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pepy
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Everything posted by pepy
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EURGBP on H4 chart rejected by EMA20 and middle band, also formed big white candle. With these it is clear the pair is under bullish sentiment. RSI and Stochastic both fell to 60 and 50 but MACD is formed higher high. I think overall still bullish even both RSI and Stoch are bearish. Next target is at 0.84856
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According to the 1 hour time frame it seems this pair is under bearish sentiment, this also supported by supermath indicator which show SELL signal. Price also moving above EMA20. RSI(14) show bearsh signal with fall to around level 43. Stochastic(5,3,3) show bullish signal with rise to around level 37, not to mention lower high formed by MACD. The conclusion is that GBP USD sentiment is bearish. I vote for SELL
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Bearish engulfing pattern spotted on 1 hour time frame chart, NZDUSD also got rejection from EMA20 line and the breakout from the first support level. RSI(14) and Stochastic(5,3,3) both fell to level 21 and level 2 which is in oversold zone. Correction is possible but overall still bearish for this pair, so vote for SELL.
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USDCAD on 1 hour chart spotted rejection of pivot and the appearance of big white candle. This all indicated bullish pressure. RSI(14) rise to level 66, Stochastic (5,3,3) rise to level 78, MACD formed higher high. The prediction of USDCAD is bullish, and target towards 1.29762
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H1 chart saw that hammer formed and after that USDCHF followed by white/bullish candle. RSI is bullish with rise to level 66, Stochastic is bullish too with rise to level 80. On the other hand MACD (12,26,9) formed lower high. The conclusion for this pair is bullish with the target at most is at 0.97562
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Based on 1 hour time frame AUDUSD's price seems successfully break the lower band and also the first support level, there is a bigger chance it may fall further. EMA20 also broken. RSI(14) seems fall to level 31 and Stochastic (5,3,3) fall to around level 16. MACD also supported this one with lower low. The bias is bearish and the price may fall to 0.76055
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Big white candle spotted on 1 hour time chart, and also supermath is showing BUY signal. I can say this pair may keep rising but will face some resistance first. RSI and Stochastic spotted to rise both at 69 and 91 respectively. The conclusion for GBPJPY is bullish and target maybe at 137.20
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Supermath indicator show sell signal for Silver on 1 hour time frame, the price is now moving below pivot and EMA20 after the rejection. RSI (14) rose to level 34, Stochastic (5,3,3) rose to level 31 and lastly MACD formed higher low. The conclusion for this pair is bearish. target is at 19.365
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Big black candle found on XAU one hour chart, it seems this comodity under bearish sentiment, considering that RSI(14) fell to level 41, while Stochastic (5,3,3) fell to around level 35. I must admit also MACD formed higher low, so there might be some correction first but overall it is bearish trend.
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Well, let me start here that forex has psychological limitation, all traders which i saw their testimonial must be at least once reach the limit, even their psychological control is growing but limitation will be always exist thanks to our human's nature. But i agree with you break this limit is possible even it is actually take much more time.
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Of course it is small but it keeps growing. Retail traders gain more powers than before thanks to the internet and i think in 5-10 years later retail traders could get around 10-15% shares of the market considering that many of us from 3rd world countries trying to switch to foreign exchange. Stock is limited here, but FX is more than that.
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Some strategy could be simple than other while the others are rather complex, because it is really complex which means more indicators and more steps to be done or simply you are too much newbie to understand it. Well everyone loves simple strategy and so do i but sometimes we must add a bit complexity to increase our chance to be more accurate.
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But it doesn't mean you cannot use cut loss or manual cutting. I sometimes use manual cutting especially after few days my position is in profit or lose but doesn't reach my SL or my TP. i prefer to cut it rather than wait for my position to reach TP or SL which i've been set. To me more than 3 days is the time to cut the profit or loss manually.
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So far i think that is the only place for newbie, one of the best place which newbie shouldn't never forget to train there, the cost is relatively low if we consider out time as the cost, but if not then the cost is practically zero because you don't have to spend any kind of bucks into this account. But in the end making a living in forex is different, it needs real account and your better skills in manage the money and make profit.
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hone your trading with a demo account and a real account
pepy replied to rizal83's topic in Forex Newbies
Through practical view, i think that honing our skill in demo account is a must, especially for newbie isn't it? For experienced traders we already know about that. In my own opinion, in real account people still able to trade but the risk is bigger than what you can bear in demo account, you bet more thing in real account than in demo account. -
Why Demo Account Performance Is Often Better Than Real Account Performance?
pepy replied to abdulla1's topic in Forex Newbies
I am trying to do something like that, but to be honest when something is going wrong for many times it is hard to keep myself. Calm emotions will give us better advantage rather than the other traders, not to mention that with calming mind someone who trade in demo account usually gives better performance than panicked one in real account. -
I don't use EA anymore for some months in real trading but in demo trading i still use it just for the sake of curiosity, that is all. EA is useful but i don't really trust it, even that big bankers offer their own tailor made expert advisor and i have big amount of money maybe i will just take around 5-10% of my capital equity and invest that in expert advisor.
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But one thing that you all should know here is that forex not just as psychological game, that is a trading, a business where you get profit by buy low and sell high. This is the matter of concept which makes forex similar than typical commerce we could find around of us offline. So if forex for you i said you should done it right now and don't wait for more, especially if you have more than enough money to start this business.
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Reversal spotted on 4 hour time frame chart and there is another bullish candle followed. RSI(14) formed bullish signal and rose to around level 60, Stochastic (5,3,3) rose around level 77 and with bullish signal. MACD formed higher low. The prediction is bullish and the price may rise up to around 0.84670
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NZDUSD pair saw on 4 hour time frame the hammer formed and indicated for the reversal. Supported by Stochastic which rise to level 83 and RSI(14) which rose to 68 and gives bullish signal. MACD formed higher low. Bias is bullish and this pair may rise up to around 0.74543
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H4 chat of AUDUSD saw this pair under bullish sentiment with bullish engulfing pattern spotted. RSI(14) in this case is rising up to level 69 showing bullish signal, MACD also formed higher high while Stochastic rose to level 81 which indicated bullish signal. The price bias is bullish and may rise up to 0.774202
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The price of AUDCHF based on 30 minutes time frame also it is moving above EMA20. The price formed bullish engulfing pattern. RSI (14) observed rise to around level 53, while Stochastic (5,3,3)observed rise to level 81. The prediction for this pair is bullish and the targetted price actually at 0.74153
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Silver's price on 1 hour chart observed to break the upper band and closed below from that upper band . RSI (14) fall to level 58 while Stochastic (5,3,3) fall to around level 41. MACD(12,26,9) formed lower high. The prediction for this pair is bearish with the price seems able to fall up to around 18.794
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GBPCHF based on H1 chart under bullish pressure not to mention with bullish engulfing pattern formed following the breakout of EMA20, RSI (14) observed fall to around level 57, while Stochastic (5,3,3) fall to level 46. MACD(12,26,9) formed lower high. The pair above is bearish with the price may fall to 1.29867
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Gold based on 1 hour time frame observed the price to be bearish with the bearish engulfing pattern formed and where the price able to break the lower band. RSI (14) seems fall to around 53 . While Stochastic(5,3,3) observed to fall at around level 18. Prediction for the pair above is bearish. So i will go for SELL.