My EURUSD Trade Sentiments

Trading Discussion
62

I’ve enjoyed our discussions and contributions on the forum. I’ve noticed that the focus here sometimes leans more towards casual conversations rather than in-depth discussions on trading strategies. I’m curious about your perspective: do you think the forum members are more interested in socializing and sharing experiences, or do you see a community eager to delve into more serious and comprehensive trading strategies?

I’m keen on engaging in more detailed discussions if there’s interest, and I’d love to hear your thoughts on this.”

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63

I have not looked at the EU chart since the week began. I want to avoid trading as much as I can till I’m through with the project that currently occupies my time. This is why I haven’t made any update regarding my sentiments on the pair. I will make a point to always check for your posts so as to avoid delayed replies of which I’m twice guilty. My apologies…again.

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64

I started another thread but I have been concentrating on the GBP/USD. I just took a very good trade short. Check it out. I will keep posting here too, I just didn’t want to dominate your thread.

J

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Thank you. That makes the both of us. Your posts are especially enlightening as it makes me view the markets in a different angle. I learn even more than that.

I think forum members are inclined towards any discussion that is related to trading. Of course, there are topics that are not trading-related. There are tons of threads dealing with strategies as there are threads for discussion. I will participate in any if they make room for it.

I am always up for more detailed discussions. Threads like that help new members by giving them experience and the tools to build their trading systems.

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66

I am glad to hear it. I haven’t found too many friendly faces here yet. It seems trading Ma crosses and standing on your head when there is a full moon are trading strategies. I don’t want to be a snob but I would like people to take what I am putting out there seriously. I don’t know, maybe I shouldn’t worry about it.

Here is my thread:

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67

Wonderful. I will be contributing in your thread as I do here. Congrats on catching pips in your net. You are welcome to dominate the thread at will. Feel very free. At the heart of it, we are all sharing our knowledge with the community.

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68

Hahahaha. Am sorry but your reference to astrology got me in stitches. MA crossing is simple and objective. There are masters of the art. This is a popular launchbpad for new traders into the world of forex trading. The details, however, for the trade, if relying solely on the crossings, are missing so I get your point here.

Indeed, what anyone writes should weigh more than mere opinions. It should be considered serious by the readers as something that can complement their knowledge of trading.

69

I know there are a million ways to do it and I don’t want to be a snob, but maybe I am. I have never known in all my years anyone who simply used a Ma cross and was successful. Let’s say I never knew anyone who exclusively used that type of trade. If it were that easy, I would have retired years ago. I use crosses and crosses on the MACD but not without so many other factors. Anyway, to each their own.

J

70

I thought I would put my analysis up. No need for charts. I don’t trade right before or during Non-Farm Payroll.

Technical Analysis for EUR/USD (Without NFP Considerations)

Chart 1: EUR/USD 15-Minute Chart

  1. Trend Analysis:

• The price is oscillating around the moving averages, indicating a potential range-bound market.

• The 21 and 50-period moving averages are close to the price, suggesting a lack of clear direction in the short term.

  1. Indicators:

• ATR: Indicates low volatility, suggesting limited price movement.

• RSI: Around the midpoint, indicating no extreme conditions.

• MACD: The MACD line is close to the signal line, indicating a lack of momentum.

Chart 2: EUR/USD 4-Hour Chart

  1. Trend Analysis:

• The price has recently crossed below the 200-period moving average, indicating a potential bearish trend.

• The 21 and 50-period moving averages are also sloping downward, supporting the bearish sentiment.

  1. Indicators:

• ATR: Moderate volatility.

• RSI: Slightly below the midpoint, indicating a bearish bias but not in oversold territory.

• MACD: Bearish momentum with the MACD line below the signal line.

Chart 3: EUR/USD Daily Chart

  1. Trend Analysis:

• The price is below the 21, 50, and 200-period moving averages, indicating a bearish trend.

• The overall trend is bearish with lower highs and lower lows.

  1. Indicators:

• ATR: Indicates moderate volatility.

• RSI: Around the midpoint, not indicating extreme conditions.

• MACD: Bearish momentum as the MACD line is below the signal line.

Potential Trading Strategies

Scenario 1: Range-Bound Trading (15-Minute Chart)

  1. Identification:

• The price is oscillating around moving averages, indicating a range-bound market.

  1. Strategy:

• Trade within the range by buying at support and selling at resistance.

• Support: Around 1.0920

• Resistance: Around 1.0950

  1. Entry:

• Long: Enter at or near support (1.0920) with confirmation (e.g., bullish candlestick pattern).

• Short: Enter at or near resistance (1.0950) with confirmation (e.g., bearish candlestick pattern).

  1. Stop Loss:

• Place stop loss just below support for long positions and just above resistance for short positions.

  1. Take Profit:

• Target the opposite end of the range (1.0950 for longs, 1.0920 for shorts).

Scenario 2: Bearish Continuation (4-Hour Chart)

  1. Identification:

• The price has crossed below the 200-period moving average, indicating a potential bearish trend continuation.

  1. Strategy:

• Look for opportunities to short on pullbacks to resistance levels.

• Resistance: Around 1.0950

  1. Entry:

• Short: Enter on a pullback to the 1.0950 resistance level with confirmation (e.g., bearish candlestick pattern, MACD crossover).

  1. Stop Loss:

• Place stop loss above the recent high or the 200-period moving average.

  1. Take Profit:

• Target the next support level (e.g., 1.0880).

Scenario 3: Bearish Continuation (Daily Chart)

  1. Identification:

• The price is below the 21, 50, and 200-period moving averages, indicating a bearish trend.

  1. Strategy:

• Look for opportunities to short on pullbacks to resistance levels.

• Resistance: Around 1.1000

  1. Entry:

• Short: Enter on a pullback to the 1.1000 resistance level with confirmation (e.g., bearish candlestick pattern, MACD crossover).

  1. Stop Loss:

• Place stop loss above the recent high or the 50-period moving average.

  1. Take Profit:

• Target the next support level (e.g., 1.0880 or lower).

Final Notes

• Risk Management: Ensure each trade has a favorable risk-reward ratio (e.g., 2:1 or 3:1).

• Patience: Wait for confirmed signals and avoid impulsive trades.

• Review: Post-trade analysis to refine strategies for future trades.

71

It’s been sometime since I updated the thread on my Eurusd sentiment. This is partly because I have decided to diversify my interests rather than stick to a pair. When I do decide to trade the Fiber or have anything of interest to share I shall update the thread. An example is Audusd which is currently bearish. I expect further move southward until sentiment for the pair changes.

72

Although AU has dropped further since I wrote my sentiment for it, about 85+ pips, I am really not fully happy. I let my emotions cheat me out of a very nice position at the top last week and it seems the month of October will be bearish for the pair (if current sentiment is maintained). Nevertheless, I will take a win any day.