Market Condition Evaluation based on standard indicators in Metatrader 5 - page 31

Sergey Golubev
Moderator
114338
Sergey Golubev  

The same "ranging situation" is for USDCHF and for GBPUSD for example:

MetaTrader Trading Platform Screenshots

GBPUSD, H1, 2013.03.26

MetaQuotes Software Corp., MetaTrader 5, Demo

gbpusd h1

GBPUSD, H1, 2013.03.26, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
114338
Sergey Golubev  

The same situation is for USDJPY: ranging for M30 and flat for H1

MetaTrader Trading Platform Screenshots

USDJPY, M30, 2013.03.26

MetaQuotes Software Corp., MetaTrader 5, Demo

usdjpy m30 ranging

USDJPY, M30, 2013.03.26, MetaQuotes Software Corp., MetaTrader 5, Demo

 


 

MetaTrader Trading Platform Screenshots

USDJPY, H1, 2013.03.26

MetaQuotes Software Corp., MetaTrader 5, Demo

usdjpy h1 flat

USDJPY, H1, 2013.03.26, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
114338
Sergey Golubev  
So, I will not trade today - too risky sorry.
Sergey Golubev
Moderator
114338
Sergey Golubev  

I made quick look at some pairs and it is ramging market condition going on for most of them - example with USDCHF for now:

MetaTrader Trading Platform Screenshots

USDCHF, M30, 2013.03.27

MetaQuotes Software Corp., MetaTrader 5, Demo

usdchf m30 ramging

USDCHF, M30, 2013.03.27, MetaQuotes Software Corp., MetaTrader 5, Demo 


 I am looking for the other pairs just to understand the situation. For example: bearish correction is going on for USDJPY M30 and H1 timeframes, and it is bearish for H4 timeframe. I mean; I am not sure exactly (open bar should be closed for M30 and H1 timeframe just to be more sure about it) ... but USDJPY may be one of the best candicate for trading today.

 

more to follow 

Sergey Golubev
Moderator
114338
Sergey Golubev  

This was breakdown for EURUSD and breakout for USDCHF.

Blue dotted line of MaksiGen indicator was breakout level for possible buy stop order:

MetaTrader Trading Platform Screenshots

USDCHF, M1, 2013.03.27

MetaQuotes Software Corp., MetaTrader 5, Demo

usdchf breakout

USDCHF, M1, 2013.03.27, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
114338
Sergey Golubev  

Estimating/evaluation the market condition = market condition itself (primary/secondaty trend) + the level

yes, levels. And it is very important to watch the levels. What are the levels? They are support / resistance lines. If we are trading in timeframe less than D1 for example so all those s/r lines are moved all the time. So, it is necessary to estimate (in the morning for example) - which pair we will trade today, and watch those pairs for possible good breakout/breakdown levels (to place market orders or pending orders), and stop loss.

Do you see where I placed stop loss for USDJPY now? Look at the image (yellow line is resistance line):

MetaTrader Trading Platform Screenshots

USDJPY, M30, 2013.03.27

MetaQuotes Software Corp., MetaTrader 5, Demo

usdjpy take profit

USDJPY, M30, 2013.03.27, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
114338
Sergey Golubev  

If we are trading from inside the day (on timeframe lower than D1) so we should watch pre-selected pairs for possible good breakout levels.

Example, did you place computer game 'Warcraft"? If you click on unit on this game so which "reply" will you get from him? "ready to go!" :) Yes, and it is real reply on the price when this paice is in ranging/flat market condition - price is readu to break some stromng level any time. What is why we need to watch the levels.

Forum

Traders Joking

newdigital, 2013.01.03 14:05

"Trading forex? It is very easy. I am making good money trading forex. You do not need to know and to read anything. Just trade and make good money":

 


Sergey Golubev
Moderator
114338
Sergey Golubev  

Breakdown may be going for USDJPY - if the rpice will cross trend line (yellow color) from above to below - we can see good downtrend:

MetaTrader Trading Platform Screenshots

USDJPY, M30, 2013.03.27

MetaQuotes Software Corp., MetaTrader 5, Demo

usdjpy m30 breakdown

USDJPY, M30, 2013.03.27, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
114338
Sergey Golubev  

Some members asked about ranging and how we can know about it in exact way. So, just look at Absolute Strength indicator: this is buy and sell on the same time. Ranging:

 

And what is the flat? Flat is 'no buy and no sell' on the same time. 

Sergey Golubev
Moderator
114338
Sergey Golubev  

As we were talking about USDJPY in the morning (we pre-selected this pair and estimated the direction of the movement of the day, remember?) so this is some screenshot about:

MetaTrader Trading Platform Screenshots

USDJPY, M30, 2013.03.27

MetaQuotes Software Corp., MetaTrader 5, Demo

usdjpy m30

USDJPY, M30, 2013.03.27, MetaQuotes Software Corp., MetaTrader 5, Demo


MetaTrader Trading Platform Screenshots

USDJPY, M1, 2013.03.27

MetaQuotes Software Corp., MetaTrader 5, Demo

usdjpy m1

USDJPY, M1, 2013.03.27, MetaQuotes Software Corp., MetaTrader 5, Demo

MetaTrader Trading Platform Screenshots

USDJPY, M5, 2013.03.27

MetaQuotes Software Corp., MetaTrader 5, Demo

usdjpy m5

USDJPY, M5, 2013.03.27, MetaQuotes Software Corp., MetaTrader 5, Demo