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EURUSD only

  • #82,761
  • Apr 3, 2019 4:44am Apr 3, 2019 4:44am
Quoting Mystskull
{quote} Cancelled pending buy order, did not realize that ADP Non farm was coming out soon. Will wait for after news before making a new order.
i suspect, that like yesterday's news, it will be negative for USD... but these days news hardly moves the market anyway.
  • #82,762
  • Apr 3, 2019 4:45am Apr 3, 2019 4:45am
Quoting ghussain
{quote} Sir What is carry trades
...it is when you buy a pair where both currencies have a big interest difference so you earn positive swap. And then you hold this position on, collecting the swap and invest this earned swap in buying additional positions.... (until all blows up in a flash retracement... sometimes )
  • #82,763
  • Apr 3, 2019 4:51am Apr 3, 2019 4:51am
Quoting ghussain
{quote} Sir What is carry trades
Basic concept:

Let's say you have no money.

One bank from Country A tells you: "Hey, I can give you money, but for every 100 usd you borrow I want 110 usd from you back one month later." So the bank wants 10 usd interest. You say wow that's good deal and you borrow money from that bank.

Then there is a second Country B. They say: "Hey, if you deposit 100 usd to our bank, I will give you 120 usd one month later." Now your foxy brain starts thinking: If I take the 100 usd from country A bank and give it to country B bank then one month later country B will give me 20 usd interest and I pay only 10 usd interest to country A. So I can keep 10 usd for every 100 usd I borrow. That's great. And once you do such trade it is called "carry trade".

In other words, it is a nasty (immoral) deal where you make use of one country's economical weakness and another country's economical strength.

Stay Green
Focus only on what truly matters!
  • #82,764
  • Apr 3, 2019 4:53am Apr 3, 2019 4:53am
EUR stalling on the upside channel break. Usually a good reversal pattern. Alternatively strong upside continuation possible.
Watch the PA around the upper channel line.
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  • #82,765
  • Apr 3, 2019 5:21am Apr 3, 2019 5:21am
But at the same time you are exposed to the market. You are short eur/usd to get the differential interest between the two, but if market moves against you by few pips you are in a loss, isn't it?
  • #82,766
  • Apr 3, 2019 5:23am Apr 3, 2019 5:23am
Quoting Ker
But at the same time you are exposed to the market. You are short eur/usd to get the differential interest between the two, but if market moves against you by few pips you are in a loss, isn't it?
yes exactly. but the pairs most used are EUR/USD and CHF/USD... as long as you're not over leveraged you can make money on it. especially if you put a call option to protect from movement.
  • #82,767
  • Apr 3, 2019 5:29am Apr 3, 2019 5:29am
Closed my shorts with around 5 pips profit FYI, bit scared by the bad US data. Paradoxically once more it is making EU go down

But there is too much contention in this area clearly - and there was not the immediate reaction I had expected from bears, I am no longer happy to hold shorts (or longs) for now, until that is settled.
  • #82,768
  • Apr 3, 2019 6:13am Apr 3, 2019 6:13am
Quoting Ata-Turkoglu
{quote} I see an "Inverted Head & Shoulders" pattern slowly building on H1.. The point D of the target of shark pattern that you see on my H1 chart (which can trigger a bullish 5-0 pattern later) will probably become the right shoulder (1.1227 area). Plenty of time to decide for long-term buy opportunities. No rush.. Stay Green {image}
I like this shark. I sold 1.1253 because it's weekly pivot and now just booked profit at 1.1235. I hope we can get a convincing area to buy towards your max point C which also corresponds to weekly R1.
  • #82,769
  • Apr 3, 2019 6:34am Apr 3, 2019 6:34am
Sell 1.12326
SL 1.12526
TP 1.12026

On M30 it has closed below the low of the bull candle before the rounding top with a lower RSI reading. Suggesting possible down move incoming.
  • #82,770
  • Apr 3, 2019 6:37am Apr 3, 2019 6:37am
EU1H
Attached Image (click to enlarge)
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EUDaily
Attached Image (click to enlarge)
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Don't believe me just watch!
  • #82,771
  • Apr 3, 2019 6:42am Apr 3, 2019 6:42am
Quoting Mystskull
Sell 1.12326 SL 1.12526 TP 1.12026 On M30 it has closed below the low of the bull candle before the rounding top with a lower RSI reading. Suggesting possible down move incoming.
Got stopped out at BE... Maybe i really do move them too quickly.
  • #82,773
  • Apr 3, 2019 6:49am Apr 3, 2019 6:49am
Quoting Ata-Turkoglu
{quote} In other words, it is a nasty (immoral) deal where you make use of one country's economical weakness and another country's economical strength. Stay Green
You perfectly explained the concept of carry trade. If you remember, before the 2008 financial crisis Australia had interest rates of 5-7% and Japan had a rate of barely 0.1%. The favorite carry trade was long AUDJPY because of two reasons. First AUDJPY had an ATR lower than today so the chances of the pair going down fast was remote. Second traders collected the interest differential through the swap. At that time I had a broker that paid/charged swap and another one that did not charge swap. With the first broker I was long AUDJPY and with the second broker I was short. These were no risk trades so I collected the free money. Today we can do the same with TRYJPY since the Turkish interest rate is 24% and the Japanese interest rate is -0.1%. The only problem are that most brokers don't offer that pair and those that offer it have a large spread.
  • #82,774
  • Apr 3, 2019 6:53am Apr 3, 2019 6:53am
Quoting Ysfbeck
watch Eur/Chf when it reaches 1.1160 support again, if broken, Eu will go to hell, i buy there with stop losses 20 pip both EU and EC, GL.
Members here are only interested in EURUSD.. hence the name of the thread.. so please more careful when posting next time.. also take a look at Page-1 rules please..

Stay Green
Focus only on what truly matters!
  • #82,775
  • Apr 3, 2019 7:04am Apr 3, 2019 7:04am
there's always a gap on my chart, (TF M15) even though it's not at the beginning of the week ... can anyone explain?
thank you
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  • #82,776
  • Apr 3, 2019 7:07am Apr 3, 2019 7:07am
Quoting reisya90
there's always a gap on my chart, (tf m15) even though it's not at the beginning of the week ... Can anyone explain? Thank you {image}
very strange
what happened for this to happen ??
  • #82,777
  • Apr 3, 2019 7:09am Apr 3, 2019 7:09am
Quoting AndersonJoJo
{quote} very strange what happened for this to happen ??
Thats why... this happened a few since I started trading this year ... is this normal?
  • #82,778
  • Apr 3, 2019 7:09am Apr 3, 2019 7:09am
Quoting Reisya90
there's always a gap on my chart, (TF M15) even though it's not at the beginning of the week ... can anyone explain? thank you {image}
Just a price gap on the broker data feed - my broker is the same:

Attached Image


cheers
  • #82,779
  • Apr 3, 2019 7:10am Apr 3, 2019 7:10am
Quoting maahome
{quote} Just a price gap on the broker data feed - my broker is the same: {image} cheers
do u use XM Broker?
  • #82,780
  • Apr 3, 2019 7:11am Apr 3, 2019 7:11am
Sold at 1.1242 Target 1.12085
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