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EURUSD

  • #945,541
  • Dec 21, 2014 9:52am Dec 21, 2014 9:52am
Quoting Fxism
{quote} I hope due to some miracle eur/usd gaps up waaaaay high up!
Attached Image
A good trader follows his rules, but great trader knows when to break them
  • #945,542
  • Dec 21, 2014 9:54am Dec 21, 2014 9:54am
Quoting Fxism
{quote} I hope due to some miracle eur/usd gaps up waaaaay high up!
It seems you bought EU last week and praying that it gap wide up? Those who sold will be praying for similar gap below.
  • #945,543
  • Dec 21, 2014 9:58am Dec 21, 2014 9:58am
well i bought Eur and will buy more
Let me fill my acount wallet then will take Ur advice
  • #945,544
  • Dec 21, 2014 10:29am Dec 21, 2014 10:29am
Quoting Dano12
{image}
Its amazing, everybody has a different channel which goes to show that you can draw more channels on a chart than the Amazon rainforest.. which reminds me not to trade channels... but i would say that the euro is pretty cheap at the moment no matter which channel you are in
  • #945,545
  • Dec 21, 2014 10:46am Dec 21, 2014 10:46am
My Channel Trading Strategy, did not work too well
Attached Image (click to enlarge)
Click to Enlarge Name: channel trading.jpg Size: 485 KB
  • #945,546
  • Dec 21, 2014 10:55am Dec 21, 2014 10:55am
Quoting mkvy
{quote} Its amazing, everybody has a different channel which goes to show that you can draw more channels on a chart than the Amazon rainforest.. which reminds me not to trade channels... but i would say that the euro is pretty cheap at the moment no matter which channel you are in
The vast majority of banks and traders believe that euro is to expensive, it may fall more down in the next 2 months!
  • #945,547
  • Dec 21, 2014 11:01am Dec 21, 2014 11:01am
Quoting Fxism
{quote} it's not dead, just not much trading it's done over the weekend. The quote is not static thru the weekend. Whether is accurate or not - prolly not, however it is still the best free estimate we have.
It is dead, the little moves mean nothing, beause few hours before the market opens, I think its 3-4 hours, if there is a gap, you can see the gap happening then. If there is a gap of 40 pips, for example, you will see the price moving 1-4 pips around friday's close all weekend and then 3-4 hours before the market opens it jumps to that 40 pip gap within 1 second. Its not like people start trading from one second to another then, its just that the website doesn't know the real number before that.
Everyone can see the chart, but only a few can actually read it.
  • #945,548
  • Dec 21, 2014 11:04am Dec 21, 2014 11:04am
Quoting OnlineAddict
{quote} It is dead, the little moves mean nothing, beause few hours before the market opens, I think its 3-4 hours, if there is a gap, you can see the gap happening then. If there is a gap of 40 pips, for example, you will see the price moving 1-4 pips around friday's close all weekend and then 3-4 hours before the market opens it jumps to that 40 pip gap within 1 second. Its not like people start trading from one second to another then, its just that the website doesn't know the real number before that.

I remember a few years ago when the euro was near to 1.50 there was a 150 pip gap up, but the price went right back and closed the gap completely
  • #945,549
  • Dec 21, 2014 11:04am Dec 21, 2014 11:04am
Small gap down according to XE
Buy at the Low, Sell at the High You make money by waiting not by trading.
  • #945,550
  • Dec 21, 2014 11:06am Dec 21, 2014 11:06am
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 42 KB


