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EURUSD & GOLD

  • #121
  • Nov 22, 2024 1:19am Nov 22, 2024 1:19am
Quoting Erebus
{quote} Buy when candles are all green?
Correct
  • #122
  • Nov 22, 2024 3:48am Nov 22, 2024 3:48am
Quoting PatienceFx
{quote} Correct
Step 2 - Quit while you are ahead

It takes a lot for me to IGNORE you, but you can try.
  • #123
  • Nov 22, 2024 4:09am Nov 22, 2024 4:09am
Quoting PatienceFx
check panic situation in europe as germany gdp data
Check effect on eurusd
  • #124
  • Nov 22, 2024 7:00am Nov 22, 2024 7:00am
Quoting PatienceFx
{quote} Check effect on eurusd


In the USA, they cannot slow down the economy, and in the EU, they cannot start it.
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  • #125
  • Nov 22, 2024 7:12am Nov 22, 2024 7:12am
Quoting Gelubrin
{quote} In the USA, they cannot slow down the economy, and in the EU, they cannot start it. {image}
cost of LPG because Russia stopped
  • #126
  • Nov 22, 2024 7:19am Nov 22, 2024 7:19am
any PMI below 50 just like RSI is weak data
  • #127
  • Nov 27, 2024 10:45am Nov 27, 2024 10:45am
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  • #128
  • Nov 28, 2024 1:02am Nov 28, 2024 1:02am
Quoting PatienceFx
{image}

The dollar is still strong, a fact confirmed by the weekly economic indicators. Consumption decreased a little, but reached (the Redbook index support line). The Eurusd price will go even lower on D1.
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  • #129
  • Nov 28, 2024 1:43am Nov 28, 2024 1:43am
Quoting Gelubrin
{quote} The dollar is still strong, a fact confirmed by the weekly economic indicators. Consumption decreased a little, but reached (the Redbook index support line). The Eurusd price will go even lower on D1. {image} {image} {image} {image} {image}
What is your summary now how has the fundamental analysis affected your trade
  • #130
  • Nov 28, 2024 2:05am Nov 28, 2024 2:05am
Quoting PatienceFx
{quote} What is your summary now how has the fundamental analysis affected your trade
Fundamental analysis is essential in trading. It helped me a lot not to make wrong decisions and go against the grain. But it is also the most difficult until you understand it. The technical analysis confirms what I already knew from the fundamentals. I frequently posted my opinions about the US economy because you took care of the technical analysis. I hope that the two of us managed to pass on knowledge from which other people can learn.
  • #131
  • Nov 28, 2024 3:08am Nov 28, 2024 3:08am
Quoting Gelubrin
{quote} Fundamental analysis is essential in trading. It helped me a lot not to make wrong decisions and go against the grain. But it is also the most difficult until you understand it. The technical analysis confirms what I already knew from the fundamentals. I frequently posted my opinions about the US economy because you took care of the technical analysis. I hope that the two of us managed to pass on knowledge from which other people can learn.
very good, fundamentals MOVES the price. Technical shows what HAPPENED

what is my fundamental behind this gold trade below
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  • #132
  • Nov 28, 2024 3:24am Nov 28, 2024 3:24am
Quoting PatienceFx
{quote} very good, fundamentals MOVES the price. Technical shows what HAPPENED what is my fundamental behind this gold trade below {image}
Your reasoning is that the dollar will become weak.
  • #133
  • Nov 28, 2024 5:12am Nov 28, 2024 5:12am
Please can someone explain why despite the fair us data released yesterday, price movement did not move in favour of the USD in relation to the Euro or GBP.
  • #134
  • Nov 28, 2024 6:21am Nov 28, 2024 6:21am
Quoting Chima007
Please can someone explain why despite the fair us data released yesterday, price movement did not move in favour of the USD in relation to the Euro or GBP.
GDP preliminary remained at the same level as GDP advance. PCE did not increase. Conversely, Core durable / durable good orders are lower than forecasts; these 2 determined the weakening of the usd, because these economic indicators show future activity. Whole sales inventory has increased, which is bad. Although Personal income increased, Personal spending remained the same; this means that people are preparing for future expenses: Black Friday, gift month, Christmas, New Year's Eve. Another aspect: at the end of the month, traders usually close their positions; check this in the last months on a D1 chart.

