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EURUSD

  • #596,861
  • Feb 17, 2012 3:07pm Feb 17, 2012 3:07pm
Quoting sidhujag
EU looks like its setting up for a nice little bear to retest the lows depending on weekend news,
its not setting anything at the moment, you are looking at the end-week profit taking.
  • #596,862
  • Feb 17, 2012 3:07pm Feb 17, 2012 3:07pm
Quoting todstars2
Usd/cad showing good long opportunity at .994 to 5
honestly looks like its going to break support, the way PA is structured
  • #596,863
  • Feb 17, 2012 3:09pm Feb 17, 2012 3:09pm
Quoting cammomile
its not setting anything at the moment, you are looking at the end-week profit taking.
Looks to me on h4, profit taking or not, PA changes you trade it, will look at it on Mon
  • #596,864
  • Feb 17, 2012 3:12pm Feb 17, 2012 3:12pm
Quoting sidhujag
honestly looks like its going to break support, the way PA is structured
This is the channel I saw.
Attached Image (click to enlarge)
Click to Enlarge Name: usd cad.gif Size: 11 KB
  • #596,865
  • Feb 17, 2012 3:14pm Feb 17, 2012 3:14pm
Quoting todstars2
This is the channel I saw.
maybe, but I see a W got created on the H1, W's are bearish PA structures. Must be another down leg to create an M before a possible up move.... Only way it changes it if we GAP hard up and it keeps going
  • #596,866
  • Feb 17, 2012 3:17pm Feb 17, 2012 3:17pm
Part of short positions rather closed on be+1. Lower positions still open over weekend. I´m waiting for 1.30 next week. GL all and nice weekend.
  • #596,867
  • Feb 17, 2012 3:40pm Feb 17, 2012 3:40pm
Quoting cammomile
it happens to you, because you don't know how to read the chart properly. spend time learning support and resistance, why it is there on the chart, and what makes one area more significant that the other. this is the most important skill in trading. next, learn about price action, the importance of highs, lows, open and close price. and another thing, you don't have to trade every day to make money. scalping is a very hard skill to master, and no one should start learning how to trade by scalping the markets.

This was also very helpfull for me, thank you cammomile
  • #596,868
  • Feb 17, 2012 3:45pm Feb 17, 2012 3:45pm
Quoting KillerWhale
Done for today.
I'll have short EU, short and long EG (always play those both ways at the same time) and long UCAD over the weekend.

Why do you play EG both sides ? What is your strategy ?
  • #596,869
  • Feb 17, 2012 3:57pm Feb 17, 2012 3:57pm
Quoting okanemici
Why do you play EG both sides ? What is your strategy ?
EG is inversely correlated to EU... provides a tiny bit of a hedge... I saw it hit the MM line at 8300 maybe agood long for a hundred.
  • #596,870
  • Feb 17, 2012 4:11pm Feb 17, 2012 4:11pm
Is the weekend over yet?
  • #596,871
  • Feb 17, 2012 9:56pm Feb 17, 2012 9:56pm
Quoting todstars2
On the positive side USA can deflate(print money)our way out of our debt crisis if worst comes to worst. No problem.

Bad for US citizens as it will be and is a hidden tax by way of the grocery,consumption, bill.

European Union so far has not given this power to your central government printing office yet. Not yet.

Until then, this struggle will continue unless Europe discovers some new gold supplies or starts building Empires again.

Conquest or print money? That is the question.
I'm not sure whether this is true..Read John Maulin's Face the Music days ago

Below is the quote of the interview

But I don’t think you can do that because your debt is 350% of GDP. If you get an inflationary process going, interest rates will rise proportionately with inflation. So, if inflation goes up 1%, in time, interest rates will go up 1%. But your debt is 350% of GDP. If the inflation rate goes up, you will not get an equivalent rise in GDP, because what we’ve learned is that in inflationary circumstances, a lot of folks can’t keep up. In fact, most of your modest and moderate income households will not keep up.
  • #596,872
  • Feb 18, 2012 1:51am Feb 18, 2012 1:51am
Quoting sidhujag
EG is inversely correlated to EU... provides a tiny bit of a hedge... I saw it hit the MM line at 8300 maybe agood long for a hundred.
I tend to have both EUR-GBP and EUR-USD charts running side by side on my screen. More often than not, the two charts follow a very similar pattern, although EUR-GBP often lags EUR-USD by a short period (30 to 60 seconds). Indeed, a few days ago, I printed out the charts for both pairs over precisely the same window of time and the patterns were such that one was like a carbon copy of the other.

