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As Mr. Cashish has said time and again, Cash is the Big Dog and the 6E is the tail. Did the EUR/USD give you any clue as to the likely direction? How and where one enters and their targets is entirely discretionary...IMO. I base mine mainly on price action, normal price rotations, price behavior near whole numbers, recent volume histograms, and the chart studies I have the utmost faith in.
I forgot to attach to the above. Simply a potential buying opportunity that made sense to me. This is what I saw when we had the pullback at the 2:00am EST Germany open. Also what I saw when we took out the most recent swing high at 2802. I posted some of my possible upside targets.
I'm not nearly as good as Mr. Cashish as far as posting and trading at the same time.
Never overlook and underestimate the power of the BIG DOG (Cash). Right, wrong, or indifferent; when I arrive at my trading station well before the Germany open at 2:00am EST, it gives me a sense of who's in control and what side I prefer to trade on. Also, I'm always cognizant of the location of the VWAP SD bands and constantly tracking the normal rotations.
My CASH chart is located right beside my order entry dome. It is on one side and my buy/sell study on the other.
Has anyone seen or heard anything from Mr. Cashish recently? I just hope all is well.
What did you see at the German open at 2:00am EST? Based on the attached charts, near the 2:00am open, which side would you have preferred?
I took a trade right after the 2:00am open. I just took a 2nd trade at 3:40am EST after a failure to make a LL and what I saw on my buy/sell study. Two and Through...not quite as good as Mr. Cashish with his One and Done
I can post if anyone is interested.
At what point would you have decided to lean in a certain direction. I was done after my second trade sometime near 4:00am EST as I mentioned in the above post.
Is anyone else trying to trade the Old School method? If not, and there does not seem to be much interest, no need in me posting. Adios and good trading to all.
Hey @eminitrdr , there may not be much interest, but posting your stuff is a great exercise if only for yourself - unless you're keeping a separate journal somewhere else.
At any rate, I'm sure @Cashish will check in again at some point.
Take care,
-AT
"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
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The chart below shows the steady increase in Net Short positions held by Large Specs. The Open Interest is in Green if it was higher than the previous day (I'm lazy, I didn't mark every day's value through the "roll"). I wanted to show how using the total of OI data is helpful during "roll over," it allows you to see a seamless continuation of positions being held.
I also take notice when price "meets-up" with the 200 day SMA and or the 20 day SMA (the bands). It's uncanny all this coming together The Day Super Mario is going to speak, and yes, Ben too, and yes, it's NFP Week too. So 1.2600 or 1.2900,,, how about BOTH! Ok, which one first?
@eminitrdr Thanks for posting. You posted some nice trades, but I think you've got cards you're not showing! What is that "other" charting software on your screen, tell us about the secret sauce!!
@josh I hear you. We might both agree Ed Seyktoa is a weird guy, and I'll give him the benefit of doubt that his choice of Barry Bonds may have been made before the truth came out. I agree with you, "It's the singles and doubles that can keep us going (especially psychologically) along the way." But sticking to the baseball analogy let's remember batters only have three strikes. If I can control my risk and step up and take three big swings and "hit nothing" and I'm still within my daily loss limit I'm OK with that. Sure I'll hold my head low and walk back to the dugout, hang up my jock strap for the day and either switch over to SIM or call it a day. The UP SIDE is I can come back tomorrow with a clean uniform and stand in the batter's box again. I never took a loss that I didn't wish I took earlier, and I never took a profit that I didn't wish I had "more on." Thanks for your post, "a juicer."