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

Originally Posted by AyoBro

Now that's a crystal ball!!!

A-Yo Bro

La,

Hmmm, well I still got stopped out by calling the top too soon on the 10 minute chart remember.

I am pleased to have done this little exercise because I think its time to get back to my longer term trading instead of tinkering so much.

Now then, is the last high going to hold to then complete a zig-zag down or what?

Bets please?

Originally Posted by AyoBro

Moneeeeeeeey
You about to get in trouble again?

A-Yo Bro

Dude I am merely participating in a transfer of Knowledge....

1º Thank you all for this great forum. Love your ideas.

Anybody know where one can see at what level (price) are most of the orders for long and short???

ex: 27% of the total amount of all the orders are Short at 1.2500 (+/- 0.01) ; 10% Long @ 1.2250 ; etc, etc, etc

I don't want the ratio of long to short positions... What I'm looking for is something price wise... in order to spot levels of sup and res.

Am I far off here?

Thanks,
ric

Originally Posted by MoneyInc.

I am confused, Thomas said that we could have a posiive trend with the MCAD negitive...So here is my question, " Would that not be Divergence?"

Actually what I said was that you do not need a technical indicator to confirm a trend or trend change. The price of the market itself will do that much better for you.

Originally Posted by Bilstein

Well, I'm glad I never got into that short trade I mentioned a couple of days ago. I did, however wind up with the stomach flu for a day -- maybe it was a sign?

I did manage to knab 50 pips this morning trading WITH the trend. I get into that group of folks trying to pick a top and you usually get burned in that arena. I also just started following the DJIA and the S&P to find correlations between the indices and currency pairs -- I wish I knew more about how that worked. Anyone willing to give any insight?

E/U is a positive correlation with S&P500. If you could predict E/U, you could know a movement of S&P 500. and verse visa. A lot of web sites forecast of S&P 500. Google it!
PS: EU zone contains many members and many peple trading. Now, EU has problem. It drives E/U is down. It is not easy to fix. then, If you enter long, some bad news coming from EU zone. E/U drops right way. Because many people trading. They drive E/U go down futher. Then, your SL could be triggered. Then, you loose money. Better you wait after retracing of the down trend (daily FT), then short again until the down trend reverse. At that time you enter long (this is a high probability trading style - bad news is more comon than good news at current EU zone).

Thanks

Originally Posted by MoneyInc.

I am confused, Thomas said that we could have a posiive trend with the MCAD negitive...So here is my question, " Would that not be Divergence?"

I can't speak for others but for me Divergence is applied to either, or both, RSI's and Stoch's.

I glance at Stoch's, and the same with MACD, but my leader is RSI's because I have found them to be more willing to tell me, show me, what is going to happen.

Colly
----

PS - we ought to be limited to only a certain number of questions a day lol...

You've used your 700 already

Originally Posted by dhan1163

How could I get "..good knowledge of levels where most traders and banks are watching. Those levels must also take into consideration other asset classes for validation.."

Thanks

Those folks at leopardtrader.com are trying with S&P. I follow them. Another is secretoftraders.com by Larry Levin. I think the former is simpler and mostly on the money

Originally Posted by dhan1163

E/U is a positive correlation with S&P500. If you could predict E/U, you could know a movement of S&P 500. and verse visa. A lot of web sites forecast of S&P 500. Google it!

Thanks

If you could predict the EUR/USD, which nobody can, why would you need to deal with the S&P 500? Just trade the EUR/USD.

Originally Posted by dhan1163

E/U is a positive correlation with S&P500. If you could predict E/U, you could know a movement of S&P 500. and verse visa. A lot of web sites forecast of S&P 500. Google it!

Thanks

dhan, i trade dow and the eur
Out of interest which web site do you use for forcast s&p 500.
It went above and closed above 1108 yesterday as im sure your aware, which is a tech indicator fro more buying

Originally Posted by Thomas Long

Actually what I said was that you do not need a technical indicator to confirm a trend or trend change. The price of the market itself will do that much better for you.

Thanks Thomas I am clear now. I like to always confirm trend momentum with MACD confermation. Thanks my man

Originally Posted by Thomas Long

If you could predict the EUR/USD, which nobody can, why would you need to deal with the S&P 500? Just trade the EUR/USD.

I do not think anyone is capable of predicting the market. But S&P is widely watched by almost everyone and that is the breath of US market..and every other person trades based on certain S&P levels..so many times it is useful to base trades on these levels. All other asset class track it..but some lagg and others lead at different times. Every asset class turned at S&P 1040 recent long term low of 1040

Dont know what might happen but this has worked for me so far should i see price behavior change then i change my approach

short 12360
MACD 15 MIN high, looking for the drop down 40 points

Originally Posted by zion

For me I use S&P to trade all assets as confirmation. S&P is widely followed market barometer and important levels in S&P notes the market turns..sometimes earlier than other markets. In the pas few weeks I maintained range of 1040 and 1105 to trade other markets including euro. Now that market action is looking to breakout of this range..the next S&P level is 136/40 zone. As Long as 105 is held..I keep buying weakness on euro and using important levels in euro to take profit and enter trades. If Market closes below S&P 105..then I must chaange my leaning. It has been working

What is your advice for those trying to enter a trade with 1 lot (1K)? Is it the right time to enter a trade, considering the volatile condition

Sometimes stocks and EUR/USD trade with each other...and then there's years like this past one where the opposite was true.