See my charts above.
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  • #135
  • Nov 28, 2024 8:48pm Nov 28, 2024 8:48pm
Hey everyone, wanted to share my way of trading that’s been working very well for me for many years.

I’m a scalper and a very reactive trader, what I mean by that is perfectly explained in this XAU/USD trade I’ve taken today.

Today is Thanksgiving, so wasn’t expecting much from the markets but I saw a nice clean setup on gold and decided to take it.

Firstly we were approaching an area of resistance that I’ve had my eye on, and then I saw a large buyers delta push through the resistance and on the depth of market I could see heavy passive sellers absorbing the buyers.

I decided to enter one-quarter of my position.

I do like to break my positions up and not risk my full risk tolerance on one position.

As I saw aggressive sellers come in on the time and sales, I added another quarter of my position.

However, the sellers were quickly met with buy pressure, and the market balanced out.

Since I’m a very reactive trader using order flow, I react to what the market shows me minute by minute.

I could see the sellers were starting to struggle, and not enough aggression was coming through, so I decided to exit my 2 positions in profit for about a 1:1 risk reward.

Annoyingly, the sellers did finally become aggressive again and pushed the market down to my original TP.

However I’m not upset or angry for not holding; I reacted to what I saw at that time.

In this scenario holding would have worked out better but there are countless times where blindly holding a trade despite seeing clear signs the trade may not make it to the TP, has saved me from unnecessary losses.

I always have a fixed stop loss, that not negotiable, but I never have a fixed take profit.

I do start my trades with an area that I’d like to hit, but if I always remain reactive to what the DOM and T&S show me.

Sometimes my trades blast through my original TP and I keep going until I finally exit way more in profit than my original TP.

Other times it’s like this where I exit early because I started losing confidence in the trade.
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  • #136
  • Nov 29, 2024 9:27pm Nov 29, 2024 9:27pm
Quoting Chima007
Please can someone explain why despite the fair us data released yesterday, price movement did not move in favour of the USD in relation to the Euro or GBP.
thanksgiving holiday, us banks closed
  • #137
  • Nov 29, 2024 9:30pm Nov 29, 2024 9:30pm
Quoting EthanRay
Hey everyone, wanted to share my way of trading that’s been working very well for me for many years. I’m a scalper and a very reactive trader, what I mean by that is perfectly explained in this XAU/USD trade I’ve taken today. Today is Thanksgiving, so wasn’t expecting much from the markets but I saw a nice clean setup on gold and decided to take it. Firstly we were approaching an area of resistance that I’ve had my eye on, and then I saw a large buyers delta push through the resistance and on the depth of market I could see heavy passive sellers...
beautiful
  • #138
  • Nov 30, 2024 2:23pm Nov 30, 2024 2:23pm
Weekly Outlook

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Volatile start of the month

The key resistance level is 2674, if breaks 2688. However, downside break of 2636-38 can lead to 2608 / 2586.
  • #139
  • Nov 30, 2024 3:26pm Nov 30, 2024 3:26pm
Quoting Tradersview-
Weekly Outlook {image} Volatile start of the month The key resistance level is 2674, if breaks 2688. However, downside break of 2636-38 can lead to 2608 / 2586.
Ahem ahem
My Friend, these levels and analysis looks copied from the below website.

https://mettisglobal.news/weekly-out...omic-policies
  • #140
  • Dec 1, 2024 1:06am Dec 1, 2024 1:06am
Quoting IndianFX
FF please don't allow this idiot to open another thread. He is already flooding whole forex factory with his crappy posts.
You have nothing to offer and call someone trying to create an impact a fool, you are the biggest fool.

You should come up with your strategy and let's see what you have to offer.

Stop pouring unnecessary insult because it's not compulsory for anyone to follow.
Market Structure is the King.....
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Gelubrin