EURUSD TURTLE SOUP SETUP SHORT - BEFORE INTEREST RATE CUTHi. I am bearish on EURUSD now as it reached the price I was interested to open short. Interest Rate cut for EUR is coming in June, the dollar should start reversing around now. CFTC reported recently more commercial shorts compared to longs (attached). Stop loss on chart. Target 1: 1.081 Final target on retest of flip zone.Shortby eZ_RealUpdated 337
EURUSD My Opinion! SELL! My dear subscribers, EURUSD looks like it will make a good move, and here are the details: The market is trading on 1.0851 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 1.0832 About Used Indicators: The average true range ATR plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility. ——————————— WISH YOU ALL LUCK Shortby AnabelSignalsUpdated 224
EURUSD potential entries for buyI´m not sure yet which one of the zones will work. Pair is in a pullback phase, so be careful with entries. Enter after the reaction, not blindly on the entry zones. I will try to update this trade when-if entry conditions are met. Wish you good luck.Longby Rendon1113
e/U BUYYYYYYYYYYYYYYYYYanother entry of a bulish fvg on e/U i will buy from here .........................Longby Thund3r_FXUpdated 117
EU SELL IDEAtrendline confirmation and candlestick pattern shows that EU is going to dropShortby DoctorForex27113
EURUSD SHORT TERM BUY 💯Price was in a downtrend, Brokeout of the trendline We saw HH AND HL Also price is in a good demand zone So we go long Longby Silveryekerete113
Supply line back test New to this, possibly a premature set up. Should wait for confirmation.Longby Cryptwalker117223
longlong on EURUSD. They did a breakout and a retest on the trendline. This will continue as long we make new higher highsLongby misternico112
bullish EURUSD 1hThe price has reacted well within the extreme discounted zone between the 0.62 and 0.70 Fibonacci levels. This has led to a clear breakout above the descending channel, potentially indicating a bullish presence in the market. However, while a bullish outlook is plausible, we must remain open to the possibility of selling opportunities, albeit with more patience. As we progress into this week, economic activities are relatively sparse. Nevertheless, there are key events to watch: - **Preliminary GDP (Q/Q)**: Previous: 1.3%, Forecast: 1.6% - **Unemployment Claims**: Previous: 218K, Forecast: 215K - **Pending Home Sales (M/M)**: Scheduled for Thursday These events, particularly the Pending Home Sales data, may support bullish price action in the EUR/USD pair.Longby reaganbwire00113
Forex Market Sentiment StrategiesForex Market Sentiment Strategies In forex trading, high performance often hinges not only on fundamental knowledge and technical analysis skills but also on the collective psychology of market participants. Leveraging market sentiment can thus be effective. This article discusses forex market sentiment, unravelling its nuances, exploring key indicators and sources, and offering strategies you may use to integrate sentiment analysis with technical indicators. Understanding Forex Market Sentiment Market sentiment in forex encompasses the collective mood and attitude of traders towards a particular currency pair. Traders often categorise market sentiment into various types, primarily: Bullish Sentiment: Indicates an optimistic outlook, where traders expect the price of a currency to rise. Bearish Sentiment: Reflects a pessimistic outlook, suggesting that participants expect a currency's value to decline. Market Sentiment Indicators and Sources Sentiment analysis in trading requires research into specific indicators and data sources, allowing for the integration of market psychology with objective market data. News Sentiment News data can be a powerful catalyst. Positive or negative surprises in economic indicators can trigger significant market reactions. Geopolitical events and trade negotiations also introduce uncertainty, prompting traders to reassess their positions. Breaking news related to economic policies and political issues can additionally trigger rapid market movements. Traders typically utilise an online Economic Calendar and follow reputable media sources to stay organised and informed about upcoming events. Social Media Sentiment The rise of social media has given traders a new avenue to express and gather sentiment. Platforms like X (formerly Twitter), Reddit, and Discord can provide valuable insights. However, filtering through the noise becomes imperative to distil relevant insights. You may consider relying on information from multiple social media platforms to cross-verify sentiments and distinguish informed analysis from speculative chatter. Retail Trader Sentiment Retail traders, often considered the "crowd", collectively shape sentiment through their actions and reactions. However, monitoring retail trader sentiment can provide contradictory signals, as both excessive bullishness and bearishness may indicate a potential reversal. It may be useful to look for divergence between retail sentiment and prevailing market trends, as a significant misalignment might indicate a potential reversal. Institutional Sentiment Institutional investors, comprising hedge funds, investment banks, and large financial institutions, often operate on a scale that dwarfs individual and retail traders, executing large trades that can significantly impact