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pepy
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Everything posted by pepy
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Bullish engulfing candlestick pattern formed on AUDUSD's daily time frame with Period RSI (14) rise up to level 60 and Stochastic (5,3,3) observed to rise up to level 81. Macd (12,26,9) also support this with formed higher high. Price bias is bullish and if it penetrates the upper band it will get 0.77002 as psychological resistance.
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As we can see on daily frame AUDCHF successfully penetrated the upper band on daily frame. Price also rise today and closed above or at 0.7526. In the other hand RSI (14) successfully rise up to level 63 while Stoch rise to around level 91. Macd (12,26,9) which is the latest indicator is forming higher high. Overall, bias is bullish and the price could rise to psychological resistance at 0.76008 .
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Two morning star doji formed on silver's 1 hour time frame! , not to mention it followed by bullish engulfing candlestick pattern that penetrate the middle band. RSI (14) seems up to level 45. Stochastic (5,3,3) up to level 33. Macd (12,26,9) formed lower high. Overall, bias is bullish and the price will rise towards resistance at 19.980.
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Morning star doji formed on xau/usd's daily time frame, after that the price rose back above the middle band. Indicated more bullish pressure. Other indicators such as RSI (14) rise up to around level 51, Stochastic (5,3,3) intersect and rise to around 11 while Macd (12,26,9) formed higher high. The bias is bullish with the price may meet resistance at level 1345.
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On daily chart it seems EURCHF's price is successfully rise above MA20, so there is bigger possibility for the price to rise up to around 1.08854 and if until that time the pressure still quite high at least, then current MA100 become the next target for this pair. Overall it is very hard to predict the trend but at short term this pair is clearly influenced by buyer.
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For this pair it seems GBPJPY is trying to move below the swing cloud on daily chart. The price is still move slightly above EMA20 but want to break it so bad. Technically with the current tendency this pair seems will fall to deeper level of price, especially the bearish trend is clearly visible. So GJ predicted to be weakening to level 130.902 or lower just for today.
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USDJPY today still in correction phase. Bearish trend still clear to this pair, so it seems this pair may rise with the current condition up to around 102.901 to 104.005 only. Next, based on the price which trying to break EMA50 down the price will turn around and will be under bearish trend once again unless there is other news indicator that might change it later.
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H4 chart. GBPCHF is moving below EMA50 and EMA100, and with the current condition it seems that GBCHF is under bearish pressure on H4 chart. Stochastic also still open and rise to above level 80 and it means that the price is around overbought area indicated that the price may make its turn. With those two scenario i think the logic way is by prefer SELL since bearish trend is so clear.
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Just like USDJPY it seems that the trend of this pair(EURJPY) on daily chart, is still under bearish pressure. There is some correction to fight this trend to around level 114.002 or up to 115.00. But in the Swing Cloud area if there is rejection this correction won't last long and the price predicted to fall down and follow the trend once more.
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Bearish engulfing pattern formed on CADJPY's daily time frame, as expected the price overall under bearish trend with RSI (14) fall to around level 39 or maybe lower later. Stochastic (5,3,3) is clear with small movement down to around level 31. Macd (12,26,9) forms lowers low. Price bias is bearish with support at 76.552.
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EURGBP opened with gap but closed the gap once again in less then one hour later on H1 chart .Rsi (14) rise to level 50. Stochastic (5,3,3) rise to around level 35. Macd (12,26,9) forms higher high and it means that the bias is bullish with the price may trying to touch psychological resistance at 0.85000.
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3 inside down pattern spotted on H1 chart of AUDUSD it seems this pair also get quite serious pressure from seller with overall in bearish trend. All indicators clearly have bearish signal such as: Macd (12,26,9) forms lowers low. Rsi (14) fell to around level 38. Stochastic (5,3,3) fell to around level 25 near oversold area. If the price can break 0.76002 which is the support for today it may continue to fall up to 0.75507.
