Hello All,
I was wondering if anyone could shed some insight as to why the EUR/USD Fell over 100 points today so far? I don’t understand what caused this huge drop? I know there is some type of fundamental analysis I am missing but I am not sure what it is.
Thank you.
-Altrez
Let’s all say it together…Flight to Quality. 
The markets are using what’s happening in Egypt as a justification for piling into safe assets (Treasuries, gold) and out of anything risky (stocks) as well as to drive oil up on supply concerns.
Fundamental news is just white noise to me. I’m a rational trader I believe the fundamentals is already baked into the price. This pair is in AB=CD pattern on the weekly chart and bearish three drive pattern on the 4hr.
It eventually bounced off the 61.8 retracement you can see on the daily chart, nothing to do with fundamentals!
I see well perhaps my charting skills are not on par with everyone else. I do not understand “AB=CD”
i don’t see it and that I believe is my issue having got spanked today with that pair and I am having a hard time figuring out what I am doing wrong.
Than you for the input! I am not sure I understand but thank you.
Thank you guys for the help. I am only a year into the Forex market and have much to learn. I did not see anything in the charts that made me believe it would drop out like this.
I went all the way through school located here and have read a lot of books but I am still missing %84 of the time. I was trading the EUR/USD long and was up 60 pips.
What pattern did I miss in the chart? I only trade from the 30 min to the Day.
Thank you.
You need to do multi-time frame analysis mate!
Here’s a perfect bearish three drive pattern on the 4hr.
Most day-to-day news is definitely white noise, but even “rational” traders accept that current price does not account (at least fully) for surprise events.
Thank you for the post. I am using MT4 and perhaps I should brush up more on my chart patterns. I can see from your post that indeed a pattern is forming.
Thank you.
:eek::eek:
Sell stop hunting below PWH with offers @1.3645 & 1.3680 as protection.
EURUSD closed above 1.3600. So, it is safe to assume there will be another go @1.3700 option barrier coming monday.
As traders we always have to expect the unexpected.
LMAO!!!
That’s what I’m sayin’ too!
That is ENTIRELY too much to think about…
My EU chart is much simpler then forexhood’s but it showed me an good place to short the pair.
I follow the news, but as retail traders we are at a disadvantage when it comes to trying to trade it. We do not have the information flow that the big boys have. Things happen fast. If you want to trade based on fundamental info I would not look at a chart shorter then a day. Our best bet to trade FX on an intra day time frame is with price action. If you want to trade the reaction of a scheduled news event thats different and there are a ton of strats to do that most are quite risky. I will do this sometimes. This market is unpredictable thats what stops and money management are for.
Don’t call me a flatliner I still have some squiggles on the chart. 
This is an EU daily chart with some SR “zones” the 3 pairs of black lines. When PA gets to the zone I open a reversal trade with a stop at the other side of the zone. If PA crosses the zone and takes out the stop I aim for the next zone. That is about as simple as it gets.
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A bit much for me to :rolleyes:
“forex charts on drugs” for some really good ones!
C’mon my chart is not that messy lol.
I guess not.
It just looks like someone spilled their “Pick Up Stix” game on a map of Montana…
Of course I’m coming from the perspective of someone who uses a rather unadorned chart…
Here’s what I’m usually looking at.
I do my analysis on two charts! A clean and messy one!
