EURUSD | Page 2775 | 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

  • #55,481
  • Jan 11, 2009 3:17am Jan 11, 2009 3:17am
Quoting Algirdas
http://www.algforex.com/images/stori...109nonfarm.wmv
Just remainder.
{Promotion Removed}
  • #55,482
  • Jan 11, 2009 6:51am Jan 11, 2009 6:51am
Quoting iii
Thank you for backing me up....

iii,

Well, I'm on your side. That is one of the reasons I like your posts in this thread. No indicators and thinking out of the box. Your explanations and thoughts about trading are sound and not based on 'holy grail' methods.

I have realized that PA is one way to real trading and I'm currently trying to gather has much knowledge as possible about this art. But I also know there is more than that to get a complete system.

Your 'edge' is your own and the core to your trading abilities. Revealing it would expose your way to profits and possibly lose that edge over time. At the same time we can always help eachother without exposing too much and improve our skills. I don't have my own edge at the moment but it will come with time and experience.

/H
  • #55,483
  • Jan 11, 2009 7:14am Jan 11, 2009 7:14am
Hopefully we can all get along. We are all different and our opinions do collide from time to time. Trading naked is not the only method for profiting in trading. Only one of many methods available.

Regardless of which method we use the important fact is how do we arrive to our conclusions and results. Our methods are just tools to achieve this. That is one of the advantages of this thread, many contribute with a plethora of strategies and techniques. It's a great way to find new ideas to enhance our own systems. There is no single approach which is the only correct way to trading.

Let us concentrate on how this week will evolve and set our targets for EUR/USD.

Good luck to all.
  • #55,484
  • Edited 11:26am Jan 11, 2009 7:41am | Edited 11:26am
Quoting iii
I would also like to add that no amount of indicators will make you one of the top traders, because all of them share the same flaw: they lag, and some of them lag big time.
Any strategy that is clear and mechanical can be coded as an indicator.

If you trade by price action, it's pretty simple to code an indicator that finds the exact price patterns you want to trade with. If you use some kind of volatility breakout (which you seem to imply between lines), some previous range lines on chart help. Same thing with trendlines and almost any "pa".

I use one indicator that shows what markets are open at that time all the time and shows what bars are green and/or red. I couldn't trade without it. I'm pretty sure you use might use something very similar but just don't have indicator for it.

There are indicators even for fundamental data, Hanover has already did a brilliant example of indicator capable of reading fundamental data and it definitely leads, not lags

http://www.forexfactory.com/showpost...&postcount=441

And finally, the above doesn't mean that usual indicators work (they usually dont - at least for me, only indicator that I use outside my personal "indicators" is macd for divergence) but you can't prove negative by few examples. In fact it's quite easy to prove that some indicators do in fact work, read the linked post and try the system yourself if you don't believe it works. it's totally indicator based (donchian cahnnel could be replaced with w% - it's the same thing) and does indeed make money on a very long term basis (it made much better profit before stated testing period)

http://www.forexfactory.com/showpost...42&postcount=2
  • #55,485
  • Jan 11, 2009 7:46am Jan 11, 2009 7:46am
I keep reading, and I cound't find the Pair.
EURUSD?
Psychology = Nature = Evolving Forex Market rite?
  • #55,486
  • Jan 11, 2009 8:05am Jan 11, 2009 8:05am
For looking long position, this could be good moment. EURUSD retesting previous resistance line - now could be support line. There is also something more like Crab Harmonic Pattern with some group of Fibs near this line.
Let's see what candles will tell in couple of hours...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.PNG Size: 39 KB
  • #55,487
  • Jan 11, 2009 8:09am Jan 11, 2009 8:09am
Quoting geojams
The Euro is less than 10 years old.

http://en.wikipedia.org/wiki/Euro
True....most charts which have reference to the Euro for more than 10years are actually using the Deutsche Mark (Germany Currency) for price reference.
  • #55,488
  • Jan 11, 2009 8:26am Jan 11, 2009 8:26am
Quoting andys0506
Why do Oanda charts only have 3hr and not 4hr?
Are they as reliable or should I avoid using the 3hr?
Judge by yourself... do you see any significant difference?
I personally think they are quite similar.
Attached Image (click to enlarge)
Click to Enlarge Name: Compare_oanda3H.PNG Size: 94 KB
  • #55,489
  • Jan 11, 2009 9:05am Jan 11, 2009 9:05am
hai.....eur will go long
be patient, self-belief and discipline... stay focus...
  • #55,490
  • Jan 11, 2009 9:09am Jan 11, 2009 9:09am
Quoting magictrader
For looking long position, this could be good moment. EURUSD retesting previous resistance line - now could be support line. There is also something more like Crab Harmonic Pattern with some group of Fibs near this line.
Let's see what candles will tell in couple of hours...
It's a classic risk reward setup. The question is will it test the resent lows and can traders stomach the possibility of testing 1.33 area.
  • #55,491
  • Jan 11, 2009 9:29am Jan 11, 2009 9:29am
I have read reports recently in in the past that address proposed rates cuts and the meaning and effects on currency rates. Today I write to highlight a specific contradictions and basic nonsense of short term analysis.

There is a funny occurance I have noticed lately. Their is one atypical side of the proposed rate cut that says, lower EURO rates = less desirable because of interest rates relative to other currencies and indicates some admission of "WEAKENING CONDITIONS." This is standard philosophy, although perhaps more applicable in times of economic strength.

The new analysis and perhaps more sensible is the idea that rate cuts indicate a willingness to support growth in the economy, therefore it's good for a currencies exchange rate for the long term. So, which is it??? Depends on who you talk to. The Eurozone cuts are forcasted to be .25 or .50.

