NexusFi: Find Your Edge


Home Menu

 





EURUSD M6E/6E Euro


Discussion in Currencies

Updated
      Top Posters
    1. looks_one Big Mike with 402 posts (490 thanks)
    2. looks_two Cashish with 192 posts (162 thanks)
    3. looks_3 terratec with 117 posts (213 thanks)
    4. looks_4 rassi with 113 posts (110 thanks)
      Best Posters
    1. looks_one glennts with 1.9 thanks per post
    2. looks_two terratec with 1.8 thanks per post
    3. looks_3 Big Mike with 1.2 thanks per post
    4. looks_4 Cashish with 0.8 thanks per post
    1. trending_up 884,049 views
    2. thumb_up 3,050 thanks given
    3. group 204 followers
    1. forum 2,612 posts
    2. attach_file 1,255 attachments




 
Search this Thread

EURUSD M6E/6E Euro

  #1361 (permalink)
 
websouth's Avatar
 websouth 
Perdido Beach, AL
Market Wizard
 
Experience: Intermediate
Platform: graph paper
Trading: The shiny stuff
Posts: 1,209 since Jul 2009
Thanks Given: 1,116
Thanks Received: 1,335

stop below .2490 and I think you got it for a nice ride up...


“Be who you are and say what you feel because those who mind don't matter and those who matter don't mind.” - Dr. Seuss
Visit my NexusFi Trade Journal Reply With Quote

Can you help answer these questions
from other members on NexusFi?
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
NexusFi Journal Challenge - April 2024
Feedback and Announcements
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
Are there any eval firms that allow you to sink to your …
Traders Hideout
Ninja Mobile Trader VPS (ninjamobiletrader.com)
Trading Reviews and Vendors
 
  #1362 (permalink)
 
monpere's Avatar
 monpere 
Bala, PA, USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus, IB
Trading: SPY, Oil, Euro
Posts: 1,854 since Jul 2010
Thanks Given: 300
Thanks Received: 3,371

@Big Mike,

Is that volume profile on some of your Forex charts? Where is the volume data coming from?

Reply With Quote
  #1363 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,399 since Jun 2009
Thanks Given: 33,177
Thanks Received: 101,541



monpere View Post
@Big Mike,

Is that volume profile on some of your Forex charts? Where is the volume data coming from?

Yes it is VP. Am trading futures, so of course there is volume.

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #1364 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,399 since Jun 2009
Thanks Given: 33,177
Thanks Received: 101,541


websouth View Post
stop below .2490 and I think you got it for a nice ride up...

Yes, am targeting 2630-2650 for starters.

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #1365 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,399 since Jun 2009
Thanks Given: 33,177
Thanks Received: 101,541

Updated chart.



Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #1366 (permalink)
Gvninvest
Los Angeles/USA
 
Posts: 1 since May 2012
Thanks Given: 0
Thanks Received: 0

dear mike,
1.249 means are we going to down?

Reply With Quote
  #1367 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,399 since Jun 2009
Thanks Given: 33,177
Thanks Received: 101,541


Gvninvest View Post
dear mike,
1.249 means are we going to down?

If you are asking, if we breakdown below 2490, do I think we will move lower? I guess the answer is yes. My stops are a little bit outside 2490. But if 2490 is broken, there is a big gap of support until 2384 on my charts at least.

I took the long simply because it was good R/R in my opinion. Everyone thinks we should move lower. Price was near day low, week low, month low, year low. It was good r/r to go long with small stop. If we do start to move higher, there is sure to be a good squeeze.

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #1368 (permalink)
Ali Huzaifa
Mumbai+India
 
Posts: 35 since May 2012
Thanks Given: 5
Thanks Received: 12


Big Mike View Post
I am long 2516 with small stop, big target.

If we start to move up I believe there will be a nice squeeze.

But, risk off weekend, so who knows. I am betting long.

Mike


damn thing is still showing some room for bears

Reply With Quote
  #1369 (permalink)
 
trendisyourfriend's Avatar
 trendisyourfriend 
Quebec Canada
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/CQG
Trading: ES, NQ, YM
Frequency: Daily
Duration: Minutes
Posts: 4,527 since Oct 2009
Thanks Given: 4,171
Thanks Received: 6,018


Big Mike View Post
If you are asking, if we breakdown below 2490, do I think we will move lower? I guess the answer is yes. My stops are a little bit outside 2490. But if 2490 is broken, there is a big gap of support until 2384 on my charts at least.

I took the long simply because it was good R/R in my opinion. Everyone thinks we should move lower. Price was near day low, week low, month low, year low. It was good r/r to go long with small stop. If we do start to move higher, there is sure to be a good squeeze
.

Mike

Your profile chart seems to indicate some dental work could be done between the last two POCs. I got this pertinent commentary this morning regarding the EUR in line with your analysis:

EURUSD – yesterday’s sharp move above 1.2600 did indeed find some selling interest after the single currency once again made a marginal new 22 month low at 1.2515. As long as we can close the week below the 1.2600 level the move towards the 2010 post first Greek bailout lows at 1.1880 remains on the cards.

Any rebound, short squeeze, whatever you want to call it needs to be contained by the highs this week at 1.2820/30, though yesterday’s highs at 1.2620 should also provide a decent top. With the outlook even more bearish the concern remains that we could see a short squeeze on a break above 1.2820 towards the 1.2950/60 level.

Reply With Quote
Thanked by:
  #1370 (permalink)
 
Cashish's Avatar
 Cashish 
Miami FL USA
 
Experience: Advanced
Platform: Ensign 10, NT7 DOM
Broker: IB, IQ
Trading: Currency Futures
Posts: 802 since May 2011
Thanks Given: 811
Thanks Received: 2,102


I don't have a dog in this fight, but like a good attorney, I could make a case for either direction.

This first chart is a VP of the last 2 days, with today's price movement and VWAP. To go up the market would have to trade through the VWAP. That spike, and this tight range ain't looking conducive for that to happen IMO. Also price action is building around the LVA of the two day profile, and hasn't shown the, "Chutzpah" to enter the value area. Maybe, it's because the overnight session traded across all of yesterday's value area twice.



This is another view of the same VP only separated into yesterday and today. That tail may also be a test of the LVA of yesterday. Another consideration is the top of today's profile, it stopped dead at the lower level of that low volume area between 1.2605 to 1.2623 (forfeiting the short squeeze?). IMO, if price stays on this slippery slope of the upper chart, below 1.2534 to 1.2543 (VWAP) much longer, the bears will close this session for the weekend. Either way, hang on tight to your saddle horn, Tex.



And here's a chart for the argument of an up move, it's a three day profile with today' price action. This tight range of the last few hours has built a pretty nice area of volume trading here between the -1 and -2 SD levels. Could provide support for bulls, but if that -2 SD level gives way or continues to drift lower all afternoon. A slice and dice through the VWAP and the 1.2550/55 (pivot) would surely help in blazing a trail to the top of the range (stranger things have happened). Or, the traders have left the building , and I should just go home for the long weekend. Have a great weekend, guys.


Visit my NexusFi Trade Journal Reply With Quote
Thanked by:




Last Updated on January 27, 2024


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts