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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #20,821
  • Jan 25, 2012 3:04pm Jan 25, 2012 3:04pm
Quoting rekon67
Hi PT,

is there any post where you have uploaded your current chart set up for E/U, would like to have this setup if possible?
Here you go.

This is my normal setup with the custom indicators that you may not have. It applies to all time frames from M1 to D1. Weekly and Monthly are pretty well the same but have more long term channels.
Attached File(s)
File Type: tpl eu_template.tpl   6 KB | 303 downloads

Attached File(s)
File Type: mq4 AutoPivotIndicator_ver5.mq4   31 KB | 409 downloads

Attached File(s)
File Type: mq4 macd_adjustable.mq4   4 KB | 328 downloads

Attached File(s)
File Type: mq4 RSX.mq4   2 KB | 329 downloads


This is the PipTrapper-cci setup with custom indicators. Works best on M5 and M15 but you are free to try it in others.
Attached File(s)
File Type: tpl pt-cci_template.tpl   8 KB | 416 downloads

Attached File(s)
File Type: mq4 CCI-Custom.mq4   5 KB | 419 downloads

Attached File(s)
File Type: mq4 AutoPivotIndicator_ver5.mq4   31 KB | 409 downloads


Enjoy
Those who say it cannot be done should not interrupt those who are doing it
  • #20,822
  • Jan 25, 2012 3:15pm Jan 25, 2012 3:15pm
Quoting rekon67
Hi Rod, how are you ?
I'm quite good reckon and you? Good day trading i hope?
  • #20,823
  • Jan 25, 2012 3:15pm Jan 25, 2012 3:15pm
Quoting Cgb
Here's something interesting I've noticed in the last few days...
I'm sure you know this already but risk is judged by the whole market movement and the dollar is at the centre of it all.

I believe AJ is a lagging indicator because it is a cross currency pair. AJ is highly correlated with AU. The difference between AU and EU is obviously E and A but the correlated link is U. Watching U = USDX is the key. USD is the backbone of the currency market.

In fact watching AU instead of AJ would have been a lot more insightful today because all of the major moves were in USD and AUD. Dollar weakness and aussi strength.

Keep up the observations on correlation mate. Currencies are hard because it is a whole of interconnected parts - a system.

..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ua.gif Size: 53 KB
Click to Enlarge Name: euajcorel.gif Size: 48 KB
  • #20,824
  • Jan 25, 2012 3:25pm Jan 25, 2012 3:25pm
Quoting Tyoon
I'm sure you know this already but risk is judged by the whole market movement and the dollar is at the centre of it all.

I believe AJ is a lagging indicator because it is a cross currency pair. AJ is highly correlated with AU. The difference between AU and EU is obviously E and A but the correlated link is U. Watching U = USDX is the key. USD is the backbone of the currency market.

In fact watching AU instead of AJ would have been a lot more insightful today because all of the major moves were in USD and AUD. Dollar weakness and aussi...
Thanks Tyoon for the info and comments. Where do you get the Daily Correlation table?

TIA.
I observe your reality but live my own.
  • #20,825
  • Jan 25, 2012 3:26pm Jan 25, 2012 3:26pm
Quoting RodMca
I'm quite good reckon and you? Good day trading i hope?
everything is good buddy, EurAnalysis helped and helping me a lot, 2.50 AM now should go for a sleep now to get ready for tomorrow's office

I have a question related to Forex and Mindset. May be we both comes under a same category as part-time trader (guess I am right).

Question is do you want to become a full-time trader? If yes, then what are the factors you will be considering before you take the final decision? Which factor will play as the most important thing for the decision?

This is a odd question but may help many people around here. cheers.
  • #20,826
  • Jan 25, 2012 3:27pm Jan 25, 2012 3:27pm
Quoting Cgb
Thanks Tyoon for the info and comments. Where do you get the Daily Correlation table?

TIA.
Shit load of info on this site. ForexTicket

It's under forex correlation and currency index.
  • #20,827
  • Jan 25, 2012 3:28pm Jan 25, 2012 3:28pm
Quoting PipTrapper
Here you go.

This is my normal setup with the custom indicators that you may not have. It applies to all time frames from M1 to D1. Weekly and Monthly are pretty well the same but have more long term channels.
Attachment
Attachment
Attachment
Attachment

This is the PipTrapper-cci setup with custom indicators. Works best on M5 and M15 but you are free to try it in others.
Attachment
Attachment
Attachment

Enjoy
Excellent PT! Thank you!!!!!!!!!!
  • #20,828
  • Jan 25, 2012 3:29pm Jan 25, 2012 3:29pm
Quoting knoholygrail
Could you post a chart of the last two weeks showing first EUR/USD and then EUR/JPY and finally USD/JPY so we can all see the PICTURE.

The KEY is watching the Yields on the 2 Year US Bonds and 10 Year US Bonds to see where the money is flowing as it goes in and out of the US Bonds as money can only be parked there for the moment as no other Asset Class has enough safety and liquidity for the moment.
here they are
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu kho1.JPG Size: 133 KB
Click to Enlarge Name: eurjpy kho2.JPG Size: 127 KB
Click to Enlarge Name: usdjpy kho3.JPG Size: 127 KB
  • #20,829
  • Jan 25, 2012 3:29pm Jan 25, 2012 3:29pm
2 long closed eu and ej and 2 still running..And 1 short nzdusd is under water
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 16 KB
Click to Enlarge Name: ej.gif Size: 15 KB
Bulls Run. Bears Bite. We Profit.
  • #20,830
  • Jan 25, 2012 3:31pm Jan 25, 2012 3:31pm
And 1 more long on uj
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 15 KB
Bulls Run. Bears Bite. We Profit.
  • #20,831
  • Jan 25, 2012 3:34pm Jan 25, 2012 3:34pm
Quoting Harpe Eagle
2 long closed eu and ej and 2 still running..And 1 short nzdusd is under water
You went long EU and short NU? Were you hedging yourself?
  • #20,832
  • Jan 25, 2012 3:41pm Jan 25, 2012 3:41pm
Quoting rekon67
everything is good buddy, EurAnalysis helped and helping me a lot, 2.50 AM now should go for a sleep now to get ready for tomorrow's office

I have a question related to Forex and Mindset. May be we both comes under a same category as part-time trader (guess I am right).

