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EURUSD - From Here to There

  • #101
  • Mar 9, 2020 10:54pm Mar 9, 2020 10:54pm
Quoting AmmaBoss
{quote} It's literally impossible for everyone to make money trading, as trading is in fact a zero-sum game once you account for the spread. The money you earn must come from somewhere else, Ie: A bank, hedge fund or even a retailer therefore for every trade you win, someone lost slightly more. By design, some must win and some must lose so yea at the most basic level trading is a competition.
your assumption is everybody in the forex is a trader, either retail or institutional. It’s not correct. There are billions and billions of currencies transactions happens everyday which is not initiated by a trader. For example, Apple has to pay salary of its workers in China, they exchange USD to Yuan and pay the Chines workers in Yuan. Apple does not care about the rate of USD vs Yuan. Just imagine how many of these kinds of transactions happen every single day.
  • #102
  • Edited 11:24pm Mar 9, 2020 11:08pm | Edited 11:24pm
Be careful about shorting EURUSD at this time, if that's what you are considering. Wait for confirmation! There are signs a long awaited retracement may be underway, but anything can happen. We don't want to get caught in a bear trap. USD is still fragile. Only pull the trigger on strong signals.
Learn from your mistakes and march on.
  • #103
  • Mar 9, 2020 11:37pm Mar 9, 2020 11:37pm
In the scalp. Lowering the stop as it moves along. Payroll tax jaw bone appears to be moving the dollar and maybe technical bounce. Gov'ts bring out whatever guns they have left.

Actually looking for the 1.13 area as a target. But lowering the stop regardless. Keep the money.

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  • #104
  • Mar 9, 2020 11:44pm Mar 9, 2020 11:44pm
Patience welcomes opportunities fear pushes away.

Be patient. Wait for the right moment to come. And then seize it!

Don't let fear push your opportunities away.
Learn from your mistakes and march on.
  • #105
  • Mar 9, 2020 11:57pm Mar 9, 2020 11:57pm
I want to see a solid close below the psychological level [1.135].

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Learn from your mistakes and march on.
  • #106
  • Mar 10, 2020 3:44am Mar 10, 2020 3:44am
Quoting umbrella man
{quote} your assumption is everybody in the forex is a trader, either retail or institutional. It’s not correct. There are billions and billions of currencies transactions happens everyday which is not initiated by a trader. For example, Apple has to pay salary of its workers in China, they exchange USD to Yuan and pay the Chines workers in Yuan. Apple does not care about the rate of USD vs Yuan. Just imagine how many of these kinds of transactions happen every single day.
It is that. But don't bother explaining to him for a long. He will keep replying that it is a competition. He will compete in trading, and we will trade forex.
  • #107
  • Mar 10, 2020 3:48am Mar 10, 2020 3:48am
Now the EMAs are working as resistance. Been a long time since that happened.

This payroll tax will be big. As big as they can make it. $800 bil? $1 Trillion? The last grand hurrah of the mother of all bull markets.

Markets will still be sitting highly valued on a historic basis but all that money running around post 2008 doing what its going to do.

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  • #108
  • Mar 10, 2020 5:49am Mar 10, 2020 5:49am
To those of you who may be new to trading, I hope you can see now why I stressed the importance of waiting for confirmation before jumping into a trade. USD is still showing signs of weakness. Now is NOT the right time to sell.

Hopefully, this will end soon, and we will get back to normal trading conditions.
Learn from your mistakes and march on.
  • #109
  • Mar 10, 2020 9:00am Mar 10, 2020 9:00am
Done for today.
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  • #110
  • Mar 10, 2020 12:43pm Mar 10, 2020 12:43pm
Quoting enarco
Now the EMAs are working as resistance. Been a long time since that happened. This payroll tax will be big. As big as they can make it. $800 bil? $1 Trillion? The last grand hurrah of the mother of all bull markets. Markets will still be sitting highly valued on a historic basis but all that money running around post 2008 doing what its going to do. {image}
1.13 target was hit and I have closed out as well.

I think the stimulus thing will happen but it will need to get passed and be similar maybe to 2008 with congress jaw boning over what needs to be done etc. Euro's bull run is not over I don't think.
  • #111
  • Mar 10, 2020 3:46pm Mar 10, 2020 3:46pm
Be on your guard at the following prices.

Range:
1.11652 - 1.10964

Could go as low as:
61.8% - 1.1052
78.6% - 1.0928
Learn from your mistakes and march on.
  • #112
  • Mar 10, 2020 4:08pm Mar 10, 2020 4:08pm
Back to no man's land. Though with the MACD turn from an extreme low and a bounce it could be a very tight scalp for those willing to risk it. Long that is.

But now look for the EMA's to be tagged again and if they fall back down we are confirming some short action and weakness. If it blows through then bully is winning the day and time to consider or review the plan.

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  • #113
  • Mar 10, 2020 4:17pm Mar 10, 2020 4:17pm
This warms my heart!

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Learn from your mistakes and march on.
  • #114
  • Mar 10, 2020 5:10pm Mar 10, 2020 5:10pm
Pardon my message here2there, just wanted to share an indicator for someone, already told them how to use it. Hope everyone is smashing it this week. By the way, I think your post showing the large amount of Oanda sell orders above 1.14 was awesome. And it was spot on. Stay green.
p.s. I am waiting on the other indicator to get below 0.00 before entering long.
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"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #115
  • Mar 10, 2020 5:38pm Mar 10, 2020 5:38pm
Dow futures already down big aftermarket, careful with shorts.
  • #116
  • Edited 6:05pm Mar 10, 2020 5:54pm | Edited 6:05pm
Quoting investing101
Dow futures already down big aftermarket, careful with shorts.
Well, it did go up quite strongly today, so it wouldn't be surprising to see a 50% retrace.

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It's certainly something to keep our eyes on, but nothing to panic over.

Now if it falls below 23,624, then that will be very concerning.
Learn from your mistakes and march on.
  • #117
  • Mar 10, 2020 6:12pm Mar 10, 2020 6:12pm
  •  dmj120
  • | Joined Jan 2020 | Status: Newbie with professional aspiration | 108 Posts
Quoting here2there
.... Hopefully, this will end soon, and we will get back to normal trading conditions.
I closed a short scalp -2.5 pips just because this uncertainty has me anxious, and can't spend time reviewing.
School of hard knocks
dmj120 Return This Year: na
  • #118
  • Mar 10, 2020 7:07pm Mar 10, 2020 7:07pm
BEIJING (Reuters) - China reported an uptick in new confirmed cases of coronavirus infections, reversing four straight days of declines, driven by infected individuals arriving from abroad.
  • #119
  • Mar 10, 2020 7:23pm Mar 10, 2020 7:23pm
Quoting investing101
BEIJING (Reuters) - China reported an uptick in new confirmed cases of coronavirus infections, reversing four straight days of declines, driven by infected individuals arriving from abroad.
Please stay on topic. This thread is about EURUSD and all things related to it, not the coronavirus.
Learn from your mistakes and march on.
  • #120
  • Mar 10, 2020 7:27pm Mar 10, 2020 7:27pm
Quoting dmj120
{quote} I closed a short scalp -2.5 pips just because this uncertainty has me anxious, and can't spend time reviewing.
Understandable. There is a lot of uncertainty surrounding USD at the moment. However, it is starting to look better for bears in the short term for EURUSD.
Learn from your mistakes and march on.
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