Bullish EUR/USDI am still Bullish on EU. With the confirmation of Fibbs and levels not seen on this chart, I am still looking for Euro Dollar to go long. Longby MoneyMew225
Mastering Multiple Timeframe Trading StrategiesMastering Multiple Timeframe Trading Strategies In the fast-paced world of trading, the ability to analyse and interpret multiple timeframes can be one of the advantages of a trader. In this FXOpen article, we will delve into the concept of multiple timeframes in trading and consider two multiple timeframe trading strategies based on it. Understanding Multiple Timeframes Multiple timeframes refer to the simultaneous analysis of price data across charts with different periods. This approach allows traders to gain a comprehensive view of the market's dynamics. The use of multiple timeframes is paramount in trading for several reasons. By analysing various time intervals, traders may: - Properly analyse the overall market trend. - Identify potential entry and exit points. - Enhance risk management by assessing the broader context. - Avoid being trapped by short-term market noise and false signals. Selecting Timeframes Trading on multiple timeframes usually means confirming signals on charts with two or three different periods. More intervals may confuse traders with excessive market noise. Choosing the Primary Timeframe The primary timeframe serves as the foundation of your trading strategy. It's essential to select a primary timeframe that resonates with your trading style and objectives. Here's why it matters: Alignment with Trading Style: Your primary timeframe should align with your preferred trading style. For example, if you are a day trader looking for quick, short-term opportunities, a primary timeframe of 1-hour or 15-minute charts may be suitable. On the other hand, if you are a swing trader seeking more extended trends, daily or weekly charts might be your primary choice. Clarity of Signals: The primary timeframe should provide clear and actionable signals. It's the timeframe where you identify key support and resistance levels, chart patterns, and trend directions. The primary timeframe is where you make your core trading decisions. Selecting Secondary Timeframes While the primary timeframe forms the core of your strategy, the secondary one complements and reinforces your analysis. These secondary timeframes offer additional perspectives and confirmation. Here's how you may choose one: Alignment with Primary Timeframe: Secondary timeframes should align with your primary period. For instance, if your primary period is the daily chart, you may consider a secondary interval, such as 4-hour or 1-hour charts. The secondary timeframes should provide a more detailed view without straying too far from your primary analysis. Confirmation and Entry Timing: Use secondary timeframes to confirm signals from your primary analysis. When the primary chart generates a potential trade signal, consult the secondary one to validate it. This additional confirmation may enhance the reliability of your decisions and help you time your entries more accurately. Managing Risk: Secondary timeframes can also assist in managing risk. By assessing shorter periods, you can identify intraday fluctuations and adjust your stop-loss and take-profit levels accordingly. Multiple Timeframe Trading Strategies Below, you will find two trading strategies that use multiple time frames to trade. Swing Trading Strategy with Multiple Timeframes Timeframes Used: - Primary: Daily Chart - Secondary: 4-Hour Chart Indicators and Tools: - Exponential Moving Averages (EMA) - 14-period and 21-period - Relative Strength Index (RSI) - 14-period - Fibonacci Retracement Tool Entry and Exit Points: Entry Point (Long Trade): When the daily chart shows an uptrend (a 14-period EMA above a 21-period EMA) and an RSI above 50, and the 4-hour chart reveals a pullback to a Fibonacci support level: You may enter a long trade with a stop-loss just below the support level on the 4-hour chart. You may set a take-profit target at a resistance level or when the 4-hour chart shows signs of a potential reversal. Entry Point (Short Trade): When the daily chart indicates a downtrend (a 14-period EMA below a 21-period EMA) and an RSI below 50, and the 4-hour chart exhibits a retracement to a Fibonacci resistance level: You may enter a short trade with a stop-loss just above the resistance level on the 4-hour chart. You may set a take-profit target at a support level or when the 4-hour chart reflects a potential reversal. You may use trailing stop-loss to partially close your trade and lock in the returns that have already been reached. On the chart above, the 14-day EMA broke below the 21-day EMA, while the RSI indicator was below 50. A trader could have considered this as a signal to open a short