hello guys, what do u say about my analysis on GPBUSD ? we can take an opportunity for buy because there is an awesome oscilator divergent. after that, we can look for sell entry. what do u say ?
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I have a different view of this but dont mind me as I am not really good at this, lol. In a nutshell what I see is that price broke structure where you have the word supply written. It then retested the trendline and fell. I think it has some more falling to do but I could be wrong. A possible TP for me would be a couple pips above where you started the trendline.
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hi, i appreciate ur respon ;’ )
This one is tricky because on the higher TF’s there are mixed signals. D1 is in an uptrend and I have it marked as a Buy if it breaches Friday’s high:
If this is a pullback then that would be a good entry point for me.
However, on the weekly chart it could be the start of another long-term move down:
BUT, I don’t have confirmation of a reversal yet, so I will go with what is actually happening right now, which is the uptrend.
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I take a long-term view of these things, using D1 only. On D1, as @MattyMoney points out, this is in a definite uptrend. The last two lower closes offer a potential long swing entry opportunity (I make it a rule to wait for 3 days with lower lows and lower highs, then set a buy order at the high of the third day.
Alternatively, I am also experimenting using fractals: last Wednesday was the last fractal high so if I wasn’t already long I would enter long on a breach of Wednesday’s high.
Whatever entry signal I use, it will always comply with the D1 trend.
If I had used an inside bar pattern for long entry on this I might already have been stopped out.
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Ak - your chart is hr1 so in context your thinking right side is in the couple of days up ahead.
When thinking right side it’s good to think context - so what happened Thurs past to cause the drop?
You have to think about 2 things - Gbp and Usd - not one thing (the chart).
Usd was bought re risk this past cpl of days (See Eur/Usd hr1) - no one sure why but maybe the covid numbers in China hasn’t helped - will they revert to lockdowns etc.
Then to Gbp - TA and there was a DT hr1 13th & 14th ( next day the BOE int rate announcement) - divergence on a DT or DB short term is usually picked up by algos trying to be ahead of the game.
Anyways - incoming week - on Gbp reasonable chance that buyers might be a little edgy given EG as per my post on another thread.
Speaking of divergence on oscs and risk etc - maybe have a look at the cable hr1 with willspread set on Usd/Jpy inverted to get a sense of risk pre-CB announcement.
If I had to trade this with a pistol held at my head, it would be a scalping upward trend movement, to be watched for any downward move. This pair, IMO, is the most difficult to trend trade, and in current market conditions follow economic fundamentals.
Hi, do you ever used EA, bot for your forex or crypto
no, i haven’t. what type of bot is it ?
