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EURUSD

  • #1,060,321
  • Edited 8:40pm Mar 5, 2016 8:25pm | Edited 8:40pm
Does anyone else see a possible double top pattern? (Daily/D1)

I just have this overwhelming feeling....
  • #1,060,322
  • Mar 5, 2016 8:52pm Mar 5, 2016 8:52pm
Quoting Soyo24
I expect E/U to turn down next week, it hit its 200 daily sma, and backed off significantly, it also broke down through its uptrend line last friday, which is also bearish.
If everyone expecting ECB to add QE and add all this extra money which would normally bring down the value of a currency, do you think it will still go down? I don't think so. The only reason it will go down is if he add something extra to the already promised plan or monetary policy that HASNT already been priced in. And if history can say anything for pattern wise then he will likely put out LESS than what the market has priced in.
All posts are my personal opinion
  • #1,060,323
  • Mar 5, 2016 11:22pm Mar 5, 2016 11:22pm
Quoting Soyo24
I expect E/U to turn down next week, it hit its 200 daily sma, and backed off significantly, it also broke down through its uptrend line last friday, which is also bearish.
so you say. good to know
  • #1,060,324
  • Mar 5, 2016 11:24pm Mar 5, 2016 11:24pm
Quoting longshot_nl
{quote} ty, this is my weekly view. price is in blue square. on the white lines are the orders to keep price inside. The price does not have to break down at all. Price may be in this area for weeks. {image}
so inshort you are saying we are in a range and eu doesnot have any direction ?
  • #1,060,325
  • Mar 5, 2016 11:25pm Mar 5, 2016 11:25pm
Quoting longshot_nl
my next point of interest. target is yellow or white line, we'll see. {image}
some of those trendlines are not ell drawn. they are suspended in the air. is that an indicator you are using to draw trendlines ?
  • #1,060,326
  • Mar 5, 2016 11:31pm Mar 5, 2016 11:31pm
Quoting geektrader
Btw, just was posted today: http://mechanicalforex.com/2016/03/r...1-million.html In short summarized (but check the article to see how this chance is calculated mathematically): "In this sense you are far better off waiting for a big enough jackpot in a lottery like this and betting all the money you wish to put into high risk trading rather than making these type of bets in the market. Of course the randomness in market returns fools many into believing that they have “skills”...

there is no way in this earth you are going to move from 50$ to 1 million dollars day trading or scalping.the only way to INCREASE YOUR CHANCES of reaching 1 million dollars is to trend trade.
  • #1,060,327
  • Mar 5, 2016 11:39pm Mar 5, 2016 11:39pm
Quoting mahfoozah
{quote} i started this with a $50 account yesterday as you can see..now at $355, i will withdraw $50 on monday. will i still be bankrupt??? are you still worried???
relax.if you can do it again the better
  • #1,060,328
  • Mar 5, 2016 11:39pm Mar 5, 2016 11:39pm
Quoting mahfoozah
{quote} i started this with a $50 account yesterday as you can see..now at $355, i will withdraw $50 on monday. will i still be bankrupt??? are you still worried???
hehhe. this is just whats called beginners luck.prove to us you can make money over and over again.consistency is key. donot get to overly exited about one off profits because i can asure you that if you arenot consistent with your trading in the next few months you willnot be here.
  • #1,060,329
  • Edited 12:53am Mar 6, 2016 12:31am | Edited 12:53am
listen to this if you get a chance, it will change your life.
listen with your eyes closed and focused on it, don't just listen to it in the background while working on something else.

sorry i haven't responded to anyone lately.
will take an hour and respond to everyone all at once (eventually)


happy trading this week.

and if you're trading to make money, not because you love it, you're in the wrong business.
you can't truly succeed at anything you don't have a burning desire to do everyday.

i am passionate about trading, and i deeply enjoy it, but it is a means to an end.
there are things in life i am more passionate about, which happen to require money to do the way i want to do them.

i will always trade but it wont always be day trading. the biggest players dont day trade.
its possible to make more money making one or two trades a month and holding them for a week or two
you only need eyes on the charts for a few hours a week to manage these positions (pending orders take care of the rest)

then you can spend the rest of your time focusing on living your life and giving attention toward that which might require it.


Inserted Video
Be hopeful in a winning position, and fearful in a losing position.
  • #1,060,330
  • Mar 6, 2016 1:15am Mar 6, 2016 1:15am
Quoting Rag2RichesFX
listen to this if you get a chance, it will change your life. listen with your eyes closed and focused on it, don't just listen to it in the background while working on something else. sorry i haven't responded to anyone lately. will take an hour and respond to everyone all at once (eventually) happy trading this week. and if you're trading to make money, not because you love it, you're in the wrong business. you can't truly succeed at anything you don't have a burning desire to do everyday. i am passionate about trading, and i deeply enjoy it,...
Mate, come join us in the millionaire swing trader forum , started by Geppy, you sound like a perfect candidate
  • #1,060,331
  • Mar 6, 2016 1:37am Mar 6, 2016 1:37am
"Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness that most frightens us. We ask ourselves, who am I to be brilliant, gorgeous, talented, fabulous? Actually, who are you not to be? You are a child of God. Your playing small does not serve the world. There is nothing enlightened about shrinking so that other people won't feel insecure around you. We are all meant to shine, as children do. We were born to make manifest the glory of God that is within us. It is not just in some of us, it is in everyone. And as we let our own light shine, we unconsciously give other people permission to do the same. As we are liberated from our own fear, our presence automatically liberates others."

