[TimRacette]

Do you trade the Eurodollar? I use a 233 tick chart alongside a 15-min. I enter at the first 233t setup at a 50% Fibonacci levels using an 8 pip stop. Does anyone else trade in similar fashion? It's always interesting comparing entry's as there's a million ways to skin a cat.

I attached a small photo below, long entry of 2934 (1 pip in front of the 50).

[Mysticforex]

So Tim,

You entered after the "Broke prior high andpierced oppsing"?
Do you enter immediately, or let it retrace a bit.
What kind of spread do you have?

[TimRacette]

Originally Posted by Mysticforex »

So Tim,

You entered after the "Broke prior high andpierced oppsing"?
Do you enter immediately, or let it retrace a bit.
What kind of spread do you have?

When we trade to a 15-min 50% cleanly, I watch for the opposing 15-min to either break or pierce, then allow it to retrace to the next (micro) 50%. As for a spread, I'm trading the futures contract EuroFX typically 6E on most platforms, extremely high liquidity.

[GlassOnion]

I would like to more about this too.

[Mysticforex]

Ah, that explains my confusion, I am hard wired to think spot.
Thanks

[TimRacette]

Originally Posted by Mysticforex »

Ah, that explains my confusion, I am hard wired to think spot.
Thanks

If you haven't traded forex futures I would highly recommend checking it out. The euro is incredibly liquid and there is relatively no slippage. It is also extremely technical, which is why these levels that I use for entry have such high participation. The Emini S&P and Eurodollar make for a great set of trading vehicles.

[YanCanCook]

The Euro FX futures contract is not the EuroDollar contract. These are two different things.

[TimRacette]

Originally Posted by YanCanCook »

The Euro FX futures contract is not the EuroDollar contract. These are two different things.

Technically you are correct Yan, I just refer to it as one in the same sometimes because they track the same thing. If you pull up EUR/USD along side 6E (Euro Futures) you can see the correlation.