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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

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Quoting aediaz1
Where do you get .5713 from ? Am I missing something ? As we speak, price is lurking above .5730. which is my currently support.

Well, I don't use any specific indicators for measuring if a chart is bull or bear, but looking at a plain 4h chart it doesn't look too bearish, IMO.

A close below 4h TL would prepare me for a break to the downside on daily ascending triangle, which could provide more downside.

I am looking at the same as you. I have been taking this week off to see if the eur$ does anything. But what its doing now isn't very predictable in mid term like I trade. It has a very bullish look to it, as if its gearing up for a break out to the top side and a 500 pip run. But I kind of doubt that. So I really have no idea what the eur$ has in store. The break of the top and fast withdrawl is not bullish as it couldn't sustain.
Quoting emadanton
hey Aad

that was really a scary article regarding the Euro
but i guess this is way ahead in the future . . .

what's ur opinion?

Dr. Emad
Its worrisome if you're really invested in the EURO if indeed it plays out like it says. But I'm sure that most of us will simply move on to other currencies to trade...
IBfx Sporadic Traded Account... All Time Return: 33.9%
  •  Hammad
  • | Joined Aug 2007 | Status: Plan your Trade & Trade your Plan | 116 Posts
Quoting aediaz1
Where do you get .5713 from ? Am I missing something ? As we speak, price is lurking above .5730. which is my currently support.

Well, I don't use any specific indicators for measuring if a chart is bull or bear, but looking at a plain 4h chart it doesn't look too bearish, IMO.

A close below 4h TL would prepare me for a break to the downside on daily ascending triangle, which could provide more downside.
ur support is nice.. you can now increase the range of support zone .5730-11
5711 is weekly pivot.
don't forget Pivots...
Now EU is going up to touch Daily pivot.. and possible in london session it will sell off ..Daily pivot breakout can attrack more people to do long..
lets see
Quote
Eu has tested 3 times to 1.59 level... Now 1.5713-11 is good support, next support around 1.5652 and the Monthly pivot around 1.56 is next stop if 1.5613-11 broken..
Expecting it wil go short.. because 4h indicators downward..
Try UJ,EJ, and GU had more pips now.
GU shorts 100% winners,below 1.9715 wil bring 1.965
UJ and EJ longs.. Thats plan for upcoming hours..
I have eaten so many pips in uj,ej,gj by doing long.. Now i am at rest and waiting for confirmation to do short GU.. lets see if GU gives any signal.. not touching EU right now waiting for confirmation..
Euro rallying again. A good time to jump in and take a ride along? I am a newbie so don't know much.
Expected the unexpected
hey everyone i ve always followed this post ! its very informative, have learnt a lot just from the posts here...
not sure if i should go long on the euro now or wait until after G7. any suggestions !!
Quoting scyang
Euro rallying again. A good time to jump in and take a ride along? I am a newbie so don't know much.
This may be a case of the blind leading the blind. And if my statement is grossly inaccurate, I hope someone with more experience will put in their 2 pips. (that's my way of politely pointing out that I may be way off the mark )

Anyways, tomorrow is Friday and has a G8 meeting so I believe things will be *very* volatile. Trading on Sunday might be challenging, but I'd rather deal with the devil I know.
Not all sins are created equal
yea, trade the breakout folks, better risk-to-reward ratio. Trade to win... otherwise, why not just go to a casino?

A bullish chart pattern used in technical analysis that is easily recognizable by the distinct shape created by two trendlines. In an ascending triangle, one trendline is drawn horizontally at a level that has historically prevented the price from heading higher, while the second trendline connects a series of increasing troughs. Traders enter into long positions when the price of the asset breaks above the top resistance.

An ascending triangle is generally considered to be a continuation pattern, meaning that it is usually found amid a period of consolidation within an uptrend. Once the breakout occurs, buyers will aggressively send the price of the asset higher, usually on high volume. The most common price target is generally set to be equal to the entry price plus the vertical height of the triangle.

http://i.investopedia.com/inv/dictio...gTriangle1.gif
Trade the reaction, not the news!
Quoting arti
hey everyone i ve always followed this post ! its very informative, have learnt a lot just from the posts here...
not sure if i should go long on the euro now or wait until after G7. any suggestions !!
IMO, as a swing trader, it is always best to wait for important news. What is said at G7 will likey cause big move. I like to wait and see which direction it goes and then jump in for some nice pips. There is no reason to risk losing pips by being in a wrong position when news break. ( It just so happens I got caught earlier today, maybe I should practice what I preach,)
Recognize that every trade taken comes with a amount of risk. Each trade should be made based on this calculated risk that comes with the trade.

Is it possible the price might against your trade? If yes, by how much? Can you lose that amount? If you haven't calculated it, and that adrenaline comes and says 'ah screw it, just click, no risk no gain, woohoo lets go'. Then, for some magical reason 10mins later, the market moves against you. This is an impulse trade.

