EURUSD

EUR,USD H1


SWING high-low

i'm having some trouble finding the right indicator settings on eur/usd, im using stochastic (slow, 5, 3) and MACD/oSMA (12,26,9), RSI(20), MA (10).
can anybody advice me better settings and on what timeframe i should use them. right now i use the 15m and 1h timeframe.

Do you have a trading plan?

German cabinet approves draft law on contribution to Greece aid package

Do you have a link?

Nevermind, it just came up.

BERLIN (Dow Jones)--The German government Monday began gathering political support for Germany's contribution of around EUR22.4 billion to Greece's bailout package ahead of a parliamentary vote on Friday.

Some other euro-zone governments also will need parliamentary approval for their shares of the three-year, EUR110 billion rescue package sealed by the European Union and the International Monetary Fund over the weekend.

While Germany is expected to pass the provision, it remains politically controversial with public opinion against bailing out Greece running high. That sentiment is a liability for Chancellor Angela Merkel in an important May 9 regional election.

Euro-zone countries will provide up to EUR80 billion over the next three years while the IMF will contribute up to EUR30 billion. Germany will provide up to EUR8.4 billion in the first year and up to a combined EUR14 billion in the second and third year.

Germany's parliamentary vote set for Friday will follow the widely expected approval in France. The French parliament debates the bill later Monday, and possibly Tuesday, before the senate debates it later this week.

In Italy, the government has drafted a decree and it can approve the disbursement more or less immediately.

The Spanish government has said it will amend by decree a section of its 2010 budget to disburse the funds. The decree requires parliamentary approval but is an instrument the government uses in instances where it doesn't foresee difficulties.

The German Cabinet Monday gave its stamp of approval. Chancellor Angela Merkel then will sit down with parliamentary party leaders to get them on board.

Germany's lower house of parliament is set to have a first reading on Wednesday ahead of Friday's vote. The upper house will also debate the bill Friday. Germany's president, Horst Koehler, the has to sign the bill before it can become effective.

The bill is expected to be passed with support from the ruling Christian Democratic Union, the Christian Social Union and the Free Democratic Party. This ruling center-right coalition has comfortable 332 seats in the 622-member lower house.

The opposition parties are in principle willing to back the bill, but they have set conditions. These include asking Greece's creditor banks to contribute to the bailout and implement stronger regulation of financial markets.

"The necessary majority in the Bundestag [lower house of parliament] is there with the ruling parties," Frank-Walter Steinmeier, parliamentary floor leader of Germany's biggest opposition party, the Social Democratic Party, said Sunday evening.

"But whether we support the bill depends on whether we can convince the government that an empowerment to hand out loans is not sufficient but that it will act to prevent such a situation in future," he said.

Norbert Barthle, the lawmaker and budget spokesman for Merkel's conservative parties, said Monday that banks can only contribute to support for Greece voluntary and purchasing Greek bonds would boost confidence in Greece.

"We can't force the banks to this, but there are signals that they will do it voluntarily to some degree," Barthle said on Deutschlandfunk radio Monday. "I think this is a very positive signal because it contributes to build up further trust in this [Greek] package. It will calm markets if banks signal that they will purchase Greek bonds."

The German government has rejected forcing banks to come on board, and the suggestion hasn't been picked up by the EU or other euro-zone member countries. But Merkel and Finance Minister Wolfgang Schaeuble have said they would welcome voluntary contributions.


-By Andrea Thomas, Dow Jones Newswires; +49-30-2888-4126;

just came back to c if anything changed.... nothing .... so if any up then we should go soon otherwise its still getting supported by 1hr tl to the upside should it break I go short somewhere below S1.
Did a lot of other things appart from trading good sometimes when in no need to trade....
Good luck hope US session will get more PA

where can i get your indicator that shows the trend for the diff timeframe?

You are in wrong way.

where are you from rich lady ?

Use a 50 SMA for trend indicator. Also, 30 SMA works a little faster. Gueesing the trend with Higher Highs and higher lows (and lower highs and lower lows) is tricky cause everybody uses different lowers and highers.

Rely on indicator that everyone uses with standard values (like 50 SMA).

Hope it help.s

any shorts here? price action making a triangle which means that it will continue its move down

I'm Long to 3285 and short from there. Think we get a nice bear run tonight / tomorrow.

slight break to the upside if it can sustain it.

I'll be shorting between the 38.2% and 50% retracement level from the recent low to last night's high between 264-282 depending on price action with a stop above the daily pivot at 286. if it goes down i'll see what PA says at S1 230.

slow PA with a bank holiday over here so we'll have to see if later during the US session or asia

I thought the same but it is flirting with the upside of the triangle right now...

very handy new pivot meter here as well now

http://www.actionforex.com/markets/p...2010040846445/

I have nearly the same pivot points plotted on my chart. When I use an automatic script the R3 is right, but The S3 is showing a difference of 20 pips, thats why I plot the pivots manually on the Hourly chart.

Also, I'm using GMT to calculate the values, does that difference alot with the EST pivot points?

Just Modify it to 301 - 343 area !

Mine is 327

Yes, I've noticed that also. However the fact that the market doesn't even want to get close the .3250 line makes me want to short. The candle seven hours ago went up to .3250 and went so hard back - makes me wonder how many shorts there are in that area?