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Be careful with the sideway market
Členom od Aug 18, 2017
6 príspevkov
Aug 23, 2017 at 07:16
Členom od Aug 18, 2017
6 príspevkov
USD/JPY
The deceleration in bearish momentum yesterday resulted in a bullish reversal to start today’s Asian trading session. The pair is testing the 109.25 price level and the 20-period exponential moving average. A break of these two resistance lines will provide confirmation of the uptrend. MACD still has a negative bias, however, is turning more positive. RSI has flattened below the 50 support leve
GBP/USD
The GBP/USD pair has been trading in a fairly tight price range from the 1.284 to 1.290 price level, as neither currency has been able to dominate price action. The pair has hit a resistance level at the upper bound of price range at 1.290 and retraced to also break the 20-period EMA. MACD is approaching the zero line and becoming less negative and RSI remains flat. A previous less significant resistance level is at the 1.288 price level which the pair is starting to test. A full break will represent confirmation of the reversal
SILVER
Silver prices have been bouncing along the 20-period EMA which is currently acting as a support level. The metal is also reaching the 16.92 price level which when hit on two previous occasions, resulted in a bullish move. MACD is flat just above the zero line and RSI is flat just above the 50 support level, indicating that momentum is moderately bullish. Price action will likely continue to fluctuate between the 17.16 and the 16.92 price levels.
GOLD
Gold prices have also been affected by low momentum. Price action has hit the 1288 price level and the 20-period EMA. A break of these support level will provide some momentum for the bearish move. However, the move seems unsupported by momentum indicators. MACD is flat above the zero line and RSI has a mild downward trajectory just below the overbought 70 level. Volume is low, therefore major fundamentals news is required to generate any significant move for the metal.
Členom od Feb 12, 2016
522 príspevkov
Aug 23, 2017 at 08:38
Členom od Feb 12, 2016
522 príspevkov
'Be careful with all kind of market' - sounds a bit better :)
Členom od Dec 11, 2015
1487 príspevkov
Aug 23, 2017 at 14:41
Členom od Dec 11, 2015
1487 príspevkov
BaldoN posted:
'Be careful with all kind of market' - sounds a bit better :)
True. Though consolidation market seems to be exceedingly misleading.
Členom od Aug 18, 2017
6 príspevkov
Členom od Dec 11, 2015
1487 príspevkov
Aug 27, 2017 at 12:17
Členom od Dec 11, 2015
1487 príspevkov
When it comes to consolidation it's best to open just short-term positions and close them as quickly as possible.
Členom od Apr 18, 2017
920 príspevkov
Aug 28, 2017 at 14:55
Členom od Apr 18, 2017
920 príspevkov
That’s really true; there is no way to use sideway market, I always close my chart during sideway; I start my learning process when it occurs!
Členom od Feb 12, 2016
427 príspevkov
Aug 31, 2017 at 12:40
Členom od Feb 12, 2016
427 príspevkov
Smart move @AniLorak!
Accept the loss as experience
Členom od Aug 31, 2017
10 príspevkov
Aug 31, 2017 at 14:40
Členom od Aug 31, 2017
10 príspevkov
I don't mind sideway's markets. Like people have said above, it is a good place for short term trades
Členom od Dec 11, 2015
1487 príspevkov
Sep 03, 2017 at 11:34
Členom od Dec 11, 2015
1487 príspevkov
BattleReady posted:
I don't mind sideway's markets. Like people have said above, it is a good place for short term trades
True. As long as you're careful and can figure out the support and resistance levels of the channel, why not?
Členom od Feb 12, 2016
522 príspevkov
Sep 05, 2017 at 08:49
Členom od Feb 12, 2016
522 príspevkov
Sideway market could be profitable either on short term (minutes) time frames or long term trades (daily +) :)
Členom od Dec 11, 2015
1487 príspevkov
Sep 05, 2017 at 13:29
Členom od Dec 11, 2015
1487 príspevkov
BaldoN posted:
Sideway market could be profitable either on short term (minutes) time frames or long term trades (daily +) :)
Good point. It depends on how tight (or wide, for that matter) the range is.
Členom od Feb 22, 2011
4862 príspevkov
Sep 05, 2017 at 14:52
Členom od Feb 22, 2011
4862 príspevkov
mlawson71 posted:Also it depends what kind of strategy you do tradeBaldoN posted:
Sideway market could be profitable either on short term (minutes) time frames or long term trades (daily +) :)
Good point. It depends on how tight (or wide, for that matter) the range is.
Členom od Apr 18, 2017
718 príspevkov
Sep 06, 2017 at 06:25
Členom od Apr 18, 2017
718 príspevkov
BaldoN posted:
'Be careful with all kind of market' - sounds a bit better :)
Yes, there is no certainty, it’s all about probability! Anytime market can change its direction.
Členom od Feb 22, 2011
4862 príspevkov
Sep 06, 2017 at 14:40
Členom od Feb 22, 2011
4862 príspevkov
AmDiab posted:BaldoN posted:
'Be careful with all kind of market' - sounds a bit better :)
Yes, there is no certainty, it’s all about probability! Anytime market can change its direction.
Exactly sideways market can change into raging market during seconds!
Somewhere here on MFB I read that user do not use stop loss as they are not needed as trades last couple of minutes.
That is pure nonsense, in forex anything could happen and it could happen very fast.
Členom od Sep 07, 2017
13 príspevkov
Sep 08, 2017 at 14:15
Členom od Sep 07, 2017
13 príspevkov
Just look at USDCHF a few years ago 1000pips movement in seconds
Členom od Dec 11, 2015
1487 príspevkov
Sep 08, 2017 at 14:49
Členom od Dec 11, 2015
1487 príspevkov
Nutter21 posted:
Just look at USDCHF a few years ago 1000pips movement in seconds
That was no random spike, the reason for that movement was the Swiss Bank unpegging the Franc from the Euro, causing panic.
Členom od Feb 22, 2011
4862 príspevkov
Sep 10, 2017 at 06:57
Členom od Feb 22, 2011
4862 príspevkov
mlawson71 posted:Nutter21 posted:
Just look at USDCHF a few years ago 1000pips movement in seconds
That was no random spike, the reason for that movement was the Swiss Bank unpegging the Franc from the Euro, causing panic.
yes and it moved market thousands pips in minites
Členom od Dec 11, 2015
1487 príspevkov
Sep 11, 2017 at 15:09
Členom od Dec 11, 2015
1487 príspevkov
togr posted:mlawson71 posted:Nutter21 posted:
Just look at USDCHF a few years ago 1000pips movement in seconds
That was no random spike, the reason for that movement was the Swiss Bank unpegging the Franc from the Euro, causing panic.
yes and it moved market thousands pips in minites
I remember. It was awful, a lot of companies and individual traders went under because of it.
Členom od Feb 22, 2011
4862 príspevkov
Sep 13, 2017 at 06:19
Členom od Feb 22, 2011
4862 príspevkov
Patrick1981 posted:Yes a lot of brokers were not able to close positions that were turning red with speed of light.
I lost a crap load on that spike. I had a small lot size but broker didn't close the trade until -850 pips
I recall at the end the price came back after huge drop.
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