EURUSD Trading in “Off” Hours

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EURUSD Trading in “Off” Hours

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EURUSD Forex Chart

Ideas

We could see how the price rose after the breaking Triangle. It is in the next Triangle at the time and if it will cross the higher border we can open Buy to 1.09699. Potential profit will be 3 times bigger than the risk. Push like if you think this is a useful idea! Before to trade my ideas make your own analysis. Write your comments and questions here! Thanks.

Following yesterday post, long bias remain intake as long as price traded above 1.0800 region. Link to my yesterday ideas attach below. _________________________________________________________________________________________________________________________________________ Traders! if you like my ideas and do take the same trade, please write it in comment so we.

Please support this idea with LIKE if you find it useful. Price formed a Descending Triangle. In case there is a confirmed breakout of the Horizontal Support zone, it will be a confirmation for the pattern and also the breakout of Ichi Cloud, so we can initiate a short position Thank you for reading this idea! Hope it’s been useful to you and some of us will.

Friends, please support my free works by clicking LIKE button. Reasons: – Price trades Between two levels, Support and Resistance – Support Level 1.0830 $ – Resistance Level 1.0890 $ – Short of price will break support level and long if price will break resistance level – To open position only after setup which you trade – Always do your own research before.

Hi dear friends, The price of this currency pair has touched the downtrend, this means that the price should not go against this line, the Price will direct its movement to fall. The price should reach the target at 1.08500. Good luck to you. If you liked this idea, please like and subscribe to my profile. This idea does not provide the financial advice.

we can see continue upside move as per chart pattern. ThankYou

Please Support this Idea with LIKE if it is Useful. EURUSD The price is above the trendline and is above support/resistance level,if price continue to hold the support then price could continue moving up.. For Entry: Wait for the formation of Bullish Candlestick Pattern to close on 1hr timeframe for confirmation to BUY.. Trade it with proper Sl.. In case,If.

Hello Traders , Buy now or from bottom of range in case price moves lower , we would like to stay long on eurusd till price is not making new lows. In these articles we post intraday possible outcomes of pairs based on naked trading setup only .. We do not take into account fundamental news which may move pair significantly in any direction , follow your.

price closing in 1 hour above 1.087 is a good long zone. with stop loss below : 0.20% join my telegram channel : t.me twitter : twitter.com

I am expecting ABC wave in EURUSD. In ABC pattern wave C is equal to the size of wave A. Wave B mostly retrace back from 0.618 Fibonacci level. Hit the like button if you find it helpful and informative and follow to catch the waves correctly. PREVIOUS.

��GOOD EVENING, FRIENDS!�� ��Who was un long position with me, congratulations to you guys! ������The deal went perfectly!���������������� ������Now, IMHO, euro/dollar looks bullish������ ✔next target 1.09717�� ��I remind you, that you have to manage your potential risks and don’t forget about stoploss.�� ��Stay with me�� ��See you later �� �� Bye-Bye Your Rocket Bomb����

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Under that heading we publish signals of the indicator called “Ranger”. It was developed by our experts for intraday trading purposes. This indicator is based on statistical analysis of the data and provides information about possible maximum/minimum values of the day (just right after the day has started) with certain probabilities. What does this information.

we are seeing a potential buy long term towards resistance zone

The price has broken a strong resistance line and is now moving up. I think the movement will continue to the resistance level of 1.114.

EURUSD Compounding our long

Please LIKE and COMMENT if you enjoy this analysis.

Mean principles and examples of using trendlines in a right way.

leg up the structure resisted well to price each time they confront each other (price with structure acting as a support or a resistance), bounces were strong. looks like a very strong bullish signal. aiming for the last high this idea is correlated with GBPUSD and is to enter now but don’t take the sterling trade for the moment (follow the plan) Trade active

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.

Trading the Euro – EURUSD

When FX Traders first come to trading platforms, their interest is almost universally drawn to the same vehicle.

This vehicle is typically highlighted, stands out, and is noted as the EURUSD.

The reasons for this popularity make sense. Europe and The United States represent the two largest economies in the world. While the US Dollar remains the world’s most popular reserve currency, the fast rise of the Euro to international prominence brought it to the world’s second most common reserve currency; and this was in an extremely short amount of time.

How Have Traders Fared in EURUSD?

Unfortunately, this rampant popularity in the currency pair hasn’t equated to profits for traders speculating in the currency pair. In the Traits of Successful Traders series, David Rodriguez looked at exactly this question while examining over 12 million live trades, placed by real retail.

