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

The US Dollar Index and AUD/USD have proved to be highly correlated to the Dow Jones Industrial average and can be used as an indicator for trading other pairs. As the DJIA makes new lows, Aussie has been much more sensitive to the fluctuations than the Euro. Here is a link to the Forex Correlation Table and Summary that can aid you in your trading!

Happy trading!

Originally Posted by cw1

hi and thanks sean- yes I got caught up in it briefly when it started.......i had to high speed reverse out of the way whilst visiting a friend and if i hadnt i have no doubt i would have been mashed up a bit...
In reflection though , kinda felt like starsky and Hutch driving out of it !!!

Glad you are OK Cw1. Be careful. This reminds me of my drive through the streets of Los Angeles during its riots. This too shall pass.

Originally Posted by Paul Chin

5 hours. 24 trades. 18 longs. 21 gains for 150 pips. 3 losses for 138 pips. Net gain: 12 pips. Damn!

Attachment 94070

But like Stryker said, can't complaint... why I've scalping long throughout this freaking 200 pips drop! And I'm not dead!

These days happen to the best traders at one time or another. Lots of good advice given but it is one of those "you had to be in there to understand" kind of moments.

Originally Posted by Paul Chin

5 hours. 24 trades. 18 longs. 21 gains for 150 pips. 3 losses for 138 pips. Net gain: 12 pips. Damn!...
But like Stryker said, can't complaint... why I've scalping long throughout this freaking 200 pips drop! And I'm not dead!

i have had days where 100+ pips days turned into 100- pips days. trade long enough and you have all kinds of days.

but you did good, you made profit for the day, and in my book ANY profit is good profit and any days i make money is a good day.

keep your head up and keep trudging along. as Nietzsche said "as long ad it does not destroy me, it makes me stronger"

PEACE

Ok guys, I've got two counts - one calling for lower and the other for higher short term. But ultimately both are looking for higher prices. I prefer the first one and if the price goes bellow 1.4050 ( low of red -c- wave) the second count will be invalid and we can expect to see 1.38 and bellow.

So take your pick but don't be fooled by any sharp sell off if/when that happens. EUR is not going to parity any time soon IMHO.

Good luck !

If the Euro has you puzzled, you may want to look at EUR/USD's cousins, namely the Euro crossrates, to find trading opportunities. A number of them are breaking above resistance and are showing smooth impulse moves. You can see a list of them with their corresponding charts and support/resistance levels here

EUR/USD London session review and outlook, August 10 - 2011

Sorry for the low volume. You really need to put the volume on maximum to be able to hear.




Regards

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

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not much to say: just stay on correct side of trade.pretty tired been working equity options for past several weeks along with forex.so time has been importance to me.( words out Prechter has reservations @ Olive Garden.)

I'm ready for round 2 if this wants to break. even though the H&S patterns are a little choppy.. with all the peaks in the price swings a break down of the trend lines will act in the same concept that define at H&S pattern - multiple failures of new high price advances that lead to a break down of common support

Originally Posted by GIMONEY

you look like need a more money management skills and use tight stop loose orders

No problem, mate. Just venting a little frustration. This kind of days still happen every now and then
Of course, I'm interested to learn more about money managment and tight stop loss as well, please tell.

I can't get this concept out of my head. Still aiming for the right shoulder of possible HnS on 30min.

Originally Posted by Paul Chin

No problem, mate. Just venting a little frustration. This kind of days still happen every now and then
Of course, I'm interested to learn more about money managment and tight stop loss as well, please tell.

Yeah, that's the way it goes sometimes. But man I could tell you stories about money management/gain/love and loss.... Just when you think you've got it all figured out, the game suddenly changes! Not really, but metaphorically speaking it does. And that's why I love it! Every day is potentially a new learning experience, so what can the market teach today?

Well, for starters it has shown us that not every tea cup is played as it should be, and then it has shown us a bit of safety in knowing what others are thinking, then it has shown support and resistance levels which are capable of changing thought patterns.

All in all I'd say it was a good day. The MA_ADVISOR put 163 pips in my pocket between late last night and mid morning today, so I have no complaints, but I do wish things turned out a bit differently.

Anyway, Happy Trading,
t3t4

likely to go back to the pivot before heading on down to S1.

I would suggest that it has more upsie for a while and then a dive right on by

Originally Posted by Ikee

likely to go back to the pivot before heading on down to S1.

I'm just not sure if it will reach the pivot. 1.4245 seems to be too high to reverse there. It is also higher then NY's previous high which negates the downtrend. I'll go for 1.4215-25. Or maybe just to 1.4195 (61.8% fib of the recent down move)

Edit: This move of 100pips up is too aggressive. I'm not gonna trade this overnight,. but the right shoulder is forming. lol Cashed some 50pips. Good night.