You don't want to get to a point where you get overwhelmed by considerations and can't make a decision, but even with that said - better no trade than a losing trade. You keep your money. If you can't spot a trade, delete all the lines from your charts, redraw, delete, redraw. Zoom out to the larger time frames, and go back down again. If there isn't a clear trade, then something is not right, don't trade it.

You want that calm confidence when you click that button. You are going to win. High probability, good risk-reward ratio. A trade you think is worth putting your money on.
Trade the reaction, not the news!
Quoting twofeet
Recognize that every trade taken comes with a amount of risk. Each trade should be made based on this calculated risk that comes with the trade.

Is it possible the price might against your trade? If yes, by how much? Can you lose that amount? If you haven't calculated it, and that adrenaline comes and says 'ah screw it, just click, no risk no gain, woohoo lets go'. Then, for some magical reason 10mins later, the market moves against you. This is an impulse trade.

You don't want to get to a point where you get overwhelmed by considerations and can't make a decision, but even with that said - better no trade than a losing trade. You keep your money. If you can't spot a trade, delete all the lines from your charts, redraw, delete, redraw. Zoom out to the larger time frames, and go back down again. If there isn't a clear trade, then something is not right, don't trade it.

You want that calm confidence when you click that button. You are going to win. High probability, good risk-reward ratio. A trade you think is worth putting your money on.
Amen to that
Not all sins are created equal
Well said twofeet
Quoting twofeet

http://i.investopedia.com/inv/dictio...gTriangle1.gif
I told every one here that move was going to happen and suggested entry long befor it even broke.
Edit: that might not be the one I was thinking.

But this time I havn't said a word, and this break out crapped out. You can not trade break outs mechanically, or you will lose the in long term. You have to use personal discretion, (you have to have the "nack" for it)

I have coded every mechanical system and or back tested every one and they all fail. One might win for 2 years solid, but then bust the account the 3rd. Market conditions change, and so must a trader that expects to last in the long term.

http://img120.imageshack.us/img120/7...lytrendxb1.gif
Quoting xxDavidxSxx
I told every one here that move was going to happen and suggested entry long befor it even broke.
Edit: that might not be the one I was thinking.

But this time I havn't said a word, and this break out crapped out. You can not trade break outs mechanically, or you will lose the in long term. You have to use personal discretion, (you have to have the "nack" for it)

I have coded every mechanical system and or back tested every one and they all fail. One might win for 2 years solid, but then bust the account the 3rd. Market conditions change, and so must a trader that expects to last in the long term.

http://img120.imageshack.us/img120/7...lytrendxb1.gif
I would not consider that a break... And it also depends on where your stop is .

The "break" also happened right before the ECB rate decision. Another reason not to trade it.
so short because breakout failed??

What you guys think? This might reverse here medium term. G7 meeting coming up could boost downside.

Looks like oil will back up to which support the dollar.

Dollar is a time bomb waiting to explode upside (eur/usd would go down). Somebody is buying alot of dollars according to volumes data.
If that is true i assume big market players know whats going on. G7 could be the trigger. Just what i think.

Wait and watch price see what happens. If it breaks then that should be good confirmation.
Quoting xxDavidxSxx
I am looking at the same as you. I have been taking this week off to see if the eur$ does anything. But what its doing now isn't very predictable in mid term like I trade. It has a very bullish look to it, as if its gearing up for a break out to the top side and a 500 pip run. But I kind of doubt that. So I really have no idea what the eur$ has in store. The break of the top and fast withdrawl is not bullish as it couldn't sustain.
Amen. I see a lot of people spending tons of hours to figure out where price is going. For me I just list 2 scenarios. What if price does this or that. Price have to go south or north really simple, IMO. This was an easy breakout-trade to the upside, viewable on the chart.

As we speak, price was 4 pips away from upward breakout-target .What's next ? I have no idea. And I don't care until I have a new pattern
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Measure twice, cut once
Just curious, Did anyone catch that upside breakout?
had pending buy 5 pips above pivot (1.5796) closed 1.5830 waiting for break of 1.5840 for longs or 1.5791 for sells
Quoting HarshFX
Just curious, Did anyone catch that upside breakout?
Yup long since 1.5774....copped 54pips...now looking for a re-entry.
shorted 5838 stop 5860 target 5000
With lack of discipline, i shorted the euro at 1.5776 for very many lots beleiving the upside has failed again, triple top, with stop at 1.5853, downside target 1.5626

Having just seen it pop up to 1,5850 and missing my stop by one pip, i am very lucky to avoid having a lot of account wiped out but i have no clue about the way its gonna go now.............i wonder if i should exit position........any views?
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