Social Trading EURUSD thread

Corny

Forex College Student
I expect tomorrow's US open to be intense. There was a massive equity sell off last week....and usually those "day after' days are volatile...adding to that that we had a holiday today.
 

Tipofthe

First Forex baby steps!...everyone is so proud!
I expect tomorrow's US open to be intense. There was a massive equity sell off last week....and usually those "day after' days are volatile...adding to that that we had a holiday today.
SO here we go, the start of the European session...let's see if all that bottled up energy gives us some volatility today
 

Kylorean

Serious Forex Trader
The European numbers came out...and it did little to break us out of that 20 pip range:

750

Mixed bag...

Let's indeed wait for the US open....I am also expecting some movement on the session.
 

GreenIsGood

Curious about Forex
US open.....we're now back in the 1.17 region.....it looks like a timid incursion so far....but let's see
the markets seem lethargic this week....zzzzzz.....zzzz.....zzz.....
 

whisquer

Serious Forex Trader
Hello fellow traders...

While our American friends are enjoying their holidays, muggins here (this fool) has been following the EURUSD developments on both the H2 (yes I know, very unorthodox, read more HERE if you want to learn to create your own) and D1 charts below or HERE if you want to see other fools who have tried this H2/D1 approach and lived to tell the tale!

For D1 we can look at the position of ROMAR (white dashed line) vs EMA (red dot-dashed line) for the very long term trend. With ROMAR still supporting EMA from below, the general trend appears still to be on the up BUT.....
Purple having crossed green and smooth (yellow dashed line) has now crossed EMA and the parabolic SAR (yellow dots) have flipped as of 1+ days ago. This indicates that in the near term the tide has turned as we definitely can have a trend (short/medium term) within a trend (longer term).

To affirm this, the H2 can provide an interesting insight into the short-term trend. As we look at the H2 chart below, ROMAR sits well atop EMA and the parabolic SAR is acting as a level of resistance from atop. Meanwhile, the 4 horsemen of the MAs (purple, green, smooth and EMA) are all flowing downstream. The short-term SELL trend appears to be on for now, unless a few other factors start to feature (Purple crossing EMA on the upswing, parabolic SARs flipping again on H2 etc.).

I have fired off a GF grid in the SELL direction in my demo instance just to see if/how I can take advantage of this. Should I double down? In the meantime, I have left my GF BUY grid build its basket and hopefully it does what it does and closes it eventually on retracement. Should I then set it as not to open another trade right after this basket closes?

Those are the questions I am pondering, since I don't know GF well. Happy for any suggestions back! Muggins here hoping to give back a bit of what he's received from this forum.
whisquer


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Kylorean

Serious Forex Trader
I was taking a look at Dollar Index this morning, and I cannot see any indicators telling me anything conclusive as to where we are going from here on in. Both the RSI and CCI on the H4 are in their mid-ranges...I don't see exhaustion...but the push is also absent...at this time that is.
It could be that we have some consolidation trading in a range...interesting for grid traders...little bit less for manual trading...
If we do continue on the long trend however...I would expect it to be on it's last legs. My bias is shifting to the downside after the strong pullback we saw this week.

768
 

Applepine

Forex Apprentice
The contrast with EURUSD is remarkable....so very different dynamics....but you always get the impression they are more closely related...or is it just me :D?
 

Pug you!

Forex Toddler
I was taking a look at Dollar Index this morning, and I cannot see any indicators telling me anything conclusive as to where we are going from here on in. Both the RSI and CCI on the H4 are in their mid-ranges...I don't see exhaustion...but the push is also absent...at this time that is.
It could be that we have some consolidation trading in a range...interesting for grid traders...little bit less for manual trading...
If we do continue on the long trend however...I would expect it to be on it's last legs. My bias is shifting to the downside after the strong pullback we saw this week.

View attachment 768
Yup, and this lack of direction is clearly spilling over to the EURUSD side...
No direction...the trend looks out of steam...
 
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