Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

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

Attachments: EURUSD
Exit Attachments

EURUSD

Bit of time and price analysis makes me think the doller is going to reverse today.

Smalldog
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD 2008.PNG Size: 59 KB
Quoting Shadowfx
Ok for the ones who might have the question...

"How am I gonna sail safe trough this upcoming storm"...

Scenario 1: Safe option

Don't leave the harbour...don't trade, stay in and watch market choose final direction, either up or down, there will be plenty of pips to be made once initial blast is settled.

Scenario 2: My scenario

I'm hedging this monster with 2 small positions and wide SL's on first news release, since retrace is possible before second news round at 3pm (GMT) comes out.
Risk..if we head below 1.55 with a clear break...we might not see a retrace soon, will accept a loss, covered anyway since I'm hedged and open larger positions if trend is settled

Scenario 3: Gamble

Choose your direction before news release and "gamble" on forecasts...
Not my advice..but if your on the right side...you can make a huge profit instantly

I would advice scenario 1 if you are new or don't have a large margin to cover...

As always...Just my 2 Cents...

Very good advice, thanks. I'm stuck on a sell at 1.5540. Thinking about assigning a SL of 1.5590, but reluctant to do so because I have good margin, and I feel it will clear my TP of 1.5460 eventually, maybe even lower.
Up or down, gimme a ticket
Quoting nms4716
Hello all... always looked but never written, why not hedge the non-farms with stop losses both ways with TP's set higher that way you get taken out in the wrong direction very quickly. For example I hedged on the news yesterday and got stopped lossed for about 8 points and I net 74 pts shorting the dollar vs the Euro. Just an idea to play news if you like to do that sort of thing. Not going to say good luck, this is not about luck it is skill and analysis.

I used to do that all the time. You make some serious money, part of the time. All in all, I dug myself lots of deep holes with that strategy, however, so now I try never to trade the news.
Up or down, gimme a ticket
Anyone know the support level for this EUR/ USD dip?
41 pip net profit on hedging the news eur/usd.. in and out... just the way i like it!... I am not swearing by it guys just a way to get a few short term quick hits. One thing we might see a retracement but the news at 10am shall drive the market short term.
Quoting SpecialEd
I used to do that all the time. You make some serious money, part of the time. All in all, I dug myself lots of deep holes with that strategy, however, so now I try never to trade the news.
This is my first post (yeah!)... but I can't tell you the number of times that I've been burnt on news releases, gambling/speculating which direction the pair would go in... i.e., 10 minutes ago!!
I'm short USD. Unemployment rate is much more reliable, payroll numbers are often way off when revised the following month. Muted response from the market. USD has had a good run but time for shorts to close methinks.

could be horribly wrong.
TRADE FOR SWAP
Quoting seesaw
Anyone know the support level for this EUR/ USD dip?
It just breached the big bad year trendline a bit and now sitting on top of it. If it holds I suspect the next objective for EU is 59+. If it doesn't, 53-.
On the path to Enrichment.
I'm out for now..TP 1.553..don't see it breaking the main LTL yet, possible retrace here IMO and possible new attempt after 3pm (GMT) news release

Just my 2 Cents...
Isn't it possible to open a ONE CANCELS OTHER (OCO) order to say go long 10 pips above the 08:29:59 price and short 10 pips below before the announcement? Has anyone tried this before?
Quoting Shadowfx
I'm out for now..TP 1.553..don't see it breaking the main LTL yet, possible retrace here IMO and possible new attempt after 3pm (GMT) news release

Just my 2 Cents...
Looks more of a now or never (the next month) situ to me. Let's see..
On the path to Enrichment.
Quoting huispan
Isn't it possible to open a ONE CANCELS OTHER (OCO) order to say go long 10 pips above the 08:29:59 price and short 10 pips below before the announcement? Has anyone tried this before?
It is possible with some platform, but in the case of NFP I don't think it would be beneficial
i am outta my short with profits atm...

if nothing extraordinary happens, i will be bullish on eurusd for monday

nice weekend all
so far heading down ... 75 odd points to my target.

will I trade ?

I know I should go to brd... 1am NZ time
One way to trade news and channel breakouts is to wait for a swing high and
swing low to form. Then trade the breakout of those points. It will help keep
you out of bad trades. Don't forget to take part of your position off when you get some profit, and let the rest run.
Attached Image (click to enlarge)
Click to Enlarge Name: break.gif Size: 12 KB
Russell, sometimes there are false breakout. The price just go around 10 pips after the swing high and low and just reverse again. How do you identify this? I bet you don't just enter the trade when you see the price broke through do you?
Quoting Shadowfx
I'm out for now..TP 1.553..don't see it breaking the main LTL yet, possible retrace here IMO and possible new attempt after 3pm (GMT) news release

Just my 2 Cents...
I turned your 2 cents into $800. Gave up a lot of potential, but I do agree with possibility of retrace. Waiting on ISM.

Thanks Shadow.
Up or down, gimme a ticket
Quoting Jurrasic
Looks more of a now or never (the next month) situ to me. Let's see..
ISM manufacturing is a "heavyweight" and DJI has opened also by 3pm (GMT) to put extra pressure on...

1.558 - 1552....hmmm....that's "only 80 pips spike" which is not really a lot yet IMO...I see "holding back" and wait for DJI & final releases (ISM)

Just my 2 Cents...
Quoting c2v4l
Russell, sometimes there are false breakout. The price just go around 10 pips after the swing high and low and just reverse again. How do you identify this? I bet you don't just enter the trade when you see the price broke through do you?

Unfortunately nothing works a 100%. Define you risk, take your loss, and
move on. It gives an edge over jumping as soon as news is released. i.e. today this strategy has me on the sideline.
Quoting Shadowfx
Ok for the ones who might have the question...

"How am I gonna sail safe trough this upcoming storm"...

Scenario 1: Safe option

Don't leave the harbour...don't trade, stay in and watch market choose final direction, either up or down, there will be plenty of pips to be made once initial blast is settled.

Scenario 2: My scenario

I'm hedging this monster with 2 small positions and wide SL's on first news release, since retrace is possible before second news round at 3pm (GMT) comes out.
Risk..if we head below 1.55 with a clear break...we might not see a retrace soon, will accept a loss, covered anyway since I'm hedged and open larger positions if trend is settled

Scenario 3: Gamble

Choose your direction before news release and "gamble" on forecasts...
Not my advice..but if your on the right side...you can make a huge profit instantly

I would advice scenario 1 if you are new or don't have a large margin to cover...

As always...Just my 2 Cents...

Thanks ShadowFx, very good advice

Good piping
Bogdus
29 traders viewing now