Euro Forex Pro weekly 02-06 August, 2010
- Thread starter Sive Morten
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TraderJoe99
Recruit
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Sunday night/Monday if that is the top to sell? Seems like a lot of bears are waiting for that.
habrys
Private, 1st Class
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There are 3 platforms. Two Java based: one for "manual trading" and one for "automated trading". You can use EAs, custom indicators etc. in the latter, but in Dukascopy's own language (Java with theirs API in fact). Works well. There is even conversion tool from MT4, but sometimes it doesn't work well. You can find some natively written EAs, but far fewer, than for MT4 of course.
I use the Java "automated trading" platform, to trade manually
I like the interface best.Third platform is web-based. I didn't use that one, so don't know how good it is. And MT4 platform is in beta - not finished yet.
Oh, there is also very good&sweet little platform for iPhone. I used it on many occasions to monitor, close or partially close my positions, move SLs etc. when I couldn't sit at my computer. There are even charts, news, pivot points, reports, etc. there. Definitely recommended. But nothing beats 26" monitor when it comes to real trading of course. Or two even
You can trade as low as 1k of currency unit (microlot), no matter how big your account is.
Sive Morten
Special Consultant to the FPA
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EUR/USD Daily Update, Fri 06, August
Good morning, everybody
Yesterday was very sloppy price action. 1-hour H&S has turned to triangle consolidation during ECB minutes. But there are two moments that help me form my expectation on NFP release today.
First of all, look at the daily chart. During previous month we do not see any meaningful retracement lower. It means that bulls are in charge and they will protect their profit by tighting stops or closing the positions around NFP release. It means that there is need just a small push down for these stops will be triggered.
Second, Yesterdays was another MACD trend shifting failure. It means that the highs could be cleared out. I can't tell right now how it will be. In fact, nobody knows. Will it be a continuation of up move, or will it be just W&R...
I prefer W&R.
Anyway, due to all these stuff, my prefferable scenario as follows:
Look at 1hour chart. There is a triangle consolidation. I prefer to see upper breakout failure of triangle because of daily MACD trend shifting, so, the stops above the market will be cleared out. And move below the lower border of the triangle, i.e. 1.3150. This may be will be enough to trigger tight bullish stops.
So, I will be wait for this triangle upper break. Then I'll watch - will it be failure break or not. If it will be failure - I will be looking for enter short posibility below 1.3150.
Good luck, everybody. And be carefull today.
Good morning, everybody
Yesterday was very sloppy price action. 1-hour H&S has turned to triangle consolidation during ECB minutes. But there are two moments that help me form my expectation on NFP release today.
First of all, look at the daily chart. During previous month we do not see any meaningful retracement lower. It means that bulls are in charge and they will protect their profit by tighting stops or closing the positions around NFP release. It means that there is need just a small push down for these stops will be triggered.
Second, Yesterdays was another MACD trend shifting failure. It means that the highs could be cleared out. I can't tell right now how it will be. In fact, nobody knows. Will it be a continuation of up move, or will it be just W&R...
I prefer W&R.
Anyway, due to all these stuff, my prefferable scenario as follows:
Look at 1hour chart. There is a triangle consolidation. I prefer to see upper breakout failure of triangle because of daily MACD trend shifting, so, the stops above the market will be cleared out. And move below the lower border of the triangle, i.e. 1.3150. This may be will be enough to trigger tight bullish stops.
So, I will be wait for this triangle upper break. Then I'll watch - will it be failure break or not. If it will be failure - I will be looking for enter short posibility below 1.3150.
Good luck, everybody. And be carefull today.
Attachments
SNW-->!!!
Hi Habrys,
Thanks for sharing, just wanna ask you, it seems like you did subscribed to SNW and used it. so if dukas.. not well suitable for SNW then what broker currently you're using with SNW? MBtrading?
hows you're experience using SNW? Still worthwhile subscribing it? Hope hear from you.
Thanks in advance
There are 3 platforms. Two Java based: one for "manual trading" and one for "automated trading". You can use EAs, custom indicators etc. in the latter, but in Dukascopy's own language (Java with theirs API in fact). Works well. There is even conversion tool from MT4, but sometimes it doesn't work well. You can find some natively written EAs, but far fewer, than for MT4 of course.
I use the Java "automated trading" platform, to trade manually
Third platform is web-based. I didn't use that one, so don't know how good it is. And MT4 platform is in beta - not finished yet.
Oh, there is also very good&sweet little platform for iPhone. I used it on many occasions to monitor, close or partially close my positions, move SLs etc. when I couldn't sit at my computer. There are even charts, news, pivot points, reports, etc. there. Definitely recommended. But nothing beats 26" monitor when it comes to real trading of course. Or two even
You can trade as low as 1k of currency unit (microlot), no matter how big your account is.
Hi Habrys,
Thanks for sharing, just wanna ask you, it seems like you did subscribed to SNW and used it. so if dukas.. not well suitable for SNW then what broker currently you're using with SNW? MBtrading?
hows you're experience using SNW? Still worthwhile subscribing it? Hope hear from you.
Thanks in advance
Friends, we should ask ourselves "what is our context (hi Sive) for that trade?". Do we have enough reason to belive that EUR will fall down. Latest news from Greece is good, Trichet's mood was positive, there are mixed data from US, both good and bad. NFP seems to be better than expected and it is not a game changer like months ago.
So, are we looking for a clue to validate our prediction? I see 3 MACD failures on hourly chart yesterday on downside. May be we should wait for the next weekly confluence at 1,3450-1,3500 and wait for much more bad story to develop to change the context.
So, are we looking for a clue to validate our prediction? I see 3 MACD failures on hourly chart yesterday on downside. May be we should wait for the next weekly confluence at 1,3450-1,3500 and wait for much more bad story to develop to change the context.
Last edited:
Sive Morten
Special Consultant to the FPA
- Messages
- 18,648
Hi, Sentinel
Just look for price action at NFP release, ok? We do not need slice and dice game. If you'll see failure break i.e. W&R of highs and market will fall below 1.3150 - time to think about enter short.
If not and it just run and run - then possibly you're right - 1.35 is our next resistance.
It simple. Patient is a gold.
Hi guys,
Yeah man, patient is the key. I have been sleeping a lot today while waiting lol. I have finally woke up I think I shouldn't sleep anymore if not I might miss the NFP hah.
I agree with sentinel about EUR. I have been watching bloomberg yesterday and a lot of good news especially greece with their no limit bailout for banks; I believe I heard. I hope NFP is good than we can have a nice movement down for EUR. But looking at the past several news releases it seems to come out near the expectation for EUR and US. So I am also looking at a possible small movement at NFP.
2hrs more to go. Good luck.
Yeah man, patient is the key. I have been sleeping a lot today while waiting lol. I have finally woke up I think I shouldn't sleep anymore if not I might miss the NFP hah.
I agree with sentinel about EUR. I have been watching bloomberg yesterday and a lot of good news especially greece with their no limit bailout for banks; I believe I heard. I hope NFP is good than we can have a nice movement down for EUR. But looking at the past several news releases it seems to come out near the expectation for EUR and US. So I am also looking at a possible small movement at NFP.
2hrs more to go. Good luck.
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