The graph below will show the five of the most popular currency pairs, plotting the profitability of traders (running up/down on the left side of the graph) at various times throughout the day (plotted horizontally along the bottom of the graph). EURUSD is represented by the blue line.

Prepared by David Rodriguez for the Traits of Successful Traders series

As you can see, EURUSD is actually the least profitable pair at many times throughout the day, despite its raving popularity.

Notice that profitability seemed to be far lower on EURUSD during the very active market hours (from 4AM EST to 2PM EST). This is an important point, as this is shortly after London, the largest FX market center in the world, opens for the day and brings a massive amount of volume into the market.

When the US opens for business at 8 EST, more volume is introduced as The United States is the second largest FX market center. Notice that profitability for traders in EURUSD seems to bottom shortly after the US Open (8-11 AM EST).

From the research, it appears as though as volume and market activity increase – trader profitability in EURUSD decreases, and decreases more-so than what was seen in the other most commonly traded currency pairs.

Given the information we have on how traders have fared in the past, we can build an approach based on what has or has not worked for other traders in the past.

The first point of emphasis is that while traders may have been worse-off trading EURUSD during the very active times of the day (The London and US sessions); profitability on EURUSD is actually above or near 50% for much of the Asian Trading Session.

As a matter of fact, after The United States closes for the day at 5:00 EST (shown as 17:00 on the graphic), trader profitability stays above 45% until London opens the next morning.

For traders wanting to speculate on EURUSD, the Asian trading session may be more accommodating than the ‘active’ hours of the day.

One of the primary reasons for this may be in the fact that the Asian session typically sees smaller price movements than what may happen during the very active times of the day. Support and Resistance, generally speaking, will see much more respect during the slower Asian trading session.

In ‘When is the Best Time of the Day to Trade Forex’ David Rodriguez looks at exactly that, and finds that the average movement of the EURUSD currency pair is far smaller than during the Asian trading session than during the active hours of the day.

Prepared by David Rodriguez for the Traits of Succe ssful Traders S eries

Because of these slower price movements and the fact that support and resistance will have a greater tendency to be respected, traders may find range trading approaches on the Euro-Dollar to be most accommodating during the Asian Trading Session.

Once a trader knows they want to take a range-based approach on the pair, filling in the strategy can be simple. There are numerous materials available from DailyFX to assist traders with their range-trading approaches.

In How to Analyze and Trade Ranges with Price Action , we looked at a mannerism of trading ranges using only price inflections and swings, no indicators necessary. By taking an approach such as this, you can locate the support or resistance in the market as the Asian session opens, and look to buy when price is at or near support; and look to sell when price is at or near resistance:

Created by James Stanley

In the JW Ranger S trategy , Jeremy Wagner brings price action together with the Commodity Channel Index, or CCI, to decide when exactly he might want to trigger into a position.

What if I Can’t Trade the Asian Session?

Given the 24-hour nature of the FX market, and considering that to many FX traders from Europe and the United States, the Asian session is still considered ‘off-hours,’ this was a common reason why traders didn’t look to trade when the market may be more accommodating to their goals.

In ‘ How to Trade Forex Majors like the Euro During Active Hours ,’ this question is addressed directly by David Rodriguez in the third installment of The Traits of Successful Traders series .

David suggests that, since markets generally exhibit more volatility during the active hours, and this is when traders have been the most prone to The Number One Mistake that Forex Traders M ake ; traders could use this volatility to their advantage by using aggressive risk-reward ratios with breakout strategies. From the research:

“Breakout Trading Strategies tend to do relatively well in volatile environments, so if you plan to trade during these times, look to trade breakouts.”

With breakout strategies, traders are monitoring support and/or resistance; waiting for a break of the price level with the expectation that once the break is made – price will continue running in that direction, allowing for the maximization of profits in instances when the trader is correct.

In the article ‘Price Action Breakouts,’ we looked at a mannerism for trading price-breaks without the necessity of any indicators at all, using price alone to denote support and resistance levels.

In the article, ‘Breakouts: How to Stay Away from Some Losing Trades,’ Jeremy Wagner introduces another indicator, price channels aka Donchian Channels, to help monitor price levels that may warrant future breakout opportunities.

— Written by James B. Stanley

You can follow James on Twitter @JStanleyFX.

To join James Stanley’s distribution list, please click here .

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