Press review - page 643

[Sergey Golubev]

USD/JPY - strong primary bearish (based on the article)

• "The Japanese Yen is now a clear winner in its battle of the havens with the US Dollar. Global risk aversion largely rooted in the intensification of trade war between China and the US has seen USDJPY retreat very close to its lows for the year, which were made in early January."
• "Technically speaking the pair now flirts with a decisive break of 108.43 on its daily chart. That point is significant because it marks the fourth, 61.8% Fibonacci retracement of the rise up from the lows of March 2018 to the peak of October the same year. That peak has not been topped since. 
  If a break lower through it is confirmed then the Dollar will find itself in a zone of support between that point and 106.97 which is the final retracement point before the pair is looking at total negation of the entire rise."

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The chart was made on MT5 with standard indicators of Metatrader 5 together with following indicators:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• ColorSchaffTriXTrendCycle - indicator for MetaTrader 5

[Sergey Golubev]

GBP/USD Intra-Day Fundamentals: BOE Gov Carney Speaks and range price movement 

2019-06-06 09:00 GMT | [GBP - BOE Gov Carney Speaks]

• past data is n/a
• forecast data is n/a
• actual data is n/a according to the latest press release

[GBP - BOE Gov Carney Speaks] = Speech at the Institute of International Finance Spring Meeting, in Tokyo.

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From official report :

• "Capital flow volatility is rising because of the fundamental asymmetry in the international monetary financial system and the rapid rise of market-based finance. Mark Carney explains why the conventional wisdom for emerging markets to ‘keep their house in order’ is no longer sufficient to achieve sustainable capital flows – we must all play a role."

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GBP/USD: range price movement by BOE Gov Carney Speaks news event 

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Chart was made on MT5 with BrainTrading system (MT5) from this thread (free to download) as well as the following indicators from CodeBase:

• BrainTrend2Sig indicator from Codebase (free to download)
• Ichimoku Cloud - indicator for MetaTrader 5
• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• Fibo Bar MT5 - indicator for MetaTrader 5

All about BrainTrading system for MT5:

• BrainTrending indicators to download with template.
• Rules to trade manually
• How to install 

[Sergey Golubev]

Overtrading (based on the article)

Emotional Trading

The markets do not care how much effort you put in or how hard you work, nor whether you get lucky or not. It is possible to make profits or losses over long periods of time just by having unusually good or bad luck. As humans we tend to feel we either deserve something or we do not.

How to Determine if You Are Overtrading

If my description of these negative feeling strikes a chord with you, you may be overtrading. 
The second thing to consider is the statistical basis of your entry strategy.

The Pareto Principle

Here is the golden rule of overtrading: the market does not give many good opportunities.

Be Picky with Trade Entries

You cannot force the market to give you an opportunity, you can only be ready to exploit the opportunities it gives you.

How to Stop Overtrading

Try to see every day you do not trade as a day when you did not lose any money, unlike most other traders, and be proud of yourself for resisting temptation.

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• Five Most Dangerous Problems in Forex Trading - the forum thread 
• Help with Overtrading EAs - the forum thread
• Whatever you do, learn to quit  - the forum thread
• School of Pimpology - the forum thread

[Sergey Golubev]

Intra-Day Fundamentals - Dollar Index, USD/CAD and USD/CNH: Non-Farm Payrolls

2019-06-07 12:30 GMT | [USD - Non-Farm Employment Change]

• past data is 224K
• forecast data is 177K
• actual data is 75K according to the latest press release

if actual > forecast (or previous value) = good for currency (for USD in our case)

[USD - Non-Farm Employment Change] = Change in the number of employed people during the previous month, excluding the farming industry.

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From official report :

• "Total nonfarm payroll employment edged up in May (+75,000), and the unemployment rate remained at 3.6 percent, the U.S. Bureau of LaborStatistics reported today. Employment continued to trend up in professional and business services and in health care."

