Get started

Eurusdtradeidea

EURUSD Trade IdeaThis is a simple yet effective strategy that offers great risk to reward ratios and a good strike rate. The RSI is heavily oversold so I am looking for a buy signal and an inverted hammer has been completed. This is enough reason for me to enter the trade... # RSI oversold so looking to buy # Buy signal printed (inverted hammer) I have bought at market price 1.11358 # Stop loss below the buy signal at 1.11129 and # Take profit at the next resistance level @ 1.11912 As usual don't bet the farm, good risk management won't kill you but the lack thereof could :) Follow me in Forex Bootcamp using the Telegram link below for real time updates
Long
by Cmasterza
1
SELL: Why Technical Indicators don't work in forex trading Technical indicators are very sexy for new traders and even majority of professional traders but i will take a moment to tell you why they don't work most of the time. Also Scammers who want you to believe that somehow this indicators and systems created from them are magic bullets . The truth is they are not and that's why 90% of all retail traders blow up at least 3 trading accounts before they start to figure it out Technical indicators - Use past data to calculate the required values or prices - they do not forcast or predict any future values or prices - Most of the indicators were originally used in Stocks and slowly migrated in FOREX but forex in a very volatile class of asset and is traded 24x7 on Banks network and 24x5 on Retail ECNs. - Systems like Elliot Wave System, Pivots , GAN, etc are great but they are totally and completely useless when it comes to Forex. - Indicators should act as sign of what might happen but not what is going to happen. - Remember that the " PAST is not a guarantee to the FUTURE ". Technical indicators look at the PAST and try to guarantee or guess the future that's where the problem starts . Over 92% of all major forex trading by the "BIG BOYS WITH BIG PANTS " is done using Complex Algorithms and some using Artificial Intelligence. Technical indicators are completely useless in this regards. Lots of DATA and Complex AI Mathematics is the KING. This new breed of Complex AI algorithms does not have emotions or anything to worry about but execute trades as per the AI or complex mathematical Algorithms and forcast or predict with precise accuracy ( 60% to 98%) the future price or trends. They do this over and over and over. Whether the price shoots up or sideways or down , it does not matter, they consistently make some profits. Your technical indicators are completely garbage at this and will not help you to trade profitably. If anyone wants to make any profits consistently start learning something to do with trading mathematics and AI by yourself. Avoid Scammers who say they have systems and are profitable. TRUTH: No one and i mean No one will ever sell you an AI trading system or any trading system that actually makes money for them . Stop dreaming or being suckered into some of the posts here from SCAMMERS who want to make you believe that somehow you will make money by following their system or any system for that matter. " NOPE YOU WON'T " -- Learn and understand how to trade yourself first and add some mathematics and AI to it and then just keep learning . All this is free online do not buy any garbage courses or software you see being advertised online mostly by scammers. My Trade SELL: Entry: 1.1576 to 1.1608 Exits : anywhere below 1.1550
Short
by developeralgo222
1
EURUSD - Next Long Term Impulse (is coming soon)Hi guys, You've probably been enjoying the EURUSD ranged market over the past week or so, but wondering where it will go next. If you remember, we had something very similar back in May. The sideways consolidation ended with a large impulse to the upside (bullish). If you look at figure #1 and #2; we are in the same type of consolidation pattern now. If the same results plays out, we will get a strong impulse to the upside (bullish) after the consolidation period is over. Daily up trending support is still holding. This suggests higher prices 'until' support fails. I would like to see a 'clean' break above 1.1280 before I open another long term position. Until then, I'll keep playing the channel with tight stops above resistance and below support. NOTE: This is not trade advice, just my opinion(s). Please trade safe and keep an eye on news.
Long
by riffster21
EURUSD - T Rex PatternI closed my EURUSD. My sell signal generated very little profit. The pair dropped a little, but mostly sideways. The EURUSD seems to be winding down to the bottom of the flag (i.e. my T Rex). It's a downward flag, but the swing trend is fairly bullish. Another patience game. I have alarms set for support and resistance. I'll wait and see which way it breaks out, then trade accordingly. I would like to see this pair break through support, but only time will tell. If it breaks resistance, then I'll ride the bull run for a few pips. Waiting...
by riffster21
EURUSD SHORTEURUSD is expected to sink now. There are many reason why we feel it may sink. * Bearish Engulfing in WEEKLY Chart . * To sink and come near 1.0898 levels * Stoch RSI (3,3,14,Close) clearly states it may sink. * RSI (14,CLOSE) May not be of the same view. * CCI (20,CLOSE) may not be of the same view. Keeping in view the chart pattern we expect it to sink. Our sell call shall be from sell bellow:1.0946 SL@1.0966 Tgt 01: 1.0898, Tgt 02:1.0875, Tgt 03:1.0806 . We are expecting this to happen shortly. Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
Short
by ajithchand-bhandaari