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EURUSD only

  • #80,461
  • Mar 5, 2019 10:52am Mar 5, 2019 10:52am
Quoting Fadhl
View on USD-DXY: {image}
Thank you for posting this ...As a newbie I would like some explanation with the chart please.. Does,nt make all that sense to me .. How am I suppose to learn?
LEARN THE ABILITY TO GRAB COINS FROM A HOT FURNACE
  • #80,462
  • Mar 5, 2019 10:58am Mar 5, 2019 10:58am
A different look updated from the original analysis and trade plan. Still short and holding. Can't find a single reason to buy the Euro fundamentally or technically. Bull scalpers beware.

1H
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Pride always comes before destruction.... -Proverbs 16:18
  • #80,463
  • Mar 5, 2019 11:08am Mar 5, 2019 11:08am
Quoting Expo33
A different look updated from the original analysis and trade plan. Still short and holding. Can't find a single reason to buy the Euro fundamentally or technically. Bull scalpers beware. 1H {image}
If you are looking for a reason:.. Fundamentally if you can pick up something for cheap... you buy it. The euro is cheap so people buy... easy
LEARN THE ABILITY TO GRAB COINS FROM A HOT FURNACE
  • #80,464
  • Mar 5, 2019 11:26am Mar 5, 2019 11:26am
Quoting AlphaOmega.
{quote} If you are looking for a reason:.. Fundamentally if you can pick up something for cheap... you buy it. The euro is cheap so people buy... easy
The Euro at 108 and lower is cheap for me.
Pride always comes before destruction.... -Proverbs 16:18
  • #80,465
  • Mar 5, 2019 11:38am Mar 5, 2019 11:38am
Quoting Amir_Forex
{image}

&
Attached Image (click to enlarge)
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Patterns have an underlying mathematical structure.
  • #80,466
  • Mar 5, 2019 11:43am Mar 5, 2019 11:43am
Quoting AlphaOmega.
{quote} If you are looking for a reason:.. Fundamentally if you can pick up something for cheap... you buy it. The euro is cheap so people buy... easy
Unless your definition of cheap is the right one... This is a great way to give your money to the market.
  • #80,467
  • Mar 5, 2019 11:57am Mar 5, 2019 11:57am
Quoting AlphaOmega.
{quote} Hi As a newbie I would like you to explain why you say this please?
pm me for detailed explanation. BR
  • #80,468
  • Mar 5, 2019 11:59am Mar 5, 2019 11:59am
Going down as planned. We may see even further drop before slight correction, but that will be perfect time to add more shorts... we can slide down to 1.10 to be frank....
  • #80,469
  • Mar 5, 2019 12:08pm Mar 5, 2019 12:08pm
Quoting AlphaOmega.
{quote} Thank you for posting this ...As a newbie I would like some explanation with the chart please.. Does,nt make all that sense to me .. How am I suppose to learn?
Don't look at DXY if you are trading EURUSD only.

Same for any other indexes that you hear talked about, Gold, Beans, Pork Bellies, etc. There is no correlation that is meaningful.

If you are trading EURUSD only, look at EURUSD charts only. The sooner you learn that simple lesson, the faster you will learn how to trade this pair and make bank.

