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EURUSD

  • #1,193,321
  • Apr 27, 2021 4:05pm Apr 27, 2021 4:05pm
Quoting OnlineAddict
{quote} BTC/USD is not a regular pair...there is also BTC/EUR and BTC/every other currency...its just to measure bitcoin's value in fiat money, but otherwise EUR, USD and the rest have no impact on bitcoin value whatsoever.
You are missing the point. So if you are trading BTC/EUR, then you would be wise to trade strength against weakness, rather than just throw a trade into play and hope for the best. If EUR is showing signs of weakness and you are trading BTC/EUR, then you might want to look for buying opportunities, and vice versa.

I think the problem here with you and TA is a lack of understanding on what I mean when I speak of negative correlation. You would have to have experience trading BTC against USD to get my point.
Learn from your mistakes and march on.
  • #1,193,322
  • Apr 27, 2021 4:06pm Apr 27, 2021 4:06pm
Quoting Techanalyst
{quote} Still trolling.
I know you are. You don't have to keep reminding me.
Learn from your mistakes and march on.
  • #1,193,323
  • Apr 27, 2021 4:07pm Apr 27, 2021 4:07pm
Quoting Techanalyst
{quote} Thank you for your own analysis. My analysis are also that EURUSD will go further up. Next target possibly 1.22.
To be clear I am not sure if it will continue higher from these prices. I wouldn't buy at these prices, but for the week I think it will be green.
  • #1,193,324
  • Apr 27, 2021 4:07pm Apr 27, 2021 4:07pm
Quoting here2there
{quote} You are missing the point. So if you are trading BTC/EUR, then you would be wise to trade strength against weakness, rather than just throw a trade into play and hope for the best. If EUR is showing signs of weakness and you are trading BTC/EUR, then you might want to look for buying opportunities, and vice versa. I think the problem here with you and TA is a lack of understanding on what I mean when I speak of negative correlation. You would have to have experience trading BTC against USD to get my point.
Wrong. "viptrading" shared the website.

https://cryptowat.ch/correlations
  • #1,193,325
  • Apr 27, 2021 4:07pm Apr 27, 2021 4:07pm
Quoting here2there
{quote} I know you are. You don't have to keep reminding me.
Still trolling.
  • #1,193,326
  • Apr 27, 2021 4:09pm Apr 27, 2021 4:09pm
Quoting here2there
{quote} You are missing the point. So if you are trading BTC/EUR, then you would be wise to trade strength against weakness, rather than just throw a trade into play and hope for the best. If EUR is showing signs of weakness and you are trading BTC/EUR, then you might want to look for buying opportunities, and vice versa. I think the problem here with you and TA is a lack of understanding on what I mean when I speak of negative correlation. You would have to have experience trading BTC against USD to get my point.
BTC/USD, BTC/EUR are NOT real pairs, BTC/EUR couldn't care less about the EURO value, it is calculated from BTC/USD. Most people who trade/own crypto, don't use forex brokers...they use crypto brokers or simply WALLETS(there is no trading on a wallet) and the biggest continent to trade/buy crypto is Asia. US has just a little share on the market, up to 20%.
Everyone can see the chart, but only a few can actually read it.
  • #1,193,327
  • Apr 27, 2021 4:11pm Apr 27, 2021 4:11pm
Quoting Techanalyst
{quote} Wrong. "viptrading" shared the website. https://cryptowat.ch/correlations
You clearly don't understand how the crypto market works. The first thing you need to get educated on is Bitcoin dominance.
Learn from your mistakes and march on.
  • #1,193,328
  • Apr 27, 2021 4:12pm Apr 27, 2021 4:12pm
Hourly chart
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  • #1,193,329
  • Apr 27, 2021 4:13pm Apr 27, 2021 4:13pm
Daily Chart (To be clear I wouldn't trade this breakout personally since I don't trade long term or breakouts. I would have much rather entered at one of the arrows in the previous post, I didn't take any trades on EU this week though since I took other trades instead, I did get in EJ though.
Attached Image (click to enlarge)
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  • #1,193,330
  • Apr 27, 2021 4:16pm Apr 27, 2021 4:16pm
Quoting here2there
{quote} You clearly don't understand how the crypto market works. The first thing you need to get educated on is Bitcoin dominance.
It is an equity asset just like any other. You clearly have no idea how to trade any equity asset. Go back to trading 101. Stop trolling, no one takes you seriously as you are talking nonsense.
  • #1,193,331
  • Apr 27, 2021 4:18pm Apr 27, 2021 4:18pm
Quoting OnlineAddict
{quote} BTC/USD, BTC/EUR are NOT real pairs, BTC/EUR couldn't care less about the EURO value, it is calculated from BTC/USD. Most people who trade/own crypto, don't use forex brokers...they use crypto brokers or simply WALLETS(there is no trading on a wallet) and the biggest continent to trade/buy crypto is Asia. US has just a little share on the market, up to 20%.
To be fair everything technically is correlated to some degree. If people are taking money out of USD and putting it into BTC that would effect both instruments given enough volume.

I will post this again since some of you did not see my last post, there is a site that actually tracks the correlation here (USD being represented as USDT) - https://cryptowat.ch/correlations

So there really is nothing more to debate, the proof is in the data.

