Forex Trading With Simple Setup - page 31
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Helo Ramdas,
actually, this is the tricky part.
USDX indicator is given and described for example here.
There is quite complex explanation (from economy point of view) behind the construction of the index.
My first thought after I saw this index was about JPY carry trades game.
However after studying the USDX I learned it is not that easy to build. I tried to post this on few forums but I didn't get any answer.
Pitty.
BR,
Endy
Hi Endy,
Many thanks for sharing this USDX index, i was looking for USD index, jpy and EUR index, What you said is correct about USD index. it helps to understand what is changing. USD, EUR, JPY so that one can enter in proper pair. and stay in right side of the trade.
Like USD index How can we get EUR and jpy index.? if you have it pl share
Best Regards
RamdasCurrency strength (jpy/usd/eur)
Hello,
I forgot to mention a tool or charting sowftware, which I am extensively trying to acquire, it has built in so called heat map of currency strength within.
Here is a presentation of it.
Endy
Signal on gbp to sell
there was today a signal to sell i guess! am i right???
there was today a signal to sell i guess! am i right???
Signal says so, But just ahead of News release..it could be BAD signal.
Patience and when to enter need to understand, this is require for long term stability.
yes, there will be BoE rate decission announcment today! but anyway it was good signal, and on eur/usd there is now forming a sell signall too!
To endy
i saw on your picture, in mt4 u have indicator that shows last days H and L , and todays H and L, can u please post it??
Eurjpy
I agree with Ramdas.
See how all SMA's are crowded.. Not safe setup.
No TP's on 5 mins available. One can always go for higher TF. In this case GBPUSD is hanging on 2400 SMA on 15 TF. It held more-less last couple of days..
More interesting setup was i think this morning on EURJPY.
I would like to see these kind of setups more often.
Price was slightly going up in waves, finding support on 300 SMA.
After it broke 600 SMA, I want to jump in on first sign of retracement.
TP is at 2400 SMA. And that's what happend.
Hope to be more ready next time.
I agree with Ramdas.
See how all SMA's are crowded.. Not safe setup.
No TP's on 5 mins available. One can always go for higher TF. In this case GBPUSD is hanging on 2400 SMA on 15 TF. It held more-less last couple of days..
More interesting setup was i think this morning on EURJPY.
I would like to see these kind of setups more often.
Price was slightly going up in waves, finding support on 300 SMA.
After it broke 600 SMA, I want to jump in on first sign of retracement.
TP is at 2400 SMA. And that's what happend.
Hope to be more ready next time.Hi endy,
E/J good logical trade, Funny thing is price has gives respect to sma, some times check Linechart. many times price movement apears good on line chart..SMA5 shows quite good pattern.
Usdx
Hi Ramdas and all,
you are probably aware of this, but maybe for others this will be useful:
As you mentioned many times, it is important to somehow see, what is the cause of movement of currency pair.
In case of EURUSD/GBPUSD/USDCHF (and even USDJPY), usually the USD appreciation/depreciation is the safest way to enter trade.
In other words, if you note that EURUSD/GBPUSD are getting lower and USDCHF is getting higher, and if the MA configuration is favourable, the move most likely will last longer, hence giving us good and "safe" trading oportunity.
Now, you can see this by looking at all those pairs simultanously, or you can use USDX index. The index measures strength of USD dollar based on the movement of USD cross pairs.
Addition of each pair to this index is based on economic strength of currencies being compared (naturally 10 pips movement of EURUSD is different thing than 10 pips of USDCHF (and not only of value of pip)).
Indicator can be attached to any currency pair (as it will look the same), it will firstly load required data of all needed currency pairs and calculate the index.
I attached to the indicator window 50SMA just to see relative position of the index. It has nothing to do with Ramdas's setup.
I am attaching situation from today and also the indicator.
Any comments are welcome.
BR,
EndyHi Endy,
This is what i saw USDX,
Hi Ramdas,
Amazing..
On some other forum, I saw very good MACD 4H method. That thread has now more than 4000 posts.
As people got handle on it, they asked the author if he is not from some other planet (because they learned how to use his system), are you ?
:)
BR,
Endy