Daily EUR/USD trades

R

romik

Hi, new to FX will post my daily activity here, hopefully will get bashed :) some quality feedback is most welcome. Feel free to post your trades if you wish, it will be interesting to see the reasoning behind other people's trades. I will be trading Eur/Usd mainly of 15 and 60 minute charts. My main entry will be based upon a presence of failure swing in RSI and divergences in MACD and RSI. I am using a spread betting firm so I am not concerned with commissions (if there are any in FX with other brokers :confused: ).

Currently short 1.2951 with stop 1.2985. Entry based on the failure swing/double top in hourly RSI and a BRD in MACD. Chart will follow.
 
Quote from romik:

Hi, new to FX will post my daily activity here, hopefully will get bashed :) some quality feedback is most welcome. Feel free to post your trades if you wish, it will be interesting to see the reasoning behind other people's trades. I will be trading Eur/Usd mainly of 15 and 60 minute charts. My main entry will be based upon a presence of failure swing in RSI and divergences in MACD and RSI. I am using a spread betting firm so I am not concerned with commissions (if there are any in FX with other brokers :confused: ).

Currently short 1.2951 with stop 1.2985. Entry based on the failure swing/double top in hourly RSI and a BRD in MACD. Chart will follow.
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I am short on eur/usd at 1.29400 looking to get out at 1.29100. this is a week long play.


Other wise i agree with your suggestion that EUR will go to 1.40......this might take a while though.
 
Quote from romik:

Interesting, why 1.40?
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Well, US economy is slowing down.....resulting in probable FED rate cuts. Thats the main reason.

Ofcourse there is more different fundamentals which might impact US dollar. US dollar had beengetting killed for a lon time now....maybe soon enough we will see other side of the trade. Not soon enough.
 
Quote from romik:

Interesting, why 1.40?
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There are many reasons for weakening $.But I relay on info from my friend who works in the Pentagon. So the $ will go down for the next two ears. There are unbelievable changes on the way.
 
Quote from jerry11901:

There are many reasons for weakening $.But I relay on info from my friend who works in the Pentagon. So the $ will go down for the next two ears. There are unbelievable changes on the way.
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For instance.......
 
Quote from romik:

35 pip stop in light of a possible 3 top, looking for at least 5:1 on this trade.
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I have been looking at all time frames and I understand the bullishness in Euro which is still there, I can't ignore 1.2979 still providing resistance on the other hand. We do have a bull flag visible on 15 min chart pretty clear, so I guess my plan of action would be as follows. If price goes down to lower trend line of the flag I will be looking to cover there and possibly reversing position for a long Euro. If I don't get that chance, then I will be looking for a break of 1.2968 to initiate a long position.

It does look like an either way gamble at the moment, to me.
 
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