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Monokl Apr 23, 2019 8:11am | Post# 2781

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How to Use Fibonacci Retracement?

One of my best tool!

The levels that seem to hold the most weight are the 38.2%, 50.0%, and 61.8% levels, which are normally set as the default settings of most forex charting software.
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Monokl Apr 23, 2019 8:15am | Post# 2782

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SMA & EMA
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Monokl Apr 23, 2019 8:18am | Post# 2783

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GOLD

Nice level to watch it!
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Monokl Apr 23, 2019 8:28am | Post# 2784

Bollinger Bands

Bollinger bands are used to measure the market’s volatility. They act like mini support and resistance levels.

Bollinger Bounce

  1. A strategy that relies on the notion that price tends to always return to the middle of the Bollinger bands.
  2. You buy when the price hits the lower Bollinger band.
  3. You sell when the price hits the upper Bollinger band.
  4. Best used in ranging markets.

Bollinger Squeeze

  1. A strategy that is used to catch breakouts early.
  2. When the Bollinger bands “squeeze”, it means that the market is very quiet, and a breakout is imminent. Once a breakout occurs, we enter a trade on whatever side the price makes its breakout.

MACD

MACD is used to catch trends early and can also help us spot trend reversals.

  1. It consists of 2 moving averages (1 fast, 1 slow) and vertical lines called a histogram, which measures the distance between the 2 moving averages.
  2. Contrary to what many people think, the moving average lines are NOT moving averages of the price. They are moving averages of other moving averages.
  3. MACD’s downfall is its lag because it uses so many moving averages.
  4. One way to use MACD is to wait for the fast line to “cross over” or “cross under” the slow line and enter the trade accordingly because it signals a new trend.

Parabolic SAR

This indicator is made to spot trend reversals, hence the name Parabolic Stop And Reversal (SAR).
This is the easiest indicator to interpret because it only gives bullish and bearish signals.

  1. When the dots are above the candles, it is a sell signal.
  2. When the dots are below the candles, it is a buy signal.
  3. These are best used in trending markets that consist of long rallies and downturns.

Stochastic

  1. Used to indicate overbought and oversold conditions.
  2. When the moving average lines are above 80, it means that the market is overbought and we should look to sell.
  3. When the moving average lines are below 20, it means that the market is oversold and we should look to buy.

Relative Strength Index (RSI)

  1. Similar to the stochastic in that it indicates overbought and oversold conditions.
  2. When RSI is above 70, it means that the market is overbought and we should look to sell.
  3. When RSI is below 30, it means that the market is oversold and we should look to buy.
  4. RSI can also be used to confirm trend formations. If you think a trend is forming, wait for RSI to go above or below 50 (depending on if you’re looking at an uptrend or downtrend) before you enter a trade.

Average Directional Index (ADX)

  1. The ADX calculates the potential strength of a trend.
  2. It fluctuates from 0 to 100, with readings below 20 indicating a weak trend and readings above 50 signaling a strong trend.
  3. ADX can be used as confirmation whether the pair could possibly continue in its current trend or not.
  4. ADX can also be used to determine when one should close a trade early. For instance, when ADX starts to slide below 50, it indicates that the current trend is possibly losing steam.

Ichimoku Kinko Hyo

Ichimoku Kinko Hyo (IKH) is an indicator that gauges future price momentum and determines future areas of support and resistance.

Ichimoku translates to “a glance”, kinko means “equilibrium”, while hyo is Japanese for “chart”.
Putting that all together, the phrase ichimoku kinko hyo stands for “a glance at a chart in equilibrium.”

  1. If the price is above the Senkou span, the top line serves as the first support level while the bottom line serves as the second support level. If the price is below the Senkou span, the bottom line forms the first resistance level while the top line is the second resistance level.
  2. The Kijun Sen acts as an indicator of future price movement. If the price is higher than the blue line, it could continue to climb higher. If the price is below the blue line, it could keep dropping.
  3. The Tenkan Sen is an indicator of the market trend. If the red line is moving up or down, it indicates that the market is trending. If it moves horizontally, it signals that the market is ranging.
  4. The Chikou Span is the lagging line. If the Chikou line crosses the price in the bottom-up direction, that’s a buy signal. If the green line crosses the price from the top-down, that’s a sell signal.

Each chart indicator has its imperfections. This is why forex traders combine many different indicators to “screen” each other.


Monokl Apr 23, 2019 8:43am | Post# 2785

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NZDUSD

Short

coming to a strong support
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Monokl Apr 23, 2019 8:50am | Post# 2786

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DOUBLE TOP

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DOUBLE BOTTOM

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Monokl Apr 23, 2019 10:45am | Post# 2787

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EURCAD

Another interesting area to watch!
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Monokl Apr 24, 2019 8:46am | Post# 2788

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Such as LONG USDJPY


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KarolNowak Apr 24, 2019 9:11am | Post# 2789

USDJPY one of my favorite currency pairs to trade. Since yesterday evening there is still an open order USDJPY, waiting for a good upward movement.

Monokl Apr 24, 2019 9:38am | Post# 2790

USDJPY one of my favorite currency pairs to trade. Since yesterday evening there is still an open order USDJPY, waiting for a good upward movement.
hi KarolNowak,

nice to hear it...

Monokl Apr 24, 2019 10:38am | Post# 2791

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REVERSAL PATTERN
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Monokl Apr 24, 2019 10:39am | Post# 2792

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continuation pattern
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Monokl Apr 24, 2019 10:40am | Post# 2793

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BILATERAL PATTERN
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Monokl Apr 24, 2019 10:44am | Post# 2794

CANADA

The central bank said economic growth in the first half of 2019 was now expected to be lower than anticipated in January, due to a slowdown in Canada's oil sector, the negative impact of global trade policies and a weaker-than-expected housing sector.

It lowered its gross domestic product (GDP) growth forecast for the year to 1.2 percent from 1.7 percent in January, and said it was monitoring the impact of developments in household spending, oil markets and global trade.

THIS PROJECTION BRINGS DOVISH FOR CANADA DOLLAR

Monokl Apr 24, 2019 10:51am | Post# 2795

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Monokl Apr 24, 2019 10:57am | Post# 2796

HOW TO IDENTIFY THIN MARKETS

Prices have not moved more than 10pips in 2 hours

Price are jumping back and forth 50pips at a time.

Monokl Apr 24, 2019 11:01am | Post# 2797

NEWS TRADING

Before/after major news releases. it makes sense that markets would be thin right before a major economic data release, since most people do not want to tak a position (gamble) right before the numbers.

Prices become jumpy, spreads widen and stops out!

always take necessary precaution on SL and TP for this type trade

Monokl Apr 24, 2019 11:09am | Post# 2798

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USDCAD

reach to interesting resistance area!
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Monokl Apr 24, 2019 11:16am | Post# 2799

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GBPJPY

what nice area on daily time frame!

remember next week is Japan holiday?

What does impact to YEN?

for GBP clearly Brexit case cloudy, rumour PM May will kick out! is it truE?

always find the reason why you pick this pair!

and importantly RISK & REWARD!
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Monokl Apr 25, 2019 6:57am | Post# 2800

USE MULTIPLE TIME FRAME

TO CATCH BIRD VIEW

Once you’ve found your preferred time frame

 

  1. Go up to the next higher time frame.
  2. Then make a strategic decision to go long or short based on the direction of the trend.
  3. Then return to your preferred time frame (or lower) to make tactical decisions about where to enter and exit (place stop and profit target).



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