GBP/JPY Performed a Double Bottom After MACD Divergence

The5ersTF

Junior member
40 5
267718

The price has performed a double bottom pattern on the D1 chart,
Also, while the price created the double bottom the MACD created a higher low, which's called MACD divergence.
The combination of double bottom and MACD divergence creates a great setup for buy position.
If the price will break the resistance above I'll look for a buy signal,
If the price will move down toward the demand below I'll buy at the demand,
For both options, the target will be the resistance at the top
 

J20

Newbie
1 0
View attachment 267718
The price has performed a double bottom pattern on the D1 chart,
Also, while the price created the double bottom the MACD created a higher low, which's called MACD divergence.
The combination of double bottom and MACD divergence creates a great setup for buy position.
If the price will break the resistance above I'll look for a buy signal,
If the price will move down toward the demand below I'll buy at the demand,
For both options, the target will be the resistance at the top
I actually need some help why is it that with the M A C D indicators that when you change the time period chat for example from five minutes to thirty minutes to signal him in a MACD lines change as well which direction should we be looking at 5 or 30 min
 

fxstrategist

Established member
604 16
The GBPJPY is in a well defined range between the 132,00 as support and the 135,00 has resistencia. The price may break in any direction, but it is currently trying to break below the 132,00 level.
 

The5ersTF

Junior member
40 5
Weekly Trade Idea For NZD/USD Week: 23-27.11.2020

Key event: NZD. RBNZ’s Governor speech


The Reserve Bank uses monetary policy to maintain price stability and to keep inflation between 1 and 3 percent on average over the medium term. The Bank implements monetary policy by setting the Official Cash Rate, which is reviewed eight times a year.

Hints of rising interest rates strengthen the currency.

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Until the speech, we expect prices to range in the actual supply zone. The speech will surely cause a break of the zone either to the next supply zone or back to support levels.​

Key Levels:​

  • Resistance 0.6940, 0.7050
  • Support 0.6780
Trend :

Bullish

Price is ranging in the supply zone between 0.6940 and 0.6890 levels. The speech will likely cause a breakout of the range.

Call to Action/Trade Idea

We will look for any opportunity to join the bullish trend. Either a retracement to previous support or a breakup of the supply zone.



image
 

FXX

Experienced member
1,264 258
policy won't change, it will likely be a non-event.
 

The5ersTF

Junior member
40 5
Weekly trade idea for USD/CAD
Week: 7-11.12.2020
Key event: CAD. Interest Rate


The interest rate at which major financial institutions borrow and lend overnight funds between themselves;

We expect a similar reading to the previous month.


887×37

Until release day, we expect a continuation of the actual trend. A negative surprising data value could reverse the actual trend direction.​

Key Levels:​

  • Resistance 1.2966, 1.3140
  • Support 1.2546, 1.2256
Trend:

Bearish

Last week, Price broke important support levels. It is now dropping towards the next support levels.

Call to Action/Trade Idea
We will look for any opportunity to join the bearish trend. Any retracement or pullback. Only an unexpected important negative release might overturn the actual trend.

USD_CAD
 

The5ersTF

Junior member
40 5
8 Mistakes New Day Traders Make

New day traders often make the same mistakes. Knowing how to avoid them can make the difference between a profitable career to a lifetime of regret.

1. Picking a Bad Broker

2. Making Too Many Trades

3. Overconfidence on One Trade

4. Sunk Cost Fallacy

5. Impatience

6. Inflexibility

7. Buying With No Volume

8. Giving in to FOMO

Click here for the full article
 
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The5ersTF

Junior member
40 5
Weekly trade idea for EUR/USD
Week: 14-18.12.2020
Key event: USD. Interest Rate


Interest rate at which major financial institutions borrow and lend overnight funds between themselves;

We expect a similar reading to the previous month.


835×26

Until release day, we expect a continuation of the actual Bullish trend. A positive surprising data value could reverse the actual trend direction.​

Key Levels:​

  • Resistance 1.2175, 1.2230
  • Support 1.2000, 1.1875
Trend:

Bullish

Two weeks ago, the price broke important resistance levels. It is now trading in a range close to a supply area.

Call to Action/Trade Idea

We will look for any opportunity to join the bullish trend. Any retracement or pullback. Only an unexpected important positive release might overturn the actual trend.



EUR_USD (4)
EUR_USD (4)1707×744 39.7 KB
 

The5ersTF

Junior member
40 5
The Lower Hanging Fruit - Forex Money Management Strategy

After struggling for a few years in forex trading, I hadn’t managed to find a solid trading concept that made sense to me or a forex money management strategy that helped me.

I did everything in my power, everything about trading that I could, but even with all that effort, I was still struggling for consistency.