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Dollar Index (DXY): range price movement by Non-Farm Payrolls news events

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USD/CAD: range price movement by Non-Farm Payrolls news events

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USD/CNH: range price movement by Non-Farm Payrolls news events

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Charts were made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• ASCtrend - indicator for MetaTrader 5
• Ichimoku Cloud - indicator for MetaTrader 5
• Vortex - indicator for MetaTrader 5

==========

Same systems for MT4/MT5:

The beginning

1. ASCTrend system, the beginning, part #1
2. ASCTrend system, the beginning, part #2
3. ASCTrend system, the beginning, part #3
4. ASCTrend system, the beginning, part #4 
5. Digital ASCTrend (Digital Filters with ASCTrend system combined).
6. LabTrend (LabTrend indicators, LabTrendZigZag, templates, Labtrend EAs) - the thread

After 

1. The main AscTrend thread is this one.
2. Asctrend indicator in depth 
3. ASCTREND SYSTEM summary (good EAs included) 
4. Brainwashing system/AscTrend system (MT5) - the thread 

[Sergey Golubev]

EUR/USD - breakout with daily bullish reversal; 1.1624 is the key (based on the article)

• "The breakout keeps EUR/USD constructive while above confluence support at 1.1187. Subsequent topside resistance objectives at the 61.8% retracement of the 2019 range at 1.1393 and the objective yearly open at 1.1445 – look for a more significant reaction there IF reached. A break / close below 1.1107 would be needed to mark resumption of the broader downtrend."
• "Bottom line: Euro held long-term slope support for over two months with the breach above channel resistance this week shifting the focus back to the long-side as we head deeper into June trade. From a trading standpoint, look to reduce long-exposure / raise protective stops on a test of the upper targets here. Ultimately, we’ll favor fading weakness while above 1.1187.Review my latest EUR/USD Price Outlook for a closer look at the near-term trading levels."

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The chart was made on daily timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicators from CodeBase:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• Price prediction by Nearest Neighbor found by a weighted correlation coefficient - indicator for MetaTrader 5

[Sergey Golubev]

AUD/USD - bear market rally; 0.7068 is the key for the bullish reversal (based on the article)

• "The Australian Dollar is retesting support-turned-resistance marking the underside of a broken Descending Triangle chart formation in the 0.6978-0.7021 area. Prices bounced after finding support above the 0.68 figure, marking a bottom with the formation a bullish Morning Star candlestick pattern and a break of trend line resistance set from the mid-April swing high. A push beyond this barrier would cast doubt on the Triangle breakout’s validity as a bearish continuation signal. Neutralizing the near-term downside bias in earnest will probably require a step further to clear downward-sloping resistance capping gains since December 2018, now just above the 0.71 figure. However, zooming into the 4-hour chart hints that upside momentum may already be fading."
• "AUDUSD put in a dramatic-looking Shooting Star candlestick on a test of resistance at the 0.7008. This coupled with overt negative RSI divergence suggests the move higher has run out of steam. Confirming that the broader downtrend has commenced calls for a break of upward-sloping support guiding gains from late-May lows, now at 0.6951."
• "If a bearish reversal does materialize – cementing recent gains as corrective in the context of an ongoing decline – then there seems to be scope for significant follow-on weakness. Initial support lines up in the 0.6827-64 area, running from the January 2016 low to last month’s swing bottom. Triangle setup calls for deeper losses however, implying a measured move to the 0.67 figure."

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Chart was made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• ColorSchaffTriXTrendCycle - indicator for MetaTrader 5
• Ichimoku Cloud - indicator for MetaTrader 5

Same system for MT4:

1. Brainwashing. Trades: manually and using EAs (MT4)
2. Brainwashing EAs - the thread (MT4)
3. Brainwashing: system setup for trading manually and for EAs (MT4) - the thread 
4. Brainwashing: system development (MT4) - the thread

[Sergey Golubev]

Crude Oil - daily bearish ranging within 50.60/56.60 (based on the article)

• "Last week, oil found itself in an ugly position again, but was able to find support via the low-end of a range created during Jan/Feb. The bounce on Thursday brought with it limited follow-through to end the week, however; the price action for the week resolved in the form of a reversal candle that could set into motion some more buying in the days ahead."
• "Next week might not bring with it rip-roaring power, as oil is already failing to follow stocks higher in the same manner in which it did on the down-side. (This may be a symptom of a broader problem on the macro-front, a story for another day.) This relative weakness could change, of course, should the ‘risk-on’ theme mature."
• "Looking at the near-term technical landscape, the trend-line running lower from three weeks ago is first up as resistance. This may only prove to be minor resistance, but given how crude has acted thus far that might be all that is needed to keep a lid on a bounce."

