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EURUSD only

  • #28,821
  • Jul 17, 2018 6:30am Jul 17, 2018 6:30am
Quoting Teek
{quote} the DXY is a basket of the USD measuring unequaly against six other currencies, AND the DXY is a traded market in itself. It is much more beneficial to look at the approproate currencies themselfs, instead of staring at the DXY and make wild guessings for your EUR/USD trading. just saying...
Well said.. at least one person on the thread who speaks exactly my language.. thanks brother.. can't agree more..

*and what is more funnier to me is that EURO is not even one of those six

Stay Green
Focus only on what truly matters!
  • #28,822
  • Jul 17, 2018 6:31am Jul 17, 2018 6:31am
Quoting amikaking
{quote} me too... should have shorted for some quick scalps but my mind is too heavy biased for the recent bull move...
I also felt price was strong enough to reach my preferred sell price. However, many times price just turns back a few pips from there leaving you with an empty feeling.

Now I sit on my hands and see what happens. But price can easily be thrown down from here, especially if Powell gives USD a boost.
  • #28,823
  • Edited 6:51am Jul 17, 2018 6:32am | Edited 6:51am
for simplicity sake... let’s just focus on today’s trading range

with EU & London candle busted out... and now price hovers near the key 1.1709 level i mention last week, the show is up to NY session & Fed Powell testimony, which would spark volatility for future hints

damn... i do hope iOS MT4 can have the hand drawing tool so i dont have to use my photo app to do my notes

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edit: H4 dollar possibility

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  • #28,824
  • Jul 17, 2018 6:35am Jul 17, 2018 6:35am
Quoting Teek
{quote} the DXY is a basket of the USD measuring unequaly against six other currencies, AND the DXY is a traded market in itself. It is much more beneficial to look at the approproate currencies themselfs, instead of staring at the DXY and make wild guessings for your EUR/USD trading. just saying...
well said brother, looking DXY is NOT equal to as looking at EURUSD
  • #28,825
  • Jul 17, 2018 6:37am Jul 17, 2018 6:37am
Quoting Mitiblotch
{quote} I also felt price was strong enough to reach my preferred sell price. However, many times price just turns back a few pips from there leaving you with an empty feeling. Now I sit on my hands and see what happens. But price can easily be thrown down from here, especially if Powell gives USD a boost.

One advice bro do not wait for the same price that every1 is hoping for, try to sacrifice few pips which I normally do and believe me it's working thats how most of the times I am able to close my wining trades.

Wish you the best .
Trades technical moves enforced by fundamentals
  • #28,826
  • Jul 17, 2018 6:42am Jul 17, 2018 6:42am
Quoting post
{quote} One advice bro do not wait for the same price that every1 is hoping for, try to sacrifice few pips which I normally do and believe me It's working thats how most of the times I am able to close my wining trades. Wish you the best .
Yeah, thank you.
  • #28,827
  • Jul 17, 2018 6:47am Jul 17, 2018 6:47am
Quick H1 Outlook

Below is how I see the important levels until tomorrow based on London opening price levels..

Stay Green
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Focus only on what truly matters!
  • #28,828
  • Jul 17, 2018 6:55am Jul 17, 2018 6:55am
Quoting Ata-Turkoglu
{quote} Well said.. at least one person on the thread who speaks exactly my language.. thanks brother.. can't agree more.. *and what is more funnier to me is that EURO is not even one of those six Stay Green
Hi Ata , I think you got it wrong brother

This is what I found.
The U.S. Dollar Index (USDX, DXY, DX) is an index (or measure) of the value of the US Dollar relative to a basket of foreign currencies

  1. Euro (EUR), 57.6% weight
  2. Japanese yen (JPY) 13.6% weight
  3. Pound sterling (GBP), 11.9% weight
  4. Canadian dollar (CAD), 9.1% weight
  5. Swedish krona (SEK), 4.2% weight
  6. Swiss franc (CHF) 3.6% weight

OR I could be wrong.

Trades technical moves enforced by fundamentals
  • #28,829
  • Jul 17, 2018 6:58am Jul 17, 2018 6:58am
Quoting post
{quote} Hi Ata , I think you got it wrong brother This is what I found. The U.S. Dollar Index (USDX, DXY, DX) is an index (or measure) of the value of the US Dollar relative to a basket of foreign currencies Euro (EUR), 57.6% weight Japanese yen (JPY) 13.6% weight Pound sterling (GBP), 11.9% weight Canadian dollar (CAD),...
True.. my bad.. because I really don't care.. thanks for clarification though

Stay Green
Focus only on what truly matters!
  • #28,830
  • Jul 17, 2018 7:00am Jul 17, 2018 7:00am
luckily i closed my longs

this is really starting to look like a bull trap , at least intraday
  • #28,831
  • Jul 17, 2018 7:10am Jul 17, 2018 7:10am
Man, I really thought this was going to be a bull move considering the divergence on the daily and hour 4.