position. When the trader switched the timeframe, they may have noticed that the price rebounded from the 23.6% Fibonacci level. This could be considered as an entry point. A stop-loss could have been placed above the closest Fibonacci level (38.2% in this case) to fulfil a standard risk/reward ratio. The take-profit target would depend on the trader’s trading approach. Multiple Timeframe Analysis for Day Trading Timeframes Used: - Primary: 15-Minute Chart - Secondary: 1-Hour Chart Indicators and Tools: - Exponential Moving Averages (EMA) - 9-period and 50-period - Relative Strength Index (RSI) - 14-period - Support and Resistance Levels Entry and Exit Points: Entry Point (Long Trade): When the 15-minute chart shows an uptrend (a 9-period EMA above a 50-period EMA), the RSI indicates bullish momentum, and the 1-hour chart confirms a support level: You may enter a long trade with a stop-loss just below the support level on the 15-minute chart. You may set a take-profit target at a resistance level or when the 15-minute chart reflects a potential reversal. Entry Point (Short Trade): When the 15-minute chart indicates a downtrend (a 9-period EMA below a 50-period EMA), the RSI indicates bearish momentum, and the 1-hour chart confirms a resistance level: You may enter a short trade with a stop-loss just above the resistance level on the 15-minute chart. You may set a take-profit target at a support level or when the 15-minute chart reflects a potential reversal. On the chart above, created on the TickTrader platform, a trader may have spotted conditions for a long trade (the 9-period EMA was above the 50-period EMA, and the RSI indicator was above 50). Checking the hourly chart, they may have noticed that the conditions occurred when the price rebounded from the support level. Moreover, the RSI indicator broke above the 50 level, signalling potential upward movement. A trader could have opened a long position with a stop-loss order below the most recent swing point. Mistakes to Avoid Trading on multiple timeframes may be a powerful approach to gaining a comprehensive overview of the market and making more informed trading decisions. However, it also introduces complexities that traders need to navigate carefully. Here are some common mistakes to avoid: Neglecting the Primary Timeframe. One of the most significant mistakes is focusing too heavily on the secondary timeframe and neglecting the primary one. The primary one provides the overall trend direction and context, so it's essential not to lose sight of it. Overcomplicating Analysis. Trading on multiple timeframes can become overwhelming if you overcomplicate your analysis. Using too many multi-timeframe indicators, tools, or charts can lead to analysis paralysis. Keep your approach simple and effective. Ignoring Conflicting Signals. It's not uncommon for different periods to produce conflicting signals. Avoid the mistake of trading solely based on one chart without considering the broader context. Conflicting signals should prompt caution and further analysis. Chasing Short-Term Trends. Day traders may sometimes fall into the trap of chasing short-term trends on very small periods. Avoid the mistake of becoming too focused on micro-trends without considering the bigger picture. Overlooking Risk Management. Regardless of their trading approach, traders should use proper risk management. It's essential to set stop-loss and take-profit levels based on your analysis and risk tolerance for each trade. Neglecting the Market Context. Trading solely based on technical analysis from multiple timeframes may lead to neglecting the broader market context. Be aware of significant economic events, news releases, or geopolitical factors that could impact the market. Final Thoughts Trading on multiple timeframes can be a potent tool when used correctly, but it also comes with its challenges. Avoiding the common mistakes and maintaining discipline in your analysis and execution may lead to more effective trading. If you want to test multi-timeframe trading strategies, open an FXOpen account now! 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 FXOpen227
EURUSD Technical Analysis and Trade IdeaDuring a recent rally, the EURUSD exhibited notable bullish momentum. In our video analysis, we explore potential long positions, contingent upon price aligning with our entry criteria. Examining the 4-hour chart, we observe a previous bearish trend that has been interrupted by a bullish market structure breakout. While my bias leans toward a long position, it remains contingent on price action developments outlined in the video. Disclaimer: This content does not constitute financial advice.Long08:41by tradingwithanthonyUpdated 226