If you trade baskets or grids, there are other forums better suited for that style.
Ecclesiastes 1:9
  • #80,470
  • Mar 5, 2019 12:12pm Mar 5, 2019 12:12pm
Quoting Mitiblotch
{quote} Seems I was correct. SL moved to BE. No risk! Let's fly.
Yup after it broke the bottom 1.1292...it was a legit stab.
  • #80,471
  • Mar 5, 2019 12:35pm Mar 5, 2019 12:35pm
Quoting newbegger
{quote} Don't look at DXY if you are trading EURUSD only. Same for any other indexes that you hear talked about, Gold, Beans, Pork Bellies, etc. There is no correlation that is meaningful. If you are trading EURUSD only, look at EURUSD charts only. The sooner you learn that simple lesson, the faster you will learn how to trade this pair and make bank. If you trade baskets or grids, there are other forums better suited for that style.
Thank you.... I am only trading eur/usd at the moment. Before had 4 pairs but only lost ...then I fell into Ata,s thread and from then only this pair. A new world open as I am actually learning how to trade.. But I am so confused by the different trading styles and charts.. thank for replying to the question
LEARN THE ABILITY TO GRAB COINS FROM A HOT FURNACE
  • #80,472
  • Mar 5, 2019 12:41pm Mar 5, 2019 12:41pm
On the bigger picture M1, W1 there's quite a lot of scope for significant downside. Won't happen tomorrow, but the longer view could unfold as the year progresses. Interestingly we're at near median value, as to when the Euro was first introduced over 20 years ago.
  • #80,473
  • Mar 5, 2019 12:51pm Mar 5, 2019 12:51pm
Quoting AlphaOmega.
{quote} Thank you for posting this ...As a newbie I would like some explanation with the chart please.. Does,nt make all that sense to me .. How am I suppose to learn?
The DXY chart is easy to read. What I posted tells you that USD outlook is Buy for ST. It will fold in 3-5 waves. I think we got wave #1, a wave #2 (retrace) and wave 3 my expected target.
As DXY index is composed of major currencies, EURUSD represents 60% of it. Hence it might be relevant to consider. As well I posted my EURUSD chart too.
  • #80,474
  • Edited 1:23pm Mar 5, 2019 12:57pm | Edited 1:23pm
Quoting kayikayi
{quote} Yup after it broke the bottom 1.1292...it was a legit stab.
Sometime last year we were at this same price at almost the same time of the day. I bought 1.1296 and closed at 1.1306 just before close of day because I thought it may come back down. I was wrong. By morning price was at 1.1319 and price went from there all the way up. May not happen same, as dynamics are different now. However, I'm holding this trade to be taken out at BE or I get at least 50 pips.
  • #80,475
  • Mar 5, 2019 1:10pm Mar 5, 2019 1:10pm
Quoting Fadhl
{quote} The DXY chart is easy to read. What I posted tells you that USD outlook is Buy for ST. It will fold in 3-5 waves. I think we got wave #1, a wave #2 (retrace) and wave 3 my expected target. As DXY index is composed of major currencies, EURUSD represents 60% of it. Hence it might be relevant to consider. As well I posted my EURUSD chart too.
Thank you ... Yes I looked at both of the charts and I understand your eur/usd chart as to the DXY chart. I did,t know there is a chart where USD is measured against other currencies, I thought you only get pairs
LEARN THE ABILITY TO GRAB COINS FROM A HOT FURNACE
  • #80,476
  • Mar 5, 2019 1:20pm Mar 5, 2019 1:20pm
Fiber Daily Chart View
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Patterns have an underlying mathematical structure.
  • #80,477
  • Mar 5, 2019 1:33pm Mar 5, 2019 1:33pm
And so its bedtime bonso,s here ... Hope something great will happen to you all... tomorrow is a work day!! good night
LEARN THE ABILITY TO GRAB COINS FROM A HOT FURNACE
  • #80,478
  • Mar 5, 2019 9:40pm Mar 5, 2019 9:40pm
This is my plan for today
i try to wait for marking zone and also observation on trend line
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  • #80,479
  • Mar 5, 2019 9:44pm Mar 5, 2019 9:44pm
Weekly Quick Status Update

1.1285 is highly crucial but no news until NY open. Meaning: I expect a slight bounce that might create a "handle" to the cup formation on H1 or M15. Nothing for sure.

*Tricky situation here because instead of a "cup&handle" pattern, the situation can also interpreted as a double bottom. On H1, candles being below the green line gives bears the upper hand. But still, trade careful no matter which direction you are biased. Peace...

Stay Green
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Focus only on what truly matters!
  • #80,480
  • Mar 5, 2019 9:59pm Mar 5, 2019 9:59pm
closed long side for 6 pip loss. I am looking and all the majors have USD strength. I do not see EUR being exception so if long is wrong, get shorty.

Short at 1,1294.
Targeting 1.1217
Hard Stop 1.1387 and time stop end of Tokyo lunch on Thursday.

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edit - .1 lot to start will add .1 every 20 pips either direction as orders are in and I am off.

Asta Manyiana
Ecclesiastes 1:9
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