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

Originally Posted by Mary R

yes, I am looking to sell around 1.24

Oops, sorry Mary. I really should spend more time proofing reading my posts. I meant to direct the question about price to Bill. But thanks for answering. BTW, I really enjoy reading your posts.

Originally Posted by The Southerner

Oops, sorry Mary. I really should spend more time proofing reading my posts. I meant to direct the question about price to Bill. But thanks for answering. BTW, I really enjoy reading your posts.

Thanks - I like your posts also. Im flat right now, i had the Eur/Usd short overnight and got out this morning. Not sure about now, I have a feeling we may go a little higher here like you said

Thanks Money, Inc.

I applied your strategy at E/CHF. I got 12 pips at 5m-chart.

From the previous chart notes, "watch the 50% mark". Now at the mark. Ideal: lateral consolidation then on to hit the target. Breakdown from mid-point should equal new lows. Current pattern target 2590.
http://www.tafool.com/Charts/eurusd05251015m.gif

TAfool

Originally Posted by The Southerner

However, I am curious about Bill's entry price of 1.2425. I'm assuming you're using the high on the 5/24 1300-1400 hour bar. My chart shows it peaking at 1.24165.

The Southerner

Using exact Fibonaci Levels,(which I dont) Iwas scanning the level between .618 and .764. But not liking to be without a position for a long time, it looked like a little more than a 33% retracement from the Mornings low of 1.2176 and high of 1.2390.
So I jumped back in at a nice round number. I don't like to over complicate things. I'll leave that up to My Techie Friends. Just Kidding, I love You Guys.
People! You won't find very many Gems of Wisdom from Me. I"m just having Fun Trading and making a few Bucks. I wish You all the same Success I am having.

I am talking about the 15 Minute Chart.

Originally Posted by bill2759

Using exact Fibonaci Levels,(which I dont) Iwas scanning the level between .618 and .764. But not liking to be without a position for a long time, it looked like a little more than a 33% retracement from the Mornings low of 1.2176 and high of 1.2390.
So I jumped back in at a nice round number. I don't like to over complicate things. I'll leave that up to My Techie Friends. Just Kidding, I love You Guys.
People! You won't find very many Gems of Wisdom from Me. I"m just having Fun Trading and making a few Bucks. I wish You all the same Success I am having.

I am talking about the 15 Minute Chart.

Thanks for the reply Bill. From what I've seen you seem to have a good system in place. I don't use Elliot Wave or Fibonacci Retracements in my trading. The former, although very popular, seems like a black art to me. I think the same can be said of Fibs and the price targets are too limiting.

Nevertheless, it's intersting that you came up with a price level that I would also consider valid based on analyzing support/resistance levels.

i remember trading last year where some pairs where a buy in asian session and a sell when US opened didnt last very long till markets started going in the same direction.

You guess it, it was when the vix was high

Originally Posted by Mary R

Thanks - I like your posts also. Im flat right now, i had the Eur/Usd short overnight and got out this morning. Not sure about now, I have a feeling we may go a little higher here like you said

Doesn't look like we're going to hit 1.2400 now. Still....waiting for Asia session to fire up.

Originally Posted by mechtech

Doesn't look like we're going to hit 1.2400 now. Still....waiting for Asia session to fire up.

The trend is still down, and it will break below 1.215 before its over I think. 1.2350 might be short level

Originally Posted by Mary R

The trend is still down, and it will break below 1.215 before its over I think. 1.2350 might be short level

Wow, it's like a ghost town here and in the market.

Originally Posted by carthage

I have no ax to grind here, but it is patent nonsense to think that the only way to make money in leveraged or unleveraged trading is to follow the trend. I would like to see any study that empirically shows that trend followers do better. I can show you sophisticated studies (assailable though thorough) that show the market is a random walk and that the past has no relation to the future apart from a normalized return rate. If you look at any of the successful palyers, they buy when there is fear and sell when thers is greed. This in not trend following in my mind. This is establishing a major position when emotions dominate value considerations and adding small amounts later with the trend.
I know I have a somewhat longer term style than most traders here but the people I really hate giving up profits to are the brokers and agents. So I try not to overtrade. The idea is not to trade with or against the trend. The idea is to buy at a lower price than what you sell at.

Could you explain some things more details about your strategy?
Thanks

Originally Posted by Colly

You are welcome!

"Migrated" ~ thats funny.

I was brought up by a bird-loving mother and to me migration is something that birds do in autumn and to warmer climes. Sounds like you have actually taken roost in Tx!

I accept what you say completely and to a large extent simply allow others to have their way and to follow my own. It is on days like today ( which actually means nothing at all ) that I am willing to "try-on" anothers style just to see what happens.

For me, RSI's are still the best indicator of what is going to happen. Combined with Fibo principles and EWT I find myself with more winners than losers and to me that is all that is important... especially when managed with reasonable risk parameters.

Colly

Hi, Colly
Could you explain some thing more details of "RSI's .... Combined with Fibo principles and EWT .." I like to learn them from you.

Thanks

Originally Posted by PoundGuy

Tip

When using 15min time frame in a trend i normally wait for correction to sort of form a flat at the top not less than 2 times attempt and enter at the 3rd when it bounces off without getting to the previous high.
eg AUDUSD entered short at .8333 yerstadya after failed attempts

Doesnt always work but you are working with the trend and not just trading a few pips.

Use technique when in correction phase of a trend. same can be applies on reversal but usually better on a daily chart and over a few days maybe 1 week or 2

Hi, PoundGuy
Could you explain more details this technique ? I'd like learning it
Thanks

Chart updates:

Weekly Pivot @ 2450 is the next challenge ....

Originally Posted by asherewt

Lets see how EU reacts to the Support Zone between 1.22 and 1.2058

Originally Posted by dhan1163

Hi, PoundGuy
Could you explain more details this technique ? I'd like learning it
Thanks

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