Market Condition Evaluation based on standard indicators in Metatrader 5 - page 217

Sergey Golubev
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But this pair is very dangerous one. Because of sudden movement.

Yes, EURGBP is very good for scalping and martingale on low timeframes.

But suddenly the price is going on quick uptrend/downtrend which is very bad for martingale and scalping.
Very bad? Why?
Because EA may hit stop loss or we may get margin calls.

Example:



Sergey Golubev
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Sergey Golubev  
That's all news for today.

Next time we will speak about the other pairs (more to follow).
Muhammad Syamil Bin Abdullah
1542
Muhammad Syamil Bin Abdullah  
Sergey Golubev:

But this pair is very dangerous one. Because of sudden movement.

Yes, EURGBP is very good for scalping and martingale on low timeframes.

But suddenly the price is going on quick uptrend/downtrend which is very bad for martingale and scalping.
Very bad? Why?
Because EA may hit stop loss or we may get margin calls.

Example:




There's EA specifically coded to trade this pair but on low liquidity period, mostly on session before Australian open with scalping and martingale type trading.

But if trade EURGBP in other session it will kill off account easily with its crazy move.

Sergey Golubev
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Sergey Golubev, 2017.06.04 20:32

Which currency pair to trade (based on the article)


The #1 Factor to Use in Deciding Which Pair(s) to Trade


  1. "Another crucial factor is trend, or momentum (they are essentially the same thing). The major currencies such as the U.S. Dollar, Euro and Japanese Yen, have, in recent years, shown a greater probability to move in the direction of their long-term trends. One good rule of thumb in trading major currency pairs is asking yourself, is the price higher or lower than it was 3 and 6 months ago, and trading mostly or entirely in the same direction as any long-term movement, if it exists."
  2. "If you are trading only during Asian business hours, you will probably find that your best opportunities will involve Asian currencies such as the Japanese Yen and Australian Dollar. I urge you to consider whether you can develop a method to trade longer time horizons, as otherwise you could be missing other opportunities while you are asleep, the same way I missed out on USD/JPY opportunities in 2012. If I had the wisdom to trade daily charts back then, I could have profited from that big movement in the Yen very easily, even at night while I was asleep, with traders in Tokyo doing the heavy lifting for me!"
  3. "Finally, if you watch an economic calendar to see when the major central bank or most important economic data releases are scheduled for the major currencies, you can see that if you are in a trade before those releases, those releases might provide you with the volatility you need to turn your trade into a big winner, or at least show you where some volatility is likely to appear."

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Sergey Golubev, 2017.06.06 08:15

AUD/USD Intra-Day Fundamentals: RBA Rate Statement and Cash Rate, and range price movement 

2017-06-06 05:30 GMT | [AUD - Cash Rate]

  • past data is 1.50%
  • forecast data is 1.50%
  • actual data is 1.50% according to the latest press release

if actual > forecast (or previous one) = good for currency (for AUD in our case)

[AUD - Cash Rate] = Interest rate charged on overnight loans between financial intermediaries. 

==========

From official report:

  • "At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent."
  • "The broad-based pick-up in the global economy is continuing. Labour markets have tightened further in many countries and forecasts for global growth have been revised up since last year. Above-trend growth is expected in a number of advanced economies, although uncertainties remain. In China, growth is being supported by increased spending on infrastructure and property construction, with the high level of debt continuing to present a medium-term risk. Commodity prices are generally higher than they were a year ago, providing a boost to Australia's national income. The prices of iron ore and coal, however, have declined over recent months as expected, unwinding some of the earlier increases."

==========

AUD/USD M5: range price movement by RBA Cash Rate news event



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Sergey Golubev, 2017.06.07 08:05

AUD/USD Intra-Day Fundamentals: Australian Gross Domestic Product and range price movement 

2017-06-07 02:30 GMT | [AUD - GDP]

if actual > forecast (or previous one) = good for currency (for AUD in our case)

[AUD - GDP] = Change in the inflation-adjusted value of all goods and services produced by the economy. 

==========

From official report:

  • "The Australian economy grew by 0.3% in seasonally adjusted chain volume terms in the March quarter."
  • "Compensation of employees increased 1.0% and total corporations gross operating surplus increased 6.2%."

==========

AUD/USD M5: range price movement by Australian Gross Domestic Product news event



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Sergey Golubev, 2017.06.09 15:12

USD/CAD Intra-Day Fundamentals: Canada Employment Change and range price movement 

2017-06-09 13:30 GMT | [CAD - Employment Change]

  • past data is 3.2K
  • forecast data is 11.5K
  • actual data is 54.5K according to the latest press release

if actual > forecast (or previous one) = good for currency (for CAD in our case)

[CAD - Employment Change] = Change in the number of employed people during the previous month. 

==========

From winnipegfreepress article:

  • "Unemployment rate: 6.6 per cent (6.5).""Employment rate: 61.5 per cent (61.4)."
  • "Labour force participation rate: 65.8 per cent (65.6)."
  • "Number unemployed: 1,288,900 (1,265,000)."
  • "Number working: 18,365,700 (18,311,200)."

==========

USD/CAD M5: range price movement by Canada Employment Change news event


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Sergey Golubev, 2017.06.14 07:48

NZD/USD Intra-Day Fundamentals: New Zealand Current Account and range price movement 

2017-06-13 23:45 GMT | [NZD - Current Account]

  • past data is -2.42B
  • forecast data is 0.95B
  • actual data is 0.24B according to the latest press release

if actual > forecast (or previous one) = good for currency (for NZD in our case)

[NZD - Current Account] = Difference in value between imported and exported goods, services, income flows, and unilateral transfers during the previous quarter. 

==========

From official report:

  • "New Zealand's seasonally adjusted current account balance was a $2,836 million deficit in the March 2017 quarter ($1,143 million larger than the December 2016 quarter's deficit)."
  • "For the year ended March 2017, the current account deficit was $8.1 billion (3.1 percent of GDP; it was 3.1 percent of GDP for the March 2016 year)."

==========

NZD/USD M5: range price movement by New Zealand Current Account news event



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Sergey Golubev, 2017.06.14 07:57

USD/CNH Intra-Day Fundamentals: China Industrial Output and range price movement 

2017-06-14 03:00 GMT | [CNY - Industrial Production]

if actual > forecast (or previous one) = good for currency (for CNY in our case)

[CNY - Industrial Production] = Change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities. 

==========

From MarketWatch article :

  • "Industrial output growth in China held steady in May following a strong start to the year, data official data showed Wednesday."
  • "Value-added industrial output, a rough proxy for economic growth, in May rose 6.5% from a year earlier, the same pace as in April, the National Bureau of Statistics said. The increase was slightly above a median forecast of 6.4% growth from a Wall Street Journal poll of 11 economists."

==========

USD/CNH M5: range price movement by China Industrial Output news event


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Forecast and levels for CAC 40

Sergey Golubev, 2017.06.15 11:56

Quick Technical Overview - CAC 40: bearish ranging within Ichimoku cloud; 5,180 is the key

Daily price is broke 5,238 support level to below for the bearish reversal to be started. If the price breaks 5,180 support level on daily close bar so the price will be located on the bearish area of the chart with 4,980 support level as a nearest daily bearish target, otherwise - ranging within Ichimoku cloud.

Resistance
 Support
5,1805,320
4,9805,341