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The other commodity which silver successfully broke lower band on H4 time frame and closed below indicated more bearish movement especially with Rsi (14) which falls to around level 27, Stochastic (5,3,3) which falls to around level 7. Macd (12,26,9) on the other hand forms lowers low. Bias for this commodity is bearish with the target at 19.475 or even lower.
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On 1 hour time frame of AUDJPY, it seems audjpy formed bullish engulfing pattern followed by few bull candle indicated the price is under bullish trend. Other indicators such as Rsi(14) is rising and now at around level 70, Stochastic (5,3,3) also rise to around level 69 and Macd (12,26,9) forms higher high formation. The bias is bullish with the price go to psychology resistance at 78.002.
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Bearish engulfing patter spotted on H1 chart of AUDCHF with the price successfully broke to lower band and closed exactly below mid band. Rsi(14) fall to around level 51. Stochastic (5,3,3) fall to around level 37. Macd (12,26,9) also forms higher low. This indicated the bias is clearly bearish and the support seems located at 0.74207.
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NZDUSD on H4 chart successfully break the lower band down and closed below. RSI is fall to around level 40 while Stochastic indicated that this pair already in oversold area. Macd (12,26,9) formed lowers lows. Price bias for this pair is limited bearish with price move towards around level 0.70504.
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USDCAD clearly show the bullish symptom with formation of bullish engulfing pattern which formed on daily chart and also the price close above EMA20 indicated more pressure on this. Rsi(14) seen rise to around level 57. Stochastic (5,3,3) also rise to around level 64. Macd (12,26,9) forms higher high. The bias is bullish and with resistance for today is at 1.32855.
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Gold on daily chart successfully formed bearish engulfing pattern following by one single bearish candle. The price also break middle band and closed below. RSI (14) fall to around level 47. Stochastic (5,3,3) falls to around level 33 and Macd (12,26,9) forms higher low. This means the price bias is strong bearish. The support for this pair is located at 1327.
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GBPUSD is understandable because of its near session, as far as i know it is only 3-4 hours difference before the opening on NY session after London session opened. Overlapping market means that more people inside and a lot of people want to trade with it and the price may rise or fall in faster pace or even the zig zag pattern spotted here.
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Well let's talk about this. Do you feel satisfy to trade by using mobile phone? I bet some of you feel don't right? I know this is subjective matter. But for me trade through phone is not really satisfy. I know for simple trading that is fine but use internet connection from home is more stable and with bigger screen you can see the chart easier without need to zoom it.
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I think you will be addicted to forex only if you don't have any emotional control above it. Addicted in here means that you cannot leave forex even for seconds because yeah you are addicted, just like someone who addicted to heroin. For me addiction is the worst case, to be exact one of the worst case. If you don;t know what to do better to contact psychiatrist
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Yes, that is true logic uncle gober. Money management means we are reduce the risk and even we lose few times it doesn't mean we will end our trading because of one or two mistakes. We become resilient with the market react and what happened with us after that. Good money management which could give you something like that.
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Almost all broker do that because that is what they should offer. There are 2 ways people can earn from foreign exchange. First, they become active investor which means they should keep trade to earn if they don't then they can't earn. Second, they become passive investor. This is easy just invest in pamm and let pamm manager to do their job. It is like investment in HYIP or in Stock.
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Should Forex Brokers Accept Bitcoin or other cryptocurrency?
pepy replied to bloger90's topic in Forex Newbies
But it is what makes people can trade anonymously. This is good especially if you don't want someone to keep following your or keep tracking you. My own preference is actually real currency, but if BTC exist that would be a good alternative. The disadvantage is that BTC in forex may increase money laundering. -
And the correlation with AI? By the way AI is an expert advisor if you see what thread starter talking about. So we are talking about EA. In this case what makes EA good that we can do something automatically without our own interference, you don't have to be swayed by emotions and you can trade 24 hours technically. It is actually recommendable but i think you should see the environment first, is that possible or not.