EU will go to 1.20-1.18 area within few days.
  • #945,551
  • Dec 21, 2014 11:21am Dec 21, 2014 11:21am
Quoting paipai888
{image} EU will go to 1.20-1.18 area within few days.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 54 KB
  • #945,552
  • Dec 21, 2014 11:23am Dec 21, 2014 11:23am
Quoting paipai888
{image} EU will go to 1.20-1.18 area within few days.
That bottom line makes no sense...and EU definitely won't go down to 1.18 within a few days, too many hurdles in the way and too short of a period of time. First, it will re-test 2320, maybe higher...then maybe down again...but that alone is a job for a few days.
Everyone can see the chart, but only a few can actually read it.
  • #945,553
  • Dec 21, 2014 11:29am Dec 21, 2014 11:29am
Quoting OnlineAddict
{quote} That bottom line makes no sense...and EU definitely won't go down to 1.18 within a few days, too many hurdles in the way and too short of a period of time. First, it will re-test 2320, maybe higher...then maybe down again...but that alone is a job for a few days.
Everything can happen. Everything....
Buy at the Low, Sell at the High You make money by waiting not by trading.
  • #945,554
  • Dec 21, 2014 11:41am Dec 21, 2014 11:41am
Looking at the past 2 years the period we are entering is one of low volatility... no more than 20 or 30 pips moves. Sideways price action... which is perfect for my strategy... then after into the week preceeding New Year there was a stronger move...

4h chart attatched cropped to about 20-24 december
Attached Image
  • #945,555
  • Dec 21, 2014 11:53am Dec 21, 2014 11:53am
Quoting gatorinla
{quote} i did win a blue ribbon once.. https://www.youtube.com/watch?v=AF0agmxvKgQ

Inserted Video
  • #945,556
  • Dec 21, 2014 12:09pm Dec 21, 2014 12:09pm
Quoting mkvy
Looking at the past 2 years the period we are entering is one of low volatility... no more than 20 or 30 pips moves. Sideways price action... which is perfect for my strategy... then after into the week preceeding New Year there was a stronger move... 4h chart attatched cropped to about 20-24 december {image}
2013.12.27 - 212 pips
  • #945,557
  • Dec 21, 2014 12:34pm Dec 21, 2014 12:34pm
Quoting OnlineAddict
{quote} I hope you are not trading towards 1.2 within 3 days.
I am not... just watching and learning for now.
  • #945,558
  • Dec 21, 2014 2:03pm Dec 21, 2014 2:03pm
50 pip an gap up
those who can, do. those who cant, talk about those who can
  • #945,559
  • Dec 21, 2014 2:10pm Dec 21, 2014 2:10pm
Quoting MissPips
{quote} https://www.youtube.com/watch?v=RgvihRmyd5o
hi there sexy
those who can, do. those who cant, talk about those who can
  • #945,560
  • Edited 2:30pm Dec 21, 2014 2:16pm | Edited 2:30pm
Quoting Sants
{quote} actually i want to know, what's your fibs points beside 0, 38.2, 61.8 and 100 and why you plot that way? thankyou when price touched the 119.90, im expecting a retracement as far as to 50% fib (117.7x) or even 61.8% (117.21). im reloading at 117.6 and 116.97 <<<low probability
Very often market will start moves from less obvious spots for different reasons, for e.g: A normal retracement could be .5 but market instead retraces .447, what happens then? All the traders that have their fib tool plotted and are waiting for price to touch .5 retracement will miss the move and don't understand why price didn't respect the fibs when in reality price did respect but not the one expected. Another level that is very common is .707, traders waiting for .618 or .786 but market retraces exactly from .707 and turns leaving some confusion behind. The same thing applies to extensions, 1.414, 1.732, 1.902, the most important thing to watch is: Price will only turn from a level which hasn't been broken.

There is a meaning to retracement levels in general and in that we can interpret what market wants to do and try to anticipate situations. Most times .382 retracements show strong trends (means that market is so strong it can only retrace .382 instead of .5 or .618), another example is .618 and .786 retracement levels (.707 in between) these are usually the last hope for reversal and often shows whether the previous swing was impulsive or corrective as corrections shouldn't really break through these levels in theory (in reality it works most times). Finally .236 is the threshold between prices that will retrace and the ones which won't, for any retracement to be considered as such will have to break that level first, so on any swing you can plot your fib immediately and check for yourself.

This chart below shows a similar situation to EURUSD last week before the Sell off and USDJPY if it reaches the levels you said on H4 but on that one I expect only small retracement.
Have a great week.
Attached Image (click to enlarge)
Click to Enlarge Name: image004_20140417133852.jpg Size: 68 KB
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