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Market Condition Evaluation based on standard indicators in Metatrader 5 - page 15

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And breakout may be started for GBPJPY (see image attached). It was not started yet because we understand breakout on close bar so we should wait when this bar will be closed to see possible crossing Chinkou Span line with the price on the chart.

 

Documentation on MQL5: Standard Constants, Enumerations and Structures / Indicator Constants / Indicators Lines
Documentation on MQL5: Standard Constants, Enumerations and Structures / Indicator Constants / Indicators Lines
  • www.mql5.com
Standard Constants, Enumerations and Structures / Indicator Constants / Indicators Lines - Documentation on MQL5

Pending orders were executed: sell stop for USDCHF and buy stop for EURUSD. So, we are having normal buy trade for EURUSD and sell for USDCHF right now.

But please note - any breakout/breakdown based on H1 timeframe is not very stable one: it may be many false breakout/breakdown cases. 

Documentation on MQL5: Standard Constants, Enumerations and Structures / Trade Constants / Order Properties
Documentation on MQL5: Standard Constants, Enumerations and Structures / Trade Constants / Order Properties
  • www.mql5.com
Standard Constants, Enumerations and Structures / Trade Constants / Order Properties - Documentation on MQL5

Next levels for USDCHF:

For EURUSD:

  • no levels

Breakdown is going for USDJPY on M1 timeframe (see image - red dotted line was possible lever for sell stop order), and it is just started on H1 timeframe.

 

 

Just for EURUSD and USDCHF now - it was big movement in opposite side but it is mostly related to high impacted forex news event which was happened at 13:30 GMT time (or 14:30 CET): ECB Press Conference of Mario Draghi, President of the ECB. Read/watch about by on the source here.
ECB: Webcasts: ECB monetary policy decisions
  • www.ecb.int
Ladies and gentlemen, the Vice-President and I are very pleased to welcome you to our press conference. We will now report on the outcome of today’s meeting of the Governing Council. Based on our regular economic and monetary analyses, we decided to keep the key ECB interest rates unchanged. HICP inflation rates have declined further, as...
I am just thinking that we really need some good news indicator or tool which will prevet us to trade on high impacted news events - something as 'close all the trades few minues before news'.
newdigital:
Just for EURUSD and USDCHF now - it was big movement in opposite side but it is mostly related to high impacted forex news event which was happened at 13:30 GMT time (or 14:30 CET): ECB Press Conference of Mario Draghi, President of the ECB. Read/watch about by on the source here.
We can read a little more about it here ECB fears strong euro will hit growth
ECB fears strong euro will hit growth
ECB fears strong euro will hit growth
  • www.irishexaminer.com
NEWSIrish Water manager had retired with €334k Former Waterford county manager Ray O'Dwyer, who retired with a package totalling €334,000, has been appointed to a senior management position at Irish Water. Equal parent rights for gay couples Gay couples will get equal parenting rights regardless of whether the referendum on same sex marriage...
There is good news for now - AbsoluteStrengthMarket is already uploaded to CodeBase here (in russian language sorry but it will be available in english soon). Just to remind - this is indicator to check market condition automatically in multi-timeframe way. Means: indicator is doing exactly what I described here on this thread about market conditions.  

Market condition for now (and for Monday morning).

GBPUSD:

H1 - flat 

 
H4 -  bullish

 

D1 - Bear Market Rally

 

There is nteresting situation for USDJPY.

H1 - flat

 

H4 - bearish is started on open bar. If the situation will be same on Monday morning when this bar is closed so we may have bearish breakdown

  

D1 - correction just started on open bar:

 

It may be good to watch this pair on Monday for possible breakout/breakdown 

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