EUR/USD Beginner Level trading

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@yokoyi - 6 months ago
Quoted - yokoyi

Price is falling towards the support so i am short

I kill the short trade for a small profit as price starts moving in the opposite direction

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@yokoyi - 6 months ago
Quoted - yokoyi

I kill the short trade for a small profit as price starts moving in the opposite direction

Today is memorial day in the United States and its a public holiday, so most US banks will be closed. It may affect liquidity on EUR/USD.

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@yokoyi - 6 months ago

Its past my trading hours so I am done for the day. Made some profit but was not really what i expected. WIll try again tomorrow

K
@karbin - 6 months ago

I was short on the Franky open today. I was fading the overnight range at the high, the SL was small. I've exited it at 1397.

The first chart is the 6H, which is the overnight range or Asian move. I was initially looking to target 87, then 67, but I decided to close it because of the holiday (the Asian trend can carry forward during London).

The second chart is the 10M from Franky open. The high of the Franky open held it, it never broker above it, generally it is sign of a trending session.

If it goes below 1367, it should be a bear day. Break below in the next 30M is really important, otherwise the NY will be opening above it.

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@yokoyi - 6 months ago

Today i am short eurusd

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@yokoyi - 6 months ago
Quoted - yokoyi

Today i am short eurusd

I close the trade to cut losses early

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@yokoyi - 6 months ago
Quoted - yokoyi

I close the trade to cut losses early

They are some option barriers around 380/400 so we may likely see price ranging around there for a while.

K
@karbin - 6 months ago
Quoted - yokoyi

I close the trade to cut losses early

I was long on the Franky open because it opened above 1367, it has still not broken below it. I'm out for around 10 pips, but as long as the Franky low of 1377 holds, it is a buy, but if it breaks below 67, it should be a sell.

There was a Bullish engulfing on the pre at 67, but I did not trade it. I was long on the break of pre's high & the first 5M of Franky open. It was falling back into the Asian range.

I've closed it quickly, because there were levels at 90s (I consider it a transient trade). But I was lucky with exit at the exact high. There is a first bar opposite rule that was triggered on the 15M at 90s.

The attached chart is the 6H, the 1367 low is still holding.

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@yokoyi - 6 months ago

This is a snapshot of the market as at 6 am today. The pink square is the asian session.There are option barriers around 1.13000 level so price may dance around that area for some time. The next option barrier is around 1.14000 so price may later climb up to that level. I am not going to trade till that dance around the 3000 level is over and price makes a proper move with enough momentum

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@karbin - 6 months ago

I've exited my long at around 10. I've some left with stop just below the pre low. I was trading the fake of Asian, till the 1310 high.

There was also a very large options barrier at 1300.

I've exited it before the Franky open, because the first 10M of Franky can be the opposite. It's low of 1304 is holding, so that is good.

K
@karbin - 6 months ago

Yes, it could go higher (who knows), but to hold, I would want good close above 1315 (first 10M high). It is not doing that right now.

I'm already out, so it does not matter to me now. But it is still trading inside this hourly, so it could just range here as well.

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@glo_forex - 6 months ago

went short today at entry point of 1.12891 and tp at 1.12888 and made a profit of 0.03

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@yokoyi - 6 months ago
Quoted - glo_forex

went short today at entry point of 1.12891 and tp at 1.12888 and made a profit of 0.03

Today lets look at the weekly chart for eurusd, price has fallen and is trying to rise again but is being resisted by the 3 week closing price of 1.12537, so price is just ranging around there for now as you can see on the second chart which is a 5 minute timeframed chart

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@yokoyi - 6 months ago

Even when you look at the 1 hour chart you will still see the same thing, with price ranging around same level