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 882,549 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

  #1551 (permalink)
 
djkiwi's Avatar
 djkiwi 
Mercer Island WA
 
Experience: Advanced
Platform: Ninjatrader/Strategy Desk
Broker: Various
Trading: TF/NQ/ES/Stocks
Posts: 561 since May 2010
Thanks Given: 981
Thanks Received: 1,558

Hi. Interested in other opinions on this instrument as well. I'm looking at the R3 resistance line (in purple) on the chart and corresponding cumulative delta (R3 in purple on the lower panel) showing a large delta divergence. So the difference between the R3 delta line 8k and current delta -28k is about -38k.



If price starts to spike heavily above the last resistance line and blows through the Low Volume Area (shown in pink) we could see a pretty big pop. The Euro has been in a beautiful trading range and I was going to look at shorts at the pink line back into value for a high risk/reward trade. I don't like this large net short position though and the fact that value is starting to build higher as evidenced by three successively higher POCs and value overlapping higher so I'm not considering shorts right now. Still have a long trade trigger/setup under the value area low which has been adjusted to an upward move of the value area high.

Cheers
DJ

Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
NexusFi Journal Challenge - April 2024
Feedback and Announcements
Exit Strategy
NinjaTrader
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
Deepmoney LLM
Elite Quantitative GenAI/LLM
ZombieSqueeze
Platforms and Indicators
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
37 thanks
NexusFi site changelog and issues/problem reporting
24 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
19 thanks
  #1552 (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: 33,175
Thanks Received: 101,539


peglegtrading View Post
Hey Mike,

Great charts. How is the delta reading the past 24 hours?

It has improved, and I believe we will see a short squeeze rally into Friday close as many exit their position ahead of the vote.



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
  #1553 (permalink)
 researcher247 
Chicago, IL
 
Experience: Advanced
Posts: 437 since Oct 2009
Thanks Given: 289
Thanks Received: 773



researcher247 View Post
--------------
Hola again Traderji,

It is a MONTHLY cycle low and a WEEKLY cycle low (certainly not a quarterly/bi-annual/yearly or multi-yearly cycle). I will write again that I am looking for a multi-month 'stair-step' up rally in 6E. It is my trading view (plan) that the low is in (recent daily swing low on June 2nd).

My 'base'/core position was established from 1.2340 up to 1.2395 (66% of my size). The remainder is avg. price entry of 1.2467 (33% size). My risk:reward on this trade is approximately from 1:3 up to 1:9 Those are sufficient for me in my trading plan.

I use esoteric analysis quite a bit for these 'campaign' trades. It takes work to triangulate a low/high w/in 1 day in what seems like a sea of randomness and uncertainty. I closely follow the teachings of men before me; notably, Myles Wilson Walker, Bradley Cowan, Gann, Lars von Thienen & Jim Hurst {should be obvious by now}.

For precisely this reason I rarely post about my longer-term/mid-term swingtrades. People get a bit emotional. Ahh--that is part of the analysis (hint, hint).

Finally, it is NOT necessary to use my approach to identify swing highs and lows within non-linear cycles. I will be showing @GaryD a simple swingtrading method he can use later this fall that is at least 75%+ accurate using nothing but indicators he has in Ninjatrader; I think he'll be tickled. However, I'll let him write about it here if he wants to--he is kind of a prolific journaler.

Regardless, I have to get back to trading. Thanks for the questions again.

Good trading to you!

'trade what you see'

peace

hedvig

------------
Good ticks accumulating thus far,

If we near 1.28 on Friday or Sunday beginning on the open @/near 5pm est I will then take profits (66%) and wait for another pullback--perhaps quite deep after Sunday night; then yet again move powerfully to the upside beginning after 10am est on Wed. June 20th...

This is how I trade a monthly cycle low; I am in on moderate and deep pullbacks within an established uptrend AFTER I have confirmed the bottom (that is still holding). I am out majority 2/3rd's on impulsive upmoves to NEW highs. Then I work my way back to 100% allocation on said moderate and deep pullbacks.

On a trade that I put on (since I am trading more than 3 contracts) I go in 10 (16.5% of total position)/20 (33% of total position)/10 (16.5% of total position).

