EURUSD 6E Euro | Currency Futures


futures.io - futures trading strategies, market news, trading charts and platforms


Currency Futures


This subforum allows you to find traders that trade Currency Futures. You may post about anything to do with trading currency futures in this section




 

EURUSD 6E Euro

  #956 (permalink)

Site Administrator
Manta, Ecuador
 
Trading Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 47,646 since Jun 2009
Thanks: 30,377 given, 89,978 received

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


If you look at the daily, we've just ever so slightly peeked above the prior resistance level. If this truly becomes support, we should trade into the 3500 area. If this proves to just be a failed breakout attempt, I would expect a return back to 3000's, where we will once again see if that support holds or breaks. If breaks, then down to 2700 is a possibility.

So a long right here would need a wide stop in my opinion, as price could very easily fall back into the range of the last few days and trade near 3000 before once again exiting that sideways accumulation and moving higher.

A short would be better served until we move down a bit back below 3200. Depending on how well 3200 is supported or not, I would see a short working down to the 3100 or 3025 area or so, which is basically the consolidation range of the last several days.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member (see why)

Follow me on Twitter Visit my Facebook Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to Big Mike for this post: