Market Condition Evaluation based on standard indicators in Metatrader 5 - page 33

Sergey Golubev
Moderator
114292
Sergey Golubev  

Do you know what are the most problems for traders? Why some of them are losing money? There4 are a lot of reasons ... just about some of them:

  • "I want to trade". When you estimated in the morning that you will not trade this pair (or all the pairs) so why did you decide to trade after that? :)
  • "I do not need to place stop loss because I am always near my PC". It is the other mistake. I remember - I lost most part of my deposit on Germal election somewhere in 2004 or 2005 ... it was very good lesson for me: always place stop loss. ALWAYS.
  • "I am affraid for losses". It is the other mistake - losses are the part of this "game" namely forex. Do not be affraid to lose.
  • "I do not need MM". The other mistake - Money management (MM) should be the part of any trading style even if you are not using special tool. Classical approach for MM is the following: 0.1 lot for every 1K deposit with one trade per pair only. Example: if you have deposit 2,000 dollars so you can open one trade with lot size = 0.2 - no more. Or 2 trades - 0.1 for one pair and same 0.1 for the other pair. This is classical way of MM using. Of course, there are many kinds of MM and the traders are using a lot of approaches for it - but it is the other story (may be - I will open the thread about MM on the future).

Sergey Golubev
Moderator
114292
Sergey Golubev  

This is update for USDCHF for now - we see that the price is inside Ichimoku cloud for ranging market condition ... 21 pips in profit anyway but it is exceptional case: it is very risky to trade from inside Ichimoku cloud - if cloud is wide enough so we can trade is as "from inside the channel" for example ....

MetaTrader Trading Platform Screenshots

USDCHF, H1, 2013.03.28

MetaQuotes Software Corp., MetaTrader 5, Demo

usdchf h1 update ranging

USDCHF, H1, 2013.03.28, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
114292
Sergey Golubev  

EURUSD was in more ranging situation for today - my trade was closed in 37 dollars only in profit. AUDUSD is having 2 pips by equity for now (I did not close this trade).

That's all news for today. 

Sergey Golubev
Moderator
114292
Sergey Golubev  

I am trying to find good pairs/direction to trade for today but the situation is similar with yesterday - ranging. 

EURUSD - it may be breakout soon

MetaTrader Trading Platform Screenshots

EURUSD, M30, 2013.03.29

MetaQuotes Software Corp., MetaTrader 5, Demo

eurusd m30 may be breakout

EURUSD, M30, 2013.03.29, MetaQuotes Software Corp., MetaTrader 5, Demo


and it may be breakdown for USDCHF

MetaTrader Trading Platform Screenshots

USDCHF, M30, 2013.03.29

MetaQuotes Software Corp., MetaTrader 5, Demo

usdchf m30 may be breakdown

USDCHF, M30, 2013.03.29, MetaQuotes Software Corp., MetaTrader 5, Demo

Those possible breakout/breakdown is not for now ... this is for half an hour or 1 hour later - Chinkou Span line should cross the price on open bar first, and after that - it should cross the price on close bar. And after that only we can be fully sure about those breakdown/breakout. So, waiting ...  


Sergey Golubev
Moderator
114292
Sergey Golubev  

And it is very interesting situation for GBPUSD now: Chinkou span line is going together with the price on historical data. I call "this pattern" as the following: "almost ready for everything" :) It means - price can make quick move to any direction in any time.

MetaTrader Trading Platform Screenshots

GBPUSD, M30, 2013.03.29

MetaQuotes Software Corp., MetaTrader 5, Demo

gbpusd m30

GBPUSD, M30, 2013.03.29, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
114292
Sergey Golubev  

Breakdown is started for USDCHF but on open bar sorry, If the price will cross all 2 criss/cross trendlines (s/r lines) on close bar so we may be good downtrend

MetaTrader Trading Platform Screenshots

USDCHF, M30, 2013.03.29

MetaQuotes Software Corp., MetaTrader 5, Demo

usdchf m30 breakdown on open bar

USDCHF, M30, 2013.03.29, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
114292
Sergey Golubev  

Same situation for EURUSD - breakout on open bar

MetaTrader Trading Platform Screenshots

USDCHF, M30, 2013.03.29

MetaQuotes Software Corp., MetaTrader 5, Demo

usdchf m30 breakdown on open bar

USDCHF, M30, 2013.03.29, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
114292
Sergey Golubev  
This is bank holiday for German EUR, CHF, GBP and CAD ... that is why - flat for now.
Sergey Golubev
Moderator
114292
Sergey Golubev  
EURUSD and USDCHF are in flat but Chinkou Spam line is indicating the reversal soon for secondary trend (few pips in profit as a max sorry). If it will be happened so we will have ranging market condition once again.
Sergey Golubev
Moderator
114292
Sergey Golubev  
newdigital:
EURUSD and USDCHF are in flat but Chinkou Spam line is indicating the reversal soon for secondary trend (few pips in profit as a max sorry). If it will be happened so we will have ranging market condition once again.
EURUSD - in ranging, USDCHF - ranging or flat, GBPUSD - flat. This is not good day for trading sorry :(