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  • #174,381
  • Jun 16, 2023 4:11pm Jun 16, 2023 4:11pm
Quoting danilofx
{quote} I still believe that this pair can reach 1.10xx, what you think?
Some day, some day!!!
  • #174,382
  • Jun 17, 2023 12:29am Jun 17, 2023 12:29am
index.m5
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  • #174,383
  • Jun 17, 2023 12:44am Jun 17, 2023 12:44am
Many traders ground their edge in a particular set of market conditions: trend, momentum, bullish or bearish movement, etc. This makes these traders inherently vulnerable. The real edge in financial markets is the ability to detect when markets change and identify the nature of that change. Too many traders simply label markets as "directional" or "choppy". They make money in the directional markets and lose money in the chop. This has recently been the case among many stock market traders.
  • #174,384
  • Jun 17, 2023 4:04am Jun 17, 2023 4:04am
EU is bullish targeting 1.10956 but it may retrace below 1.0900 first & above 1.0800. R1 monthly resistance is critical for a continuation to the upper edge (see daily chart).

Weekly Volatility (range) - 92 pips

Significant News - US Housing Starts Number and US Initial Jobless Claims.

Have a great rest of the weekend!
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Looking for profitable short term trades ...|
  • #174,385
  • Jun 17, 2023 5:47am Jun 17, 2023 5:47am
I traded poorly this week.
Had a bias that the down trend would resume. Got into trouble and out fortutiously. More of the same on Friday when I reversed long too quickly on that up break which turned out fake and then increased too quickly the long as price went down and had to sit tight all day to get out of the long on the up retr. towards the end of the session. Far too impatient, impulsive, nervous. Lucky not to have done serious damage.

I expect next week to see a low below Friday's followed by continuation up. Next possible reversal is around 1.1

On a separate topic, do you use geometric average to track your account performance?
I posted a thread https://www.forexfactory.com/thread/...metric-average
Practitioner of the cryptic trading arts
  • #174,386
  • Jun 17, 2023 6:42am Jun 17, 2023 6:42am
Quoting kourosh1347
4480637 {image} {file}
how is this orderblock differnt than other ob?
  • #174,387
  • Jun 17, 2023 7:22am Jun 17, 2023 7:22am
This bearish evening star candlestick on H4 will bring the price down to 0.618 fib level guaranteeeeeed! Thank me later!
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  • #174,388
  • Jun 17, 2023 9:08am Jun 17, 2023 9:08am
Quoting Endoephemera
I traded poorly this week. Had a bias that the down trend would resume. Got into trouble and out fortutiously. More of the same on Friday when I reversed long too quickly on that up break which turned out fake and then increased too quickly the long as price went down and had to sit tight all day to get out of the long on the up retr. towards the end of the session. Far too impatient, impulsive, nervous. Lucky not to have done serious damage. I expect next week to see a low below Friday's followed by continuation up. Next possible reversal is around...
I got caught in that fake upward breakout I bought and closed it on losses as well all of that cos I was scared of the trapped short bellow in 1.09287, I will partially close on 1.08950 and my TP 1.08650.
GREED & FEAR, last week I was between them constantly I was also impatient, impulsive and nervous. let's trade safely and do risk management so we don't fall into the greed/fear cycle. have a nice weekend and good luck next week.
  • #174,389
  • Jun 17, 2023 11:54am Jun 17, 2023 11:54am
Quoting T4Trade
{quote} how is this orderblock differnt than other ob?
Thanks for your comment. It displays different time frames on one chart.
  • #174,390
  • Jun 17, 2023 12:08pm Jun 17, 2023 12:08pm
Quoting kourosh1347
{quote} Thanks for your comment. It displays different time frames on one chart.
it doesnt show much info on my chart,can you please explain more how do u use this indcator and in what time frame,thanks a lot
  • #174,391
  • Jun 17, 2023 12:27pm Jun 17, 2023 12:27pm
Quoting T4Trade
{quote} it doesnt show much info on my chart,can you please explain more how do u use this indcator and in what time frame,thanks a lot
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File Type: ex4 VisualTradingG.ex4   463 KB | 245 downloads
  • #174,392
  • Jun 17, 2023 2:02pm Jun 17, 2023 2:02pm
hi all, just wondering where how people get news reports like the fed funds rate for example?
reason i ask is i've been working on some python code (im a devops engineer by trade) to collect the fed funds rate and other types of similar news. The theory behind it was i wanted to know exactly what time the news was released thinking that institutional players might get early access by 30 seconds or so ? It turns out that i managed to get the fed funds rate this month 5 whole minutes before the release. I'm a bit shocked it comes out that early to be honest as i was going to get an EA to pull this figure and then trade it ? but if its that early then it should be tradeable just manually.

