EURUSD Day Trades – December 27

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EURUSD Day Trades – December 27

Expected a quiet day today amidst holiday trading, but it ended up being anything but. An early rally triggered multiple stop loss order above former highs on the longer-term term charts, creating a strong rip higher followed by a slower but equally spectacular drop.

Throughout the London and early-US session there were a number of excellent opportunities which could have been captured using strategies outlined in prior articles.

Following an aggressive move higher during the London session there was a small pullback which took the form of a tight downward channel.

The strategy, as outlined in Trading the “Mini-Channel Breakout”, is very simple. After an aggressive move, if a small channel forms moving in the opposite direction, wait for a breakout of the channel (in the same direction as the prior strong move) and then enter.

A Fibonacci extension tool is applied to provide some profit targets. Usually the 100 Fibonacci level would be the target, but if the price is moving very aggressively then an exit can be taken at the first sign of a pullback. This would have resulted in getting out near the 161.8 to 138.2 level as the price started to come back down.

Figure 1. EURUSD Mini-Channel Breakout Trade – 1 Minute Chart

Basic Trend Trades

Following the surge shown in figure 1 the price declined, and every time it tried to push higher, sellers stepped in to quickly take it to a new (short-term) lower-low. This indicated that the rally was likely over and the price would either continue lower or consolidate moving in more of a sideways direction. In either case, it was reasonable to consider short trades.

Using a method first outlined in EURUSD Day Trades – October 7 and October 8 a short trade soon presented itself. Going short at the upper band (0.01% exponential envelope) with a 3.5 pip stop and a profit target of 6 pips (or using a Fibonacci extension tool as discussed prior), this short trade also worked out well. I usually just take profit at the fixed target, but with no evidence of the price moving higher just yet, the trade could have been held for a larger gain.

Figure 2. EURUSD Trend Trade (“scalping”) – 1 Minute Chart

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Throughout the rest of the London and early US session there were no aggressive moves higher (relatively speaking), which meant if trades were taken they should have been on the short-side.

Using the same strategy as outlined above, there were multiple shorting opportunities which would have been profitable. Toward the right-hand side of Figure 3 (below) there was one trade which would have likely stopped out most traders out (using the 3.5 pip fixed stop), unless the trader waited for a better entry above the upper band because the price did eventually drop again.

Figure 3. More Potential EURUSD Trend Trades – 1 Minute Chart

After the likely loser the price starts “riding” the band, and is no longer bouncing off it like it was earlier in the session. If the price isn’t bouncing off the band then the strategy shouldn’t be used, as some other strategy–likely based off tendency and price action–will be more effective. Also, this strategy is best used during the London and early US session. As the London close approaches this strategy becomes less effective.

EURUSD Day Trades – December 27

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EURUSD Forex Chart

Ideas

You will learn the best place where we can trade EURUSD at low risk. Write in the comments all your questions and instruments analysis of which you want to see. Friends push the like button if you like the idea – that would be the best THANK YOU. Thank you for your support, I Love it.

Two scripts: Breakout from level 1.09 Breakdown of level 1.78 what do you think? Friends, thanks for your likes and comments! Good luck with trading!

Please support this idea with LIKE if you find it useful. Price still inside of the Falling Wedge, but breakout of horizontal support zone will be a total invalidation for the pattern. Plus overall we have a Descending Channel which can be confirmed by the the breakout of horizontal resistance, then down we go. What if we have an alternative scenario where.

Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.

hey guys, on EURUSD chart we see a perfect example of how a trader can variate a risk: we have three perfect entry levels for long trade: 1.08 level – current structure (previous low) 1.07 level – current structure low 1.06 level – support of the major channel 1.06 level gives the safest long entry with a very tight stop.

Hello people. Just before Monday want to show you what I think can happen during next week on EUR / USD. I recommend to see what will happen on Monday. Wait in buy zone for more confidence in rebound. The Wedge on chart is thin, so maybe the breakout will be low. 1.075 is good support so we can use it as key level. Write me if you following my updates: —.

Hi friends, here my daily analytics for EUR/USD price. Reasons: – Price trades in Falling Wedge – Price near support level 1.0780 – Price can make movement upward after exit from wedge – To open long only after breakout of wedge or other confirmation – Always do your own research before opening positions and always put SL If you have your own opinion or thoughts.