Question is do you want to become a full-time trader? If yes, then what are the factors you will be considering before you take the final decision? Which factor will play as the most important thing for the decision?

This is a odd question but may help many people around...
Yes, my ultimate goal is to become a full time trader for myself. First thing on my list is having the required capital I wont start with any less than 10k otherwise I won't earn enough income to subsist let alone re-invest, it would put too much pressure on me and there would always be the mindset of having to trade. The rest is simply down to labour mobility. If I go out by myself I want to have the alternative of working in a company, hence why I'm getting my degree and sorting out an internship for the summer ahead. I believe without some experience in an institution and working with a team, it would be very difficult to get a position unless you have the right contacts.
Aswell as that I obviously want to have a system which works for me, that I understand fully and that I can consistently profit from. I think I began trading at the optimal time as I still have a year and a half before I really get down to business. My goal for that period is to build a 10k account, which at that point would be disposable income, and to build up a knowledge base that I understand all the jargon and economic data that comes out, so my economics in college will help with that.
I know I have the backing of my parents and should I ever need capital I know I have it because they also want me to this and think its the business to be in. So once those closest to you are backing you to do it, then do it!

Hope this sufficiently answers the question for you
  • #20,833
  • Jan 25, 2012 3:45pm Jan 25, 2012 3:45pm
Quoting Tyoon
You went long EU and short NU? Were you hedging yourself?
Nope...I short it at R2..Now I am hoping that it will come back to my level...Stop at 0.82250...Let see
Bulls Run. Bears Bite. We Profit.
  • #20,834
  • Jan 25, 2012 3:56pm Jan 25, 2012 3:56pm
Quoting Harpe Eagle
Nope...I short it at R2..Now I am hoping that it will come back to my level...Stop at 0.82250...Let see
This is why I was asking if you were hedging. NU is highly correlated with EU so you were in a locked position. EU long is almost an equivalent to an NU long. So your EU long countered your NU short or visa-versa. USD was the driver today so the correlation is very tight.

..
Attached Image (click to enlarge)
Click to Enlarge Name: eunugif.gif Size: 27 KB
  • #20,835
  • Jan 25, 2012 3:58pm Jan 25, 2012 3:58pm
Quoting Tyoon
This is why I was asking if you were hedging. NU is highly correlated with EU so you were in a locked position. EU long is almost an equivalent to an NU long. So your EU long countered your NU short or visa-versa. USD was the driver today so the correlation is very tight.

..
Not really have you looked at EURNZD lately? NZD > EUR so essentially you can sell eu and buy nu and be in profit at any time the last few months.
  • #20,836
  • Jan 25, 2012 3:59pm Jan 25, 2012 3:59pm
Quoting Harpe Eagle
2 long closed eu and ej and 2 still running..And 1 short nzdusd is under water
Why didn't you just long EZ? Looks like another down leg before a big up
  • #20,837
  • Jan 25, 2012 4:07pm Jan 25, 2012 4:07pm
I think anyone long the EURUSD right now might be flirting with dangerous territory. Its 5pm EST and its extremely extremely overbought all the way up to the 4 hr chart with no fundamentals really supporting the upwards movement. ... This is looking like the end of the upward correction and its probably about to take that next leg down to the 1.25 area, here we come, watch out below. (Keep in mind it moved up about 500 pips from the low which I think is a major correction, it gonna have to give it all back in my opinion, we'll see what happens.)
  • #20,838
  • Jan 25, 2012 4:10pm Jan 25, 2012 4:10pm
Quoting sidhujag
Not really have you looked at EURNZD lately? NZD > EUR so essentially you can sell eu and buy nu and be in profit at any time the last few months.
Yes, that's EN (a cross currency) but we are talking about EU and NU where the USD is the focus. Today the focus was on USD.

Correlations change focus from one currency to another. For example, NU could have been more weighted to NZD because of something commodity driven whilst USD was quiet and had no fundamental influence (or visa-versa). Today NU was more USD weighted and so was all other USD related pairs because of the fundamental USD influence.
  • #20,839
  • Jan 25, 2012 4:13pm Jan 25, 2012 4:13pm
My whole strategy I can equate to a baseball terminology of just sitting and waiting for the fastball to hit, because in this version of baseball we call FX, there are no strikes if you don't swing, so I just sit and wait for the fast ball and swing when it comes, and I think it just set up beautifully for that short and a huge cascade down from here so I'm going for it.
  • #20,840
  • Jan 25, 2012 4:48pm Jan 25, 2012 4:48pm
Quoting nyfx718
My whole strategy I can equate to a baseball terminology of just sitting and waiting for the fastball to hit, because in this version of baseball we call FX, there are no strikes if you don't swing, so I just sit and wait for the fast ball and swing when it comes, and I think it just set up beautifully for that short and a huge cascade down from here so I'm going for it.
Great, care to share an analysis backing your 'cascade down' expectancy? Any PA, tech or fundie reasoning?
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