market prices. Traders may enhance their forex sentiment analysis tools by accessing reports, such as the Commitments of Traders (COT) report, to gauge sentiment by checking whether institutions are accumulating long or short positions. You can visit FXOpen and explore the impact of sentiment on the markets at the free TickTrader trading platform. Forex Sentiment Strategies Among the technical indicators that can be used to evaluate the prevailing mood are the Advance/Decline Line, the On Balance Volume (OBV), and the Average True Range (ATR). Below we show three strategies implementing each of them. 1. The Contrarian Strategy The contrarian strategy involves taking positions against the prevailing market sentiment, aiming to take advantage of potential reversals. Three key technical indicators employed in this strategy are the Relative Strength Index (RSI), the Moving Average Convergence Divergence (MACD), and the Advance/Decline Line. Entry The theory states that traders enter a contrarian long/short position when both RSI and MACD provide signals opposing the prevailing sentiment: bearish/bullish crossover for MACD and a cross below the overbought area and above the oversold area for RSI. Entry points are confirmed with signals through a divergence of the Advance/Decline Line: this should decline when the asset price rises and climb when the asset price falls. Stop Loss A stop-loss order may be placed above the recent swing high in a bearish contrarian trade or below the recent swing low in a bullish contrarian trade. Take Profit A take-profit order may be placed near a significant resistance/support level for a long/short trade. 2. Trend-Following Strategy The trend-following strategy involves aligning positions with the prevailing market sentiment, anticipating that established trends will continue. The two technical indicators employed in this strategy are the On-Balance Volume (OBV) and the Moving Average Convergence Divergence (MACD). Entry Traders may enter a trend-following long/short position when both OBV and MACD provide signals aligning with the prevailing trend. If the market sentiment is bullish/bearish, a rising/falling OBV and a bullish/bearish MACD crossover may imply the trend is about to continue. Stop Loss A stop-loss order might be placed below the recent swing low in a bullish trade or above the recent swing high in a bearish trade. Take Profit An opposite MACD crossover combined with signs of an OBV reversal could indicate a potential take-profit level. 3. Volatility-Based Strategy Traders utilising a volatility-based trading strategy seek to capitalise on heightened market volatility triggered by a sudden surge in bullish or bearish sentiment. This strategy utilises the Average True Range (ATR) indicator in conjunction with the Relative Strength Index (RSI) as a confirmation tool and a Moving Average crossover for directional guidance. Entry Traders would wait for a noticeable spike in the ATR as an indication of heightened market activity and potential significant moves. Then, a Moving Average crossover helps determine the likely direction of the trade: a bullish/bearish crossover reflects a potential upward/downward move, implying a long/short trade. The RSI is observed for confirmation, with a sharp rise/decline above/below 50 confirming a bullish/bearish sentiment for a short/long trade. Stop Loss Traders might place stop-loss orders just beyond recent swing highs or lows, aligning with the direction of the trade to manage risk effectively. Take Profit A long/short trade may be exited when there's a bearish/bullish MA crossover combined with RSI falling/rising below/above 50. Final Thoughts Implementing sentiment analysis in forex trading strategies acts as a bridge, seamlessly integrating human psychology with dry statistical data, allowing traders to decipher the emotional undercurrents that influence market movements. Ready to start trading on market sentiment? Consider opening an FXOpen account and trying out CFD trading in over 600 assets! This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.Educationby FXOpen114
Myopic loss aversion and market experience█ Myopic loss aversion and market experience Myopic Loss Aversion (MLA) is a behavioral bias that severely affects trading behavior, particularly the tendency to avoid losses more aggressively than to pursue equivalent gains. This bias can lead you to make suboptimal decisions, such as selling winning assets too quickly or holding onto losing assets for too long. Today, we're exploring a study by Mayhewa et al. that explores the interaction between MLA and market experience. Quick Results: Remarkably, experienced traders showed significantly reduced signs of MLA when operating in familiar market environments or under conditions of low-frequency information updates. This suggests that both familiarity with market dynamics and a strategic reduction in the overload of market information can help temper emotional, short-sighted decision-making. █ Study Overview ⚪ Methodology and Participant Structure The research, conducted by leading economists, employed an experimental market setup where participants engaged in trading sessions under controlled conditions. The study distinguished between inexperienced and experienced traders to gauge how repeated market exposure influences MLA. Participants were divided into two main groups