Credit Agricole: 'Where To Sell Euro Relief Rally? - Post-FOMC should push USD funding costs higher thereby dragging EUR/USD lower'

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2015.06.17 07:11

UBS for EUR: 'Greece Closer To The Brink' (based on efxnews article)

Should the Greek government and its international partners fail to reach an agreement in the emergency meetings scheduled for the coming days, a further escalation in the crisis would seem likely, argues UBS.

"This could well include changes to the ECB's provision of Emergency Liquidity Assistance (ELA) and capital controls, which would likely destabilise sentiment and put a heavy burden on the Greek economy, the banking system, and government finances – while not necessarily prompting the Syriza government to agree to Troika demands," UBS adds.

Forum on trading, automated trading systems and testing trading strategies

How to Start with Metatrader 5

Sergey Golubev, 2015.06.17 15:42

Just good new article: Identifying Trade Setups by Support, Resistance and Price Action

• Introduction
  
• 1. Looking at Support and Resistance
• 2. Identifying High-Probability Setups from Price Action
• 3. MQL4 Code for Price Action Setups
• 4. Combining Support/Resistance with Price Action

• Conclusion

This article covers a trading methodology that can be used in any Forex, stock, or commodity market, as well as MQL4 code examples that can be used in an Expert Advisor based on this methodology.

Price action and the determination of support and resistance levels are the key components of the system. Market entry is entirely based on those two components. Reference price levels will be explained along with effective ways of choosing them. The MQL4 examples include parameters for minimizing risk. This is done by keeping market exit references and stops relatively close to the entry prices.

There is an additional benefit of allowing higher volume trades, regardless of account size. Lastly, options for determining profit targets are discussed, accompanied by MQL4 code that enables profitable market exit during a variety of conditions.