Just saying... rarely market make v shape one.
1.1180 needs to retest and then fail, then only you can say with more confidence that downtrend coming.
Also ~1.2000 is the 200 daily sma. People sure want to test that zone one.

Agree on it is still hard to determine the direction of EU now.

Imho at current trend only can consider the drop as retracement.

Anyway to me I am sticking to my original plan still. I am seeing lower timeframe forming bear flag. My short scalp TP should be about 1.1125.

hi, im newbie here.

based on the printscreen u shared, wanna ask the one stated buy/sell 0.05 or 0.06, what does it mean?

Hi all sifu and expert,

i noticed that there are 4 types of execute action in the forex and i not so understand for each of the function after study.

1) sell limit
2) sell stop
3) buy limit
4) buy stop

Can anyone of you explain each of them?

Thank you very muchhhhie~!

https://www.babypips.com/learn/forex

limit: when price touch, execute at that price or better.
stop: when price touch, execute at market price.

On top of above explanation, there is another rule.
U can not use stop order to get better price. Stop order can only be used in worst price. People like to use stop when it break support or resistant as an example.

While limit order is always use to get better price.

Pertaining to the 'stop' execution, when price touches, that would be mkt price at that moment, right ? Why wouldn't a buyer or a seller want a 'better' price if possible ?

Stop = get me the hell out now... and for breakout folks... wanna fomo yolo in quick liao... usually these are the better prices...

Btw there's also stop-limit orders...

This post has been edited by dwRK: Oct 23 2019, 07:58 AM

Sometimes you're wrong. So you put a stop loss. When you're wrong and you want to get out as fast as you can, why would you bother bargaining with the market?

If you insist on bargaining for a better price you can use a stop-limit order. Which means, when market reaches that price, execute at limit.
But this carries a risk that you might not be able to get a fill. The order is then cancelled and you may be stuck naked.


Example:

If you put a sell stop above your entry you get instant filled at market.

Sell limit above your entry is a take profit order.
1.0000 You buy here
Sell stop below your entry is a stop loss order.

If you put a sell limit below your entry you get instant filled at best price (usually at market)

If you use a sell stop-limit, the broker will try to execute your sell at the best price set by you. For example if you set your sell stop-limit at 0.9000, the broker will try to fill you at 0.9000 or higher. But if market gaps down to 0.8000, you trigger your stop order, but the limit order won't fill (0.8 is worse than your set limit of 0.9)

Good explaination Emily.

I used to confuse with limit/stop.
Oanda , much more easier, just buy/sell order.


In MT4. if u placed wrong limit/stop, the server would reject the order.


Refering to earlier Emily replied
*again no IF , price UP or DOWN , it's histry .

but now, from D1 and H4 chart , EU seems bias to down.

even at market could have some slippage...but still better than stranded

correct, which is why when people set stop loss, they always set a stop order. Nobody sets a stop-limit order. When you absolutely want to get out of the market, you don't bargain.

Similar to real life, bargaining is only reserved for those looking to enter a position or to get a better profit.

Helo. Please refer to 1st page.

exception is for breakout play where you can use stop-limit for entry...you bargain by setting a different stop trigger & limit prices

use 'limit' orders when you want it to trigger when the current price retrace to your intended price.

use 'stop' orders when you want it to trigger when the current price reach/go further through your intended price.

erm, here no ppl trade DOW 30 ??

whacks like mad, with daily range min 120-250pips

This post has been edited by AllnGap: Oct 23 2019, 03:19 PM

Tered topic name is forex.
You ask people got trade dow or no...

DOW is correlated with YEN so hahahahhaahhaha