EURUSD 6E Euro | Currency Futures


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EURUSD 6E Euro

  #1973 (permalink)

Market Wizard
New York, NY
 
Trading Experience: Intermediate
Platform: NinjaTrader8
Broker/Data: Data = Rithmic -- Gives 70 Level II Data
Favorite Futures: 6C (Low Margin,) 6E, CL, GC, ES and Maybe DX for smaller tick value
 
Posts: 1,079 since May 2011
Thanks: 1,479 given, 785 received


lllusion View Post
I'm somewhat new to trading futures currencies but I've been managing myself decently scalping on the 3 min chart while keeping an eye on the DX. I'm wondering, what's the best way to investigate what caused this big spike in demand? I checked forexfactory but there weren't any news events around this time.

What are some things that would typically cause this to happen?


srgtroy View Post
I know a lot of people like to discount keeping an eye on the news and only follow charts, but it definitely helps to know what is going on. It doesn't tell you which way the market is gonna go, but it does sometimes tell you in advance WHEN there could be some big action. By extension, you can also get ideas as to when the market may be dead as its waiting for pending announcements.

I follow quite a few news sources on twitter. Here are three that i think are essential:

Forex News | Currency News by ForexLive -- #1
Forex News, FX Trading, Strategies, & Market Analysis @ DailyFX -- several different analysts, all good.
@djfxtrader -- twitter handle, u need to pay gazillions to get their actual news service but their tweets are free and still very timely!

ForexLive.com is a good place to read about what is happening to the market and what may have moved it quickly. Sometimes they are a little slow in announcing their opinion but at least it gets you an opinion for the short term based on the "news" of the moment.

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