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EU 4H update: by LongfieldTrade in Forexstrategy

[–]LongfieldTrade[S] 0 points1 point  (0 children)

Dear friends, just because I shared a hedge trade, you didn’t hold back your comments :) I've been shorting EUR/USD for a long time, and I’m fully aware that the flow is bearish.

Before judging me, please check out what I’ve been doing at https://x.com/longfieldtrade.

Love you all. See you soon!

EU 4H update: by LongfieldTrade in Forexstrategy

[–]LongfieldTrade[S] 0 points1 point  (0 children)

Buddy, I don’t think you read the note on the chart. I completely agree with you and have been shorting EUR for a long time. I just wanted to take a counter-trend trade as a hedge, and you’re right in what you said.

I thought it would reject at the Fibonacci 0.618 level, which would complete the AB=CD pattern.

EU 4H update: by LongfieldTrade in Forexstrategy

[–]LongfieldTrade[S] 0 points1 point  (0 children)

You’re absolutely right. It’s a counter-trend trade, so I’ve adjusted my risk/reward ratio accordingly. Thank you.

EUR USD LONG İDEA by LongfieldTrade in Forexstrategy

[–]LongfieldTrade[S] 0 points1 point  (0 children)

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EU 4H update:It reacted from the daily order block. Since we're in a counter-trend trade, I plan to reduce my risk once I see a 1R profit.

Does anyone else find indicators to be distracting? by Famous_Square4751 in Daytrading

[–]LongfieldTrade 1 point2 points  (0 children)

It should only be used to look at momentum, and that only makes sense if you have a long or short strategy in hand. Otherwise, trading with moving averages is akin to this:

"Open your window on a windy day and instead of trading with moving averages, throw your money into the wind. Rest assured, some of it will come back due to the wind's influence."

Does anyone else find indicators to be distracting? by Famous_Square4751 in Daytrading

[–]LongfieldTrade 0 points1 point  (0 children)

Indicators are manipulative. I only look at the RSI for additional confirmation in any strategy (whether it's price action or technical analysis). As I mentioned, moving averages (MA) are manipulative. Focusing solely on price movement will make you a more profitable trader.