based on their trading experience, with further subdivisions based on the frequency of financial information they received. One group received continuous updates (high-frequency information), while another received less frequent updates (low-frequency information), allowing the study to isolate the impact of information frequency on trading behavior. ⚪ Experimental Design The core of the experimental design involved a series of trading tasks where participants were required to make investment decisions across several trading periods. The study introduced a key modification from previous research by incorporating a 'moving average' display—showing the average asset values alongside real-time prices. This addition was intended to reduce cognitive load and help participants make more informed decisions by providing a clearer context for the asset's performance over time. ⚪ Initial Hypotheses The researchers hypothesized that: Traders with more market experience would exhibit less myopic loss aversion than their less experienced counterparts. Providing a moving average of asset values would help mitigate the MLA effect by smoothing out the emotional impact of short-term price fluctuations and emphasizing longer-term trends. Less frequent information updates might reduce MLA by limiting the 'noise' or emotional reaction to price movements, thus encouraging more rational, long-term thinking. █ Key Findings ⚪ Impact of Information Frequency The frequency at which traders receive market information plays a crucial role in shaping their trading decisions and susceptibility to Myopic Loss Aversion (MLA). The study found that high-frequency information updates, which provide continuous price data, tend to exacerbate MLA. This is because constant exposure to market fluctuations heightens emotional responses, leading traders to make more short-term decisions to avoid perceived losses. Conversely, less frequent information updates can help mitigate MLA. By reducing the noise from constant price movements, traders are encouraged to focus on longer-term trends rather than reacting to short-term volatility. ⚪ Role of Market Experience The study revealed that experienced traders with substantial exposure to market dynamics show markedly reduced signs of MLA in familiar trading environments. These traders may be better equipped to handle the emotional pressures of trading, well not so much. The research also indicated that experienced traders might revert to MLA behaviors in different trading setups or allocation tasks with which they are less familiar. ⚪ Moving Averages and Cognitive Effects The findings suggest that displaying moving averages is effective in reducing MLA. Traders with access to moving averages were less likely to make impulsive decisions based on short-term losses. Instead, they were more inclined to consider the overall trend and value of the asset over time. This cognitive tool helps traders maintain a broader perspective, which is crucial for mitigating emotional biases and making more informed, strategic decisions. █ Conclusion Understanding and mitigating Myopic Loss Aversion (MLA) is crucial for improving trading outcomes, particularly in the volatile and fast-paced markets. Experienced traders tend to exhibit lower levels of MLA in familiar environments, but they are not entirely immune to it. The context-dependent nature of MLA reduction among experienced traders highlights the importance of continuous adaptation and learning. Additionally, reducing the frequency of information updates and utilizing moving averages can help traders maintain a broader perspective, further mitigating the impact of MLA. █ Reference Mayhew, B. W., & Vitalis, A. (2014). Myopic loss aversion and market experience. Journal of Economic Behavior & Organization, 97, 113-125. doi:10.1016/j.jebo.2013.10.007 ----------------- Disclaimer This is an educational study for entertainment purposes only. The information in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell securities. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on evaluating their financial circumstances, investment objectives, risk tolerance, and liquidity needs. My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes! Educationby Zeiierman25
Signal to buy EURUSD according to the Flag patternDear traders! We see a correction in the descending price channel starting to appear on H4 and reaching 1.0855. But at the same time there is a flag pattern with a bullish price target gradually forming on the chart that usually determines our medium-term outlook. The key support at 1.083 could serve as a launching pad for the pair's next move. It is expected that the price will recover after the correction and reach the upper channel limit and retest the 34.89 EMA levels.Longby ConanForexUpdated 121245
EURUSD Long before FOMCHello Trader, A long on the eurusd is in line with the trend and expectations that fomc will be dowish on rates that causes dollar weakness. Trade safe! Longby Vitezabraham331
breakout feels closeI think euro is squeezing super hard. On the four hour chart, we have a bull flag that has broken outLongby DollarCostAverage111
