Indeed - apart from the excitement in the middle of August, it has basically been ranging between there and 1.1800 since May. Generally better intraday than EOD for that reason, recently, in my view.
Intraday, what, if anything, are you changing in your trading approach to a trade setup? Still just trendlines, S&R, EMAs?
Thanks!
If you think eurusd is going to move below 1.1500, why the interest in 1.1400-1.1390 and not even further south around 1.1345?
Yes, still basically S&R, EMAs and trendlines (which are really just S&R). The biggest change is in the way I exit a trade. In the pre-Brexit market (and, going further back, the pre-Trump market), I’d take EOD trades and then hold them for several days, through weekends sometimes, trailing Stops and maybe scaling in and out. For my Intraday trading, I am far more likely to set a fixed TP and get out automatically. For instance with this trade - I just set a 1:1 TP and let the system take me out with a smile on my face. If I am trading off, say, an Hourly or even 5 minute chart then there will be more noise, more spiking, so want a more focussed, efficient plan. Entering off the Daily in a time when the markets are cleaner, the chart nicely evens out the noise and I can just follow the moves, trailing my Stop each evening until I am taken out. So it’s really just a case of planning my exit in detail for Intraday trading in choppier waters. My underlying approach is the same.
ST
This is how I have been trading, on the daily. Mixed bag, mostly positive gains, using trendlines, MAs, some pattern recognition, RSI, and then a check of the fundamentals, mainly major events listed on the calendar here and FF.
Thanks for this feedback! Excellent!
Very interesting on the fixed TP, which, now that I read it, makes a lot of sense.
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@SimonTemplar Are you factoring any fundamentals into your trades or strictly TA? I’m looking at the daily today, and even if I came into a trade earlier in the week or even last week, I’m stuck as to what to do right now.
Wait for a move either below support (maybe at 1.15) or signs of a reversal? Or nothing at this point. Just trying to get a better sense of when to stay out of the market.
I also keep an eye on this for help looking at other technical levels:
Help much appreciated!
The US dollar continues to surge, pressuring its peers. Let’s see if the NFPs tomorrow strengthen its position in the market.
EUR/USD: I believe that the pair would challenge 1.1550.
The Euro slipped further in the early trading hours of the European session. I’d be looking to go long around 1.14 - 1.1380.
After the short correction last days, EUR/USD is heading to 1.1450.
EUR/USD: Formering a double top on 1.1540, or going to 1.1600?
EUR/USD: After hitting the support at 1.1550, the pair is looking at 1.1650. Probably on Monday.
On the 5 minute chart of the EURUSD we can see a bullish flag formation in the short-term. The price of the EURUSD started falling since the beginning of the session, when it created a death cross pattern, which is when the 55 period EMA (purple line) crosses below the 200 period EMA (blue line). From the low at the 1.1534 level, the price retraces to the upside, to the 55 period EMA, around the 1.1563 level where it forms a bullish flag. A breakout to the upside will take the price to the 200 period EMA at the 1.1576 level. To the downside, in case of going back down, the low at the 1.1534 level could act again as support.
EUR/USD: The support is located at around 1,1530.
There aren’t any significant news this week that can cause a storm in the pair. I’d say we’re looking neutral into the week.
Calm day for EUR/USD. The pair formed a tripple top at 1.1610.
The euro fell against the US dollar on Tuesday. By the close of US trading, EUR / USD was trading at 1.1574, losing 0.05%. I believe that support is now at around 1.1479, the low of last Wednesday, and resistance is likely at the level of 1.1621 - the maximum of yesterday’s trading.
EUR/USD: The pair found support at 1.1440. Next figure to consider is 1.1600.
The euro rose against the US dollar on Friday. By the close of US trading, EUR / USD was trading at 1.1514, adding 0.52%. I believe that support is now at around 1.1433, Friday’s trading low, and resistance is likely at the level of 1.1623, Tuesday’s maximum.
EUR/USD: On Friday the pair rose by 0.52% to 1.1513, recovering from the 1.1433 minimum. The euro received support after Bloomberg reported that British Prime Minister Theresa May was ready to abandon the basic requirement for inspection of cargo on the Irish border. The question of the border with Ireland is one of the main obstacles to the signing of an agreement on Brexit between the EU and the UK.