing By The Numbers To Make Millions" It will change your trading career!

Kind Regards
Thomas Jeff
Nice idea, I will enter hoping for a bat pattern
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Thanks for your comment, yet the Bat got a very good R:R but its at a minor resistance point, where as the Cypher is a multi week strong support that got a lot bigger chance for holding the market. I got a pending order on both so lets see tomorrow.

Kind regards
Thomas Jeff
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ThomasJeff_DCM ThomasJeff_DCM
Did you see my post on the AUDNZD it got a very nice bat too with a very good R:R also. Its on a 1hr timeframe so if you want to trade it, wait to put your orders in till the market has opened so you know how big the gab is gonna we this week.
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ThomasJeff_DCM ThomasJeff_DCM
I´m very sorry its not a Bat pattern its a Gartley. I confused i´m very sorry, but it still got good R:R
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Agreed! Traders are always looking for that mythical "Holy Grail" and that's why they jump from one trading system to another thinking "THIS ONE IS GOT TO BE IT!". Well, there IS a "Holy Grail" and it's called MONEY MANAGEMENT! If you have proper money management skills and combine that with a solid trading plan, basically.....YOU CAN'T LOSE! In fact, it'd be actually hard for you to lose money!

BTW, I posted an analysis on EURUSD that also uses the 2 patterns you posted about. It's more a LONG TERM plan though with a short term play on these patterns.
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EverythingForex PRO EverythingForex
Analysis: EURUSD: LT* Outlook + ST* Bear Bat OR Bullish Cypher
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ThomasJeff_DCM EverythingForex
It looks to be a really torrow analysis, its looking good! I belive we are in a range and we just hit the range support and are now climbing north, but anything can happens with the greek meetings going on every day, its scary business! We have to take care and use wide enough stops to withstand wipzaws.

And yes Money management is the holy grail, the one using the standart 2% method earning 20% a year could be earning 120% a year on capital with the same pips, its the art of when to reduce and increase lot sizes. Its very important specially for traders with small accounts that wants to see a return
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so good. to run profit.
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We got good rejection so far
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ThomasJeff_DCM ThomasJeff_DCM
Stop is moved up
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And we got the winner we wanted
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