i may look at going long if we bounce off the Daily R1 pivot to the upside.

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Price action looks very similar to the type of thing we had yesterday at this time. Nice bull flag forming on 1hr time frame. edit: Currently we are very close to the R1 daily pivot. So not much point stuffing around at the moment I think.

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Great to get your insight as always

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Hey SmoothTrader, quick question. From your days in the pit, how would you compare that to trading as a retail trader? Would you say you have more advantage trading forex in the floor or is there more advantage for you trading at home? Which do you ...

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i refuse to enter now. I shall wait until we get a nice pull back at around the previous high.

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do you guys think we'll hit the daily pivot today?

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cool, and wow congrats on the huge move you have captured

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What percentage do your risk per trade?--or do you vary it depending on the situation?

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Yeah true. Hmm.... I'm working on it.

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Thanks for bringing this to my attention. I think I need to rethink my Stop Loss approach a little bit. I got too carried away with R:R ratios I think this time.

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yeah probably — Yeah probably. Oh and on my chart I can see some bearish divergence.

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lol, and my stoploss is at 92.....

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its amazing how many times price bounces off a 20... I'm short but i'm oh so close to gettting stopped out

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Thanks for the feedback 99vt66. I'm still learning about divergences and how I can best implement them into my trading strategy. It is food for thought. I also agree with NuckingFuts when he says that divergence needs to be confirmed by breakout of ...

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well i use oanda so i would like them to stay in business lol. actually the bucket shop doesn't really lose in any case. They hedge and buy/sell once they have total orders in from clients or as it happens. (i would think) so they have a vested ...

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I'm just waiting to see if we bounce off this 20 psyche level. If we puncture through it then we should head to the 00 level. I am wondering how far we will go down before we start heading back up though. OR if we hit the daily pivot and then go ...

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Got to love a bit of bundy and cola eh? Man that is one BIG Bundy Bottle haha.

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Yeah there were people who were bullish before that huge move. In fact they were bullish several hours or days before that move. It was so 'touch and go' though. I think most people expected it to go down. I thought at first it was going to go up ...

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Yeah I was shocked actually. Glad I wasn't trading that move.

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I'm currently short with a t/p at the daily pivot of 1.3321 Stop loss is set a few pips above the high. I see no divergence on the chart. It's just doing a bit of a correction going down. Could see a bounce at the pivot and head higher--or not.

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