EURUSD Technical Analysis 14.04 - 21.04 : Rally on Bearish Trend - page 7
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What is your style of talking to people? What is this style of attitude: "read vile", "muddy thoughts", "drop the booze"?
Here is an interesting situation - see that yellow cross? Where this hourly bar closes (above or below this cross), that is where price will go.
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EURUSD, H1, 2013.04.15
MetaQuotes Software Corp., MetaTrader 5, Demo
eurusd h1
This is most clearly seen on H2 and H4 timeframes - the Chinkou Span line either already crosses the price on the open bar, or very close to it.
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EURUSD, H4, 2013.04.15
MetaQuotes Software Corp., MetaTrader 5, Demo
eurusd h4 breakdown
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EURUSD, H2, 2013.04.15
MetaQuotes Software Corp., MetaTrader 5, Demo
eurusd h2 breakdown
In short - I already opened a sell ... maybe too early ...
Not too early - it's H1 timeframe - price breaks the resistance level (on the open bar so far) - and I have already +14 pips in profit
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EURUSD, H1, 2013.04.15
MetaQuotes Software Corp., MetaTrader 5, Demo
eurusd h1
Breakout starts on H4 timeframe as well - 35 pips in profit now:
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EURUSD, H4, 2013.04.15
MetaQuotes Software Corp., MetaTrader 5, Demo
eurusd h4
It is not advisable to enter the market in a flat. The signal for a possible entry (BUY) is a reversal of the EURJPY pair upwards, or confirmation by the indicators for SELL.
https://charts.mql5.com/1/327/eurusd-h8-metaquotes-software-corp.png .
Weekly analysis: the trend has not changed (there was a small reversal). The signal for BUY is on the small charts ( H2).
https://charts.mql5.com/1/349/eurusd-h8-metaquotes-software-corp.png .
Weekly analysis: The trend has not changed (there was a small pullback). BUY signal on the small charts (H2).
https://charts.mql5.com/1/349/eurusd-h8-metaquotes-software-corp.png .
This is an updated situation for the pair:
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EURUSD, H4, 2013.04.17
MetaQuotes Software Corp., MetaTrader 5, Demo
eurusd update
I closed the position with 65 pips profit.
It has been asked somewhere - why do we need to know the market conditions on H1 for example, if it is a branch on the fortunes of the week. It's very simple. Every trader's morning should start with two things:
Why begin your morning with an overview of market conditions on many pairs? In order to know which pairs you will not trade that day, which ones you probably will, and in what direction (buy or sell) and approximately when. It takes 1 or 2 hours every morning for beginners and 10 or 15 minutes every morning for experienced traders.
Sunday evening (or even Saturday - Sunday) are working days for the trader. At this time he assesses the market conditions of the previous week and makes technical analysis for the next week. For beginners this takes all weekend, for experienced traders - a few hours on Sunday evening for example.
Why do I explain this? Because many traders (especially on western forums) learn to believe in indicators. They believe in magic indicators that have small circles - if the red one is red then it's a sell, if the blue one is a buy :) If you have a lot of circles, you should use other indicators, which filter bad circles from the good ones :) :) :) And it's taught, you see! Conventional wisdom ...
It's not like that at all. The truth is, you have to know in the morning
And then the circles, or crosses, or arrows - it depends on the system that you have chosen to trade. The choice of system, of course, depends on personal preferences.