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Daytrading the EUR/USD... the most liquid pair

  • #101
  • Apr 5, 2011 8:54am Apr 5, 2011 8:54am
The pair has failed to break 1.4280, so.............

........Today, I expect to see some $ strength due to the FOMC minutes being released at 2:00pm.........
  • #102
  • Apr 5, 2011 12:53pm Apr 5, 2011 12:53pm
volatility approaching......
  • #103
  • Apr 6, 2011 3:15am Apr 6, 2011 3:15am
Looks like traders are not waiting for the actual rate decision ,they positioning before hand.
making green pips large and red pips small this is my goal.
  • #104
  • Apr 6, 2011 8:10am Apr 6, 2011 8:10am
Quoting paul1
Attachment

I agree we are at critical point ,but not breeched yet .

Although with oil $108 .
Rate decision likely raised thursday ,plus whatever they say at the meeting afterward.
I certainly think a push through 1.4280 ,triggering some large stops would see well into 1.4300.
Currently seeing some hesitation to push through today.
Think thursday may clarify the direction though.

USA stick with low interest ,oil maintain the price level,eur puts rates up.
We could head towards 1.5000 area.
Easily hit 1.4500 near term....

Looks like your trendline was broken last night......
  • #105
  • Apr 6, 2011 9:33am Apr 6, 2011 9:33am
Quoting AmeriTrini
Looks like your trendline was broken last night......
Yes and its holding above 4300 so far, if thursday produces rate hikes may head up further .
An average leg on 4hr can be 300pips ,On my chart i got 4150 as the start ,giving me 4450 as rough target depending on what happens tomorrow.
making green pips large and red pips small this is my goal.
  • #106
  • Apr 6, 2011 9:42am Apr 6, 2011 9:42am
Quoting paul1
Yes and its holding above 4300 so far, if thursday produces rate hikes may head up further .
An average leg on 4hr can be 300pips ,On my chart i got 4150 as the start ,giving me 4450 as rough target depending on what happens tomorrow.
Agreed!, 1.4413 which is the next resistance on my charts will be taken out and then any highs after that will be an opportunity to short in my opinion. So, I would short anything above, say........ 1.4450.
  • #107
  • Apr 7, 2011 4:10am Apr 7, 2011 4:10am
Hi AmeriTrini, I would like to know what are the things that guide your decisions in taking your price action based trades. I can't seem to find anything of that nature in this thread. I would appreciate if there are some as you know people of different levels and experience in the market will be reading contributions in the thread and it would be nice if everyone can be carried along to some extent.
  • #108
  • Apr 7, 2011 4:35am Apr 7, 2011 4:35am
Quoting AmeriTrini
Agreed!, 1.4413 which is the next resistance on my charts will be taken out and then any highs after that will be an opportunity to short in my opinion. So, I would short anything above, say........ 1.4450.
Personally if they raise rates .25% as expected ,and at the meeting afterwards there is any hint of further rises.
I will assume any move down on 1hr or 4 hr time frame to be profit taking market maker adjustments .
And on them timeframes continue to draw fibs and unless the 61% fib retrace is hit continue to be bullish monitoring ,oil, indices, any comments relating to american or euro interest rate policy.

So for me bull till something says i can make more pips as bear.
Bull till market is bear lol
making green pips large and red pips small this is my goal.
  • #109
  • Apr 7, 2011 7:49am Apr 7, 2011 7:49am
Quoting Trade_Queen
Hi AmeriTrini, I would like to know what are the things that guide your decisions in taking your price action based trades. I can't seem to find anything of that nature in this thread. I would appreciate if there are some as you know people of different levels and experience in the market will be reading contributions in the thread and it would be nice if everyone can be carried along to some extent.

price action is a self full filling prophecy, study price action........sorry you can't find anything of use........maybe you should consider going to another thread.
  • #110
  • Apr 7, 2011 7:50am Apr 7, 2011 7:50am
Quoting paul1
Personally if they raise rates .25% as expected ,and at the meeting afterwards there is any hint of further rises.
I will assume any move down on 1hr or 4 hr time frame to be profit taking market maker adjustments .
And on them timeframes continue to draw fibs and unless the 61% fib retrace is hit continue to be bullish monitoring ,oil, indices, any comments relating to american or euro interest rate policy.

So for me bull till something says i can make more pips as bear.
Bull till market is bear lol
I'm looking for a break of 1.4270 to sell..........
  • #111
  • Last Post: Apr 7, 2011 11:38am Apr 7, 2011 11:38am
Quoting AmeriTrini
I'm looking for a break of 1.4270 to sell..........
Attached Image (click to enlarge)
Click to Enlarge Name: UploadImage.png Size: 73 KB


Its easier to explain what i see with a chart ameritrini.

The red horizontal arrows are areas that turned resistance into support .

The latest being 4250.
Currently the last leg up from 1.4150 has just completed a 50% retrace to touch 1.4250 and as i type is pushing back up .

For me we would have to push convincingly through 4250 and close to even look at attempting short.
Bull still has longer legs so has more profit potential for me.
Tricket actually said that, it was not decided at this meeting that this was a series of rate increases.
from what i heard i feel if inflation raises he will raise rates ,he did say he would do everything to keep prices stable .
For me monitor inflation .
making green pips large and red pips small this is my goal.
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