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EURUSD

  • #1,178,321
  • Aug 11, 2020 9:15am Aug 11, 2020 9:15am
Seems H1 Middle need to break for going further down
PaRaM
  • #1,178,322
  • Aug 11, 2020 9:16am Aug 11, 2020 9:16am
The Daily candle is 86 pips, and today being a "non-event" day for EUR and for USD, hence I think 86 pips is already quite a lot. (High 1.1808, low 1.1722)
That's my lazy way eye-ball way of analyzing if we are "done for the day" for a particular direction, so that I can ditch ATR-14.
LOL this is very unscientific, so I dun mind being laughed at.
  • #1,178,323
  • Aug 11, 2020 9:58am Aug 11, 2020 9:58am
Quoting OxyGen_FX
The Daily candle is 86 pips, and today being a "non-event" day for EUR and for USD, hence I think 86 pips is already quite a lot. (High 1.1808, low 1.1722) That's my lazy way eye-ball way of analyzing if we are "done for the day" for a particular direction, so that I can ditch ATR-14. LOL this is very unscientific, so I dun mind being laughed at.
Let just say toying in between
Fundamental provide Volume, Technical shows Direction
  • #1,178,324
  • Aug 11, 2020 10:10am Aug 11, 2020 10:10am
1.1800 is strong resistance, but I think that the EU isn't over with its upside yet and the news that a vaccine from Russia is out can help the carry trade against Gold and USD.

I see EU as a funding currency for the markets, if the markets in Europe are well then investors are buying EU.
Looking for profitable short term trades ...|
  • #1,178,325
  • Aug 11, 2020 10:31am Aug 11, 2020 10:31am
Quoting Techanalyst
{quote} Good luck, you're going to need it!! This is going all the way up to 2.08xx. {image}
kakaka I buy when you buy. 9845.... xD... after tonight, I may follow you again on other pairs. When it comes to news trading. I am a market killer.
Trade what you see, take what the market gives you.
  • #1,178,326
  • Aug 11, 2020 10:38am Aug 11, 2020 10:38am
My view Eur stay in bearish trend daily,how far down it goes i dont know,but during 3-4-5 days it doesnt rise.
  • #1,178,327
  • Aug 11, 2020 10:41am Aug 11, 2020 10:41am
The name of the EURUSD game atm is play the sideways if you can, scalp! For me, I'm on the sidelines.

Stay safe, trade safe.

KP

Quoting viktoriaxz
My view Eur stay in bearish trend daily,how far down it goes i dont know,but during 3-4-5 days it doesnt rise.
Do your homework, follow the footprints of smart money
  • #1,178,328
  • Aug 11, 2020 10:43am Aug 11, 2020 10:43am
Quoting viktoriaxz
My view Eur stay in bearish trend daily,how far down it goes i dont know,but during 3-4-5 days it doesnt rise.
Yeah,


lets recap.
EU DROP from 1.1900 down to 1.1825... after that Unemployment on friday push it down to 1.178x and then we started opening at 1.1790-1.1800ish... from there we been trading 1.1720-1.1800. Havent seen a recovery yet. Its been a down trend trading.
As long as we have yet to clear out 1.1810... I dont think there is an upside bull trading. only selling and buying retracements.
This is just my take and my view only according to 30m, 1h, 4h, 1d time frame.
weekly and monthly still look like an uptrend but weekly is running out of juice and monthly seem to need another candle to open up bb further north bc right now it does not seem like it can go further up this month.
Trade what you see, take what the market gives you.
  • #1,178,329
  • Aug 11, 2020 10:44am Aug 11, 2020 10:44am
Quoting Js3mwtRc
1.1800 is strong resistance, but I think that the EU isn't over with its upside yet and the news that a vaccine from Russia is out can help the carry trade against Gold and USD. I see EU as a funding currency for the markets, if the markets in Europe are well then investors are buying EU.
what is good with the EU market? Or you mean that a 10% more in increase of EUR towards the dollar will make the export market easier? In my humble newbie opinion, the usd dollar fall is not market driven, it is driven by FED that keeps on printing and allowing dollar swaps to be open abroad...
  • #1,178,330
  • Aug 11, 2020 10:52am Aug 11, 2020 10:52am
Quoting krst8
{quote} what is good with the EU market? Or you mean that a 10% more in increase of EUR towards the dollar will make the export market easier? In my humble newbie opinion, the usd dollar fall is not market driven, it is driven by FED that keeps on printing and allowing dollar swaps to be open abroad...
Imo just better don't try to guess particular reason for EU rise or fall. We simply just trade it.
Fundamental provide Volume, Technical shows Direction
  • #1,178,331
  • Aug 11, 2020 10:52am Aug 11, 2020 10:52am
Quoting krst8
{quote} what is good with the EU market? Or you mean that a 10% more in increase of EUR towards the dollar will make the export market easier? In my humble newbie opinion, the usd dollar fall is not market driven, it is driven by FED that keeps on printing and allowing dollar swaps to be open abroad...
I don't see nothing wrong with the market yet until the politics come out in play and start disagree for the debt levels.

I don't think that anyone cares about the rise in EURUSD and the exports, the ECB doesn't manipulate its currency (at least yet).

