EURUSD 6E Euro - Currency Futures | futures io social day trading
futures io futures trading


EURUSD 6E Euro
Updated: Views / Replies:271,156 / 2,361
Created: by Big Mike Attachments:1,054

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 1,054  
 
Thread Tools Search this Thread
 

EURUSD 6E Euro

  #1671 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,652 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary


trendisyourfriend View Post
You might want to check what Fat Tails suggests for the opening range using the ACD method. It's interesting but i don't really understand why the length of the opening range is different for each instrument maybe some ACD expert can shed some light on this:

https://futures.io/multicharts/21693-acd-indicator.html#post241299

Mark Fisher has kept his little secrets. I do not know either

- why he uses a different opening period for each instrument
- how he determines the number of ticks used for his A and C values

I guess he wants to sell his ACD Daily subscription at $ 525 per quarter.

The Logical Trader: Applying a Method to the Madness

The fact that he sells it does not discredit the method. I do not use this approach.

Reply With Quote
The following 3 users say Thank You to Fat Tails for this post:
 
  #1672 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,652 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary


Surly View Post
Different markets have different trading hours and different "activity periods" (i.e., what hours on Globex they are most active). For instance I trade mainly soybeans (ZS) and I use an IB of 15 minutes. This seems to work best although it may be changing because the CBOT changed the pit hours of of the grain complex a couple months ago. I'm going to start trading the euro so wanted to get some opinions.

For me it comes down to what period of time works best to give one an understanding of what's going on as the market opens up and settles the initial orders that have come into the market.


If you want to trade breakouts, you want to make sure that volatility rises, when you trade them. Volatility can be measured via the average ranges per time unit. Let us first have a look at the average 30-min ranges per weekday. The chart below uses a session template which divides the day into three sections

- Asian Session 5:00 PM Central - 1:00 AM Central
- European Session 1:00 AM Central - 7:20 AM Central
- US Session 7:20 AM Central - 4:00 PM Central

The ranges are the average ranges over the last 20 weeks. For Monday the average 30-min ranges of the last 20 Mondays are plotted, etc.. The red bars shows volatility which is higher than usual. Those are actually the period where it is interesting to trade breakouts.


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



Asian Session: The only time where you may expect a range expansion is Sunday between 5:00 PM and 6:00 PM
Central.
European Session: I have used 8:00 AM CET (Frankfurt) as the Europen open, volatility already picks up considerably (orange bars), but the market only drives at full speed after the London open at 8:00 AM BST (2:00 AM Central), so you could either place your opening range between after the Frankfurt or the London open.
US Session: The selected start of the US session at 7:20 AM Central matches well with the rise in volatility on Mondays, Tuesday, Wednesday and Friday. However, on Thursdays, the volatility picks up one hour earlier,
due to news releases. An experiment with an earlier opening range on Thursday would make sense.

To locate the breakout points for the opening range breakout trades, I use a statistical measure, which I call noise. Noise is the average of the failed moves over the last N days. This is how it is calculated for each of the sessions or the entire trading day:

Move shifting value : The larger of (High - Open) and (Open - Low)
Current session noise : The smaller of (High - Open) and (Open-Low)

The noise bands calculate the average range of those failed moves over the last M and N day. Shown below for the US session.


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

Reply With Quote
The following 9 users say Thank You to Fat Tails for this post:
 
  #1673 (permalink)
Elite Member
Australia
 
Futures Experience: Advanced
Platform: NinjaTrader, Multicharts
Favorite Futures: Spot Forex, Gold, Silver
 
Posts: 176 since Oct 2010
Thanks: 114 given, 114 received



Traderji View Post
How does your strategy account for unprecedented soverign risk in the Eurozone at present? Greek elections on the weekend, spanish yields etc

EDIT: I re-read your post again to see if I could make any sense of it but I am going to call shenanigans on this. First of all the situation in Europe is so volatile, so out of the ordinary, that I don't see how any multi-year cycle could possibly be a valid trade signal at this present time.

Second of all I am looking at the monthly chart for the Euro and I can't see anything like what you are saying. I see a downtrend for the past 5 years with clear Lower Highs and Lower Lows - see chart below. There is big support level coming up at 1.16xx. Surely you are not suggesting that folks keeping buying lows with a potential 1000pip drawdown?

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


Looks like I called it

Astrology : 0
Technical Analysis : 1

Reply With Quote
 
  #1674 (permalink)
Elite Member
denver, colorado
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: ZS
 
Surly's Avatar
 
Posts: 704 since Mar 2011
Thanks: 628 given, 1,242 received

triple top pullback?

Can I get some opinions on this local top at 2340 or so being the high in a triple top pullback (in a daily downtrend)?