-Marianne Willamson
Be hopeful in a winning position, and fearful in a losing position.
  • #1,060,332
  • Mar 6, 2016 2:24am Mar 6, 2016 2:24am
Quoting Rtm
{quote} If everyone expecting ECB to add QE and add all this extra money which would normally bring down the value of a currency, do you think it will still go down? I don't think so. The only reason it will go down is if he add something extra to the already promised plan or monetary policy that HASNT already been priced in. And if history can say anything for pattern wise then he will likely put out LESS than what the market has priced in.
True, but then...why did the euro retrace so much? from 1.14 to 1.08 and break its uptrend line too?
The Trend Is Your Friend
  • #1,060,333
  • Mar 6, 2016 2:28am Mar 6, 2016 2:28am
Quoting Soyo24
I expect E/U to turn down next week, it hit its 200 daily sma, and backed off significantly, it also broke down through its uptrend line last friday, which is also bearish.
With what I said though, I am long E/J so I hope I am wrong at least in the beginning of the week.
The Trend Is Your Friend
  • #1,060,334
  • Mar 6, 2016 2:57am Mar 6, 2016 2:57am
Quoting Soyo24
{quote} True, but then...why did the euro retrace so much? from 1.14 to 1.08 and break its uptrend line too?
Agreed you know who the talented traders are ...
  • #1,060,335
  • Mar 6, 2016 3:20am Mar 6, 2016 3:20am
For the second time ..
Attached Image
  • #1,060,336
  • Mar 6, 2016 3:21am Mar 6, 2016 3:21am
Quoting Not-KPMG
{quote} Possibly. Then the crazyness around ECB...... Here's a question - why is your Fibo backwards? Bonus question - if there's extension up, as the big wave suggests, are you drawing another fibo, or are you smart enough to show it all with ONE ??
Hello.
The levels of 38.2 and 61.8 will be no different, if you turn the Fib. Not only matches the level of 23.6. I have made so that you can see the support 1.10000, where the price is now stopped. It can be seen in the flat 22 - 26 February.
Sorry for the inconvenience.
Good luck in your trading.
  • #1,060,337
  • Mar 6, 2016 7:11am Mar 6, 2016 7:11am
Commitments of Traders week 9

EURUSD continued lower throughout the week and bottomed out at 1.0830 before Fridays NFP and Average Earnings report. Market sold off US Dollar on the back of wage inflation contraction.
This COT data doesnt include last Fridays positions as it was compiled on Tuesday 1st March. It would rather reflect good GDP q/q numbers from the previous week.
Looking at Non-Commercial positioning in the Euro FX futures, I see a bit of change in bias among the traders.
As mentioned in the Commitments of Traders Report – Week 8 2016 , non-commercial traders started to decrease their long contracts. This week the same pattern continued.
NC traders decreased long contracts by further 3K. This is the second consecutive week in 2016.
At the same time, for the first time this year, they increased their short positions by whooping 18K.
This looks like a massive change in sentiment, at least in the short term.
Its hard to know if the next weeks data is already reversed given the poor Average Earnings report. If the market loses the confidence in FED interest rate hike, we could see further US Dollar sell off and increase in long positions in next weeks report.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd daily.JPG Size: 224 KB
Click to Enlarge Name: eurusd cot.JPG Size: 245 KB
HumbleTraders
  • #1,060,338
  • Mar 6, 2016 8:56am Mar 6, 2016 8:56am
copper and china.. china on shaky ground. of course they may be buying with prices low, to stockpile. on the other hand, the price dropped because real demand drop. the stockpiling was done with help of demand drop, easing price. is the stockpiling demand keeping copper from dropping further atm. china stockpiles at a high. like china oil stockpiles in 2008.. disphere it, kick it around. you may have a different view. you got my view on china being full of shit years ago..
http://www.bloomberg.com/news/articl...tal-flows-east
those who can, do. those who cant, talk about those who can
  • #1,060,339
  • Mar 6, 2016 11:05am Mar 6, 2016 11:05am
I guess that is going up, until 1.1120 or 1.1140 levels. But on Thursday (GMT time) first, China IPC could give us some surprise, and the most important, Mr. Draghi at 13:30. I guess he could give some news that will create a massive bearish movemet on the pair. So, my expectations are ... bullish until wednesday night, then ... Sharp bearish movement. Let's see.
  • #1,060,340
  • Mar 6, 2016 11:38am Mar 6, 2016 11:38am
when clients earn profits and withdraw, who pays them eventually... i mean broker does not pay from its own pocket right? so there is some one else.. who???

my account in BAL does not allow withdrawals through credit card they wont let me transfer received profits on credit card to bank account or credit card (they consider it money laundering).. so for now i m on skrill.. how you guys in Pakistan do it ???
There is only one way to learn. It’s through action.
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