When you compare recent performances of US retail to Euro Retail you see a distinct advantage for the Eurozone. When you look at Jobs, you get similar results. When you look at GDP, USA is doomed. Deficit, spending and nation debt...USA is clear failure.

If any valuation of the dollar is higher, it certainly is not on fundamentals, and granted fundamentals are dispised by some on this board, but the fact is you can't kite the dollar forever. A stronger dollar means, lower commodity prices for everyone else around the world except the US. Is this what will fuel growth?

The US dollar must weaken or the euro, or some other currency, must become the method by which commodities are priced. I think the dollar weakening is more likely.

Good luck this week.
  • #55,492
  • Jan 11, 2009 9:51am Jan 11, 2009 9:51am
I'm thinking about going long as my 1 hr chart and my MA stategy shows a good opportunity to go long.
What do you think about it?Also fib levels from last 3 trading days shows quite strong support on this level.
Good luck
Mike
  • #55,493
  • Jan 11, 2009 10:07am Jan 11, 2009 10:07am
My EW analysis also tells me to go long for the current price. I am still learning EW wave , so there is high chance that I may be wrong. However, If I am right, the 5:3 wave on daily chart is underway (image attached). If the recent low is not taken out, the above-mentioned scenario is likely and we can expect the high of wave 3:3 should be taken out. However, 5th wave failure may be possible. So if it plays out as thought, I will expect eurusd to rally for few days. After that, there may be a decent correction to the downside once w5:3 is over.
Just my own view.Cheers,
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd wave count.gif Size: 24 KB
  • #55,494
  • Jan 11, 2009 10:16am Jan 11, 2009 10:16am
Quoting ak4x
I am failing to see what you are referring to in any of his posts that qualify as "strategys".

While I appreciate what I think you're trying to say, the fact is that he himself has repeatedly said since post #7 that he uses no indicators, and can't and won't explain his methods or strategies whatever they are.

Near as I can tell, that pretty much leaves you to deal with the generic "I think it's going up or down" or some variation on that theme, enhanced by esoteric sounding references to some kind of analysis based on who knows what and...




As a new trader and follower of this thread and others, I do enjoy other traders thoughts and insights as to why and how the markets may move. Likewise I enjoy your post also. We can take a little knowledge from other traders that have been successful to develop our own trading styles. Many of these post from successful traders help us to do that. We are all after the same goal and that is pips.
  • #55,495
  • Jan 11, 2009 10:48am Jan 11, 2009 10:48am
Quoting ninohoang
My EW analysis also tells me to go long for the current price. I am still learning EW wave , so there is high chance that I may be wrong. However, If I am right, the 5:3 wave on daily chart is underway (image attached). If the recent low is not taken out, the above-mentioned scenario is likely and we can expect the high of wave 3:3 should be taken out. However, 5th wave failure may be possible. So if it plays out as thought, I will expect eurusd to rally for few days. After that, there may be a decent correction to the downside once w5:3 is over.
Just...
The elliot wave analysis from my broker sees it going lower...but my broker also said go long USDCAD at 1.21 and got stopped out at 1.18
  • #55,496
  • Jan 11, 2009 10:52am Jan 11, 2009 10:52am
Some TA voodoo to read...

http://investopedia.com/terms/c/cupandhandle.asp
  • #55,497
  • Jan 11, 2009 10:53am Jan 11, 2009 10:53am
Quoting geojams
The Euro is less than 10 years old.

http://en.wikipedia.org/wiki/Euro
And wikipedia is a reliable source?
  • #55,498
  • Jan 11, 2009 10:57am Jan 11, 2009 10:57am
Quoting TIckerShuffl
The new analysis and perhaps more sensible is the idea that rate cuts indicate a willingness to support growth in the economy, therefore it's good for a currencies exchange rate for the long term. So, which is it???...
The quandary you bring up is what traders are struggling with. But, as we know, it is not always about fact but perception. Any analysis will struggle because it is more difficult to figure out the perceptions than the facts.

Quoting TIckerShuffl
When you compare recent performances of US retail to Euro Retail you see a distinct advantage for the Eurozone....
I have noticed this lately too. I have the perception (there it is again) that Europe tend to be less subject to wide swings of growth and correction that the U.S. experiences. This leads me, and perhaps others, to believe the U.S. will grow faster and sooner than the E.U. I think we are seeing that represented in the ebbs and flows of the pair over the years. This may explain some traders current mid-term short-bias.

Quoting TIckerShuffl
A stronger dollar means, lower commodity prices for everyone else....
I am not sure about that. I know there has been correlation in the recent past but is it always so? I am open to a change of opinion but I am not convinced of an ongoing correlation.

BTW, nice post.
  • #55,499
  • Jan 11, 2009 11:06am Jan 11, 2009 11:06am
The basics are: The pair is in a bullflag and MACD is still above 0 and most likely will neutralize within the next 2-6 weeks. If this develops as expected the pair has a potential to go down to 1.32-1.29 to build a second bottom. I can not understand why you discuss this in a way like:
"I have this secrect system" or any other "opinion".
The standard MACD shows the fact what is really going on in the moment.
For the future: Whether MACD will neutralize or not, we will see in February. And this fact either way will not be a secret for anybody.
Attached Image (click to enlarge)
Click to Enlarge Name: 2009.01.11 17.55.gif Size: 16 KB
/ ... clarifying decisions ... /
  • #55,500
  • Jan 11, 2009 11:16am Jan 11, 2009 11:16am
I just said that on my 1 H chart the complication of simple Ma crossover, Stoch and RSI feels like going up. I asked you for an advice as I'm still new to trading (about 9 months).
Mike
202 traders viewing now