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

Eur/Usd:

Well, well, well, that drop provides a situation of interest.

With 1.2707 being breached my earliest ( lower priced ) Long was stopped out in profit of a pip and I had to look at things afresh.

Like Stan, I still think we have some upside but clearly its going to be in its own time and the 10 min RSI's meanwhile shown no signs of switching up, so at 1.2707 I shorted leaving the higher longs in situ with the trade overall neutralised.

My thought is that all will move into profit anyway so am happy with things overall.

Heres the 10 min chart:

A great week-end to everyone...

Colly
---

Originally Posted by AyoBro

Colllyyy,

Ahhhhhhhh, my brother. How are you? The drunken master will have to meet with you over the weekend once more, to share his slurred tales of future wealth. Hehehehehe. Great week for you and I. Lets have another next week, and another, and another.Lol Talk to you soon!!!!

Everyone have a great weekend!!!!!!

A-Yooooooooooo

A-Yoooooooooooooooo lol

Am ok thank you

Have you gotten over the poker yet lol ?

"Thats the way we do it do it...."

I skyped you a little earlier in respnse to your question... am abit busy tomorrow with a few things but maybe we catch up on Sunday evening. IM me on Skype and let me know when suits. I'm invisible as always

Great week-end to you too and Thank you

Colly

Originally Posted by Colly

PS ~ It was just a 10 pip limit scalp which came in whilst I was writing.

I am still short at 1.2724 with SL now at 1.2715 ( +9 pips )

Thanks a lot mate.

What it means is that we look for the Currency Direction and not the Pairs itself. For example last few weeks it has been a strong Rally from Swiss Franc so ideally we should have been looking for CHF Pairs and should buy CHF. But the important point to understand is that we should only Buy CHF against those currencies which are showing signs of weakness such as EUR, GBP, CAD and USD. While we should avoid buying it against JPY, AUD and NZD as they themselves were quite bullish.

Originally Posted by dhan1163

"..This confusion was cleared when I met a person who used to look at Currency ETF charts to get future directions of one Currency (please note I've written Currency NOT Pair), once he has a direction bias for the currency, he then searches for other currencies which are in Inverse relation (only at that time) against that particular currency to decide which Pairs he should trade and in which direction..."
That 's a interesting ideas. Could you explain more detail of it?

When there is a clear Buying / Selling Interest from the Market, the price moves not only at a faster rate but it also moves without any problems, this is what I meant by Turbo Charge ...

Originally Posted by dhan1163

"...One of those Turbo-Charged Trades I've had recently was the CADCHF and the logic behind it is quite visible on charts (feel free to ask questions if its not clear)..."
What is Turbo-Charged Trades ?

I'd suggest to please refer to the comments in the charts for more explanation of logic

Originally Posted by dhan1163

Could you explain more what the logic behind it is quite visible on CADCHF's charts is?

What I meant was that the Fundamentals are equally important and we must develop a good understanding of where the overall market is heading. Trading based on TA / Charts only can be fun but will miss the 3rd Dimension

Originally Posted by dhan1163

" We, the Retail Traders often overlook the fact that there is world beyond the Wold of Indicators ..."

Could you write more things about this?. I'd like to learn more about world beyond the World of Indicators.

My 2 cents / pips ...
Asher

Originally Posted by asherewt

When there is a clear Buying / Selling Interest from the Market, the price moves not only at a faster rate but it also moves without any problems, this is what I meant by Turbo Charge ...

Asher

n what signals help you ascertain that this is going to be a turbo-charged trade?

Originally Posted by asherewt

What it means is that we look for the Currency Direction and not the Pairs itself. For example last few weeks it has been a strong Rally from Swiss Franc so ideally we should have been looking for CHF Pairs and should buy CHF. But the important point to understand is that we should only Buy CHF against those currencies which are showing signs of weakness such as EUR, GBP, CAD and USD. While we should avoid buying it against JPY, AUD and NZD as they themselves were quite bullish.



When there is a clear Buying / Selling Interest from the Market, the price moves not only at a faster rate but it also moves without any problems, this is what I meant by Turbo Charge ...




