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

Originally Posted by rcopadilla

What version of Excel created that file? My version can't display it properly.

that must have been 2000 as its pretty old

Originally Posted by rcopadilla

What version of Excel created that file? My version can't display it properly.

lets try this one then DailyROI(1).zip

I in NO WAY recommend any daily targets or weekly or any targets period as this only leads to over trading. Take what the market gives you and as long as EOM is in the + you're doing something right

Originally Posted by CodyB

that must have been 2000 as its pretty old

I tried opening the file with Open Office as well but it still does not display properly. Have you tried opening the file recently? It might have become corrupted.

Originally Posted by CodyB

lets try this one then DailyROI(1).zip

I in NO WAY recommend any daily targets or weekly or any targets period as this only leads to over trading. Take what the market gives you and as long as EOM is in the + you're doing something right

Thanks, It displayed properly.

Originally Posted by rcopadilla

I tried opening the file with Open Office as well but it still does not display properly. Have you tried opening the file recently? It might have become corrupted.

try the new one its from my backup drive

Originally Posted by rcopadilla

Thanks, It displayed properly.

While 1% to 3% would be good for newbies who have to follow basic trading rules to protect themselves, more experienced traders will be more aggressive and expect better returns.

Originally Posted by rcopadilla

While 1% to 3% would be good for newbies who have to follow basic trading rules to protect themselves, more experienced traders will be more aggressive and expect better returns.

Its all relative to account size and more experienced traders dont look for a % per day or week, it all EOM and EOY results that matter. I dont know anyone that I trade with that does this for a living that look for anything on a per day average. That as mentioned only leads to overtrading and stress. The only thing a trader should be concerned about is risk per trade not profits per trade or per day. Capital preservation is the #1 key to this business. Not profits. Control risk and profits will come.

Always Consider the Consequences of Your Actions.doc

always risk first

Originally Posted by EuroTraderApp

Hi fellow traders,

I must say I'm glad that, at-least in this forum, there seems to be a divergence of views as to where the Euro heads in the short term, relative to the dollar. That's healthy, because a 100% consensus short view almost always results in a contrarian bounce (i.e herd mentality hurts) - at least from my experience in the equity markets over the last decade.
[B]

Midas

Hello Midas.

It is so beneficial for us technocrats to read & consider the opinions posted here by yourself, Robert Eckert and other "fundamentalists" (in the good sense of the word, of course) in this forum. Your taking the time to share all your knowledge of fundamentals with the FX trading community is much appreciated.

I totally agree with you. As a matter of fact, when a majority of traders are short versus the ones who are long and that number increases over time (and viceversa), is the foundation of FXCM's Speculative Sentiment Index (SSI), a contrarian indicator. The daily chart below shows me a clear sign that the pressure for price to trade higher is still strong: on the M15 chart, the mid line between the daily pivot R1 and R2 lines was surpassed twice and the market closed in a clear mood to go higher. On the daily chart, the Thursday candle (red, long shadow) showed indecision in a market still dominated by bears, likely because it was prior to the NFP news. This made me suspect that the pressure for the price to change direction could not be held much longer. Then came Friday with its 179 pip range and upward tendency after the news forming a major higher high. I would need a major higher low to change my "official" bearish bias, although my "gut feel" bias seems to have changed to bullish in the very short term. I'm also watching the bullish pennant chart pattern evolving on the M15 chart. A break above the pennant's upper resistance line would confirm my suspicion.

Cheers.

Originally Posted by ericwong

EuroTraderpp - Thanks for this preview report. I like to see Euro heading towards 1.20 because I shorted it and will be laughing if it hits this level. Your report gives me confidence of the position I had taken. Thanks

No worries - patience is virtue

Originally Posted by Malabar

Hello Midas.

It is so beneficial for us technocrats to read & consider the opinions posted here by yourself, Robert Eckert and other "fundamentalists" (in the good sense of the word, of course) in this forum. Your taking the time to share all your knowledge of fundamentals with the FX trading community is much appreciated.

I totally agree with you. As a matter of fact, when a majority of traders are short versus the ones who are long and that number increases over time (and viceversa), is the foundation of FXCM's Speculative Sentiment Index (SSI), a contrarian indicator. The daily chart below shows me a clear sign that the pressure for price to trade higher is still strong: on the M15 chart, the mid line between the daily pivot R1 and R2 lines was surpassed twice and the market closed in a clear mood to go higher. On the daily chart, the Thursday candle (red, long shadow) showed indecision in a market still dominated by bears, likely because it was prior to the NFP news. This made me suspect that the pressure for the price to change direction could not be held much longer. Then came Friday with its 179 pip range and upward tendency after the news forming a major higher high. I would need a major higher low to change my "official" bearish bias, although my "gut feel" bias seems to have changed to bullish in the very short term. I'm also watching the bullish pennant chart pattern evolving on the M15 chart. A break above the pennant's upper resistance line would confirm my suspicion.

Cheers.

Thank you and I appreciate your technical commentary. My technical skills are limited to RSI, MACD, Slow Stochastic, sadly .

May I ask traders here who starts to trade at 3.00pm ET on Sunday. Thank you

Originally Posted by CodyB

EURUSD needs a close today above 1.2432

See ya sunday for premarket review

go enjoy the weekend

well we got a close AT 1.2432, good enough

Early price action is trading below the 5min 50EMA which was providing support. There are some lower bands around 1.2380 that could provide support for the bounce back up to test the 50EMA which will probably become resistance.

Though I am dollar bullish. Price action is moving to a 5 wave correction decline on the US dollar.

The process of making lower lows as well as lower highs has started.
The minimum upside target around the upper BB60 on the 1hour timeframe has been tagged.