CLOSED: TRADE: EURUSD: BUY@1.11660 15M Crab (-15 pips)

FX:EURUSD   Euro / U.S. Dollar
Trade was closed when prices broke below the crab's A point. Took a -16 pips loss. Now will just wait for signs of bullish price action again for another possible entry into the cypher trade. There is ALWAYS the possibility that the cypher will not trigger any reversal and prices will keep heading down so this is why I kept the stops so tight. Must remain PATIENT for a good opportunity to go LONG. Or else just stay out of the market.
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I think the problem is the TF, 30 minutes cypher is not heavy enough to trigger the psycology for speculators to trade by the pattern... look the 4h chart, there is a massive one forming there :) - still EURUSD is very erratical nowadays and we have super mario talking tomorrow so may as well await to see what comes on
+1 Reply
This cypher is not a 30M cypher, my friend. This is a 4HR TF cypher and it is already filled.. I don't trade on TF's lower than 1HR. The only reason for me to be in any TF lower than 1HR is to fine tune and entry into any trade. That crab in the 15M TF was just that. Only used to fine tune an entry and to cut down on the stop loss. It didn't work out. That's just the way it goes sometimes. Erratic is a matter of how you see it. For me, it has not been so erratic.Last trade brought in over +180 pips on this pair. It was a clear down move that revealed itself. Not bragging but I'm just trying to illustrate that it's a matter of perspective, my friend.
+1 Reply
or scalping with very tight stop for some pips. We are on finishing the down move on EUR/USD but I wait for signal from H4 after will go long hard and strong. Now down consolidation, very lazy.
EverythingForex PRO Philson-Investments
Yeah, I'm not a scalp trader. And I also don't believe we are close to finishing the down move in this pair. I'll probably end up just skipping this trade since I don't have any up move going very far. Probably only to the .382 retrace which is worth about 100 pips from where prices are right now. Wouldn't be a bad trade to get 100 pips BUT the stop for the cypher would be +80 pips. That means the R;R is less than 2:1. So my trade plan doesn't allow me to take this trade. No matter. Always the next trade......
+1 Reply
I will write when will see opportunity for more then 100 long on it.
Philson-Investments PRO Philson-Investments
see you my pastern: 16.59 take heavy short position and after 1 min exit:) try it.
EverythingForex PRO Philson-Investments
Sorry, man. I'm totally not understanding what you are talking about.....any chart?
see the candle on every past day on 16.59 European time that is all. free 10 pips every day in 1 min.
EverythingForex PRO Philson-Investments
Oh, ok. Thanks. Good to know. But as I said, I'm not a scalp trader.
+1 Reply
I know you aren't but good to know:)I use TF from M1 to H4 soo everything is interesting on Eur/Usd for me if it's give me some money.
Lats of lack and waiting for another chart; I was super badly view yesterday...but it's just happen.
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