ECB Cuts Interest Rate for First Time Since 2019EUR/USD Analysis: ECB Cuts Interest Rate for First Time Since 2019 By its decision, the ECB followed the example of the Bank of Canada, which lowered interest rates by 0.25%, as we reported yesterday. Consequently, this trend might continue with the Federal Reserve, marking the development of easing monetary policy cycles in Western economies. According to ForexFactory: → the interest rate had been at 4.50% since September 2023; → it was reduced to 4.25%; → the reduction was accurately predicted by experts. According to CNBC: → the ECB forecasts inflation at 2.5% in 2024 and 2.2% in 2025; →"Based on an updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission, it is now appropriate to moderate the degree of monetary policy restriction after nine months of holding rates steady," stated the ECB Governing Council. Given that the rate cut was anticipated, the EUR/USD rate hasn't changed significantly today, despite a noticeable spike in volatility. Analysing the EUR/USD chart on 30 May, we highlighted the importance of the 1.08 level. Since then, the bulls have shown the ability to bounce off this level and rise to 1.09. The technical analysis of the EUR/USD chart, considering fresh data, provides important insights: → the 1.09 level shows signs of resistance, as the price struggles to stay above it for long; → this is evident from the price action forming peak B, as well as from yesterday’s action following the ECB news release; → the RSI indicator is forming a bearish divergence between peaks A and B. Thus, the EUR/USD price is forming a narrowing triangle between the ascending trendline (shown in green) and the 1.09 level. It’s possible that a breakout of this pattern, which can be interpreted as a temporary consolidation, will lead to a new significant trend. The impetus for this could be the results of the European Parliament elections taking place from 6-9 June. Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen. 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.by FXOpen227
EURUSD LongIntra day long on EURUSD, Support zone with fib retracement in 30min uptrend. Wait for 15:00 US jobs data and use a trigger to enter trade if data comes out in favour of trade (weaker jobs data) Longby ElGore18Updated 116
EURUSD BuyEURUSD Long as we have seen in previous times it has given good of the short trades but it seems like that short is almost over price action can also be seen which shows us market is almost exhausted wich can also be observed through volume which shows us market is indecision we are long in EurUsd in time we will wait for rectangular range which after breakout we will go longLongby Wakeel_Saab115
EUR USD PRICE - BACK TO THE RESISTANCE ZONE EUR USD here we can see that price already in a up trend, last friday price took a support at 0.5 level, now price moving to the up side, make a long entry till marked price line, follow for more live updates...Longby FOREX_TRADER_007Updated 334
EURUSD -SELL Dropping like a stone Some what of a Pinbar above rejection to go higher as a rule Sellstops and Targets Hit at Reistence They normally drop back to previous levels 80% chnace EUR Deposit Facility Rate: Neutral impact (Actual met consensus). ECB Interest Rate Decision: Neutral impact (Actual met consensus). USD Continuing Jobless Claims: Slightly weaker (Actual higher than consensus). Initial Jobless Claims: Weaker (Actual higher than consensus). Jobless Claims 4-week Average: Slightly stronger (Actual lower than consensus). Balance of Trade: Weaker (Larger deficit than previous). Exports: Stronger (Higher than consensus). Imports: Weaker (Higher than consensus, indicating a larger trade deficit). Based on this analysis, the Euro appears relatively stable, while the Dollar shows some signs of weakness, particularly in terms of unemployment and trade balance. Key Points: EUR Strength: The Euro's strength is currently limited due to the bearish outlook post-ECB decision and the potential for future rate cuts. USD Strength: The USD remains supported by expectations of prolonged high-interest rates by the Federal Reserve, despite some weak economic data points. Conclusion: Given the mixed economic signals, the USD may see some pullback against the Euro in the short term due to recent weak job data. However, the overall strength of the USD, supported by the Fed's stance on interest rates, could limit the Euro's gains Just some blurb to fill the box : ) Shortby NZ_Shareman224