I personally view cryptos in general as a sort of currency/stock hybrid in the way that they move and how people choose to invest in them. It is fascinating stuff what we are moving into. I also believe that Forex will be obsolete within the next 10-20 years and replaced with a crypto based currency market entirely.
Not that anyone asked for my opinion lol.
  • #1,193,332
  • Apr 27, 2021 4:18pm Apr 27, 2021 4:18pm
Quoting viptrading
Daily Chart (To be clear I wouldn't trade this breakout personally since I don't trade long term or breakouts. I would have much rather entered at one of the arrows in the previous post, I didn't take any trades on EU this week though since I took other trades instead, I did get in EJ though. {image}
I don't see any breakout.

Attached Image (click to enlarge)
Click to Enlarge Name: EU.png Size: 33 KB
Everyone can see the chart, but only a few can actually read it.
  • #1,193,333
  • Apr 27, 2021 4:18pm Apr 27, 2021 4:18pm
Quoting viptrading
Daily Chart (To be clear I wouldn't trade this breakout personally since I don't trade long term or breakouts. I would have much rather entered at one of the arrows in the previous post, I didn't take any trades on EU this week though since I took other trades instead, I did get in EJ though. {image}
Because of this supply zone red rectangle I think it should get there around 1.22. But will see.
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  • #1,193,334
  • Apr 27, 2021 4:20pm Apr 27, 2021 4:20pm
Quoting viptrading
{quote} To be fair everything technically is correlated to some degree. If people are taking money out of USD and putting it into BTC that would effect both instruments given enough volume. I will post this again since some of you did not see my last post, there is a site that actually tracks the correlation here (USD being represented as USDT) - https://cryptowat.ch/correlations So there really is nothing more to debate, the proof is in the data. I personally view cryptos in general as a sort of currency/stock hybrid in the way that...
I totally agree. The way things are going, maybe even before 10 years.
  • #1,193,335
  • Apr 27, 2021 4:20pm Apr 27, 2021 4:20pm
Quoting viptrading
{quote} To be fair everything technically is correlated to some degree.
Of course, but I thought we are talking about a real correlation...60-80%, not below 1%.
Everyone can see the chart, but only a few can actually read it.
  • #1,193,336
  • Apr 27, 2021 4:22pm Apr 27, 2021 4:22pm
Quoting Techanalyst
{quote} It is an equity asset just like any other. You clearly have no idea how to trade any equity asset. Go back to trading 101. Stop trolling, no one takes you seriously as you are talking nonsense.
Should I care if you take me seriously? Who are you that I should care about your opinion of me? What have you done to show me that I should respect you? You are a bully. That's what you have been from the time I started commenting in this thread (likely even before then). You like to make fun of and embarrass people who don't agree with you. You are obsessed with being right. You are unteachable. Respect is earned. You don't deserve my respect. Change your attitude and maybe you will give me a reason to respect you.
Learn from your mistakes and march on.
  • #1,193,337
  • Apr 27, 2021 4:27pm Apr 27, 2021 4:27pm
Quoting viptrading
{quote} ...I also believe that Forex will be obsolete within the next 10-20 years and replaced with a crypto based currency market entirely. Not that anyone asked for my opinion lol.
I agree. It might even happen in less than 10 years. Hopefully, regulations won't screw things up for US retail traders.
Learn from your mistakes and march on.
  • #1,193,338
  • Apr 27, 2021 4:29pm Apr 27, 2021 4:29pm
To be honest there is one simple and basic reason why BTC and USD cannot be correlated to any degree that is worth trying to exploit and profit from. And that reason is that BTC is too small of a market to have an effect on the USD. Now if we are talking about the ENTIRE crypto market, that is another story eventually it probably will effect the value of regular "dollars" unless USD simply becomes a crypto, which it basically already has.

For now, USD simply dwarfs BTC in terms of trading volume, and overall utility. Therefore BTC cannot effect the price of USD, but USD can effect the price of BTC, however, I am not exactly sure to what degree as that is beyond my level of understanding at this point in time.


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  • #1,193,339
  • Apr 27, 2021 4:32pm Apr 27, 2021 4:32pm
Quoting here2there
{quote} Should I care if you take me seriously? Who are you that I should care about your opinion of me? What have you done to show me that I should respect you? You are a bully. That's what you have been from the time I started commenting in this thread (likely even before then). You like to make fun of and embarrass people who don't agree with you. You are obsessed with being right. You are unteachable. Respect is earned. You don't deserve my respect. Change your attitude and maybe you will give me a reason to respect you.
Leave this thread. You are a troll, no one respects you here. You have done nothing but trolling. Leave this thread or start posting charts and analysis.
  • #1,193,340
  • Apr 27, 2021 4:35pm Apr 27, 2021 4:35pm
Quoting viptrading
...Therefore BTC cannot effect the price of USD, but USD can effect the price of BTC, however, I am not exactly sure to what degree as that is beyond my level of understanding at this point in time. 3925095 {image}
That's my point! USD is stronger than BTC. When USD increases to a certain degree in strength, BTC is negatively impacted to a certain degree. And when BTC shows weakness, it negatively impacts almost the entire altcoin market. Knowing this helps in trading the crypto market more successfully.
Learn from your mistakes and march on.
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