I see the FED printing more money, but the US/China ties are not well and this helps the safe haven Dollar.

August isn't a good Month for the EU, but I never trust seasonalities only, I need to see strength in a move and nothing else supporting.
Looking for profitable short term trades ...|
  • #1,178,332
  • Aug 11, 2020 10:53am Aug 11, 2020 10:53am
Short EURUSD. All the Majors have reversed down and given back the NY session gains.
  • #1,178,333
  • Aug 11, 2020 10:55am Aug 11, 2020 10:55am
Quoting PatienceFx
{quote} {image}
Finally am awake and just finished with your love letter. Well, i think it favors the bull.
Only an idiot knows with certainty to where the market is going.
  • #1,178,334
  • Aug 11, 2020 11:01am Aug 11, 2020 11:01am
I tp’d on eu trade when it was a sitting duck at 1.1774... sadly miss out on a small drop but Im not mad. Ill be trading kiwi for the daying. My view is NZD keep dropping and then take off on the news. For now that is what I see. But I let the market decides.
Trade what you see, take what the market gives you.
  • #1,178,335
  • Aug 11, 2020 11:04am Aug 11, 2020 11:04am
In earlier Asia and London session, I closed shorts for losses (and also that for other pairs), as prices went up.
Now, the prices are back at my original shorts back then.

Did I do the right thing to close, back then? I must try to think that it is the right thing to do.
One does not have foresight to see THIS coming.
Prices might have gone further and further up!
  • #1,178,336
  • Aug 11, 2020 11:07am Aug 11, 2020 11:07am
Quoting VuLe
In I go. Short 1.1792... sl 1.1810... risk -18pip looking for 1.1700 or below. Hopefully there will be some action. {image}
Looks like a good move. EU has created a new high in 2 years. The short should yield great results.
  • #1,178,337
  • Aug 11, 2020 11:12am Aug 11, 2020 11:12am
Quoting OhComeOn
{quote} TP triggered at Weekly Pivot 1.1798, made 55 pips. May get back in this morning, but right now have other things planned for the day. Stay green everyone.
Did not re-enter this morning, but I have a questions for some traders. I see a lot of posts prior to ranging playing both directions, and in range as well. Also, I see a lot of SL being hit for negative or BE. Last night I entered my trade, was out early this morning with 55 pips, done trading for the rest of the day. I see a lot of over trading on this thread, and over trading often leads to losses. I know some are very seasoned traders, but for newer readers focus on making that 1 entry and exit in 24 hours if you are going to day trade, or 1 entry and exit for the week. Daily average is 30-70 pips on the day vs 100+ for the one per week. This will teach patience, learning to take highly probable trades, removes the noise of the market, and seriously reduces lost trades. OR you can trade in a direction targeting S&D zones for weeks and make 1000+ on 1 entry/exit.

My question is, and this is for newer traders, if you add up all of your wins and all of your losses for today how much more or less did you make than 55 pips (you do not have to post your answer). Yes I know I got in a little late yesterday or else it would have been higher, but 55 in 24 hours is a very decent number for EU. 30 pips every day can change your life. How consistent have you been for the last 7 trading days? How much time did you spend trading?

I only ask this in hopes some traders may improve or lead less stressful lives with more wins. This is not a pissing contest on the 55, only used it for reference.
"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #1,178,338
  • Aug 11, 2020 11:17am Aug 11, 2020 11:17am
Eur is in red zone now on daily,if we dont see big fall during next days ,only little down,or sideways, it means eur stays in uptrend.
  • #1,178,339
  • Aug 11, 2020 11:46am Aug 11, 2020 11:46am
Quoting OhComeOn
{quote} Did not re-enter this morning, but I have a questions for some traders. I see a lot of posts prior to ranging playing both directions, and in range as well. Also, I see a lot of SL being hit for negative or BE. Last night I entered my trade, was out early this morning with 55 pips, done trading for the rest of the day. I see a lot of over trading on this thread, and over trading often leads to losses. I know some are very seasoned traders, but for newer readers focus on making that 1 entry and exit in 24 hours if you are going to day trade,...
Thanks for advice
Nicely presented the fact
Obviously need to learn a lot more

Even though Today I made 70 pips
With 3 trades exit at BE (2 pips profit)
I think you have a valid point if you are long term player and not short term like me

I don't have patience to hold for 24 hours
So surely will try to learn more
PaRaM
  • #1,178,340
  • Aug 11, 2020 11:51am Aug 11, 2020 11:51am
Quoting OhComeOn
{quote} Did not re-enter this morning, but I have a questions for some traders. I see a lot of posts prior to ranging playing both directions, and in range as well. Also, I see a lot of SL being hit for negative or BE. Last night I entered my trade, was out early this morning with 55 pips, done trading for the rest of the day. I see a lot of over trading on this thread, and over trading often leads to losses. I know some are very seasoned traders, but for newer readers focus on making that 1 entry and exit in 24 hours if you are going to day trade,...
Thanks for the Question, which I see it as a reminder, for me to beware of over trading, and manage my expectations that is limited by position size and account size.
I have ponder this for the longest (really longest) time, and have been adjusting my methods.
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