Traders, EURUSD like DXY has been fooling traders. It has been creating indecision. However if you look under the bonnet, you will see that it has been hiding opportunities. Support and motivate me by hitting the like button, subscribing to my channel and sharing this analysis with other traders. Comment below and let me know what you think of this analysis and.

Hi there. Price is forming a continuation pattern to the upside. Watch strong price action at the current price for buy.

EURUSD is bearish and it is below the key resistances and moving averages on all the important TFs. So, I would advise you not to buy EURUSD. I have been selling EURUSD when the price was at 1.11(Check out the ideas at the bottom). However, the drop is not over yet. In my opinion, EURUSD will eventually drop to the previous low at 1.0640 and possibly even.

Close the candle on the red: BUY Green : take profit

6 Total Trades Tested: 4 Winners & 2 Losers: 6R Total Gain

WE can wait for a break of the descending channel and upward and start buying, Or we wait and see if the waiting wedge on Daily TF can continue falling

EURUSD seems to follow a unique pattern, which could be challenging in the new week. on the chart, is my approach towards forecasting next market movement. my analysis is based on: 1.Elliot wave theory (kind of unorthodox), 2.support & resistance and 3.history repeating itself. Study my wave labeling to see these listed approach. NOTE: This analysis could become.

Please support this idea with LIKE if you find it useful. MONTHLY Overall structure is OLHC. Price is currently trying to find a strong support . There is a bullish divergence on candles and TDI from the 2nd September 2020 to 1 April 2020. Price is strong bearish currently .. we waiting for buyers to dominate and gain full control . Wait on extra.

��HELLO-HELLO, my dears. ������ ������Perhaps many traders haven’t seen my previous charts on the euro / dollar. A very good analysis turned out, so I duplicate it for you!�� ��The price is in the ascending channel. Nothing unforeseen yet. Smooth growth is expected to a resistance level of 1, 086. (blue colour��) ��Stay with me! Have a great and productive.

Price broke market structure of support at 1.08632, it will look to retest that range and head down to the lows. There is a high possibility that price would retest the 50ma, be patient and look for a probable short then. Trade wisely!

Technicals

Profile

EUR USD (Euro / US Dollar)

The most traded currency pairs in the world are called “the Majors” and the EURUSD leads this group as the most traded pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999.

Best Time to Day Trade the EUR/USD Forex Pair

Best hours of the day to day trade the EUR/USD

Image by © The Balance 2020

The allure of forex day trading is that you can trade 24-hours a day. Unfortunately, that doesn’t mean you should. Day traders should only trade a forex pair when it’s active and there’s lots of volume and transactions occurring. The EUR/USD has certain hours which are acceptable for day trading because there is enough volatility to generate profits, which are likely higher than the cost of the spread or commission. To be efficient and capture the largest moves of the day, day traders hone in even further, often day trading only during a specific 3–4-hour window.​

The Impact on EUR/USD Volatility

The forex market operates 24-hours a day during the week because there’s always a global market open somewhere due to time zone differences. However, not every global market actively trades every currency, so different forex pairs are actively traded at different times of the day.

When Europe is open for business, pairs that involve the euro (EUR) or British pound (GBP) are more actively traded. When the U.S. and Canada are open for business, pairs that involve the U.S. dollar (USD) and Canadian dollar (CAD) are more active.

If day trading the EUR/USD, the times that are likely to be most active for the pair, on average, will be when London and New York are open. Those markets are open between 0800 and 2200 Greenwich Mean Time (GMT). To see major market hours in your own timezone, or your broker’s (charts) time zone, use the forex market hours tools.

Acceptable Times to Day Trade EUR/USD

The hourly volatility chart shows how many pips the EUR/USD moves each hour of the day (times are in GMT). There is a significant increase in the amount of movement starting at 0700, which continues through to 2000. After this, movement each hour begins to taper off, so there are likely to be fewer big price moves day traders can participate in.

Day traders should ideally trade between 0700 and 2000 GMT. Trading outside of these hours, the pip movement may not be large enough to compensate for the spread or commissions.

Volatility changes over time, but the most volatile hours generally do not change too much. 0700 to 2000 GMT will continue to be the most acceptable time to day trade, regardless of whether daily volatility increases or decreases. Note that daylight savings time may affect trading hours in your area.

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