EURUSD

https://m.youtube.com/watch?v=mfJhMfOPWdE

I seen a dude making ufo's from pure mathematics at the fbi building.

Hi Polimini! I'm also a bit of a noob, I started my live account in October '21 but I hope this can help you. I tend to focus solely on EURUSD because fundamentally speaking, the world's economy is intrinsically linked to/influenced by the economic health of the U.S. and Eurozone. So not only is there is lots of data to analyze to help a trader make decisions, there's also constant speculation on the price of this pair in all sorts of media (mainstream news, trading publications, investment bank analyses/forecasts, etc). It's why EURUSD is still talked about in other FF threads that are supposedly focused on other major or minor pairs.

I think if a trader can become proficient at trading EURUSD, it's a only small step towards understanding other corollary pairs like GBPUSD, EURGBP, USDCHF, or USDJPY. BUT every pair has it's own "character", meaning price action will move very differently from one pair to the other. It can take time to find the "rhythm" of a pair and how it reacts to major data releases like the recent CPI drop or the upcoming FOMC meeting.

This is why TA is tricky at times, especially if you're just looking for signals that fit your system on whatever pair presents a trade-able pattern. Understanding the fundamentals/economics of the currencies you trade is extremely important, so the more pairs you trade, the more countries you need to keep an eye on.

EDIT: Don't give up. I'm also a beginner but trading forex is such a learnable skill. I still have to learn a lot about risk management/appetite and macroeconomics, but I'm proud of my progress and consistency so far. Here's my growth chart to inspire you

Did it fill a gap with a new un even price gap?

Britannia Waves The Rules

Yep, switched to long

What times of the day are the best trading sessions happening?

High market liquidity occurs during peak Television Ratings hours when there's more people participating in the markets.

Is the best time to trade is between the overlap between the Tokyo and London Sessions?

Liquidity is lower during this session for a few reasons. There isn’t as much movement during the Asian session and once the afternoon comes everything goes quiet.

European traders are just starting to come back to their offices, trading is often quite boring as the liquidity has dried up.
Use the time to study your method, look for trades to take in the upcoming London and New York sessions.

London – New York Session Overlap

Analytics service for FX market indicates liquidity is at optimum levels around 10 am and 3 pm London time (10 am NY time).

This is when the traders buckle down and get serious.

During this most busy time of day, traders from the two biggest financial centres in (London and New York) begin competing.

During this time we can see some big moves when news reports from the U.S. and Canada are released.

Late news coming out of Europe can also effect the market.

Any trends established during European session, could see the trend continue, if U.S. traders decide to jump in and create their positions after reading up what happened earlier on in the day.
It’s important to know during this period where the WM/Refinitiv Spot Benchmark Rate is determined.
This rate is set at 4 pm GNT London time, it's also known as the “London fix“.
A currencies “fixing” occurs at a set time each day when prices of currencies for commercial transactions are set up, or fixed.
Currency prices fluctuate from second to second, so a daily “reference point” is required and set up.
The Banks and other financial institutions check and use this daily rate to set up their currency exchange rates, this sets up the prices used for corporate foreign exchange transactions.
This daily fix might see a period of frantic trading in the market prior (15 to 30 minutes) to the price fixing time this abruptly disappears exactly at the time of fixing.
Some European traders might be closing positions as their trading day ends, this could lead to choppy price moves right before lunchtime for the U.S session.

Oversold lol,holding to 0.95 and lower.

Stay green and rich.

095 need input

as planned. i'm out. Niceeee day

I'm a forex genius as Jeremy Clarkson would put it

damn impressive chart. I started in March, i think. Anyway not doing as good, essentially because i have the tendency to lose focus, and try all sorts of stuff, but it also helps me get better by learning a lot with the mistakes. I must have tried 1000 "get rich quick schemes" but essentially all the money i made was from this pair, with some simple rules and tools, and getting to know it.
Just wondering if it was worth to try to manage more but i see it's not for the best.

EUR/USD just can't seem to catch a break as yesterday's strong rejection keeps it within its multi-month bearish channel.
All trading carries risk, but with the hot US CPI print raising bets for a potential 100bps hike from the Fed next week, will the pair finally break support at 0.9900 and continue lower?

Price Map Sept 5th 11:40am
4 Hours 3:30 Resistance @ 1.0000 09/05/2022 03:34:12 PM Sold off 9985
68 hours from now test support 0.9960 09/08/2022 07:34:42 AM Rode 9960 7th/8th

We just broke and tested support & R folks. Keep your shirts on.

Lets buy this shit.

HEAD AND S WHY u never called it ^

Neckline confirmation for bulls what u say now? I never get h&s these right.