EUR/USD Possible Correction Dawnwards#market_pulse #currencies 😎 Hello everyone! With the start of a new trading week, here is some important information for your analysis. ☕️ Dollar Holds Steady as Traders Eye Fed Outlook; Focus on ECB ▫️ Dollar: The dollar held firm on Monday, as investors grew confident that U.S. inflation may have slowed enough for the Federal Reserve to cut rates in 2024. The dollar index was up 0.1% at 104.67. Traders are now pricing in a 60% chance of a rate cut in September. ▫️ Euro: The euro edged down to $1.0844 ahead of the ECB policy meeting on Thursday, where a rate cut is expected. Markets are pricing in 57 basis points of cuts this year from the ECB. ▫️ Indian Rupee: The rupee, the best performing Asian currency this year, was last at 83.035 per dollar, buoyed by exit poll results suggesting a third term for Prime Minister Narendra Modi. ▫️ Mexican Peso: The peso weakened after the ruling party declared Claudia Sheinbaum the winner of the presidential election by a large margin. ▫️ Sterling: The pound fell 0.2% to $1.27215, influenced by ongoing economic projections and recalibration of rate expectations. ▫️ Japanese Yen: The yen was stable at 157.18 against the dollar, close to last week's four-week low of 157.715. Japan's monetary authorities have been actively intervening in the forex market to support the yen. 🌐 Key Developments to Watch: ECB rate decision and economic projections ISM manufacturing survey U.S. payrolls data Japanese intervention in the forex market 💵💵💵 GET $20,000 JUST FOR $99 *** PERFECT20 (promo code)Shortby sabiotrade115
EURUSD in bullish trend EURUSD in bullish trend showing bearish diversions in the upcoming trend Shortby shahmir551113
EURUSD Will Go Higher! Long! Please, check our technical outlook for EURUSD. Time Frame: 12h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 1.086. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.093 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!Longby SignalProviderUpdated 225
EUR/USD Long H1 - H4 TimeframeWe are currently on a very clear bullish trend on the most recent price structure on EUR/USD. We have a zone identified through imbalances and volumes void and a reaction giving us the entry indication to go long. Target is an important high of liquidity on the 4H - Daily view.Longby andrefx24Updated 224
EURUSD 15MinHello traders and welcome I have posted my opinion on eurusd on bigger timeframes, but I swing trade it on 5/15min timeframes So as you see on the chart I think that euro remains bullish on the 5/15min timeframe and it started to pull back right where I wanted it to, so I tracked the extend of the pull back and we are where the aggressive trades like me would enter, however stop loss would be far and im willing to add to my position at "long 2" box. my target profit remains the same where buyer who bought at bronze line first entered and in my opinion their target is the box above the pullback area which I have Plotted as target.Longby deadparkcity223
EURUSD 8Jun24A brief review of Price Action, Market Direction and What to look for in the coming weeks and the rest of June for EurUsdShort12:16by Lafx_Index223
EUR/USD Hello to all the esteemed traders! Today we are here to examine the engaging analysis of the Euro/Dollar currency pair in the 4-hour and 15-minute timeframe. It is February 6, 2024 and we are going to delve into the intriguing details of this analysis together. Join us for a more thorough and qualitative analysis to traverse this path together and make the best decisions along the way. Shortby fereydoon1199224
EURUSD - sell hi. i will add more and last sell postion from this area . because i keep my strategy Shortby KronFX223
EURUSDThe return of the euro in the long-term analysis, in this disturbance, today's drop and the constant price in these few days are considered a temporary correction, and the euro will soon be ready to increase again.Longby sashacharkhchianUpdated 442
EURUSD - BEARISH SCENARIO Hello Traders ! The EURUSD failed to break the resistance level ! So, Let's expect the bearish scenario: if the price breaks and closes below the support level (1.07882 - 1.08010). We will see a bearish move📉 ------------- TARGET: 1.07500🎯Shortby Hsan_BenhmedUpdated 557
EURUSD WILL EXPLODE BUYTP-1-------15Pip TP-2-------35Pip TP-3-------Full TP Manage SL during news time, intraday trade tp and sl mentioned not a financial adviceLongby ArehmanB443
EurusdAccumulation,Manipulation,distribution face market about to fall hard to tap into our buy limits.keep eyes on this oneLongby CurrencyMomentumFX113
EURUSD SHORTWe are looking at a potential short position on EURUSD within the next week or so. Price is reaching a resistance level/trend line/lower high. Let's keep it simple and keep an eye on it.Shortby johntchoinski222
Bearish continuation after the NFP reversalI see the price closing strong below IFVG and creating a new FVG on H4 and mitigation block will be my POI for the next week. Always follow these rules - Accumulation / Manipulation / Distribution - No liquidity raid = No trade - Never buy high and never sell low “Adapt what is useful, reject what is useless, and add what is specifically your own.” Dave FX Hunter ⚔Shortby Dave-FX-Hunter114