DislikedLooking to hold for now if we do break though i will stop my trades and take a small loss and flip to a buy but this level is important one to break it seems! {image}Ignored
Learn from your mistakes and march on.
1
- #1,167,941
- Apr 29, 2020 5:57pm Apr 29, 2020 5:57pm
- Joined Dec 2019 | Status: Trader | 5,597 Posts
Learn from your mistakes and march on.
- #1,167,942
- Apr 29, 2020 6:10pm Apr 29, 2020 6:10pm
The key to trade this pair is you need to trade both short and long scalps. Trade the range and you will make pips. I personally only trade this pair and lately I have found trading the range works well. Look for 5-10 pips per trade and you will make pips. It’s hard to predict this pair the next day so get flat at the end of the day. Wait to trade around the New York open once the pair has developed a pattern for the day. There is no magic just use the price action to guide you. You are correct we need to see a decent break of 1.0880-1.09 to see it go much higher.
Cheers
Jeff
Cheers
Jeff
I EAT PIPS
- #1,167,943
- Apr 29, 2020 6:22pm Apr 29, 2020 6:22pm
- Joined Oct 2019 | Status: Trader | 2,448 Posts
Master your mind. Master Trading.
- #1,167,945
- Apr 29, 2020 7:47pm Apr 29, 2020 7:47pm
- | Membership Revoked | Joined Jul 2020 | 7,294 Posts
- #1,167,946
- Apr 29, 2020 7:52pm Apr 29, 2020 7:52pm
Work Hard In Silence, Let Your Success Be Your Noise.
- #1,167,948
- Apr 29, 2020 8:22pm Apr 29, 2020 8:22pm
- | Membership Revoked | Joined Jul 2020 | 7,294 Posts
- #1,167,949
- Apr 29, 2020 8:29pm Apr 29, 2020 8:29pm
Hey everyone. Hope everyone's doing great this week. Very nice week with lots of economic data.
I wanted to share my thoughts on this pair. Just love to contribute. That's all. We all know the trading game. Game of using your edge in correlation to probabilities.
Anything can happen.
So fun!
The pair has mostly spent its time, except last Thursday and Friday, in this range. (Between this week's Pivot Point and R1, Fibonacci-based)
(Credit to Davit and his very disciplined approach and knowledgeable thread here on ForexFactory)
This week, till now, we saw the bearish sentiment on USD. As seen on majors USDJPY, USDCAD, AUDUSD and NZDUSD.
The fundamental bias was:
1- Both Australia and New Zealand have eased the lockdowns and started reopening their economies.
2- Grim data on US first quarter GDP.
I personally think these factors, among others that I may not be aware of, have been what has caused the decline on USD.
Seeing that we also expect negative data for the EURO tomorrow, and perhaps an ease in the number of Unemployment Claims in the US, I think the probability of the pair remaining in its range is high.
On another note, I'd like to address the possible Head and Shoulders pattern that has formed and been denied (for now). Something to consider.
Happy trading everyone. Hope you all have profitable trades!
-Moe
I wanted to share my thoughts on this pair. Just love to contribute. That's all. We all know the trading game. Game of using your edge in correlation to probabilities.
Anything can happen.
So fun!
The pair has mostly spent its time, except last Thursday and Friday, in this range. (Between this week's Pivot Point and R1, Fibonacci-based)
(Credit to Davit and his very disciplined approach and knowledgeable thread here on ForexFactory)
This week, till now, we saw the bearish sentiment on USD. As seen on majors USDJPY, USDCAD, AUDUSD and NZDUSD.
The fundamental bias was:
1- Both Australia and New Zealand have eased the lockdowns and started reopening their economies.
2- Grim data on US first quarter GDP.
I personally think these factors, among others that I may not be aware of, have been what has caused the decline on USD.
Seeing that we also expect negative data for the EURO tomorrow, and perhaps an ease in the number of Unemployment Claims in the US, I think the probability of the pair remaining in its range is high.
On another note, I'd like to address the possible Head and Shoulders pattern that has formed and been denied (for now). Something to consider.
Happy trading everyone. Hope you all have profitable trades!
-Moe
When there's a will, there's a way.
- #1,167,950
- Apr 29, 2020 8:30pm Apr 29, 2020 8:30pm
- Joined Oct 2019 | Status: Trader | 2,448 Posts
Master your mind. Master Trading.
- #1,167,951
- Apr 29, 2020 8:35pm Apr 29, 2020 8:35pm
- | Membership Revoked | Joined Jul 2020 | 7,294 Posts
- #1,167,953
- Apr 29, 2020 9:54pm Apr 29, 2020 9:54pm
- Joined Oct 2019 | Status: Trader | 2,448 Posts
Master your mind. Master Trading.
- #1,167,954
- Apr 29, 2020 10:18pm Apr 29, 2020 10:18pm
- Joined Dec 2017 | Status: Trader | 30,688 Posts
yes yes yes
- #1,167,955
- Apr 30, 2020 12:08am Apr 30, 2020 12:08am
- | Joined Jan 2018 | Status: Trader | 1,643 Posts
- #1,167,956
- Apr 30, 2020 12:34am Apr 30, 2020 12:34am
- | Joined Jan 2018 | Status: Trader | 1,643 Posts
- #1,167,957
- Apr 30, 2020 12:43am Apr 30, 2020 12:43am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,440 Posts
Looking for profitable short term trades ...|
- #1,167,958
- Apr 30, 2020 12:44am Apr 30, 2020 12:44am
- | Joined Jan 2018 | Status: Trader | 1,643 Posts
- #1,167,959
- Apr 30, 2020 12:46am Apr 30, 2020 12:46am
- | Joined Jan 2018 | Status: Trader | 1,643 Posts
