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

Originally Posted by Alejandro Zambrano

Hello Andy,

Welcome to the forum.

I was assuming that 1.40 would limit the EURUSD today and led to a continuation of the downturn. Thus one would look to sell rallies as long as price traded below 1.40. Price reached a top of 1,3960 and is now trading about 100 pips lower. The target of today is 1,38 yet given this, price is right now trading above support thus is not a good level to short as price might find support and reverse.

To keep a good balance between risk and potential profit thus it would be better to sell corrections that are kept below 1,3960. If prices trade above 1,3960 we need to assume that 1,40 will be hit.


EUR/USD 30 min chart



Thanks
Alejandro

hi Alejandro...

situation is interesting in Figure 4 hourly; nice channel formed by combining 1.4157, 1.3997 and down 1.3829 bottom line .. 1.3802 is the 23.6% fibo , There is now a fight ... which should stop this decline, I see the next support 1.3582, which gives us 38.2% fibo...

thanks
andy1

Originally Posted by piri

EUR/CAD has had steady advance now breaching above 1.42
Tonight there will be BOC rate decision, so will be cautious on this pair. If we have daily close above 1.42, it could support confirmation of target @1.43.
On daily chart it is forming a bullish shape (inverted H&D-like) which I feel will shoot high above if we don't have anything funny from BOC tonight. I will watch closely and post some update later.

ouch, that bullish shape works well , target 1.43 hit couple of mins ago, faster than what i would expect.
It is partially supported by CAD weakness against USD. As per my observation CAD is the weakest against USD among other pairs.
AUD being second weakest.
For long USD position, I prefer CAD and AUD, it moves like rocket.

Originally Posted by Gregory McLeod

Hey Piri, Thanks for the heads up. We don't get a lot of EUR/CAD posts around here so yours is very welcome and appreciated.

Could you post a chart of what you see as well?

Thanks

Greg

Hi Greg, thank you, I still have no idea how to post chart, but let me work on that soon.
I often also watch other crosses such as GBP/AUD, EUR/AUD, I found these pairs are quite consistent especially when direction against USD is unclear. hopefully will have more friends here interested in such pairs.
If there is chance i will post more about it

Anyway, I guess now everybody is interested in USD ;-)

rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr

Originally Posted by piri

Hi Greg, thank you, I still have no idea how to post chart, but let me work on that soon.
I often also watch other crosses such as GBP/AUD, EUR/AUD, I found these pairs are quite consistent especially when direction against USD is unclear. hopefully will have more friends here interested in such pairs.
If there is chance i will post more about it

Anyway, I guess now everybody is interested in USD ;-)

Thank you for your post. sometime, I do the same beyond TA. So, I'm interested in the major pairs.

Originally Posted by psperos

In my experience trading forex has a lot more to do with the personality of the trader than most things. You need to learn to remove your emotions and pay more attention to the market movement than the account balance and not adjust your emotions when you take on more risk .

I have been trading for about 10 years now. I have been through major ups and downs. I have hit it big a lost it all a few times. When i say hit it big , i am talking about over 300k from less than 5k, and trading up to 10 standard lots or more at a time. And when i say "lost it all" i mean the same amount in the other direction.

The bottom line is this, there is no right way to trade forex. What you think might be the right way, will not make you wealthy in this game. The fact is, every forex trader, retail, and even most of the bigger guns, have the same amount of information you do. There is no "big guys taking the little guys money"... that is no excuse for losing money.. if you have the right trading decisions, even with the worst broker , you will make money.

What has broke me out of my bad trend and made me profitable is feeling and understanding PRICE ACTION at critical technical, psychological levels and fundamental events and lowering leverage. Having a feel for price action is one of the few advantages one can have over another trader. That is your trade confirmation against technicals that EVERYONE sees. There is no way to teach price action, you can only learn it from experience of going trough ups and downs.

Some might know what I'm talking about, others will find out if they don't give up.


some general tips i have that some may find useful.

1. get a feel for price action
2. follow your technical setups,
3. be robot
4. don't be afraid to filp a position when you are wrong, but don't over trade
5. use some leverage.
6. never feel like you missed a move . the market will always be there.