I became obsessed with finding the right strategy for trading. Everything changed when I found a trader, who opened my eyes. There are a lot of people who find trading complex and boring, but if you take the time to learn it, you will find that it is quite interesting.

The lower hanging fruit is a forex money management strategy you should try to learn and use to turn a profit.

For the full article
 
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Reactions: trendie

The5ersTF

Junior member
40 5
Weekly trade idea for EUR/USD
Week: 21-25.12.2020
Key event: USD. GDP


The Gross Domestic Product Annualized shows the monetary value of all the goods, services, and structures produced within a country in a given period of time. Is a gross measure of market activity because it indicates the pace at which a country’s economy is growing or decreasing.

We expect a similar reading to the previous one.


838×30

Until release day, we expect a continuation of the actual Bullish trend. A positive surprising data value could reverse the actual trend direction.

Key Levels:​

  • Resistance 1.2280, 1.2400
  • Support 1.2175, 1.2000
Trend EUR/USD:

Bullish

Last week, the price broke important resistance levels. It is now in an expansionary bullish phase.

Call to Action/Trade Idea

We will look for any opportunity to join the bullish trend. Any retracement or pullback. Only an unexpected important positive release might overturn the actual trend.


EUR_USD (5)
EUR_USD (5)1707×760 18.7 KB
 

The5ersTF

Junior member
40 5

Weekly trade idea on EUR/USD. NFP​

Week: 4-8.01.2020

Key event: USD. Non-Farm Payroll

The number of new jobs created during the previous month, in all non-agricultural business. The monthly changes in payrolls can be extremely volatile, due to its high relation with economic policy decisions made by the Central Bank.

We expect a lower reading than the previous month.



840×29

Until Friday, we can expect a weakening of the USD against other currencies. It would require a positive surprising release for the USD to strengthen against other currencies.

Key Levels:


  • Resistance 1.2300, 1.2400
  • Support 1.2150, 1.2070, 1.2000

Trend EUR/USD:

Bullish

Price is testing 1.2300 resistance. Last week, the price closed with a bearish engulfing candlestick and MACD divergence.


Call to Action/Trade Idea

We will look for any opportunity to join the bullish trend. Given the divergence, we might see a retracement to support levels. From there we will look for buying opportunities.

EUR_USD (6)
EUR_USD (6)1707×760 64 KB
 

The5ersTF

Junior member
40 5
Trading Strategy as a Reflection of your Personality

How to find your perfect trading strategy, and be on your way to trade under conditions that are ideal for your personality and style.

A big reason many traders are unprepared for this profession is that they enter the job with one tunnel view set ahead of them.
They jump into the market because they want to make money.
The sole desire to make money prohibits many traders from looking deeper into the trading profession in order to find that there are many more layers than just buying and selling in order to turn a profit.

The layers and complexities beyond this binary fantasy give way to unique and challenging ways for each and every trader to craft personalized trading strategies and methods of trading according to their own strengths and weaknesses.

For the full article
 

The5ersTF

Junior member
40 5

Weekly trade idea on EUR/USD​

Week: 11-15.01.2021

Key event: USD. Retail Sales

The measure of the total receipts of retail stores. Changes in Retail Sales are widely followed as an indicator of consumer spending.

We expect slightly better data than last month.



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Until Friday, we can expect a little strengthening of the USD against other currencies. It would require a positive surprising release for the USD to strengthen against other currencies. This data will not likely change the actual bearish trend for the USD.

Key Levels:

  • Resistance 1.2300, 1.2400
  • Support 1.2150, 1.2070, 1.2000

Trend EUR/USD:

Bullish

The price tested 1.2300 resistance level. Last week, the price closed with a bearish correction, approaching important support levels.


Call to Action/Trade Idea

We will look for any opportunity to join the bullish trend. We might see a retracement to support levels. From there we will look for buying opportunities.



EUR_USD (1)
EUR_USD (1)1067×401 20.6 KB
 

The5ersTF

Junior member
40 5

Weekly trade idea on USD/CAD​

Week: 18-22.01.2021

Key event: CAD. Interest Rate

The interest rate at which major financial institutions borrow and lend overnight funds between themselves;

We expect a similar reading to the previous month.



887×37

Until release day, we expect a continuation of the actual trend. A negative surprising data value could reverse the actual trend direction.

Key Levels:

  • Resistance 1.2800, 1.2900
  • Support 1.2635, 1.2530

Trend USD/CAD:

Bearish

Last week, Price broke important support levels and closed with a bullish engulfing candlestick. We can expect some bullish pressure or consolidation at the beginning of next week.


Call to Action/Trade Idea

We will look for any opportunity to join the bearish trend. Any retracement or pullback. Only an unexpected important negative release might overturn the actual bearish trend.

USD_CAD (1)
 
 
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