Honestly wtf?
  • #28,832
  • Jul 17, 2018 7:14am Jul 17, 2018 7:14am
daily pivot to the rescue
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yes yes yes
  • #28,833
  • Jul 17, 2018 7:20am Jul 17, 2018 7:20am
I hope it holds above 1.1700, that drop was nuts, starting to think this is a horizontal channel rather than a bull.
  • #28,834
  • Jul 17, 2018 7:22am Jul 17, 2018 7:22am
Quoting Moty
daily pivot to the rescue {image}
Well sheet , I thought it was the weekly average price ,l , little one from the daily ave price ,,, slightly bigger from here , I may want to hit my trigger finger with a hammer shtly but time will tell , hard stp 50 away ,, mental stp weekly piv would be about it , lets rock,, lol
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  • #28,835
  • Jul 17, 2018 7:22am Jul 17, 2018 7:22am
Quoting post
{quote} Hi Ata , I think you got it wrong brother This is what I found. The U.S. Dollar Index (USDX, DXY, DX) is an index (or measure) of the value of the US Dollar relative to a basket of foreign currencies Euro (EUR), 57.6% weight Japanese yen (JPY) 13.6% weight Pound sterling (GBP), 11.9% weight Canadian dollar (CAD),...
you are right, but it is a traded market.
It was invented as a futures market, not to measure the strength or weakness of a currencie.
If you want to know the USD, look at Oil (WTI), Gas, the 10y and 2y, the overall geopolitical situation, global and national economie....
Please learn how to evaluate a currencie. Then evaluate both currencies that you want to trade (in this case the USD and the Euro), then measure it against all other currencies and driving factors.
The USD Index in itdself is about the worst indication for the EUR/USD that you can look at, there is no straight or easy to grasp correlation with it.
It's a Futures market, nothing else.

Instead, if you want to keep it very very very simple, look at Oil (WTI) for the Dollar and Gold for the Euro.
If you want to go a little more into intermaket correlations, look at US30, S&P500, Russel and NASDAQ for the USD and German30 for the Euro.
Likewise, if you want to trade the Aussie you must know about it's correlation with copper and iron...
and so on and so on... and then it all intercorrelates with each other again.
Also, correlations are never set in stone, they shift and turn all the time....

my advice for newbies:
- all this shit is way too complicated for you!
- keep it simple, learn about Support & Resistance, Supply & Demand, do a "top down" very simple analysis.
- remove all other crap from your chart, chances are you don't know what a MA is anyway, not even speaking about a MACD or an RSI...
- remove all distactions, concentrate on the Majors (stay away from "the beast" GBP/JPY, you have been warned).. and find a market that moves (you are trying to trade a very slow mover with the EUR/USD, therefor it's very technical).
- forget the DXY nonsense, learn to read price and charts. Everything else comes much much later.
this shit takes time! It takes years! Don't try to run before you can walk.
you are not expected to understand this
  • #28,836
  • Jul 17, 2018 7:31am Jul 17, 2018 7:31am
USD rising across the board

Powell could wreak havoc indeed

there could shorting opportunities for bears
  • #28,837
  • Jul 17, 2018 7:32am Jul 17, 2018 7:32am
I find the EUR/USD - USDX correlation quite useful.

//////////
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  • #28,838
  • Jul 17, 2018 7:36am Jul 17, 2018 7:36am
Quoting MXT
USD rising across the board Powell could wreak havoc indeed there could shorting opportunities for bears
you are late to the party my friend.
My orders are filled since quite a while across the board
you are not expected to understand this
  • #28,839
  • Jul 17, 2018 7:37am Jul 17, 2018 7:37am
Quoting okshop
{quote} H4 update {image}
H4 update
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Self discipline It is a practice
  • #28,840
  • Jul 17, 2018 7:45am Jul 17, 2018 7:45am
Quoting MXT
luckily i closed my longs this is really starting to look like a bull trap , at least intraday
selling EU 1.1705, tp 1.1670
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