My broker (ETX Capital) only allows bets in one direction at a time with any given currency pair so if I want to hedge my bets, I will sometimes go long on EUR-GBP if I am already short on EUR-USD.

This tactic has worked well recently especially when EUR-USD has been ranging and/or moving sideways.
  • #596,873
  • Feb 18, 2012 2:14am Feb 18, 2012 2:14am
[quote=Tobinguyen;5394056]i don't know that i always long on top and short in bottom, it is very risk, anyone can tell me why that ? please ![/

It seems to me that you are constantly looking for a breakout. That's in your mindset. Please try and change it. If you looking for a breakout, trade after the first pull back and wait to see if it was a real breakout or a fake one. There are plenty of materials about breakout strategy in the net to read.
  • #596,874
  • Feb 18, 2012 2:32am Feb 18, 2012 2:32am
Monday usd bank holiday
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  • #596,875
  • Feb 18, 2012 2:39am Feb 18, 2012 2:39am
Quoting sidhujag
EG is inversely correlated to EU... provides a tiny bit of a hedge... I saw it hit the MM line at 8300 maybe agood long for a hundred.
The reason that I play EG up and down at the same time has for me nothing to do with hedging,
I long in one account that takes care of itself, I short in another account that also takes care of itself.

EG is roughly trading in a grid from 0.8250 - 0.8400 since 2 months now.
I put in sell orders from 0.8400 - 0.8300 that are declining in value. Big sell @ 0.84, and every 20 pips sell orders getting smaller when we go down.

At the same time my buy orders every 20 pip are getting bigger as we go lower.

I have the charts of EU, GU and EG in the middle all on one screen so that I can see where the moves in EG are coming from, GU or EU.

Both the sell and buy orders EG are higher leveraged than my EU and GU trades because the grid is more limited.

And in case we move out of the grid I am informed early since I can see both what GU and EU are doing.

This is working very well for me and I hope it will stay in that grid for a while.

A few months ago I did exactly the same when the grid was 0.85 - 0.86. I saw the move to the new grid coming so I could get rid of the buy orders with a very small loss. And started the whole process over again at a lower level.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #596,876
  • Feb 18, 2012 3:22am Feb 18, 2012 3:22am
Quoting Vectamart
I tend to have both EUR-GBP and EUR-USD charts running side by side on my screen. More often than not, the two charts follow a very similar pattern, although EUR-GBP often lags EUR-USD by a short period (30 to 60 seconds). Indeed, a few days ago, I printed out the charts for both pairs over precisely the same window of time and the patterns were such that one was like a carbon copy of the other.

My broker (ETX Capital) only allows bets in one direction at a time with any given currency pair so if I want to hedge my bets, I will sometimes go long...
eurgbp and eurusd is not good correlated currency pairs to hedge, google list of correlated currency pairs table
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  • #596,877
  • Feb 18, 2012 4:17am Feb 18, 2012 4:17am
Eurusd weekly trading range from 1hour chart to monthly chart

Inserted Video
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  • #596,878
  • Feb 18, 2012 4:29am Feb 18, 2012 4:29am
USDX is still uptrend. In fact, based on forms of the trend lines, USDX bullishness is getting stronger. The current resistance zone is 80.73-81.78, and the support zone is 78.62-77.92

http://lcchong.files.wordpress.com/2...g?w=1028&h=466
  • #596,879
  • Feb 18, 2012 5:34am Feb 18, 2012 5:34am
Hi everyone - first post here, still very 'green'. Been demo-trading for about a year and have learned alot, but obviously not enough since my results have been crappy! Not ready to go live yet.
I've spent some time over in the other forum trying out systems / strategies / indicators ... I notice over here (in the most popular thread) the talk is more about S/R, fib and fundamental analysis in predicting the EUR/USD direction.
So my first question is this -
To all the EUR/USD guru's in here who actually make real money - what is your preferred technique, or set of indicators, or strategy that you use to get accurate direction on EUR/USD?? Are you guys more into fundamental news, simple S&R, or are some of you using some set of indicators as is generously offered over in the strategies forum?
Any tips would be welcome and thanks in advance for all replies. Cheers.
  • #596,880
  • Feb 18, 2012 5:53am Feb 18, 2012 5:53am
Quoting ibpo
eurgbp and eurusd is not good correlated currency pairs to hedge, google list of correlated currency pairs table
Many thanks for that very useful info. Have a great weekend!
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