Market Condition Evaluation based on standard indicators in Metatrader 5 - page 18

Sergey Golubev
Moderator
114338
Sergey Golubev  
So, primary trend for GBPUSD H1 (and for H4 and D1 as well) is bearish. But secondary ... I have no idea sorry. It depeneds where Chinkou Span line will go to.
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
Sergey Golubev
Moderator
114338
Sergey Golubev  

That is why I said that "someone is moving the price for GBPUSD" - we can see it here (GBPUSD M1):

 

I do not like to trade GBPUSD :)

Sergey Golubev
Moderator
114338
Sergey Golubev  

I created sell strop order at the price 1.5566 ... seems - breadown for GBPUSD.

We need the thread for forecasting of the price movement :) 

Sergey Golubev
Moderator
114338
Sergey Golubev  

Levels for GBPUSD for now:

  • possible sell stop order at 1.5532
  • possible buy stop order at 1.5576 

Sergey Golubev
Moderator
114338
Sergey Golubev  

Гзвфеу for GBPUSD for now:

  • possible sell stop order at 1.5546
  • possible buy stop order at 1.5579 
Sergey Golubev
Moderator
114338
Sergey Golubev  

Next update - see levels on the image. I call this situation as "ready to go" :)

 

Sergey Golubev
Moderator
114338
Sergey Golubev  

This is updated levels (see red dotted line and blue dotted line for values):

 

Sergey Golubev
Moderator
114338
Sergey Golubev  

If we are talking about market condition so I am suggesting one indicator which is monitoring the spread. Indicator is here to download. Strongly recommended especially during high impacted news events.

 

Sergey Golubev
Moderator
114338
Sergey Golubev  

Possible breakout for EURUSD may be soon (H1 timeframe). But we need to wait for 1 or 2 next bars to be closed just to be sure about it.

 

Sergey Golubev
Moderator
114338
Sergey Golubev  

That is why we need to trade or evaluate the market condition on close bar only :) Breakout for USDCHF M1 timeframe: