EURUSD

I like the 2-leg pull back here and so entering long in

the close on high 5m bar was nice, I'm in just over it, I wanted a pullback to add, but it didn't happen so I had to chase it up and so added over it, but now I only have 2 of 3 partial lots in. Some pullback here to 1758 would be nice to add to my 3rd lot, but I won't chase it for the 3rd. My average long entry here is around 1762

I just went short again @ 1.1760 with SL 7 pips above 1.180.. I plan to target 1.175-1.170 and possibly below [maybe] around 1.165-1.170, last one for the week if I get stopped out on this setup. I had bullish bias on the pair but yesterday's close made me shift.. let's see.

going back to risk off...may see see bid for usd

Here's how I am looking at it.

I have that down trend line on my chart too. After the close at high, I went long 2x & then added on each of the dips, but there were 3 and so I was getting impatient with it and added for a total of 5 entries, so as it resumed small up move, I killed it all around my initial entry for a tiny scalp.

One of the reasons I killed was that the majors that correlate were mostly acting well for the long, but EU wasn't really responding like it should with those corr so I'm flat.

I was also looking at swiss as it attempted a double bottom on 5m chart with a green bull bar which was over run, so it continued to fall and those bulls were stopped out adding to the fall, but even with that good corr for long here, didn't push it up enough, also US Mkt up, could have pressure here too, so I'm fine with being flat here.

I want in again here badly, but I can't get myself to do it. Us market retreated from highs, but this large red bar on 5m is freaking me out, even tho it only pulled back to a higher low....

I guess after 2 1/2 hours of work for $4, I feel kind of done, ok, here's another remain out reason for me personally, it's 11am, I don't enter new positions this late in the London session.

50% support at 1720 time for another attack on 1.1950...
Sold down from 1800 closed and back in long from 1740 target for next dip around 1950..

is that a short term trade?

Unless a settlement on a US stimulous package which I doubt, nothing else to move USD, except AUD Employment Change.

EU should follow down AUD if, the numbers come out bad.

i'd like to see this houry candle close below 1.17540

[quote=mistaouting;13213087] But I would think their horizon is different from most traders


- Sorry I didn't understand, can you be more specific please ,,,

[quote=JBRolim;13213883]{quote} they could be looking further in the future than most traders here...comes with risk most traders here wouldn't and shouldn't take.

For example...the recent moves down in the euro is enough to make most traders who are holding longs on the euro worry if they haven't closed or stopped out...where as someone with a larger account or big money...may not worry about a 100 pip or 300 pip move against them....

can't really explain it...guess as I am about to post the rely it comes to me....i guess i am saying...retail traders here can't and shouldn't trade like goldman sachs (i think that was who you referenced) because they don't have same account power or risk apatite....but as I said...its nice to know their sentiment.

EDIT: i think you said something about its "advisable to buy euro against USD" Well i am bullish euro also but I am not willing, sized, or can afford the pullbacks or drawdowns that goldman can...i try to profit of the moves they may overlook because its not worth it...

EDIT: I share those thoughts towards using COT reports...nice to know sentiment but cant just go long because institutions longs...because my risk is smaller than theirs...but nice to know their sentiment

Targets remain the same

For those who had not entered yet, 30 min charts show another good chance for SELL (with tight SL)

Not nessesarily haha.

EU is ranging, above 1700 is support and below 1780-1800 is resistance. Yet the trend favors some downside, but it may try to take out 1780 first and then retrace down again, if it likes to see a weekly close down

Tomorrow is Friday with US retail sales on the calendar, but I watch for EU summit and it can be two ways volatile for this pair.

Today Jobless claims should give us more hints for the US economy.

Have a great trading ahead.

i disagree, eu is very bearish

market was expecting a stimulus package ; it did not come, so down we go