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Chart was made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• ColorSchaffTriXTrendCycle - indicator for MetaTrader 5
• Ichimoku Cloud - indicator for MetaTrader 5

Same system for MT4:

1. Brainwashing. Trades: manually and using EAs (MT4)
2. Brainwashing EAs - the thread (MT4)
3. Brainwashing: system setup for trading manually and for EAs (MT4) - the thread 
4. Brainwashing: system development (MT4) - the thread

[Sergey Golubev]

What Facebook's Cryptocurrency Means (based on the article) 

Bitcoin/USD weekly Brainwashing/Ichimoku chart by Metatrader 5 - 

What does Facebook’s new cryptocurrency mean? According to news reports, Facebook will shortly launch Libra, a global cryptocurrency available to users of its suite of platforms (including Messenger and WhatsApp). Presumably any merchant with an account on these platforms could transact in the cryptocurrency with customers who also have accounts—for anything, such as online purchases, and physical-world purchases such as groceries and restaurants. Facebook this week revealed plans to announce details on June 18 and confirmed its cryptocurrency will be a “stablecoin” whose value will be tied to a basket of fiat currencies.

1. Facebook’s cryptocurrency will be a powerful force for good in developing countries, which is where Facebook intends to market the product.
2. Facebook will pay interest to holders of its cryptocurrency, and this will eventually lead to populist calls to repeal corporate subsidies to banks at the heart of the US banking system.

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Chart was made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• ColorSchaffTriXTrendCycle - indicator for MetaTrader 5
• Ichimoku Cloud - indicator for MetaTrader 5

Same system for MT4:

1. Brainwashing. Trades: manually and using EAs (MT4)
2. Brainwashing EAs - the thread (MT4)
3. Brainwashing: system setup for trading manually and for EAs (MT4) - the thread 
4. Brainwashing: system development (MT4) - the thread

[Sergey Golubev]

GBP/USD Intra-Day Fundamentals: UK Gross Domestic Product (GDP) and range price movement  

2019-06-10 08:30 GMT | [GBP - GDP]

• past data is -0.1%
• forecast data is -0.1%
• actual data is -0.4% according to the latest press release

if actual > forecast (or previous value) = good for currency (for GBP in our case)

[GBP - GDP] = Change in the total value of all goods and services produced by the economy.

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From official report :

• "Monthly GDP growth was negative 0.4% in April 2019, as the production sector and manufacturing sub-sector contracted. The monthly growth rate for GDP is volatile and so it should be used with caution and alongside other measures, such as the three-month growth rate, when looking for an indicator of the longer-term trend of the economy. However, it is useful in highlighting one-off changes that can be masked by three-month growth rates."

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GBP/USD: range price movement by UK Gross Domestic Product (GDP) news event 

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Chart was made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• ASCtrend - indicator for MetaTrader 5
• Ichimoku Cloud - indicator for MetaTrader 5
• Quick ZigZag plus DiNapoli - indicator for MetaTrader 5
• GMMA - indicator for MetaTrader 5
• Vortex - indicator for MetaTrader 5

==========

Same systems for MT4/MT5:

The beginning

1. ASCTrend system, the beginning, part #1
2. ASCTrend system, the beginning, part #2
3. ASCTrend system, the beginning, part #3
4. ASCTrend system, the beginning, part #4 
5. Digital ASCTrend (Digital Filters with ASCTrend system combined).
6. LabTrend (LabTrend indicators, LabTrendZigZag, templates, Labtrend EAs) - the thread 

After

• The main AscTrend thread is this one.
• Asctrend indicator in depth 
• ASCTREND SYSTEM summary (good EAs included)
• Brainwashing system/AscTrend system (MT5) - the thread

[Sergey Golubev]

Litecoin To Reach Highest In A Year (based on the article)

• "Litecoin rose above $125 today, hitting its highest in more than a year as the digital currency benefited from several tailwinds."
• "When explaining this latest rally, analysts pointed to several variables, including litecoin's upcoming halving and the strength the digital currency has shown over the last several months."

============

The chart was made with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicators from CodeBase:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• Price prediction by Nearest Neighbor found by a weighted correlation coefficient - indicator for MetaTrader 5