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  • #1,200,661
  • Oct 18, 2021 1:12pm Oct 18, 2021 1:12pm
might need 1609 before continue up.
Founder of Sutherland Wave Principle
  • #1,200,662
  • Oct 18, 2021 1:12pm Oct 18, 2021 1:12pm
Quoting Mcbeaners
{quote} text book - that's how it read to me. as for me knowing rsi - i'm always open to someone showing me something different. i know about divergence. rsi and similar are just based on ma's. learn to use ma's would be my first thougtht.
No trader should be using MA's alone as a tool for divergence. The best indicator to trade divergence is the Moving Average Convergence Divergence (MacD).
  • #1,200,663
  • Oct 18, 2021 1:17pm Oct 18, 2021 1:17pm
Quoting Robinhood1
{quote} totally agree. Can you recommend a chart platform.
I personally use the TD Ameritrade think or swim charting platform. I notice a lot of other traders use trading view. I think those are free or fair in price.
  • #1,200,664
  • Oct 18, 2021 1:33pm Oct 18, 2021 1:33pm
I don't think it was ever proved that MT4 is the reason people lose money, or that changing to other platforms would help.
Follow your guts, if you want to lose your money...
  • #1,200,665
  • Oct 18, 2021 2:25pm Oct 18, 2021 2:25pm
Quoting JotaP
I don't think it was ever proved that MT4 is the reason people lose money, or that changing to other platforms would help.
Can MT4 detect your strategy?Of course, Just has to do a backtest on your MT4 plus memorize your entries. If your strategy is average it won´t bother trading against you, failure is garanteed on your own. Stop hunting is not performed by one only broker, it happens all the time. You cannot suscribe to MT4 unless you are a broker, ummm......If there is an independent chart platform, you can use it and trade using MT4/5. This way your strategy is not revealed and then they have no other choice than trade against you all the time which is not a garranty to beat you according to account size plus trading positions (leverage). I have not found an independent platform because charts have to be plugged in the same hub for the actual price trading. So its a monoploy. Not easy to prove. Who knows the coca cola formula?
POSTMASTER
  • #1,200,666
  • Oct 18, 2021 2:35pm Oct 18, 2021 2:35pm
Quoting JotaP
I don't think it was ever proved that MT4 is the reason people lose money, or that changing to other platforms would help.
MT4 and MT5 now is the most popular forex trading platform. It is not a reason why most of the people lose money. It is a very simple chart, and it is easy to use. Overall all software charts can be learned they are not that hard. It is just your money management, and strategy that traders use.
  • #1,200,667
  • Oct 18, 2021 2:46pm Oct 18, 2021 2:46pm
Quoting Robinhood1
{quote} totally agree. Can you recommend a chart platform.
Hello amigo, would recommend you Tradingview, its free, but if you spare on premium 5-8$ a month, youll have more benefits than any other chart platform,
I use it myself, but i bough a years subscription long time ago, and cant remember how much it was.
Consistency will bring everything...Be good.
100% Is The Target v.1 All Time Return: -95.4%
  • #1,200,668
  • Oct 18, 2021 2:55pm Oct 18, 2021 2:55pm
Quoting SkullCandy
{quote} Hello amigo, would recommend you Tradingview, its free, but if you spare on premium 5-8$ a month, youll have more benefits than any other chart platform, I use it myself, but i bough a years subscription long time ago, and cant remember how much it was.
POSTMASTER
  • #1,200,669
  • Oct 18, 2021 3:36pm Oct 18, 2021 3:36pm
Discounting the usefulness of lagging or leading indicators and/or EAs based on them, which I am not going to talk about, there is a problem with the data feed itself.

People that want to have reliable data for backtests must subscribe to Tick Data Suite (there are a couple of others but, in my opinion, are miles behind TDS). TDS allows you to discharge data from reliable sources like Dukascopy.

Actually, I have it although am not using much lately. Updated for EURUSD just now.


Attached Image
Follow your guts, if you want to lose your money...
  • #1,200,670
  • Oct 18, 2021 4:19pm Oct 18, 2021 4:19pm
I will be interested in a bullish retest of the 1.16700 horizontal resistance by EURUDSD price action for a sell swing trading opportunity.

Trade safe and prosper.

KP


Quoting KeenPips
The EURUSD market is presently sideways after the recent bearish drive. Price action on the daily timeframe is within a falling wedge (blue). It surged below a significant 1.15700 weekly horizontal support area (green) on October 6, tested the nearby wedge support trendline and turned sideways in the area for several days. Last week Wednesday, it made a bullish drive that close above the wedge support trendline and the 1.15700 weekly horizontal support area (green). However, there was no bullish follow-up as price action printed indecision candlesticks...
Do your homework, follow the footprints of smart money
  • #1,200,671
  • Oct 18, 2021 7:59pm Oct 18, 2021 7:59pm
If the price doesn't break out 1.1625 thru 1.1640 within the next few days. I would be surprised. Have some patience the bears will be back at the next supply & demand zone.
  • #1,200,672
  • Oct 18, 2021 8:48pm Oct 18, 2021 8:48pm
Attached Image (click to enlarge)
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  • #1,200,673
  • Oct 18, 2021 9:00pm Oct 18, 2021 9:00pm
Quoting Mcbeaners
i'll eat my hat if eu doesn't break out of this horizontal channel. cd says buying is building so me thinks i won't have to. {image}
market told me my channel was too thick...

inv h&s so min target is 30th march low.
Attached Image (click to enlarge)
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In tea leaves we trust!
  • #1,200,674
  • Oct 18, 2021 9:44pm Oct 18, 2021 9:44pm
Attached Image (click to enlarge)
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I am cashing my longs at 1.16 38 now and going to sleep. . . .

  • #1,200,675
  • Oct 18, 2021 9:48pm Oct 18, 2021 9:48pm
Target @1.16638
  • #1,200,676
  • Oct 18, 2021 10:34pm Oct 18, 2021 10:34pm
Quoting PatienceFx
setting 1.16400 exit {image}
target met while i was sleeping
Attached Image (click to enlarge)
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  • #1,200,677
  • Oct 18, 2021 10:37pm Oct 18, 2021 10:37pm
Will 9360 hold or is DXY going to do a whoopsie
Attached Image (click to enlarge)
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  • #1,200,678
  • Oct 18, 2021 10:44pm Oct 18, 2021 10:44pm
price almost reaching ADR so i am not going to risk buying here
Attached Image (click to enlarge)
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  • #1,200,679
  • Oct 18, 2021 11:06pm Oct 18, 2021 11:06pm
ending diagonal triangle at elliots 5th wave, sell sell =P
Founder of Sutherland Wave Principle
  • #1,200,680
  • Oct 18, 2021 11:09pm Oct 18, 2021 11:09pm
Quoting PatienceFx
{quote} target met while i was sleeping {image}
Hey did you see my analysis I did over the weekend?
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