I'd like to add more. you could loose your money by increasing their margin. they don't care about you. They increase openned positions before. Is it fair?. I don't think so. They should keep entered positions, and only increase new positions. when their computer shut down. If Your limit is not working. They don't pay back for you.
I have micro account. at start 1 lot - $2.5.
then, 1 lot - around $10. Now, 1lot - arround 30$. The first time I lost some money by voluntear. But, only a small amount and I had taken back adready. I always open some pairs with small size. I had to exit some positions because not enough margin by my calculation. (All opened positions are not over 10% of account. SL at 500 pips).
By high volatility of FX, It is riskiest one. Then, I only spend a small money (only 5-10% Asset) for it beyond stocks, fund, ETF, bond, gold, silver, saving,
I am using formula: target in FX = entered position + Volatility.
I am measuring Volatility by ATR, and by my own statistic calcualtion.
PS: I'm a new one in FX. Only more than 1 years (from July/09). Now I have some lessons as their server was down some times, increasing margin, rollovers,spread too much (one time, I open G/CAD on sunday. They spread around 20 pips!. Maybe, There is some another traps. I don't want to lose money by no knowleadge, no experience!.
Now, I only open 2 to 3 positions (only 5%to 10% of Account), and don't enter FX on sunday, while market is too slow, and the U.S holidays.
Thanks

US election nov.2 most likely start printing money nov.3 nov.25 thanksgiving. dec.25 xmas then new years. plus folks will be closing out for the year.

Hiii aallllllllll,,, also i add 2 things ,
Don’t ever buy or sell before you make your study (I did many trades based on others study , in my first days in FX, I used to include some priers to my trades too , but believe me it will never work ,,why ? looool because all other traders are prying so why GOD will help me and leave them,,,

Second thing, one of the gentlemen in this forum did write (please read as much as you can before you start trading ) actually he is completely right

Third thing: also other gentlemen did write as signature: take your profit before the market takes it (and also he is completely right)

I know my posts are many few, because I am working in my office and trading the same time ,, ,, loool ,, once I start post each day ,, you have to know that they just kick me out the work ,

nopainnogain,
i think a lot of people would love to see that
but i've fixed some profits for now, what about u guys?

but todays dollar and EUR/CHF almost hit me in the b8lls !
was a bit upset

Originally Posted by piri

Hi Greg, thank you, I still have no idea how to post chart, but let me work on that soon.
I often also watch other crosses such as GBP/AUD, EUR/AUD, I found these pairs are quite consistent especially when direction against USD is unclear. hopefully will have more friends here interested in such pairs.
If there is chance i will post more about it

Anyway, I guess now everybody is interested in USD ;-)

How to post charts:

1. Call up the chart on your computer screen.

2. Press the Print Screen key on your keyboard. (Upper right hand corner)

3. Open up a Paint Document. START-->Programs-->Accessories-->PAINT

4. On a Blank Page in Paint, Paste your image by hitting CTRL+V, or right-clicking your mouse and scrolling down to PASTE.

5. Use 'SAVE AS' and name your image. Save your document as a JPEG. Save this onto your DESKTOP, so you can find it easier.

6. On the DailyFX forum, when you post, scroll down to MANAGE ATTACHMENTS and hit this button.

7. In the small window that appears, hit BROWSE, and locate your image (remember it's on your desktop) and press open in the windows box after you find it. Now press UPLOAD.

8. Wait for the image to upload.

9. Then press close window.

10. Scroll back up to your post section.

11. Press Submit Reply.

12. You now have a chart for us to see what you are seeing.

your post are allways helpfull and full with important isseus , no matter what is the subject ,,, allways great contains and helpfull hand

i am watching you trading at 10 am , but i dont have voice on my pc ( in the work) ,, i cant understand what you are talking about ,, but i cant stop watching your lines on the chart ,,, you are profissional GREG, my wife call you the smily man,, your smile allways give hope , ,,also Mr. Tomas she call you the gentlman, i read all your posts from the begening of this forum ,, great like you ,,

many thanks ,,,

EUR/USD London session review and outlook, October 19, 2010



Regards

Alejandro Zambrano
Currency Strategist | DailyFX Forum (London)
azambrano@fxcm.com

HELLO I AM YASIR , I AM NEW TO FOREX I'VE FX MINI ACCOUNT I NEED YOUR ASSISTANCE . I AM ONLY TRADING IN IN EUR/USD

Originally Posted by khatchig

your post are allways helpfull and full with important isseus , no matter what is the subject ,,, allways great contains and helpfull hand

i am watching you trading at 10 am , but i dont have voice on my pc ( in the work) ,, i cant understand what you are talking about ,, but i cant stop watching your lines on the chart ,,, you are profissional GREG, my wife call you the smily man,, your smile allways give hope , ,,also Mr. Tomas she call you the gentlman, i read all your posts from the begening of this forum ,, great like you ,,

many thanks ,,,

Thank you for being in my trading room and giving me feedback. I wish you and your family all the best!

Please can someone advise the Asia trading times in GMT. Thanks