the picture below is on the EurUsd this months fed rate. You will see the news is being released at 19:00 UK time. you will also see that my aws code on the right says 17:55 rather than 18:55. Its a work in progress and this is just a time zone issue. The point here is the rate was observable 5 minutes before the official release.

im sat here thinking, is this a good thing? is it useful? I would start my own thread on this but for some reason i don't have permissions. Comments and suggestions welcome as im looking how to leverage this and other news releases.
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  • #174,393
  • Jun 18, 2023 2:47am Jun 18, 2023 2:47am
Quoting boomorbust
hi all, just wondering where how people get news reports like the fed funds rate for example? reason i ask is i've been working on some python code (im a devops engineer by trade) to collect the fed funds rate and other types of similar news. The theory behind it was i wanted to know exactly what time the news was released thinking that institutional players might get early access by 30 seconds or so ? It turns out that i managed to get the fed funds rate this month 5 whole minutes before the release. I'm a bit shocked it comes out that early to...
You can get free funds data from many places, but here is the source, it's delayed 15 min. but if you subscribe you'll get it faster than that. I don't know what the results will be and how many faster you will become after that. If you open a new thread please drop a notice here, or quote so I can subscribe!
Looking for profitable short term trades ...|
  • #174,394
  • Jun 18, 2023 3:50am Jun 18, 2023 3:50am
Quoting Js3mwtRc
{quote} You can get free funds data from many places, but here is the source, it's delayed 15 min. but if you subscribe you'll get it faster than that. I don't know what the results will be and how many faster you will become after that. If you open a new thread please drop a notice here, or quote so I can subscribe!
Cheers dude. Yes that just what im thinking as in every news item is delayed and im not sure why if i can grab it 5 minutes earlier than release. Im not a good trader really, better at programming but i'm thinking this could be an edge.
  • #174,395
  • Jun 18, 2023 8:25am Jun 18, 2023 8:25am
Quoting boomorbust
It turns out that i managed to get the fed funds rate this month 5 whole minutes before the release.
is this common knowledge?? I had no idea that it's possible to get the news before the "official" release time. seems totally crazy to me, why wouldn't everyone just frontrun the real release then? or maybe this source just mistakenly released it too early this time and it doesn't usually happen?
  • #174,396
  • Jun 18, 2023 10:54am Jun 18, 2023 10:54am
So far no sign of bears... Let's wait and see how the daily candle will close tomorrow!
Until then I will keep my buys open;

Good luck!
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  • #174,397
  • Jun 18, 2023 11:27am Jun 18, 2023 11:27am
Quoting boomorbust
{quote} Cheers dude. Yes that just what im thinking as in every news item is delayed and im not sure why if i can grab it 5 minutes earlier than release. Im not a good trader really, better at programming but i'm thinking this could be an edge.
Definitely it is for people that know the news already before us the retail traders, but there are hundred ways to trade except the news so don't worry if your idea doesn't work out for some reason, you will find thousand ideas to trade!
Looking for profitable short term trades ...|
  • #174,398
  • Jun 18, 2023 11:33am Jun 18, 2023 11:33am
Quoting Frostfang
So far no sign of bears... Let's wait and see how the daily candle will close tomorrow! Until then I will keep my buys open; Good luck! {image}
That doji candle is a sign for the bear
  • #174,399
  • Jun 18, 2023 12:19pm Jun 18, 2023 12:19pm
Quoting CryptoMavs
{quote} That doji candle is a sign for the bear
I'm retired and just trade on my own now but you inexperienced traders need to do more training and research before you trade or post. A doji is simply a pause for more or a reverse. Does not mean bull or bear. Trend is ......
  • #174,400
  • Edited 4:36pm Jun 18, 2023 4:24pm | Edited 4:36pm
Quoting Bocephus
{quote} I'm retired and just trade on my own now but you inexperienced traders need to do more training and research before you trade or post. A doji is simply a pause for more or a reverse. Does not mean bull or bear. Trend is ......
Joining this forum last April does'nt mean I'm inexperienced. I'm 5 yrs as a trader FYI. And yes you said it right, doji is simply a pause or REVERSE. Reverse especially if it is at the top. With some confluence on the Stochastic RSI overbought on daily and H4, and a bearish evening star candle on H4 seems a sign for the bear for me.
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