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

This year Tax day is on the 17th.

been scalping longs off bottom as 4 hr indies were in the sand.
chart showing 5 min breakout on wedge also trading for tgt 3030 and possibly 3050.
executed on entries via 1 min
need to see if i can reach 3030 tgt for now

Originally Posted by cw1

been scalping longs off bottom as 4 hr indies were in the sand.
chart showing 5 min breakout on wedge also trading for tgt 3030 and possibly 3050.
executed on entries via 1 min
need to see if i can reach 3030 tgt for now

Master scalper at its best........... Wham Bam thank you maa'm....

GL..

Originally Posted by Clivewaverider

In long here with 50% (rest is for fading in case I am early,which I usually am).

I have a MyWave11, divergence on MACD and the daily and weekly pivot are 100 pips above. I'll take my chances here.

Have moved stop to breakeven here at 1.3015 - got all the technicals I wanted for a move up but so far, timid. Keeping fingers crossed for an early day!

Charts from today's edition of the webinar Bulls vs. Bears @ The Trading Room 10:30 GMT (11:30 UK time or 06:30 EST Mon - Fri)

Recorded version
Bulls vs Bears - The spread Betting Morning Update April 16 - 2012 | DailyFX: Bulls vs Bears on Blip

QA session
QA Bulls vs bears spread betting market update april 16 2012on DailyFX Live Trading Room - live streaming video powered by Livestream

I like a challenge

Originally Posted by Alejandro Zambrano

Charts from today's edition of the webinar Bulls vs. Bears @ The Trading Room 10:30 GMT (11:30 UK time or 06:30 EST Mon - Fri)

Recorded version
Bulls vs Bears - The spread Betting Morning Update April 16 - 2012 | DailyFX: Bulls vs Bears on Blip

QA session
QA Bulls vs bears spread betting market update april 16 2012on DailyFX Live Trading Room - live streaming video powered by Livestream

This correction will probably continue until the end of the London session so for 4 hours more and then we will try to create a high.

If price holds above 27.2% (1.3055) maybe we will see a final attempt to 38.2% (1.3078)

Originally Posted by Engin Gencer

if we could see 1.3055 before us open, would be a good short opportunity stop 1.3130

heheheheh missed sell stop by 2 pips but a opened it manually...stop: daily close above 1.31

potential here for a very serious failure to the downside , could catch many shorting bottom of range that got sucked in by the H&S pattern as this pattern always does. Above 3080 will seal range trading, pressure to the downside while under 3050

Cutting Losses Quickly Makes it Easier to Ride the Trend- After a long decline in the risk appetite currency pairs (AUD/USD, EUR/JPY, etc.) a rebound started in the early London trading session. A clear 30-minute down trend line was broken indicating a move higher as long as morning lows held. Usually, after a trend line break, a currency pair returns to test the breakout point before moving higher. I took that opportunity to turn my longs around and fade the rallies in AUD/USD, EUR/JPY and GBP/JPY. I closed all trades at the end of the Pip and Run Live Trading Webinar for a total of 26.6 pips in roughly 40 minutes of trading.

Watch the Pip and Run Replay here: Forex Scalping Strategies: Pip & Run with Greg McLeod 4/16/2012 | Forex Scalping Strategies: Pip and Run with Greg McLeod on Blip
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I was searching for that bottom on EU today which eventually came at 1.29938. I hope that is the true bottom though after that long decline from friday 13. What a drop

Originally Posted by ForexLion

I was searching for that bottom on EU today which eventually came at 1.29938. I hope that is the true bottom though after that long decline from friday 13. What a drop

That sure was a long decline ForexLion! It just went on and on. We might have a little bit of profit taking after a better than expected US Retail Sales number before moving higher.

What do you all think?

Originally Posted by rcopadilla

This year Tax day is on the 17th.

I filed mine in February so I forgot the exact date. It fell on a weekend, that is right! Thanks

I am having a bit of a confusion understanding what is meant when we say breaking the R line or S line or any kind of line in a chart.

When you say breaking the line, what confirms that the line has been broken? i.e. closing below/above the line by a certain number of pips? What time frame? (Sometimes it closes below/above the line in 5M frame but not in 15M frame, etc Do you get what I am trying to explain here?

It just confuses me a lot and sometimes causes me terrible losses in FOREX trading. For example, I was under the impression that if price breaks below 1.3000 in EURUSD, it will eventually continue down further. So I placed a Sell Stop at 1.2996, it caught it and bounced right up! Does this mean that 1.3000 support line wasn't broken?

I really do need to fully understand this "Breaking The line" term, in order to avoid these kinds of mistakes in the future.

Much appreciated.