Forex Currency Market Structure

In the stock market the structure looks like this:

Buyer >---< Centralized Market > ---- < Seller

Typically in stocks one entity controls prices. All trades have to go through a specialist and because of this prices can easily be changed to benefit the specialist and not the traders.

So how does this happen? On the stock market the specialist has to fill the order fof it's clients. Lets say for example the number of sellers suddenly outnumbers the buyers.
The specialist who is responsible for filling orders for his clients is left with a lot of stock that he cannot sell on to the buyers side.

So to prevent this from occurring, the specialist simply widens the spreads or increases the transaction costs to prevent the sellers from entering the market.

The specialists can manipulate the price quotes being offered to accommodate their requirements.

Trading in the Spot FX is Decentralized
Different from trading stocks or futures markets, you don’t have to go through any centralized exchange like the New York Stock Exchange tied to just one price.

The forex market, has no single price for any given currency at any particular time, which means the quotes from different currency dealers can vary.

This can all be overwhelming at first, but it's what makes the forex market great!
This forex market is so huge, the competition between dealers is fierce and you get the best deal almost every single time.
Everybody wants that?

A good thing about forex trading is you can do it anywhere. It’s just like trading shoes on ebay.
It is up to you to find the best deal out there.

The Forex Ladder

The forex market is decentralized, but it isn’t pure chaos!
Participants in the Forex market can be organized to better understand what we mean, here is an example:

Major Banks

*

Electronic Brokering Service / Reuters Dealing 3000-Spot Matching

*

Medium and small sized Banks

*

CompaniesRetail Market Makers * Retail ECNs * Hedge Funds and Commercial

*

Retail Traders

At top of the forex market ladder is the interbank market.
Made from the largest banks in the world, these market participants trade directly with each other (“bilaterally”) or through voice or electronic brokers (like EBS Market or Reuters Matching).

The competition between EBS and Reuters (rebranded as Refinitiv), is similar to Coca Cola and Pepsi.

They're in constant battle with each other for clients and continually try to get one over on each other for a bigger cut of the market share. Both companies offer most currency pairs, but some currency pairs are more liquid in one bank than the other.
The EBS platforms, EUR/USD, USD/JPY, EUR/JPY, EUR/CHF, and USD/CHF are more liquid pairs.

For the Reuters platform, GBP/USD, EUR/GBP, USD/CAD, AUD/USD, and NZD/USD are the more liquid pairs.

All banks that are part of this interbank market could see the rates that each other are offering, but it doesn’t necessarily mean anyone of them can make deals at those prices.

Just like in real life, the rates will largely be dependent on the established CREDIT relationship between the parties trading.

Like asking for a loan in your local bank. If you have a better credit standing and a good reputation with them, then the better the interest rates and a larger loan you'll get.

Next come the hedge funds, the corporations, the retail market makers, and the retail ECNs.

These institutions don't have tight credit relationships with participants of the interbank market, they have to do transactions via the commercial banks.

Their rates are a bit higher and more costly than the ones who are part of the interbank market.
The bottom of the barrel we find non-professional traders who are known as retail traders.

It used to be super hard for the little guys to engage in the forex market, now thanks to the invention of the internet, and electronic trading, with retail brokers, the hard barriers to entering the forex trading market are gone.

This gave us a chance to play with those higher up the ladder and poke them with a long and cheap stick.
Now that you've looked at the forex market structure, let’s see who are the forex market players!

bearish sentiment still to test/breakdown support 0.99519 and the trendline .... forget buying before see more shakeout

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we didn't see more bears trap for signal for buying

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if demand strong , price must test/breakout support and trendline to prove (we only can read the market but not to move the price) , except tier 2 and tier 1

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https://www.fxtaa.com/en/what-is-the-forex-market/

from time 0 - 4 MT4 (1 candle tf h4 + 1 hours), banks make intraday volatility .........

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in intra day range volatility .... use pivot point daily, weekly, monthly, even yearsly to detect buy or sell area
pivot point from hourly - yearsly

Attached File(s)

Pivot Confluence_mod hesron.ex4   93 KB | 291 downloads

Thank you @cityindex, I didn't quite understand why EU was rising with a poor CPI print but I understand from this explanation and it makes sense. appreciate your comments!

I still believe USD will eventually make it to 120.

So do not disturb banks make intraday range volatility from hours 0 to 4 mt4, or you will be mocked
... that's why .... better time to see open position in LO (high market activities = volume), at least To close / Berlin Open

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Good to see you are still active how is your trading my friend ?

Hiya guys. Any Tradingview users seeing this glitch also on DXY? First time seeing a visual bug like this, just want to know if there's anyone else seeing it. I hope it gets resolved soon!