EURUSD VISION 27/05 Hello everyone, Last Monday, the order block I was planning to buy didn't react as I'd hoped. But I'm still a buyer, given the trend. So here's my view of the next few days for EURUSD. Taking cash at 1.08050. Back in the OTE zone. Reaction on Order Block H4 If the order block reacts correctly this time, then I'll possibly take a buy on it. The level to aim for is 1.09410, where there is a lot of liquidity. Feel free to subscribe and boost this post if you enjoyed my analysis, and let me know what you think! Happy trading and a great week :) Longby InfiniteY12
EUR and the month of JULY in the past 50 years! Check it out!We just entered a new month, and not just an ordinary month -- It's JULY! And what's special about it? -- and its connection to EUR? Based on 50 year chart history, JULY is EUR's favorite month to 'ascend' so to speak. JULY seems to play an important role for the pair's price behavior. A lot of times, what comes after a correction -- is an upside reversal that falls most of the time on the month of JULY. This has happened multiple times in the past. It maybe a short term upside season, a major bullish one or an extended long continuation -- but it seems to bounce during those months. We just concluded June, and we have entered the 'divine' month for EUR which is JULY. Based on the present price level, we have created a new base to ascend. Last friday's closing (June ending) was an indication of things to come. Going forward as we enter this month, with the last closing price -- it looks like we are heading towards the "expected" direction based on historical movements. Of course this is not indicative of the pairs future price, but we can certainly be guided. Just something to ponder about and an interesting way of looking at how fascinating and dynamic price behavior could be.' The chart above is a HEXAMONTHLY (6-monthly) CHART Spotted 1.09 TAYOR. Safeguard capital alwaysLongby JSALUpdated 1117
EURUSD Buy set upEntry 1.0792 pivot support SL 1.0747 TP 1.0841 ( 50% Fibonacci level) Longby EleazarahmathUpdated 12
EURUSDHello, dear traders, a quick scalp for EURO, time frame 15 minutes. Accept the risk of the transaction and then enter the transaction. Smart money concept Liquidity currency hunterShortby fereydoon119912
EURUSD Analysis HTF DOL bearish, next weeks news wont have huge impact on markets so technicals are looking strong ✅Shortby BorisBonerUpdated 11
Eur/UsdHello traders! The eur/usd pair is entered in the channel scheme. The eur/usd pair is entered in the channel scheme. Wait for the break of the lines, as the break will be the confirmation of the position opening. Beware of economic news. I expect big movement. Be patient and be careful! Don`t forget to look at the economic calendar! MAKE MONEY AND ENJOY LIFE 💰 THANK YOU! GOOD LUCK! 🙏🏻🙏🏻🙏🏻by THP-Forex-Academy11
Probability of triangle-type sideways pattern, analysis ideaDear analysts and traders, I trust this message finds you in good health and high spirits as you prepare to approach the upcoming week with renewed vigor. I extend my best wishes for continued success in all your business pursuits. It is essential to emphasize that sustained success in business hinges significantly on the consistent establishment and adherence to your principles. As an advocate of the Elliott Wave principle, I regard this methodology as a valuable instrument for market analysis. Over the past three years, I have honed my approach by amalgamating this principle with a meticulous evaluation of diverse market scenarios. I strive to mitigate market uncertainties by upholding a broad spectrum of market perspectives, enabling me to discern market structures with utmost precision. I am pleased to share my analysis with you, with the disclaimer that I do not offer buy or sell recommendations. My perspective on analytical ideas remains entirely impartial, and if my analysis aligns with your standards, it can serve as a compass for informed decision-making. I have enclosed my prior analysis of the same market for your perusal and comparison. All aspects of my analysis are clearly delineated for clarity. Nevertheless, familiarity with the Elliott Wave principle theory facilitates comprehension of the analytical concept. I apologize for the repetitive nature of the text, as my week is occupied with formulating analytical and educational ideas, as well as engaging in trading activities and managing my social networks. Due to time constraints, I am unable to provide textual explanations for every idea, hence the inclusion of a separate text alongside the labeling. Should the text be unclear, I am available to elucidate the key points. My rigorous study of the Elliott Wave Principle spanned nearly three years, during which my grasp and utilization of this invaluable tool evolved. My progress thus far stands as a tribute to the legacy of Ralph Nelson Elliott, whose brilliance underpins my accomplishments. May he rest in peace. I am grateful for your unwavering support and benevolence, and I eagerly anticipate your feedback and constructive criticism. May my analysis serve as a valuable asset in your business endeavors, and I remain yours sincerely, Mr. Nobody Previous analytical ideas The classic zigzag pattern (Diagonal Wave C) Bearish market scenario (Bigger Flat) Longby mehdi47abbasi7911
EURUSD: Weak DXY and Potential UpsidesHey Traders, in tomorrow's trading session we are monitoring EURUSD for a buying opportunity around 1.08100 zone, EURUSD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.08100 support and resistance area. Trade safe, Joe.Longby JoeChampionUpdated 9962