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pepy
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Everything posted by pepy
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Three inside down pattern is formed on 1 hour time frame chart of EURUSD. The price broke the lower band and closed below. RSI (14) seems fall down to around level 53. Stochastic (5,3,3) also observed to fall down to level 24. MACD on the other hand is quite good with forming higher low. For now i think this pair will be under bearish sentiment.
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At 1 hour time frame chart GBPUSD formed a bearish engulfing candlestick pattern. Prices dropped and also successfully able to penetrate the lower band. Other indicators such as RSI(14) fall down to the level around 44, Stochastic (5,3,3) descends to level 38 and i think this pair is under bearish sentiment so i will vote for SELL.
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Bullish engulfing candlestick pattern formed on EURCHF 1 hour chart with the price able to went back into the middle band. In this case i see RSI is rising to level 43, Stochastic also do the same with rise to level 36, what's better MACD formed higher high. Bias at the moment is a strong bullish with the price may rise towards psychological resistance at 1.09002.
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Morning star is formed on the USDJPY pair 1 hour time frame chart and the price seems able to hold its position above the upper band. Talking about the indicators, RSI(14) observed to rise to around level 58, while Stochastic (5,3,3) rose to level 29. Macd (12,26,9) formed higher high. The bias is potentially bullish with the target for this is at around 101.500.
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Three inside down pattern formed on XAU's H1 time frame chart. Price successfully penetrate the middle band and closed below. Other indicators show bearish signal.RSI (14) observed to fall down to level 51. Stochastic (5,3,3) also fall down to level 11. Macd (12,26,9) formed higher low. Bias is bearish and it seems the price will descend up to the lower band line at 1340.
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Three inside down pattern formed in XAG's 4 hour time frame. XAGUSD price seems fall down to near EMA10 and also able to cut EMA25. RSI (14) seems fall down to level 45. Stochastic (5,3,3) fall down to level 23. Macd (12,26,9) formed lowers low. Bias for this pair is bearish with the price fall towards support level which is in the lower band at 19,600.
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I think you already told everything here @myregister. I know the fact that broker like that cannot make much money and also to be honest they are harder to play with. One thing which i don't like about that kind of broker is that dealing desk main earning is from trader's loss and that is not a great benefit for us.
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How the CPI Economic Indicator Impacts Forex Trading
pepy replied to abdulla1's topic in Forex Articles
Yes, you are right, middle class is what consume mostly of their income around 70-80% while the rest for saving if i don't make any mistake. But CPI is the indicator it has some flaws and some people criticize for what it lacks. Overall, CPI is enough and has been used for more than 20 years to see how the consumerism happening in one country. -
You don't have the boss to command you. Well this is certainly true but remember the market is what dictate us, we follow it without any question for the sake to get salary, well not really but that is profit, right? I also agree that we need smaller capital here just with hundred dollars people can start to earn some bucks here per month.
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But it doesn't mean you can make profit from that, just say yes that you spend lots of time in forex, is that mean you will be someone who gain experience of how to make profit in forex? Not always. In fact just like what thread starter here said not everyone can earn profit, this is true and sad fact about forex but even like that people still want to invest here.
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Forex: Why Psychiatrists Make Better Traders Than Expert Economists?
pepy replied to abdulla1's topic in Forex Articles
It will be still like that economist or psychiatrist won't make much different if both of them are competent with trading, forex is different but economic knowledge would help you a lot especially later, and also fx is not all about economy but it is also about politics as you can see what happened with brexit which is pure political. -
You mean the index right, but yes it still divided people prefer one while prefer the others in this case one prefer forex while the others prefer stock. But from what i see if we are talking about the marketing right now, fx marketing is way better globally especially through internet while, stock just affect the local or at least in regional scale for the marketing but the real effect it is global just like fx.
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Huh? That is one of the worst thing i've ever seen in my life so far. Futures really show some promise but in fact that is not really good even if we want to compare it with spot, Spot trading means instant or near instant trading which make is more compatible with modern platform such as internet, because you connect to the market in very fast way.
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Huh? That is one of the worst thing i've ever seen in my life so far. Futures really show some promise but in fact that is not really good even if we want to compare it with spot, Spot trading means instant or near instant trading which make is more compatible with modern platform such as internet, because you connect to the market in very fast way.
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There are so much reason why you all here should trade in foreign exchange, it is not just because it promises us more profits with its big market, also its volatility but also forex has flexibility which is greater rather than other similar business could offer for example Stock or commodity futures. Traders also teach us to be responsible to what we did through its risk management and if you love economy you can learn while earn, learn like know what drives the global economy and so on.
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In future forex would be promising even now it still promising and once the world more connected especially with those rising countries in African continent and several countries in Asia, the market would be more crowded and daily turnover is keep increasing even there is some falling down thanks to global crisis. But to make forex as main job is depend on what you call as main job.
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It is a breakthrough and let me make it clear that what i want to say here is copy trading or social trading. I know the concept seems not new or something like that, but it is a breakthrough, no single broker so far i know apply that before etoro, it is great concept where we can collaborate with the others to achieve better result when analyze the market, or simply copy to someone's strategy if that trader allow you to do that.
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Mistakes that Forex traders are likely to make.
pepy replied to mody.saied's topic in Forex General Discussion
I know about emotions, that is one of the stronger point which drives people to make profit, join forex, or even lose their money in fast manner or in slow one. But even big traders lose, this is what i want to know. Is lose some kind of strange fate where we cannot avoid, well i know we can avoid it in most of our trading but someday we will be lose, no matter how experienced we are. -
In the end real account will be the place for us myregister, also one of my favorite place is real account, because of its capability producing REAL profit not like demo account where you cannot produce profit even you make "profit". But in the end both of those account has its own purpose which we cannot replace, actually those account complemented each other.
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If we look carefully, it seems that the bearish movement of USDJPY on daily chart has been hampered on level 100.833, numerous times the movement cannot pass this level, so this level could be a new support. If the price can't break 100.833 then the price will fall and could continue and this movement supported by MACD which forms lower low, and RSI(14) fall down to level 50, but Stochastic (5,3,3) seems rise even near overbought area so it may fall later too.
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Correction observed in this morning, but the movement of GBPCHF now already in bearish trace, and predicted to continue its movement. The closest target for this GBPCHF's movement probably the lowest point of July which could be attained in short term. RSI(14) and Stochastic(5,3,3) are agree with both respectively fall to level 34 and 67.
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Up to now the trend on daily chart of EURJPY still bearish. Even last weekend there aren't much movement and the price tend to be flat, but the price predicted to gain its bearish momentum and will be back this week. The price at this current condition may fall to around level 112.005 since price also can't break EMA50 plus Stochastic and RSI(14) are pretty flat with MACD forms lower high.
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EURCHF's price on H1 chart seems moving stronger than before and is getting closer to MA100. From the previous history it seems MA100 become a good resistance and able to turn the upward trend to downward trend. Predicted that MA100 still become a strong resistance which cannot break so the price seems will be back down as this also supported with RSI(14) on its overbought zone and Stochastic which fell to 76.
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On daily frame,EURGBP successfully break the higher price and this means there is bigger potential for this pair to keep rising even it seems that there is some hindrance with the price may fall once again. The other indicators overall supports bullish or rising movement with RSI(14) ascend to level 48 and Stochastic rise to level 57. The next target seems to be at 0.87002
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On H4 chart it seems USDCHF is moving sideways up to now , but today it has a bit difference with the price is trying to rise and break plus closed above MA100. Stochastic and RSI seems mixed, with Stoch is rising while RSI is falling, so it means the trend is not under one trend and have bigger chance to make its sideways movement back.