5 for the 'moderate' pullback zone I 'expect' will reverse. If I am a bit early I then put on 10 within the deeper pullback. When we have cleared my entry zone that I put 5 on; I add my final 5 on confirmation of the initial trade.

Recall, I have a MONTHLY cycle low for 6E (which means it has until the end of the month to confirm); it could continue up to 1.28'ish' and then have a volatile Sunday night through Tuesday {shaking out smaller retail players} then stabilize througout the rest of June, building strength for a MULTI-MONTH advance off of the Monthly Cycle Low.

That is how trading a 'monthly' cycle high/low works. Same with Weekly & Daily respectively (it is all fractal).

I look forward to the next 10 market days of volatility; the planets have built up some torque: time to release the hounds!!

peace

hedvig

Reply With Quote
Thanked by:
  #1554 (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: 33,175
Thanks Received: 101,539

@researcher247, while I can't get behind the astrology, I do appreciate you sharing information on targets, risk management, and long term views.

Sunday should be interesting. I am flat.

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
  #1555 (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: 33,175
Thanks Received: 101,539

Received an email from MBT this evening. Similar to the one from Oanda a couple days ago.


Quoting 
All eyes are on the Greek elections this Sunday and volatility is expected to be high in the currency markets. The volatility will not be isolated to the Euro but potentially all currency pairs as Central Banks around the globe are standing by to take action, if necessary. The volatility could trigger stop orders and could result in larger than normal spreads. We recommend you review your open orders and currency positions and adjust them accordingly.

VOLATILITY IS EXPECTED TO BE EXTREMELY HIGH AND PAIRS COULD GAP TO EXTREME LEVELS PRIOR TO THE MARKET OPEN, AFTER 5 PM EASTERN TIME, ON SUNDAY. GOING INTO SUNDAY WITH POSITIONS CONSTITUTES A HIGHER DEGREE OF RISK AND YOU SHOULD ENSURE ADEQUATE FUNDS IN YOUR ACCOUNT TO PREVENT A MARGIN RISK LIQUIDATION OR TO PREVENT YOUR ACCOUNT FROM GOING NEGATIVE.

Best regards,


MB Trading Futures

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:
  #1556 (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: 33,175
Thanks Received: 101,539

Do you agree?


Bloomberg Video


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
  #1557 (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: 33,175
Thanks Received: 101,539

Question of the day:

Is the Greece Sunday vote already priced in? (negative reaction)

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
  #1558 (permalink)
 
Fat Tails's Avatar
 Fat Tails 
Berlin, Europe
Market Wizard
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,102

Short look at the 6E chart:

Yesterday was a consolidation day, as the Euro tested the territory gained on Wednesday. During the European session it stuck to value, during the US session it moved up to the first resistance area.

Today the pivot range (blue range) is narrow indicating that there is a potential for a large move. However, with the election being scheduled for Sunday, that large move is probably due on Monday, not today. Today's picture is bullish:

this morning the EURUSD tested the area between support and resistance. As the chart shows all potential S/R lines well aligned, so S/R was easy to locate

Resistance:

-> Fibonacci Confluence line (blue)
-> Auction Range
-> 1st Jackson Zone resistance band
-> yesterday's high

Support:

-> Fibonacci Confluence line (red)
-> pivot range (ETH)
-> yesterday's VWAP (orange)
-> yesterday's settlement (yellow)



Reply With Quote
Thanked by:
  #1559 (permalink)
Ali Huzaifa
Mumbai+India
 
Posts: 35 since May 2012
Thanks Given: 5
Thanks Received: 12

ok last trade of this week, long @ 1.2612 tp 1.2786 sl 1.2500

byeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee eeeeeeeeeeeeeeeeeee

Reply With Quote
  #1560 (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 took a short last night off the VWAP/POC covered in the "teens," it was a nice trade, took little heat but it was SLOW and boring.

I jumped on this long this morning at the PIVOT, added at the -2SD level, had another order 2 ticks lower but didn't get filled. Sold approaching the VWAP. I'm done, but I'll probably be sitting here Sunday afternoon.

Have a great weekend guys, and forget about the Mighty Euro for a couple days.





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