EURUSD | Page 1582 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD, USD/CHF

Similar Threads

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

Attachments: EURUSD
Exit Attachments

EURUSD

  • #31,621
  • Sep 18, 2008 5:28am Sep 18, 2008 5:28am
Hi guys if you're wondering why there was heavy resistance at the 4540 level, check out the chart I've attached. It is a weekly chart. You can see the red line of resistance I've drawn.
Attached Image (click to enlarge)
Click to Enlarge Name: weeklyResistanceLevel.JPG Size: 192 KB
  • #31,622
  • Sep 18, 2008 5:29am Sep 18, 2008 5:29am
Argh ECB pumping euros to the market too!

http://www.forexfactory.com/news.php?do=news&id=107371

Turbulence ahead.
  • #31,623
  • Sep 18, 2008 5:41am Sep 18, 2008 5:41am
Daily chart show UTL broken from the downtrend 1,6037/1,3884. Interesting to see where this candle closes today.

That last upmove hit the 61.8 fib retrace of the last leg down (1,4907/1,3884) of the downtrend I mention above.
  • #31,624
  • Sep 18, 2008 5:42am Sep 18, 2008 5:42am
... or also from other pairs .... interesting to know ... thanks ...

  • #31,625
  • Sep 18, 2008 5:49am Sep 18, 2008 5:49am
in case you guys are wondering we are in a consolidation period. The uptrend line has not been broken yet and we are getting close to it. We may see another leg up or a break down (possibly to 61.8%) or 1.4420 after which uptrend continues.....it will be interesting how this develops....there are about 6 hours of good trading left
Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 31 KB


we are in bull territory people...dont fight then trend unless you scalp..just a word of advice
Different opinions highly valued, ignorant to slander.
  • #31,626
  • Sep 18, 2008 5:58am Sep 18, 2008 5:58am
Quoting dogol
... or also from other pairs .... interesting to know ... thanks ...

I traded eurusd and euraud. One lot on each. 200 pips each.
  • #31,627
  • Sep 18, 2008 6:00am Sep 18, 2008 6:00am
Quoting psiholog
in case you guys are wondering we are in a consolidation period. The uptrend line has not been broken yet and we are getting close to it. We may see another leg up or a break down (possibly to 61.8%) or 1.4420 after which uptrend continues.....it will be interesting how this develops....there are about 6 hours of good trading left
Attachment

we are in bull territory people...dont fight then trend unless you scalp..just a word of advice
Good calls on that last upmove. Nice to confirm your analysis with my setups...and ride the bull up with you
  • #31,628
  • Sep 18, 2008 6:03am Sep 18, 2008 6:03am
Quoting efgsrl
Good calls on that last upmove. Nice to confirm your analysis with my setups...and ride the bull up with you
glad to be of help...that is the best inverted head and shoulder pattern i have ever seen...saw it since monday
Different opinions highly valued, ignorant to slander.
  • #31,629
  • Sep 18, 2008 6:22am Sep 18, 2008 6:22am
just got in and seems that i have missed the party.any idea where we are headed to.missed a lot of green pips today.
  • #31,630
  • Sep 18, 2008 6:25am Sep 18, 2008 6:25am
Quoting oolides
just got in and seems that i have missed the party.any idea where we are headed to.missed a lot of green pips today.
next bull run may start soon...theres a descending triangle and upper wall was just tapped...just not sure yet where the lower wall is yet..check your indicators

ah found it...14470...i will post chart in a sec...
Different opinions highly valued, ignorant to slander.
  • #31,631
  • Sep 18, 2008 6:25am Sep 18, 2008 6:25am
Quoting oolides
just got in and seems that i have missed the party.any idea where we are headed to.missed a lot of green pips today.
that would make 2 of us. just watching for now
  • #31,632
  • Sep 18, 2008 6:29am Sep 18, 2008 6:29am
Quoting psiholog
glad to be of help...that is the best inverted head and shoulder pattern i have ever seen...saw it since monday
it seem like its making another smaller cup ... could get another nice 50 pips.. price at 1.4485 right now...
Markets are not Random, they are designed!
  • #31,633
  • Sep 18, 2008 6:38am Sep 18, 2008 6:38am
Quoting Raza
it seem like its making another smaller cup ... could get another nice 50 pips.. price at 1.4485 right now...
agreed...will post chart after breakout happens...too early to say now
Different opinions highly valued, ignorant to slander.
  • #31,634
  • Sep 18, 2008 6:46am Sep 18, 2008 6:46am
Quoting psiholog
next bull run may start soon...theres a descending triangle and upper wall was just tapped...just not sure yet where the lower wall is yet..check your indicators

ah found it...14470...i will post chart in a sec...
I like this triangle type of analysis that you do with your charts. I'm still trying to figure out how I can' integrate your triange strategy with my strategies.
  • #31,635
  • Sep 18, 2008 6:53am Sep 18, 2008 6:53am
Guys,
I'm so lost here. Since going live on Monday I've lost 1/3 of my capital. I don't know if this week is just different than others or what. I've seen potential to make a lot of pips, but I've obviously been on the other side.

I've tried looking at fibs, triangles, pivots, etc. None of which seem to help me much. I must be using them incorrectly.

Not sure where to go from here. Part of me wants to stick with it and another part of me wants to quit... forever.

Everytime I think I have a working strategy and then try it live, it fails. For instance, I was looking at stochs and rsi's. I found a simple strategy that when looking at a chart's history, it seems good, but when trying live it failed. I'd either get it too late waiting for confirmation or I'd get in too early and didn't let what I was looking for fully form.

I'm so lost I don't know what to do. This probably has been an odd week, but there's been lots of movement and movement to me = opportunity.

Any advice, comments, slaps in the face, suggestions are welcome.

Thanks,
Doug
  • #31,636
  • Sep 18, 2008 6:54am Sep 18, 2008 6:54am
good morning...can't belicve the 1.4550 came to reality so quick. Should haev just help that first piosition, why over trade it?? hindsight is 20/20 heh
  • #31,637
  • Sep 18, 2008 6:56am Sep 18, 2008 6:56am
Price is taking some rest on top of the weekly r1. (466)
On the path to Enrichment.
  • #31,638
  • Sep 18, 2008 7:00am Sep 18, 2008 7:00am
Quoting dougdude9
Guys,
I'm so lost here. Since going live on Monday I've lost 1/3 of my capital.
Work on your Money Management. You should not have lost 1/3 of your money in 3 days.

If you are not willing to change your risk exposure: Exit now.
Otherwise, learn and do not risk more then 1% of your capital in a day.

Make 1% or loose 1% - QUIT for the day. Spending precious life time on watching charts is an incredible waste IMHO.

Forex is not about HUGE gains (or losses) in shortest period, it is about surviving long term.
  • #31,639
  • Sep 18, 2008 7:09am Sep 18, 2008 7:09am
Quoting altrader
I like this triangle type of analysis that you do with your charts. I'm still trying to figure out how I can' integrate your triange strategy with my strategies.
its not that hard really...kind of easy to spot out...the logic is simple...when you see a descending pattern...connect the spikes...the ones that dont fit the pattern and dont change the outcome ignore as they are most likely false breakouts. Same thing with ascending patterns. As far as connecting lines...they can either be a strong support resistance...fibs...or another descending/ascending line...in this particular case the pattern found support at 1.4470 as it had alot of activity a few weeks back

they are very similar to elliot waves sometimes but im not the guy to ask about that

heres the chart...hope its not a falsie hehe
Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 34 KB
Different opinions highly valued, ignorant to slander.
  • #31,640
  • Sep 18, 2008 7:10am Sep 18, 2008 7:10am
Quoting dougdude9
Guys,
I'm so lost here. Since going live on Monday I've lost 1/3 of my capital. I don't know if this week is just different than others or what. I've seen potential to make a lot of pips, but I've obviously been on the other side.

I've tried looking at fibs, triangles, pivots, etc. None of which seem to help me much. I must be using them incorrectly.

Not sure where to go from here. Part of me wants to stick with it and another part of me wants to quit... forever.

Everytime I think I have a working strategy and then try it live, it fails. For instance, I was looking at stochs and rsi's. I found a simple strategy that when looking at a chart's history, it seems good, but when trying live it failed. I'd either get it too late waiting for confirmation or I'd get in too early and didn't let what I was looking for fully form.

I'm so lost I don't know what to do. This probably has been an odd week, but there's been lots of movement and movement to me = opportunity.

Any advice, comments, slaps in the face, suggestions are welcome.

Thanks,
Doug
Reduce the number of units you buy/sell per trade to a VERY small number like 1000 units = 10cents per pip and practice.

Also this week has been an exception obviously. The US financials is basically collapsing. BIG crises. There is an increase in volatility on Forex and you see BIG jumps up and down.

In other words this has been a challenging week or two that we've had.

Don't give up. Just reduce your position size per trade and PRACTICE and continue to live another day. Despite all the action going on you don't have to collect 150pips in one day to be successful. Just try to collect 20 or 30pips and then call it a day. Be consistant.

Think about when NOT to trade. Anything relating to interest rates or central bank talk, or events related to unemployment and things that make the environment crazy should be periods that you avoid trading but keenly observe.

Also make a journal and write down the things that went wrong in your trade. Write down ideas on areas you can improve. Continue to research and improve your systems constantly. Develop systems that work during different times of volatility and trending. There is so much to learn. Take screen captures of how you trade.

Record video of how you trade. Do anything you can to improve. Don't give up. Trade with small position sizes and you'll survive.
314 traders viewing now