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MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

EURUSD

Quoting here2there
{image}
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Quoting tiborf71
I am, short, 1,20933. I'm just going with the trend. h4.
closed. 1,20365
Quoting Techanalyst
{quote} That looks good with indicator after the fact. So the indicator below which is what RSI? It shows when the move happens already, it is lagging. So it is not reliable and won't do any good. However looking at the chart and candlesticks, entering on the lower time frame would be a good set up, on that chart.
RSI it's not a lagging indicator, it is a leading indicator. The formula for the RSI indicator takes two equations that are involved in solving the formula. Relative Strength value, which is the ratio of the average 'Up'' closes to the average of 'Down' closes over 'N' periods.

If you put Rsi period 2 on your daily chart and trade the opposite of extreme levels 10 and 90, you can catch the reversals before they happen......so it's definitely not a lagging indicator.
The biggest risk is not taking a risk.
Quoting leppozdrav
{quote} RSI it's not a lagging indicator, it is a leading indicator. The formula for the RSI indicator takes two equations that are involved in solving the formula. Relative Strength value, which is the ratio of the average 'Up'' closes to the average of 'Down' closes over 'N' periods. If you put Rsi period 2 on your daily chart and trade the opposite of extreme levels 10 and 90, you can catch the reversals before they happen......so it's definitely not a lagging indicator.
You are right, I totally forgot about that. I did see the strategy you are talking about RSI and using daily chart, just not too long ago. But because I don't use indicators, I totally forgot about that. You're right, it is leading indicator and can be a good tool for entries buy or sell. Trade safe.
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2069 short .. 20pip sl
2069-75 unloading and shorting range it seems
Quoting Techanalyst
{quote} .
RSI can be used in more than one way. What you see on the image I posted is called Divergence. It is indicative of loss of momentum. It could mean a reversal or a short term retracement. It is more reliable on higher time frames, and it is a leading indicator, not lagging.

Having said that, based on the information I was able to see on the chart, I entered a long trade on EURUSD at 1.20355.

Note: I read your comment before you removed it.
Not Financial Advice! Educational Purposes Only!
Quoting here2there
{quote} RSI can be used in more than one way. What you see on the image I posted is called Divergence. It is indicative of loss of momentum. It could mean a reversal or a short term retracement. It is more reliable on higher time frames, and it is a leading indicator, not lagging. Having said that, based on the information I was able to see on the chart, I entered a long trade on EURUSD at 1.20355. Note: I read your comment before you removed it.
I got it. I removed it, you're right RSI is a leading indicator. Trade safe.
Quoting leppozdrav
{quote}... If you put Rsi period 2 on your daily chart and trade the opposite of extreme levels 10 and 90, you can catch the reversals before they happen......so it's definitely not a lagging indicator.
That is an excellent strategy when used in combination with other signals! If you want to know what other signals I am referring to, then feel free to send me a private message and I will explain.
Not Financial Advice! Educational Purposes Only!
For me RSI is used for measurement in relation with price and can show how strong a trend is according its rate of change.


I am short here, because I feel generous (made my weekly target) and nothing else, please don't follow my trade!
Feels right this time!
Went short at 1.20700.

Will see if it falls and if it falls, how much...
Quoting NrSLionHeart
Went short at 1.20700. Will see if it falls and if it falls, how much...
Did you not see this post? Why are you trading against strong momentum?
Not Financial Advice! Educational Purposes Only!
Quoting Js3mwtRc
...I am short here, because I feel generous (made my weekly target) and nothing else, please don't follow my trade!
The people who are on the other side of your trade are not feeling as generous. It's never a good idea to trade against strong momentum.
Not Financial Advice! Educational Purposes Only!
Don't get too excited about EURUSD's move up just yet. USD is full of surprises! I believe we need to see a strong close above the 1.21092 and 1.21280 zone with a retest for support. Otherwise, this move up could just be temporary. Time will tell.

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Not Financial Advice! Educational Purposes Only!
Another thing to put into consideration is USD could be on its way to filling the following gap.

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Not Financial Advice! Educational Purposes Only!
Quoting here2there
{quote} The people who are on the other side of your trade are not feeling as generous. It's never a good idea to trade against strong momentum.
Sometimes it can be rewarding too.
Feels right this time!
Quoting swing 123
2069 short .. 20pip sl

bull move is quite stong however even if get knocked out shall see close below 2069 today.
This is the sad story of my last 24 hours trading... Exited my shorts prematurely.....

Then went long prematurely....>>>Resulted in 60 pips underwater for many positions....

made patience.......and had no SL [ I was a scuba diver pioneer when younger, and it reflects in my trading style...]

Finally I identified the low of 1.19 91 correctly and went more longs there. Now breathing with snorkel on the surface...

I will NOT exit my longs PREMATURELY.... This thingy has more to go till end of Wednesday....

Don't repeat the mistakes I make.....I present them here for AVOIDANCE.....

An overextended move is followed by an overextended correction ......

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Quoting here2there
{quote} Did you not see this post? Why are you trading against strong momentum?

Market went up 0.9% (that is 90 pips) with 0 (zero) correction. At some point it should be a retracement. So far it did not reach 1.20870 so there is still a chance that it will fall to 1.20500 the next 3 h
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