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Trading EURUSD only 43,752 replies

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EURUSD only

Quoting Ata-Turkoglu
{quote} Big timeframe you said? Ok... here comes the biggest timeframe for you... write that level down: 1.0082! Best wishes {image}
Hello Ata
Goodmorning
Please see my pattern
I guess we have a h&SH hear
If is it true
So tp is near 0.9900
Are you agree with me ?
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Signed off early yesterday.

Price did dip as expected. Hit my S3 level this morning. Entered a long trade there.
I expect a little bounce from there today. My target is 20-25 pips.

Two observations:

  1. We might have entered the final phase (E) of the Wyckoff distribution.
  2. The smaller accumulation phase (from 1.025 downward) might not play out exactly to the classical textbook example.

I do have another entry level eyed, S4 at 1.001. Price may or may not hit that level, depending on the volume of safe haven flow in the market.
For a pair like EURUSD to move 350 pips in a week (if it goes to 1.001), that's just not sustainable long term.

I'm not concern because I'm trading on low leverage. My drawdown on EURUSD pair so far is at low single digit percentage.

Stay safe everybody. Have a good weekend.

Cheers,
Cat

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Quoting cchin
Signed off early yesterday. Price did dip as expected. Hit my S3 level this morning. Entered a long trade there. I expect a little bounce from there today. My target is 20-25 pips. Two observations: We might have entered the final phase (E) of the Wyckoff distribution. The smaller accumulation phase (from 1.025 downward) might not play out exactly to the classical textbook example. I do have another entry level eyed, S4 at 1.001. Price may or may not hit that level, depending on the volume of safe haven flow in the market. For a pair like EURUSD...
Hi mate, i see from your picture that you had bought at 1.03818 which means last month price when EU move around 1.03 - 1.04 ish.
doesn't that mean you have to pay swap each day for early buy from one month ago till now?
isn't that it will drain your balance & equity each day for the swap and also including the triple swap for each wednesday?

i just say that you have a big confidence that the price will be back even in this terrible situation of EU.
Quoting Ata-Turkoglu
Me, when reading comments that try to enlighten me... {image}
Funny. "Want to help us all". Lol... Meanwhile I am on a 1000% plus profit on my account. Let's believe English isn't his first language. Trend is a million pips down, still sell it. Afterall trend is down. Hehehe... We always forget that variety is a spice of life. Humans will always find multiple ways to trade.
https://www.myfxbook.com/members/mitiblotch/mt5-10567385/9464692
Quoting hans91
{quote} Hi mate, i see from your picture that you had bought at 1.03818 which means last month price when EU move around 1.03 - 1.04 ish. doesn't that mean you have to pay swap each day for early buy from one month ago till now? isn't that it will drain your balance & equity each day for the swap and also including the triple swap for each wednesday? i just say that you have a big confidence that the price will be back even in this terrible situation of EU.
Thanks for pointing out on swap.
Yes, I do need to pay for overnight roll over on open positions.

I currently have 3 long positions open since 5 July 2022 at 1.0403, 1.03818 and 1.03596.
Those are the positions I accumulated when the price plunged from 1.044 to 1.030 after US Independence Day.
The rest, from 1.03265 downward were open since 11 August 2022 (last Thursday, after US CPI peak).

On swaps, I've accumulated -$2.5 on each of the three long positions since July. Let's work that out together.
Each of them are currently down by 330 pips.
So, in the event that I still need to hold them in drawdown, say for another 90 days, I expect the swap for each position to run into:
$1000*(1.75-0+0.2)/100*1.04*365/90 = $5

That brings up the discussion on interest rate differentials. I calculated using rates on 5 July, when ECB was at 0% and Fed at 1.75%.
Today, that differential is at 2.00, so that would mean from 27 July onwards, holding for 90 days would incur $5.70*3 = $17.10.
Last time I check the broker's commission was at 0.2%. It differs. I don't name any broker in public domain, so it's up to anyone to use whichever suits them.

The triple swap is just the weekend swap applied to positions settled the following week, so it's accounted for in my days calculation above.

Here's how I plan to work this out (if my longs go seriously down).
Currently I have 10 positions open, my middle point is at 1.028.
If I so desperately want to close my three longs entered since 5 July 2022, I could wait for the price to go back to that level, and knock off those longs with my already profitable trades. That would result in a breakeven.
However, on EURUSD I don't have to use that method for quite a long time now.

My tolerance on each position is -500 pips. That might sound like a huge amount, but it's okay to me.
I trade each pair as if I actually invest $1,000 in cash. It may cost only $100 on margin, but I don't look that way.
So, with 10 postions open, I'm treating as I've exchanged $10,000 in cash for whatever amount of Euros.

Best,
Cat
Quoting astoen
{image}
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Quoting cchin
{quote} Thanks for pointing out on swap. Yes, I do need to pay for overnight roll over on open positions. I currently have 3 long positions open since 5 July 2022 at 1.0403, 1.03818 and 1.03596. Those are the positions I accumulated when the price plunged from 1.044 to 1.030 after US Independence Day. The rest, from 1.03265 downward were open since 11 August 2022 (last Thursday, after US CPI peak). On swaps, I've accumulated -$2.5 on each of the three long positions since July. Let's work that out together. Each of them are currently down by 330...
You have your trades well planned and that's commendable. That's exactly what I like to see. And it means everyone has a way they trade to be profitable. Your broker's swaps are quite minimal.
https://www.myfxbook.com/members/mitiblotch/mt5-10567385/9464692
We are in an important area on a daily basis.
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traders helps traders
EU broke above the falling trendline - time of writing and is looking to reach 1.0100 resistance at 15 min. Probably its going to fail again. Vol is bigger - 68 pips!

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Feels right this time!
H1 Decision
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Time is everything; Everything.
I wouldn't buy this with gambling money.
https://fxssi.com/tools/current-ratio

retailers now 70% long with increasing share
Another day, another dollar.
Quoting nic9man
https://fxssi.com/tools/current-ratio retailers now 70% long with increasing share
Then they'll likely get burned.
No fear. The price will drop. I see the game.
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traders helps traders
Quoting mustafayucel
No fear. The price will drop. I see the game. {image}
@BE Cheers
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traders helps traders
Quoting mustafayucel
No fear. The price will drop. I see the game. {image}
Looks like it but the confirmations are weak. Cheers !
Time is everything; Everything.
CLOSED

In addition. I love the set below. mind blowing i recommend
Inserted Video
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traders helps traders
Meanwhile, on H1...

For now, bulls are still trying to get above this low angle descending channel... Therefore: 1.0088 is key resistance!

*Normally I would try to sell 1.0088 BUT because we are at monthly support: While above 1.0082, I am a long-scalper hoping that bulls do some profitable work!
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Be a seer, not a looker!
Ata's Trend Hunter V2.0 All Time Return: 13.2%
and divergence on M15....
Good morning Folks. We are now pretty close to parity again. Since there is probably no game-changing "interest rate adjustment action" planned in ECB or FED policies, there is also no reason to think EUR is gonna get stronger or USD gonna get weeker. As for the intraday today, I expect the market go sideways or continue down towards the parity. There will be lack of institutional buyers, I suspect. Anyway, I am staying on the sidelines for now. Trade safe, control your emotions!
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