I took a longer term swing short in the M6E so I can keep my position small and hold for a few days/weeks. There's a daily trendline that looks like a test of 1.2000 is possible over the next couple weeks if this high is, in fact, a triple top pullback.

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
Attached Thumbnails
EURUSD 6E Euro-6e-09-12-daily-8_24_2011-7_26_2012.jpg   EURUSD 6E Euro-6e-09-12-180-min-7_26_2012.jpg  
Reply With Quote
 
  #1675 (permalink)
Elite Member
denver, colorado
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: ZS
 
Surly's Avatar
 
Posts: 704 since Mar 2011
Thanks: 628 given, 1,242 received


Surly View Post
Can I get some opinions on this local top at 2340 or so being the high in a triple top pullback (in a daily downtrend)?

And make no mistake, I'm just looking for some smart people to tell me I'll make a fortune!

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
Reply With Quote
 
  #1676 (permalink)
Elite Member
Australia
 
Futures Experience: Advanced
Platform: NinjaTrader, Multicharts
Favorite Futures: Spot Forex, Gold, Silver
 
Posts: 176 since Oct 2010
Thanks: 114 given, 114 received


Surly View Post
Can I get some opinions on this local top at 2340 or so being the high in a triple top pullback (in a daily downtrend)?

I took a longer term swing short in the M6E so I can keep my position small and hold for a few days/weeks. There's a daily trendline that looks like a test of 1.2000 is possible over the next couple weeks if this high is, in fact, a triple top pullback.


Definitely a good place for a short trade. I think this rally is floating on air. The fundamentals have not changed. Unless Merkel comes out and says "We agree with the ECB and we'll do whatever it takes to support periphery sovereign debt".

Reply With Quote
 
  #1677 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,223 received

Source: Draghi Boxes Himself Into a Corner With Bond Signal: Euro Credit - Bloomberg


Quoting 
European Central Bank President Mario Draghi may have boxed himself into a corner.

Spanish and Italian bond markets rallied yesterday as investors cheered Draghi’s signal that the ECB is prepared to intervene to reduce soaring yields. Now he has to deliver, or face deep disappointment on financial markets, analysts said. The risk in doing so is alienating key policy makers on the ECB council, such as Bundesbank President Jens Weidmann.

“Draghi is damned if he does and damned if he doesn’t,” said Carsten Brzeski, senior economist at ING Group in Brussels. “He maneuvered himself into an extremely difficult situation. Expectations are very high.”

The ECB is under pressure to lower borrowing costs after three interest-rate cuts since November failed to stop bond yields rising to records in Spain and Italy, threatening the survival of the euro. The Frankfurt-based central bank shelved its bond-purchase program in March amid opposition from council members including Weidmann, and some economists doubt it will be revived any time soon.

“I don’t believe you will see government bond purchases yet,” said Jacques Cailloux, chief European economist at Nomura International Plc in London. “But there are other things they can do that will help, such as lowering the haircut on sovereign bonds they accept as collateral or buying private sector securities.”

Rate Cuts

ECB policy makers next meet on Aug. 2. They cut the benchmark rate to a record low of 0.75 percent this month and took the rate on overnight deposits to zero.

Since then, Spanish debt fell 3.2 percent, the biggest decline after Greece, while French and Austrian bonds delivered the best returns in the euro area. Yields on Spanish securities that mature between two and 30 years rose above the 7 percent level that prompted bailouts for Greece, Ireland and Portugal, before plunging after Draghi’s speech yesterday.

“To the extent that the size of these sovereign premia hamper the functioning of the monetary policy transmission channel, they come within our mandate,” Draghi said in a speech at the Global Investment Conference in London. “Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough.”

Euro Jumps

The euro jumped almost 2 cents against the dollar on the comments and stocks rose. Spain’s 10-year bond yield fell as much as 45 basis points to 6.93 percent, dropping below 7 percent for the first time since July 19. Italy’s 10-year rate declined as much as 41 basis points to 6.03 percent.

“It will be difficult to hold these gains without any actual action,” said Christoph Kind, head of asset allocation at Frankfurt Trust, which manages about $20 billion. “There’s still pressure on the spreads of the peripheral countries and I fear this is only a temporary narrowing.”

The ECB had limited success the last time it waded into the market to help Spain and Italy. As bonds tumbled in an earlier phase of the crisis in August last year, the central bank started buying their bonds for the first time and initially succeeded in stemming the immediate turmoil.

Less than three months later, Spanish and Italian yields were hitting new euro-era records as some governments dragged their feet on pushing through new measures to get their budgets under control.

