NZD/USD Intra-Day Fundamentals: New Zealand Employment Change and range price movement
2019-02-06 21:45 GMT | [NZD - Employment Change]
if actual > forecast (or previous good for currency (for NZD in our case)
[NZD - Employment Change] = Difference in value between imported and exported goods during the reported month.
From official report :
NZD/USD: range price movement by New Zealand Employment Change news event
Chart was made on MT5 with BrainTrading system (MT5) from this thread (free to download) as well as the following indicators from CodeBase:
All about BrainTrading system for MT5:
Your Bond Strategy For 2019 (based on the article)
Chart was made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:
Same system for MT4:
AUD/USD - Slightly Bearish (based on the article)
The chart was made on MT5 with standard indicators of Metatrader 5
EUR/USD - daily breakdown (based on the article)
The charts were 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:
GBP/USD Intra-Day Fundamentals: United Kingdom Gross Domestic Product (GDP) q/q and range price movement
2019-02-11 09:30 GMT | [GBP - GDP]
if actual > forecast (or previous good for currency (for GBP in our case)
[GBP - GDP] = Change in the inflation-adjusted value of all goods and services produced by the economy.
From theguardian article :
GBP/USD: range price movement by U.K. GDP news event
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2014.05.23 17:02
Should You Exit Your FX Trade On Strength Or Weakness? (based on dailyfx article)
“You can’t control what the market does, but you can control your
reaction to the market. I examine what I do all the time. That’s what
trading is all about.”
-Steve Cohen, Hedge Fund Manager
In my experience, the more years a trader has under their belt, the more
attention they pay to the exit on their trade. It’s not that the entry
isn’t important, it’s just that there’s a direct profit impact based on
your exit. This article will breakdown two methodologies for exiting
your forex trades so that you can choose the one that aligns best with
your personality & goals.
Why Traders Neglect the Exit
As a trader, it’s easy to focus on entering the trade. After all, you’ve
got to be in it to when it and the only way to be in it is to find an
entry. And when it comes to entering into a trade, your mind is likely
to race to different outcomes about whether or not this trade will be a
home-run that “can’t fail” or whether you’re not 100% sure on the trade
and therefore, should either hold-off or enter with a smaller trade
size. For what it’s worth, regardless of your analysis, the second
attitude used as an example is the healthier approach
However, it’s probably best to take the pressure of yourself regarding
the entry. Why? Because, you likely will get at best a decent entry
unless you’re counter-trend trading. It’s an irony or paradox of trading
that most new traders fret about the entries but where they decide to
exit is the most crucial point.
Two Exit Approaches
This part is simple. As far as I’m concerned, there are only two ways
that you can decide to exit a trade (well, three if not having a plan is
a way to exit). The first method benefits short term traders and that
is exiting on strength in the direction of your entry. Therefore, if
you’re buying, you can look for clear resistance points or other methods
to exit when others are jumping in. The drawback to this methodology is
that you could be exiting as the move is just getting started.
The second method is to the benefit of swing style or longer term
traders. The preferred exit methodology for longer-term traders is to
exit on weakness or a correction in the trend that you’re entering.
Exiting on weakness has two distinct drawbacks and that is you either
get taken out on a wick low before the trend resumes and / or, you find
yourselves leaving a large portion of your paper profits on the table.
Specific Tools for Both Exit Strategies
We just discussed that you can either decide to exit your trades on
strength or weakness. To exit on strength, here are a few methodologies
you can use that I’ve found favorable over the years:
My preferred methodology is Pivot targets. In a normal uptrend, I’ll
look to exit at the weekly R1 level and in a strong uptrend, my
preferred exit is the R2 (reversed for downtrends with S1 & S2). The
other two methods have been used successfully by many traders.
Emotionally, I believe it’s harder for new traders to exit on weakness.
The reason is that it’s easy to beat yourself up for letting so much of
your paper profits go away. In order to be comfortable exiting on
strength, it’s best to not look at the chart after you exit for a few
hours because you don’t want to beat yourself for taking money out of
the market. That’s what we’re doing here in the first place!
NZD/USD Intra-Day Fundamentals: RBNZ Official Cash Rate, RBNZ Monetary Policy Statement and range price movement
2019-02-13 01:00 GMT | [NZD - Official Cash Rate]
[NZD - Official Cash Rate] = Interest rate at which banks lend balances held at the RBNZ to other banks overnight.
NZD/USD: range price movement by RBNZ Official Cash Rate news event
Same systems for MT4/MT5:
What is a spread in forex trading?Every market has a spread and so does forex. A spread is simply defined as the price difference between where a trader may purchase or sell an underlying asset. Traders that are familiar with equities will synonymously call this the Bid: Ask spread. Below we can see an example of the forex spread being calculated for the EUR/USD. First, we will find the buy price at 1.13398 and then subtract the sell price of 1.3404. What we are left with after this process is a reading of .00006. Traders should remember that the pip value is then identified on the EUR/USD as the 4th digit after the decimal, making the final spread calculated as 0.6 pips.
How to calculate the forex spread and costsBefore we calculate the cost of a spread, remember that the spread is just the ask price less (minus) the bid price of a currency pair. So, in our example above, 1.13404-1.13398 = 0.00006 or 0.6 pips.Using the quotes above, we know we can currently buy the EUR/USD at 1.13404 and close the transaction at a sell price of 1.13398. That means as soon as our trade is open, a trader would incur 0.6 pips of spread. To find the total spread cost, we will now need to multiply this value by pip cost while considering the total amount of lots traded. When trading a 10k EUR/USD lot, you would incur a total cost of 0.00006 (0.6pips) X 10,000 (10k lot) = $0.6. If you were trading a standard lot (100,000 units of currency) your spread cost would be 0.00006pips (0.6pips) X 100,000 (1 standard lot) = $6.If your account is denominated in another currency, like GBP, you would have to convert it to US Dollars.
Understanding a high spread and a low spreadIt’s important to note that the FX spread can vary over the course of the day, ranging between a ‘high spread’ and a ‘low spread’.This is because the spread can be influenced by multiple factors like volatility or liquidity. You will notice that some currency pairs, like emerging market currency pairs, have a greater spread than major currency pairs. Your major currency pairs trade in higher volumes compared to emerging market currencies, and higher trade volumes tend to lead to lower spreads under normal conditions.High spreadA high spread means there is a large difference between the bid and the ask price. Emerging market currency pairs generally have a high spread compared to major currency pairs.Low spreadA low spread means there is a small difference between the bid and the ask price. It is preferable to trade when spreads are low like during the major forex sessions. A low spread generally indicates that volatility is low and liquidity is high.Keeping an eye on changes in the spreadNews is a notorious time of market uncertainty. Releases on the economic calendar happen sporadically and depending if expectations are met or not, can cause prices to fluctuate rapidly. Just like retail traders, large liquidity providers do not know the outcome of news events prior to their release! Because of this, they look to offset some of their risk by widening spreads.Spreads can cause margin callsIf you are currently holding a position and the spread widens dramatically, you may be stopped out of your position or receive a margin call. The only way to protect yourself during times of widening spreads is to limit the amount of leverage used in your account. It is also sometimes beneficial to hold onto a trade during times of spread-widening until the spread has narrowed.
Sergey Golubev, 2017.08.22 13:12
EUR/USD - bearish ranging for direction; 1.1440 and 1.1569 are the keys for the bullish reversal (based on the article)