Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

Glad to be "off the road" and back in the office.

1.35 is the level to watch...

Originally Posted by Sean Hyman

Glad to be "off the road" and back in the office.

1.35 is the level to watch...

Good to have you back Sean. Are you trading this pair today?

Originally Posted by Sean Hyman

Glad to be "off the road" and back in the office.

1.35 is the level to watch...

Price was just waiting for you to draw the line in the sand! Now we are approaching the next line in the sand @ 13450. If you would kindly identify it so we could break through before lunch so I could leave that would be great. Glad to have you back.

Originally Posted by Steve125

Good to have you back Sean. Are you trading this pair today?

Thanks, Steve. I appreciate that. Glad to be back with you guys.

No, I'm waiting to see how EUR/USD deals with this level. If we get a "bear market rally" on it that stalls out, I'd be looking to hop on the downtrend again too.

So waiting and watching on this one right now.

There's the break below 1.3500 will it hold the bounce back if there is one.

Originally Posted by Agnoir

There's the break below 1.3500 will it hold the bounce back if there is one.

A candle on the daily chart closing below 1.35 is what I was referring to earlier.

In the near term of course, it has dipped below that level. But want to see the daily hold below that level.

In the near term, here's the level to watch.

Originally Posted by asherewt

Hi NMV,

You indeed sound to be in confusion, I'd suggest you to read Article: Introduction to Ichimoku | ichi360 and Article: Importance of Chikou Span in Ichimoku | ichi360 in details.

Chikou Span is not seen in the context of its position agsint Kumo Cloud. CS is actually compared to the Price of 26 period back. So lets say if today's price (remember CS is essentially nothing but today's closing price shifted 26 periods back) is higher then the price of 26 periods back then the Market is considered Bullish ... and of course Bearish if today's price is lower then the 26 periods back.

Watching for Tenkan-Sen / Kijun-Sen Cross (and its position against Kumo Cloud) is the most basic and conservative Trading strategy but there are other less known and used strategies as well. Kumo Breakout is one that I prefer to use more than other strategies but all of the other strategies have their own benefits.

For some reason, I'm personally against the idea of that a particular System (not just Ichimoku but anything else) works fine in just one or more timeframes but not on others. I've read this statement and I've yet to understand the Technical justification of why this (or any other) system would work well on 1H or 4H but may not work well on lets say 15mn ?

There is a general agreement in Traders community that Trading on longer timeframes reduces the amount of fake signals and the whipsaws but thats a standard statement for all the systems and not just Ichimoku.

Over the last few months, I've been more busy with my 15mn Scalping on Intraday basis (along with a Friend from another dedicated Ichimoku Forum) and if you can trust me than I'll leave my statement here that there is no reason to believe that this (or any other) system is designed for a specific market and / or timeframes. Few other traders I happen to know are scalping on 5mn with a Bulls-eye accuracy ... Its more of the ignorant nature of Traders in Western world that spreads such ideas.

Here are few links to understand more about how to Scalp on 15mn

Ichimoku Scalping: Answers to your questions | ichi360
Ichimoku Scalping: More details about rules | ichi360
Ichimoku Learning: 15mn Scalping Examples | ichi360
Trade Updates: 15mn Scalping – Hang Seng Futures | ichi360

Here is the link for Ichimoku combined with Heikin Ashi (if you're interested)
Tutorial: How to trade with Ichimoku + Heikin Ashi | ichi360

All the best with your learning and I hope these links helps ...
Cheers,
Asher

hi Asher

i found your ichi indicator on the ichi360.com, found very interesting regarding entry levels on different periods of time, however i would like to ask you if any ideas of how can i find some stops and limits levels. just "manually" adjusting using the Kumo cloud or the crosses, after entering the trade ?

thanks in advance

Originally Posted by Sean Hyman

Thanks, Steve. I appreciate that. Glad to be back with you guys.

No, I'm waiting to see how EUR/USD deals with this level. If we get a "bear market rally" on it that stalls out, I'd be looking to hop on the downtrend again too.

So waiting and watching on this one right now.

Same here. The bears need to get the break below 1.34 done early in the week. The bears have not been confident enough to hold shorts over the weekends as displayed by the sharp increase in bids late week. We are already exceeding average daily volatilty so chasing this, as always would not be wise.

I'll be watching for the current 4 hour bar to close above 1.35 for yet another failure to breech support.

EUR/CHF is coiling up more lately.

Watch to see if any intervention happens...

Originally Posted by Sean Hyman

A candle on the daily chart closing below 1.35 is what I was referring to earlier.

In the near term of course, it has dipped below that level. But want to see the daily hold below that level.

In the near term, here's the level to watch.

Sean,

Welcome back.

I am an intraday trader. I take every session seperately, US, Asian and some times europeon session early in the morning.

Especially US session, after 9.45 AM, the trend is clear and open my trades accordingly. Similarly Asian session, i wait for 7.30 PM, the trend will be clear that time, then i open trade.

Of cource i keep in mind the support/resistance levels. Is this the way the intraday traders place trades??

It seems to be working well for me and i dont depend on long term trades as i am not comfortable with it.

Thanks.

EUR/USD is going up 1.35753 in a next few of hours.. 3-Elliott Wave is developping

Originally Posted by NMV

Sean,

Welcome back.

I am an intraday trader. I take every session seperately, US, Asian and some times europeon session early in the morning.

Especially US session, after 9.45 AM, the trend is clear and open my trades accordingly. Similarly Asian session, i wait for 7.30 PM, the trend will be clear that time, then i open trade.

Of cource i keep in mind the support/resistance levels. Is this the way the intraday traders place trades??

It seems to be working well for me and i dont depend on long term trades as i am not comfortable with it.

Thanks.

There are many intraday strategies out there. So they will all take varying approaches. Keep in mind that most intraday traders are unsuccessful. The reason...they have more trading costs since they have more spreads to pay over time...and they don't allow winners to run. That's what makes it a tough (but not impossible) game.

I just took a short and went away for work to only see this... cant believe my luck..... haha just sharing ;p

Originally Posted by dhan1163

EUR/USD is going up 1.35753 in a next few of hours.. 3-Elliotte Wave is developping

Are you long on that theory? If so, from what price?

Originally Posted by Steve125

Are you long on that theory? If so, from what price?

yes, I am. EUR/USD is up to 1.35753 in a next few of hours.