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EURUSD

  • #1,060,761
  • Mar 8, 2016 4:29pm Mar 8, 2016 4:29pm
Quoting gfscapital
Did some research and found no correlation between FED's interest rate policy and prices of US Dollar. {image}
Just as any other currency its fx price is determined not just by internal policy of CB, but all other CB policies contrubute to it. If whole world is cuting you can just sit on your ass and watch your currency rise while doing nothing.
  • #1,060,762
  • Mar 8, 2016 4:48pm Mar 8, 2016 4:48pm
I am looking forward to sell the $hi* out of this
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 29 KB

Have a green one guys !
Man lie, woman lie, numbers don't
  • #1,060,763
  • Mar 8, 2016 4:58pm Mar 8, 2016 4:58pm
Probably time to close AU long and short (for now).

AU probably entering a multi year bullish phase now, but of course there will be pullbacks.

AUDNZD making a 2-year head and shoulders.

Down 80 pips on UJ long, added a 2nd one at 112.65
Still think it could go near 116 before the month ends, but could be wrong of course.
Be hopeful in a winning position, and fearful in a losing position.
  • #1,060,764
  • Edited 5:48pm Mar 8, 2016 5:29pm | Edited 5:48pm
Here's an example of how liquid EU is

1000-2000 lots within 1.5 pips of the current best bid/offer.

Looking into how to access this feed (might be the Reuters or EBS feed)

Some other feeds I have seen don't include as many LPs as this one.

Futures are liquid enough for now, but once I reach 50mil in size I'll need to switch back to spot FX (despite the fact that taxes are about 8% higher for spot)
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpg Size: 169 KB
Be hopeful in a winning position, and fearful in a losing position.
  • #1,060,765
  • Mar 8, 2016 5:37pm Mar 8, 2016 5:37pm
Some levels remain the same, some are new!
To understand what the pair is willing to do today you have to see yesterdays posts!

My thoughts is that pair is willing to go down at the moment!
Reasons - yesterday 08.03 it got above Sensitive level, and it felt down more than ( 23 or 35 ) pips, furthermore it broke yesterdays Decision point that was located at 1.1004. Today Decision point is higher than yesterday, so we are under it!
My thoughts is that Pair is willing to go down and test Daily Sensitive Support Area!

Let's get more in details!
eur/usd- can go back up and test today's Decision point! If it fails to break it upwards it can be rejected back down!
eur/usd- can not test Decision level, but go directly down to Daily Sensitive Support Area.
If it breaks DSSA 1.0954 by X pips, it can keep falling and it is a sell opportunity!
If it does not break DSSA 1.0954 and goes up and breaks DSSA 1.0968 upwards it is a buy opportunity.
If it goes up and tests Decision level 1.1021 and is rejected, it is a Sell opportunity.
If it goes up and breaks Decision level 1.1021 it is a Buy opportunity.
The same rules applies to DSRA located at 1.1094 - 1.1170

Sensitive level remains the same as yesterday, and the same rules applies to it mentioned before.
S2 level is just another Sensitive level and we can watch how market reacts with that.
I will be updating during the day!
Cheers!
If you have any questions feel free to ask.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd0903.png Size: 40 KB
  • #1,060,766
  • Mar 8, 2016 5:41pm Mar 8, 2016 5:41pm
Quoting goosebone
Would like another tap on 0998 before moving up.
Be careful what you wish for boys and girls.
  • #1,060,767
  • Mar 8, 2016 5:49pm Mar 8, 2016 5:49pm
A breakdown of the 1.1000 level on the EURUSD could take the pair to the 1.0900 level, where it may find support. Right now the 200 day EMA is acting as resistance.
  • #1,060,768
  • Mar 8, 2016 6:57pm Mar 8, 2016 6:57pm
LONG
Attached Image
A good trader follows his rules, but great trader knows when to break them
  • #1,060,769
  • Mar 8, 2016 7:04pm Mar 8, 2016 7:04pm
Quoting ill_be_back
LONG {image}
Very tight stop there! You think will not be hit? Couple pips away!
  • #1,060,770
  • Mar 8, 2016 7:10pm Mar 8, 2016 7:10pm
Quoting TPparadigma
{quote} Very tight stop there! You think will not be hit? Couple pips away!
no buy situation atm
There is only one way to learn. It’s through action.
  • #1,060,771
  • Mar 8, 2016 7:25pm Mar 8, 2016 7:25pm
Quoting TPparadigma
{quote} Very tight stop there! You think will not be hit? Couple pips away!
Lets see what happens
A good trader follows his rules, but great trader knows when to break them
  • #1,060,772
  • Mar 8, 2016 7:29pm Mar 8, 2016 7:29pm
Quoting ill_be_back
{quote} Lets see what happens
not gonna work
There is only one way to learn. It’s through action.
  • #1,060,773
  • Mar 8, 2016 7:30pm Mar 8, 2016 7:30pm
Quoting ill_be_back
LONG {image}
S/O
A good trader follows his rules, but great trader knows when to break them
  • #1,060,774
  • Mar 8, 2016 8:01pm Mar 8, 2016 8:01pm
MaxDoom

