Angela merkel needs Euros
Mario draghi doesnt
Just see who has a louder voice
at the moment
It hit back again 1.1494 pivot, shoot! it’s just like it doesn’t allow to go high, but the lower part still got some space
How come if there’s announcement people don’t trade? Draghi, RBA and BOJ? and the market goes crazy
BOJ on thursday?
Bank of Aussie was yesterday tuesday?
Euro meeting wednesday?
Oh uh, now it reached my lower set up short @1.1467 tp @ 1.1426
I need to stop trade today, set up doesn’t work and I have no idea what’s happening, is it about announcements? I have no idea what’s going on
Hi Ying,
Your setup fail because EURUSD is currently experiencing
a heavy retracement. Not just your setup, most people with intraday setup will fail,
whenever trading range consolidate or goes wild and form an open wedge pattern.
Today, EURUSD forms an intraday open wedge pattern.
From a Fibonacci retracement perspective,
Support level is at 1.1448 (zero%)
EURUSD current trading range is between 1.1448 to 1.1616 price level.
In theory, Price could hit 1.1512(38.2%) and 1.1552(61.8%).
It may even extend to 150% level, provided that the bullish run continues.
From an Ichimoku viewpoint, by eyeballing,
my common sense tells me that EURUSD is still Bullish,
and is experiencing a heavy retracement.
With respect to Pivot level,
Immediate Support stands at Wed S1: 1.14571
Main Support, stands at Monday Pivot level: 1.14219
If Monday main support is breached,
that may be a hint to a possible trend reversal.
or Choppy conditions.
Henceforth,
The three support levels are
1 - 1.14571 (Wednesday S1)
2 - 1.14480 (zero% or Monday’s Low)
3 - 1.14219 (Monday’s Pivot Level)
The three conservative Targets level are
1 - 1.15366 (Wednesday Pivot)
2 - 1.15520 (61.8% retracement level)
3 - 1.15804 (Wednesday R1)
My current Targets projection for tomorrow stands at : 1.15520 (61.8%).
Support level stands at : 1.1448 (Monday’s Low)
i can see it pass to the cloud of ichimuko, i believe its going to trend down
I have calculated my size of my last resort money
I have opened 3 trades with min lot
Short @ 1.1493
SL@ 1.1600
TP: Open
I think we will get some confirmation on greenback towards the end of the week, If dollar can’t stop it’s current toward trend then I agree that the bullish run is long from over. IF it can, we may go back to sideways actions for a while in the coming month.
Something tells me that above 1.1600 is the last resistance we gunna encounter. Last night all my strategies and setup didn’t work. I would rather invest now short, cause i believe US dollar vs Euro is coming back but i might be wrong.
[QUOTE=“Ying17;763568”]I have calculated my size of my last resort money I have opened 3 trades with min lot Short @ 1.1493 SL@ 1.1600 TP: Open[/QUOTE]
It’s my bad habit again, I promised not to enter in pivot point, I’m closing all winning trades
I got trade in AUD/USD i found a 40% volatility shows going up so i entered
Hi Ying,
AUDUSD hav fallen quite a fair bit last few days. Market volatility might be reduced for today. Maybe can consider aiming for 10-15pip profit targets?
EURUSD definitely is not a trending market right now. Good idea to stay out. Handling choppy market conditions require lots of experience.
[QUOTE=“alphahavoc;763643”]Hi Ying, AUDUSD hav fallen quite a fair bit last few days. Market volatility might be reduced for today. Maybe can consider aiming for 10-15pip profit targets? EURUSD definitely is not a trending market right now. Good idea to stay out. Handling choppy market conditions require lots of experience.[/QUOTE]
Ok, I’ve closed it doesn’t seem to work out and loose 1 pip
Ying are you trading according to plan ? Most often you get the advise. Not trading is also a decision .
Ying,
Since you are taking a break due to choppy market conditions. I would like to know your setup for entering and exiting a trade. If you don’t mind sharing.
I might just be able to fine tune it.
I have the following question:
- How do you do trend determination
- what’s your entry criteria
- what’s your exit criteria
- Lots size in relation to your available margin
- Do you average or hedge?
- Adopting any money management progression?
I am following according to plan but, there’s a loop hole in my plan and trying to revise it.
I’m still blind when it comes to volatility.
The following question:
- How do you do trend determination
<= i use percentage 30 ~ 50% from opening price of the day - what’s your entry criteria
<= above or below first support or resistance, following trend - what’s your exit criteria
<= daily breakout price, if against i would exit with a winning trade - Lots size in relation to your available margin
<= sometimes i do X5 lot size when i feel im correct, i use Plus500 to live trade - Do you average or hedge?
<= no idea about this - Adopting any money management progression?
<=no idea about this