Market Condition Evaluation based on standard indicators in Metatrader 5 - page 37

Sergey Golubev
Moderator
114338
Sergey Golubev  
newdigital:

And it may be breakdown soon for AUDUSD H4 timeframe


So, I opened 4 trades - for EURUSD, USDCHF, GBPUSD and AUDUSD 

But market condition for EURUSD is in ranging for M30 and in primary bullish for H1. For USDCHF: ranging for M30 and bearish for H1. It means: if we will see breakdown for EURUSD H1 together with breakout for USDCHF H1 - it will be primary trend reversal of those pairs on H1 timeframe. So, it may be risky to open sell for EURUSD and buy for USDCHF for now. 
Sergey Golubev
Moderator
114338
Sergey Golubev  

As to GBPUSD so it is real breakdown is going on for H1:

MetaTrader Trading Platform Screenshots

GBPUSD, H1, 2013.04.04

MetaQuotes Software Corp., MetaTrader 5, Demo

gbpusd breakdown

GBPUSD, H1, 2013.04.04, MetaQuotes Software Corp., MetaTrader 5, Demo


So, it is primary bearish and breakdown - means: primary and secondary trend are going to same direction (which is very good situation). My open trade is having 25 pips in profit for equity. 

I will manage  this GBPUSD trade using BrainTrending system here.

Sergey Golubev
Moderator
114338
Sergey Golubev  
newdigital:

As to GBPUSD so it is real breakdown is going on for H1:


So, it is primary bearish and breakdown - means: primary and secondary trend are going to same direction (which is very good situation). My open trade is having 25 pips in profit for equity. 

I will manage  this GBPUSD trade using BrainTrending system here.

Because what is the main idea to estimate market conditon in the morning? We are estimating the pairs to trade and the direction of this pair. Why? To trade this selected pairs with pre-selected ditection (buy or sell) using some other system - you can use any system you like, but I will use BrainTrending system. 

Sergey Golubev
Moderator
114338
Sergey Golubev  

EURUSD:

  • stop loss = 1.2853; 

  • second take profit level = 1.2804 

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
Sergey Golubev
Moderator
114338
Sergey Golubev  

USDCHF:

  • stop loss level = 0.9443
  • first take profit level = 0.9480
  • second take profit level =  0.9499

--------- 

AUDUSD and GBPUSD - I am "processing" the trades for this pairs using BrainTrending system here

Sergey Golubev
Moderator
114338
Sergey Golubev  
newdigital:

EURUSD:

  • stop loss = 1.2853; 

  • second take profit level = 1.2804 

First take profit level was taken with 2 pips in profit - better than nothing :)
Sergey Golubev
Moderator
114338
Sergey Golubev  

The other trade was closed for EURUSD with +15 pips in profit by second take profit level (when first trade for EURUSD was closed by first tp level so I opened the other trade and it was closed now by second tp level).

So, this is 15 + 2 = 17 pips in profit for EURUSD. 

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
Sergey Golubev
Moderator
114338
Sergey Golubev  
USDCHF was closed by second tp level with +19 pips in profit.
Sergey Golubev
Moderator
114338
Sergey Golubev  

For the trades who just started to trade - it is not too late for EURUSD and USDCHF - good movement is going for right now and if you want tpo open any trade - do it for USDCHF H1 timeframe (buy). Because breakdown is finishing for EURUSD H1 and H4 timeframes but it is "on the middle of the road" for USDCHF.

Just an advice. 

MetaTrader Trading Platform Screenshots

USDCHF, H4, 2013.04.04

MetaQuotes Software Corp., MetaTrader 5, Demo

usdchf h4 breakout started on open bar

USDCHF, H4, 2013.04.04, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
114338
Sergey Golubev  
If the price will break 1.2781 resistance level (for EURUSD) so we can open sell to take the other few pips in profit.