I'd suggest to please refer to the comments in the charts for more explanation of logic





What I meant was that the Fundamentals are equally important and we must develop a good understanding of where the overall market is heading. Trading based on TA / Charts only can be fun but will miss the 3rd Dimension



My 2 cents / pips ...
Asher

Hi, Good morning, Asher
Thank you for answering.
Which ETF could you look for the Currency Direction?.
I'd like to study Fundamentals, Now. Could you recommend some stuffs?

Thanks
Have a good weekend

While Piddlin with some sma"s and indicators I found this image intruiging. Hopefully it can help someone.

Oh: sma"s = 200- yellow,100-dotted yellow ,169 -purple , 144 dotted purple
and keltner's channel.

Happy Rainy Weekend from Miami.
Killing a little time this Evening, I checked the Forex XE Site and was surprised to see a 30 Pip drop from Fridays close.
What Evil lurks in the Hearts of Men? The Shadow knows.
Too soon to tell, but I'm glad I didn't close out My short position Friday Afternoon. I was gonna, then Madaam B poked Me in the Ribs. She made Her point.
Is somethihng happening in the Euro Zone I haven't read anything about?

There are quite a few Brokers offering ETFs on Currencies, I'm using The-ICE ...

Originally Posted by dhan1163

Hi, Good morning, Asher
Thank you for answering.
Which ETF could you look for the Currency Direction?.
I'd like to study Fundamentals, Now. Could you recommend some stuffs?

Thanks
Have a good weekend

Here is an example:

1. EUR --> Bearish
2. CHF --> Bullish
3. GBP --> Bearish
4. AUD --> Bullish

Now based on above bias, you will be trading the following pairs and directions

a. EURAUD --> Short ** Turbo Charged
b. EURCHF --> Short ** Turbo Charged
c. GBPCHF --> Short ** Turbo Charged
d. GBPAUD --> Short ** Turbo Charged

If you've also tried trading EURGBP and AUDCHF (based on the assumed currency strength defined above) chances are that you would have been locked in a range and price will find it extremely hard to move in any direction ... reason is that both the currencies in those pairs were to travel in the same direction so there was no clear winner / loser.

It took me a long time to figure out what they meant when they say "Being on the right side of the trade"

Hope this helps now ...
Asher

Originally Posted by Sang_froid

n what signals help you ascertain that this is going to be a turbo-charged trade?

??????????????????????????????????????????

aw-sum ...thnx

but can you also give me heads up on what are the best times to check the strength of a currency ...
for example right after Asian session .....or at daily close @ 1700 EST
what would be ideal ???

Originally Posted by asherewt

Here is an example:

1. EUR --> Bearish
2. CHF --> Bullish
3. GBP --> Bearish
4. AUD --> Bullish

Now based on above bias, you will be trading the following pairs and directions

a. EURAUD --> Short ** Turbo Charged
b. EURCHF --> Short ** Turbo Charged
c. GBPCHF --> Short ** Turbo Charged
d. GBPAUD --> Short ** Turbo Charged

If you've also tried trading EURGBP and AUDCHF (based on the assumed currency strength defined above) chances are that you would have been locked in a range and price will find it extremely hard to move in any direction ... reason is that both the currencies in those pairs were to travel in the same direction so there was no clear winner / loser.

It took me a long time to figure out what they meant when they say "Being on the right side of the trade"

Hope this helps now ...
Asher

Sorry I'm the wrong person for that, I'm not an Intraday Trader and I dont believe in Asian and European hours etc ....

Originally Posted by Sang_froid

aw-sum ...thnx

but can you also give me heads up on what are the best times to check the strength of a currency ...
for example right after Asian session .....or at daily close @ 1700 EST
what would be ideal ???

Originally Posted by AyoBro

Testing 1,2,3. Testing 1,2,3

A-Yooooooooooooo

Update, before and after. Test was successful. E/U long at the point of Dollar gap netted 40 pips from the bottom. It also looks like E/u continued for another 50 pips long. Will be studying this phenomenon for the rest of the week and will share my findings upon proofing.

A-Yooooooooooo