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MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

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EURUSD

Quoting Goldflake
{quote} We are sitting at multi year bottom and i assume volatility hasn't dropped yet. I've seen scary volatility in asian session when market trade near multi year high's and lows.
I'll repeat, look at M30 and see CLEARLY that volatility has dropped over the last 5 hours compared to the 3 hours before that.
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The markets are speaking to you. Do you know their language? I M T
Quoting DrDave
{quote} I'll repeat, look at M30 and see CLEARLY that volatility has dropped over the last 5 hours compared to the 3 hours before that.{image}
yep..this kind of price action is very normal before any big event.
When Scalpers win, I lose and Vice varsa...
Quoting DrDave
{quote} My view is wide ranging ... H1 is not very "Wide ranging" unless you are considering small TFs like M5, M1, and seconds
Is 200-300 pip range before it plummets ok? no matter which TF
Disconect Algo, otherwise go bust!
My take for today, let's see:-

A sell till price 1.05230 from a price of 1.05490 or even now, a safety net of a price entry for a buy at price 1.05785 TP @ 1.05865.

The BEAR is rather strong, I guess it should be a south point, but we will see, I am logging on to both sides, hopefully it will give me some good PIPS.
EU may fall today, but we may see a leg more before. GU, EU & CAD will have their CPI releases.

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Feels right this time!
Quoting DrDave
{quote} This is the smallest I can think, but avoid. Do you mean that the M15 is the smallest TF that you can deal with, but avoid it? If so, you are missing a lot of valuable information. For example, look what is happening with the M30 consolidation zone that I marked with blue horizontal lines, then switched to the 16 second TF. Clearly, volatilely has dropped EVEN MORE. {image}
I avoid it, because I don't trade based on that timeframe.
Feels right this time!
Quoting Js3mwtRc
{quote} I avoid it, because I don't trade based on that timeframe.
My speculation, it's heading south bound.
Quoting martin1977
{quote} My speculation, it's heading south bound.
After a break of 0521 in my screen its free to move into 0471 first
Feels right this time!
Quoting martin1977
My take for today, let's see:- A sell till price 1.05230 from a price of 1.05490 or even now, a safety net of a price entry for a buy at price 1.05785 TP @ 1.05865. The BEAR is rather strong, I guess it should be a south point, but we will see, I am logging on to both sides, hopefully it will give me some good PIPS.
Closed!
HAPPY PIPS!
Quoting martin1977
{quote} My speculation, it's heading south bound.
Really, no need to speculate: Just check the progression of the move upward from lower TFs.

Here is the EURUSD M30 with the consolidation zone marked yesterday. Now there is an OBVIOUS lower high after price had closed below the zone, and now the down continuation is underway.
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The markets are speaking to you. Do you know their language? I M T
Quoting DrDave
{quote} Really, no need to speculate: Just check the progression of the move upward from lower TFs. Here is the EURUSD M30 with the consolidation zone marked yesterday. Now there is an OBVIOUS lower high after price had closed below the zone, and now the down continuation is underway. {image}
Feels right this time!
Quoting DrDave
{quote} That is strictly dictated by the TF that you are evaluating.
Yes of course. I've never been able to make money on hourly timeframes or less.
After having abstained from trading for two entire days (during big countertrend moves) we are shorting this overbought relief rally today.
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Quoting DrDave
{quote} See if these help. The bottom image is the actual MN4 TF. The swing high of the current down swing was actually on the January 2021 bar. (So you can see the advantages of consulting the lower TF (MN1): a clear lower high was put in on the close of the marked May bar and is a 3-bar swing high at the close of the June bar.) By the way, I edited the original post: I wrote that your D1 chart was marked with MN1 swings but it should have been W1 swings. {image}{image}{image} {image}

How is it a 'confirmed' up swing? Just looks like a small correction of a major downward move to me.
Quoting OANDA
{quote} Hi F.g I'm sorry I missed this. I was wondering if you were able to unfreeze the platform? Thanks Ton O.
Man, hi. Yes it didn't last too long . But if you are traped with an unprotected position and losses keep running . . . then you are about increasing your pressure......

Fortunately I wasn't destroyed......

Kind regards

F.G.
Quoting JauntyLoon
{quote} How is it a 'confirmed' up swing? Just looks like a small correction of a major downward move to me.
Maybe you are confusing "swing" and "trend". I spoke only of swing.

Two often used swing definitions are 3-bar and 5-bar swings.
The absolute simplest definitions are:
For a 3-bar swing low confirmation, the bar with the lowest low has the previous bar and subsequent bar with higher lows.
For a 5-bar swing low confirmation, the bar with the lowest low has the previous 2 bars and subsequent 2 bars with higher lows.

However, more complex definitions include some bar closes. It is up to the individual to decide which, if any, of the many definitions to use.

I have my own criteria to use for confirming a swing, but I often have a quick look for a 3-bar swing if doing some hindsight evaluations. Many times, when looking for a continuation swing to be confirmed for an entry, waiting for that 3rd bar to close results in entering quite a bit later than desired pricewise. Hence, better to use another confirmation method.

Confirming a change in trend direction is another matter entirely.
The markets are speaking to you. Do you know their language? I M T
Quoting JauntyLoon
{quote} How is it a 'confirmed' up swing? Just looks like a small correction of a major downward move to me.
As presented, it indeed looks like a mere rally, unless other information tells you that it is NOT a rally but rather a reversal. That information may arrive later as the price movement unfolds.

This is why it is prudent to examine several TFs to gather information to guide your decision making.
The markets are speaking to you. Do you know their language? I M T
Quoting JauntyLoon
{quote} Yes of course. I've never been able to make money on hourly timeframes or less.
It always seems odd to me when someone declares that he cannot make money on "small" TFs but can make money on "large" TFs, because it is well established that that financial time series are fractal-like in nature. That is, when a plot of price vs time is presented with no information about the TF used nor about the price units and intervals, it is absolutely impossible to determine which TF is being presented.

So, if exactly the same structures, patterns, etc. form on EVERY TF, then why isn't your trading system generic enough to enable capitalizing on the SAME setups that occur on EVERY TF?? I suspect that one of the reasons is that the system fails to make proper consideration of volatility such that the lower volatility of very small TFs is coupled with an unrealistic profit target.

I have made many posts that include neither the time scale nor the price scale because they are actually irrelevant to the discussion: The relevant materials are mainly the relative changes in price from bar-to-bar and the patterns that are (or are not) present.
The markets are speaking to you. Do you know their language? I M T
Quoting F.g
{quote} Man, hi. Yes it didn't last too long . But if you are traped with an unprotected position and losses keep running . . . then you are about increasing your pressure...... Fortunately I wasn't destroyed...... Kind regards F.G.
What do you mean by "unprotected position"? If you mean no stop loss in place, then that is an invitation for disaster. Every position should have at least one "emergency" SL to prevent a huge account loss in the very scenario described above.
The markets are speaking to you. Do you know their language? I M T
Trend is determined by higher timeframe, trades are only taken on shorter time frames when they agree with the trend dictated by higher time frames.

Hourly charts and lower will spike (support and resistance are useless) your stops, whipsaw and give false 'signals' constantly.
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