Three-Year Loans

That forced the ECB to turn to unlimited three-year cash offerings as a tool to fight the crisis and it mothballed the bond-buying policy, called the Securities Markets Program.

Spain’s two-year yield fell to as low as 2.15 percent on March 1 as banks used some of the 1 trillion euros ($1.21 trillion) of three-year cash to buy debt, while Italy’s reached 1.68 percent. It proved a short-lived respite.

On July 24, investors demanded 3.69 percent to lend to Spain for six months. Meanwhile, two-year yields in Austria, Germany, Finland and the Netherlands fell below zero this month.

“We still don’t think policy makers have done enough to make the market sit up and take note,” said Richard Urwin, head of investments at BlackRock Inc.’s Fiduciary Mandate Investment Team in London. That has left bond yields in weaker countries “too high to be sustainable,” he said.

‘Bazooka’

“The ECB appears to be running out of conventional ammunition,” said Marius Daheim, a senior fixed-income strategist at Bayerische Landesbank in Munich. “What is left, however, is the ‘bazooka’,” he said, referring to large-scale interventions in troubled bond markets.

Renewed bond purchases may buy European crisis-fighters time as they face months of political limbo.

With a Dutch election due in two months and a German court decision holding up the start of the permanent bailout fund until at least September, leaders will find it difficult to make decisions on issues such as giving Spain a full bailout or finding more money for Greece.

Still, government bond purchases have seen two German policy makers quit the ECB.

Vocal opponent Axel Weber stepped down as Bundesbank president last year and ECB Chief Economist Juergen Stark retired at the end of 2011. Both complained that the bond program blurred the line between fiscal and monetary policy and relieved pressure on governments to enact reforms.

Bundesbank Stance

“The thing we wonder here is exactly where the Bundesbank stands,” said Julian Callow, chief international economist at Barclays Capital in London. “The Bundesbank has historically been resisting the reactivation of the SMP. In the view of most economists, the ECB is justified in reactivating the SMP.”

Other options may include allowing the region’s bailout fund to borrow from the ECB to buy the bonds of distressed governments. ECB council member Ewald Nowotny said in an interview published July 25 that there are arguments in favor of giving the European Stability Mechanism a banking license.

Draghi has rejected that proposal in the past and didn’t refer to it yesterday.

Either way, “the crisis response looks likely to focus on direct intervention in the government bond market,” said Nick Kounis, head of macro research at ABN Amro in Amsterdam. “We have some doubts about whether the interventions will be of the required scale. It therefore seems likely that the bond purchases will just allow policy makers to muddle through unless much more financial firepower is put on the table.”

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.

Reply With Quote
 
  #1678 (permalink)
Elite Member
Australia
 
Futures Experience: Advanced
Platform: NinjaTrader, Multicharts
Favorite Futures: Spot Forex, Gold, Silver
 
Posts: 176 since Oct 2010
Thanks: 114 given, 114 received

Looks like Merkel and Hollande are backing the ECB. Gravy train has reversed direction. One ticket on the Long train please.

Reply With Quote
The following user says Thank You to Traderji for this post:
 
  #1679 (permalink)
Elite Member
denver, colorado
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: ZS
 
Surly's Avatar
 
Posts: 704 since Mar 2011
Thanks: 628 given, 1,242 received


Surly View Post
I took a longer term swing short in the M6E so I can keep my position small and hold for a few days/weeks. There's a daily trendline that looks like a test of 1.2000 is possible over the next couple weeks if this high is, in fact, a triple top pullback.

I moved my stop to just above 2300 on this trade and was stopped out overnight (in case anyone was curious). My triple top premise is invalidated so now I'm waiting...

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
Reply With Quote
 
  #1680 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,223 received


Latest COT report:

CFTC Commitment of Traders in FX Futures Report

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


Net shorts remain near YTD low.

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.

Reply With Quote
The following 2 users say Thank You to Big Mike for this post:

Reply



futures io > > > > EURUSD 6E Euro

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Trading mini euro ( E7) or micro euro (M6E) currency futures ??? rw48gmx Currency Futures 115 November 14th, 2017 04:58 PM
NinjaTrader tick charts for Scalping the 6E Euro TickTrader Currency Futures 5 October 15th, 2011 10:27 AM
6E (EURUSD) trading alex123 Elite Trading Journals 35 September 17th, 2011 09:15 PM
6E and Euro spot key levels josh Currency Futures 5 July 23rd, 2011 12:25 PM
Big discrepancy 6E/@EU# vs. EURUSD spot Laurus12 Currency Futures 7 June 9th, 2011 09:12 PM


All times are GMT -4. The time now is 06:44 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-13 in 0.17 seconds with 20 queries on phoenix via your IP 54.90.92.204