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  • #16
    The U.S. dollar slipped, while the Japanese yen hovered near a two-month low on Wednesday as investors digested the latest trade news.
    The US Dollar Index, which tracks the greenback against a basket of other currencies, was down 0.07% at 94.16 by 12:26AM ET (04:26 GMT).
    The dollar slipped after Beijing announced on Tuesday retaliatory tariffs that targeted more than 5,000 U.S. products worth $60 billion. The new tariffs would take effect on Sep 24, China’s Ministry of Finance said in a statement. The country’s commerce ministry also filed a complaint to the World Trade Organization (WTO) against the U.S., according to reports.

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    • #17
      The dollar hovered near a seven-week low against a basket of major currencies, in part as safe-haven demand for the U.S. currency ebbed on relief that tariffs the United States and China imposed on each other's goods were set at lower levels than some had feared.
      The British pound stepped back from two-month highs on caution over whether the European Union and UK can reach a Brexit deal at their ongoing summit while the New Zealand dollar jumped to three-week highs on Thursday after strong domestic GDP data.
      The dollar index stood at 94.554 (DXY) (=USD), near its seven-week low of 94.308 touched on Tuesday as its more risk-sensitive rivals held firmer.

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      • #18
        The U.S. Dollar was unchanged on Wednesday as markets awaited the conclusion of the Federal Reserve’s latest meeting, while the New Zealand Dollar jumped against the dollar on a better-than-expected business confidence report.

        The Fed is widely expected to hike interest rates later in the day. Markets also anticipate another rate hike before the year end, although the outlook for 2019 is less clear, according to analysts.

        As well as an interest rate decision, the Federal Reserve will also serve up its summary of economic projections, outlining policymakers' expectations on economic growth, inflation and unemployment.

        The U.S. dollar index, which tracks the greenback against a basket of other currencies, was unchanged at 93.73 by 11:01PM ET (03:01 GMT). The index has slipped around 3% since August.

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        • #19
          Markets Weaken With Russell 2000 Leading Lower
          That one-day bounce in the Russell 2000 last week is looking like a long time ago as yesterday finished with a cut below its 50-day MA. Technical are fading fast as relative performance began a cliff fall.
          While other indices haven't shown this same level of weakness it's a worrying start as Small Caps' typically lead. The slower channel remains intact so it's not a full on reversal yet.
          The NASDAQ 100 started brightly and looked to have generated a solid move to challenge its bull trap before sellers pushed it back to its starting point - leaving a 'gravestone doji'. While the Russell 2000 struggled yesterday, the weak finish for the NASDAQ 100 wasn't enough to register as a support break.

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          • #20
            The NASDAQ had already lost support prior to yesterday, but there was no acceleration to the downside.

            The S&P left another 'bull trap' in its wake but didn't give up (newer) channel support; it's still a long way from the long-standing summer channel - illustrated by the thin blue line.

            For today, keep an eye on the Russell 2000. It looks like it wants to lead lower and this will be bad news for other indices. If there is to be a bullish surge, then the NASDAQ 100 will be the index most likely to lead out.

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            • #21
              For intraday trading, the 1 min and 5 min you will be listening to a lot of noise M15 and above is recommended. I found this video and tutorial very useful (https://pipbear.com/price-action-pattern/important-tips-for-day-traders/)

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              • #22
                Originally posted by superdata77 View Post
                You should look for trend on 1 H chart. Use 15M chart for entry
                Yes i also agree with That

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                • #23
                  I could not trade on a timeframe less than M15. The indicators start to lie. Everything works fine on the M15 timeframe, not worse than on H1.

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                  • #24
                    Originally posted by syk1kz View Post
                    M1 is noise and useless for intraday trades, scalping however M1 is fine

                    M5 could be used to optimal entries when trading intraday but if you want true intraday price action you need to be on M15. M15 is considered the intraday timeframe that the day traders will use, google INTRADAY TRADING TIME FRAME and you will see 90% of sites and traders agree M15 is intraday, anything less or higher is not.

                    there are some good intraday threads on here with alot of peoples journals.
                    I'm doing the same now
                    it seems quite reasonable

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                    • #25
                      The most commonly used time frame on an intraday chart is 1 hour, also known as an hourly chart. Depending on your trading style and preference you can have charts as low as tick charts which is a chart that plots price every second.

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                      • #26
                        For timing your entry 5/15 is good TF. For daily road map hourly 4H

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                        • #27
                          On the m4 chart you can use all the indicators optimized for 1 day

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                          • #28
                            Originally posted by Siyan jheel View Post
                            The most commonly used time frame on an intraday chart is 1 hour, also known as an hourly chart. Depending on your trading style and preference you can have charts as low as tick charts which is a chart that plots price every second.
                            Is there any benefit to trying 59 minute chart instead of 1 hr chart? My half baked theory is that your signal would happen before the 1 hour guys get their signal. Plus, many platforms cannot even do this, so your entries will be unlike most others.

                            Just wondering is anyone has done this, and if it worked or not...

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                            • #29
                              Originally posted by mrtrade View Post
                              Every chart under 1H is considered an intra-day chart.
                              Great Thanks

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                              • #30
                                Originally posted by Edith1995 View Post
                                For intraday trading, the 1 min and 5 min you will be listening to a lot of noise M15 and above is recommended. I found this video and tutorial very useful (https://pipbear.com/price-action-pattern/important-tips-for-day-traders/)
                                Thanks mate for sharing

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