traders often go wrong expecting an amount per day etc. then tend to over trade to try and achieve it.

You should do what you feel comfortable with, but keep the leverage down and focus on entry point and patience, the rest will work itself out - over trading and over leverage is the death of most retail trade accounts

When I say patience I mean more so in waiting for correct entries than necessarily let things play out for long term trades.

If you use good exit management then you should not get big losses - there is no point sitting on a trade that has invalidated your reason for entry - that comes under the hope category, and if your trade needs a big stop to be proven wrong then surely the entry point is in the wrong place.

I do not use big stops and I do not let losers run away - and I never pay to go flat (some here call that hedging)

Print it out BIG - best advice of the year
  • #1,060,775
  • Mar 8, 2016 8:21pm Mar 8, 2016 8:21pm
Quoting act333
{quote} what happened to your live account?
It's gone. I'm going back to live after 3 months of demo testing.
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #1,060,776
  • Mar 8, 2016 8:29pm Mar 8, 2016 8:29pm
EU 1H bullish channel has been broken.

Sell at 1.09800

Target 1.09550
Just 20 pips a day to riches
  • #1,060,777
  • Mar 8, 2016 8:34pm Mar 8, 2016 8:34pm
Quoting ikdenk
MaxDoom traders often go wrong expecting an amount per day etc. then tend to over trade to try and achieve it. You should do what you feel comfortable with, but keep the leverage down and focus on entry point and patience, the rest will work itself out - over trading and over leverage is the death of most retail trade accounts When I say patience I mean more so in waiting for correct entries than necessarily let things play out for long term trades. If you use good exit management then you should not get big losses - there is no point sitting on...
Those who don't take Max' hints to heart when he shares his experience, well, do You believe they will when reading in larger font size? Nonetheless, I totally agree.
  • #1,060,778
  • Mar 8, 2016 8:47pm Mar 8, 2016 8:47pm
Yes MD is good to have in here so active, lots of great people in this thread!
All posts are my personal opinion
  • #1,060,779
  • Mar 8, 2016 9:51pm Mar 8, 2016 9:51pm
Good Morning !

Today's SR levels on MT4 Templates for EURO, CABLE, DAX, USDJPY & EURGBP
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #1,060,780
  • Mar 8, 2016 10:38pm Mar 8, 2016 10:38pm
Quoting TPparadigma
Some levels remain the same, some are new! To understand what the pair is willing to do today you have to see yesterdays posts! My thoughts is that pair is willing to go down at the moment! Reasons - yesterday 08.03 it got above Sensitive level, and it felt down more than ( 23 or 35 ) pips, furthermore it broke yesterdays Decision point that was located at 1.1004. Today Decision point is higher than yesterday, so we are under it! My thoughts is that Pair is willing to go down and test Daily Sensitive Support Area! Let's get more in details! eur/usd-...
First DSSA reached, pair may be rejected from here upwards, or it can go lower to test 2nd one. Will have to wait and see!
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