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  • #3,341
  • Apr 28, 2024 12:01pm Apr 28, 2024 12:01pm
Quoting Gelubrin
{quote} Congratulations, Friend! True friends are those from whom we can learn something useful and who help us when we need it. You are one of them.
stock markets are already sounding alarm bells for a decent correction this week

this means usd strength may come soon

on sunday i rewrote the rsi trends indicator to change color when trend changes = red / green [ easy to read ]
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  • #3,342
  • Apr 28, 2024 1:55pm Apr 28, 2024 1:55pm
Quoting PatienceFx
{quote} stock markets are already sounding alarm bells for a decent correction this week this means usd strength may come soon on sunday i rewrote the rsi trends indicator to change color when trend changes = red / green [ easy to read ] {image} {image}
Agree.
Here we see that the price has already taken as resistance the trend line on D1 (green). The pink line is the trend on H4. All this is transposed on a TF of H1.
Maintaining the federal interest rate will send the price down.
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  • #3,343
  • Apr 28, 2024 10:58pm Apr 28, 2024 10:58pm
Quoting PatienceFx
a BOJ intervention is awaited PCE Index data should move price {image}
If the BOJ intervenes by raising the interest rate, this currency pair will also drop sharply.
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  • #3,344
  • Apr 29, 2024 12:37am Apr 29, 2024 12:37am
enjoying demo trading

i cannot trade on live because of government ban.
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  • #3,345
  • Apr 29, 2024 12:43am Apr 29, 2024 12:43am
Quoting PatienceFx
enjoying demo trading i cannot trade on live because of government ban. {image}
You are not allowed to trade forex in India? That's strange.
  • #3,346
  • Apr 29, 2024 12:57am Apr 29, 2024 12:57am
Quoting Mitiblotch
{quote} You are not allowed to trade forex in India? That's strange.
the penalty is very tiny

  1. 10 year jail under FEMA act
  2. bank accounts frozen

if anyone wants to take this tiny risk he can

this is the reason since 2006 i have been trading only as a signal provider on other accounts, never mine

  • #3,347
  • Apr 29, 2024 1:02am Apr 29, 2024 1:02am
modified the rsi trends indicator to include

  1. price relative to 20 sma
  2. rsi trend
  3. rsi value
  4. color change on trend change

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  • #3,348
  • Apr 29, 2024 1:23am Apr 29, 2024 1:23am

  1. price flirting with daily 20 sma
  2. ecb announced it will cut rates so eur should weaken
  3. fed will not cut rates till september so usd should remain strong

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  • #3,349
  • Apr 29, 2024 1:23am Apr 29, 2024 1:23am
Quoting PatienceFx
{quote} the penalty is very tiny 10 year jail under FEMA act bank accounts frozen if anyone wants to take this tiny risk he can this is the reason since 2006 i have been trading only as a signal provider on other accounts, never mine
I think it's wrong. But they allow banks to trade and make money. If they care so much about the citizens what they should have done was to make sure only those who pass a certain financial test should trade. Blanket banning looks like dictatorship.

How about those who have accounts in other countries and don't need to pull their income into Indian banks?
  • #3,350
  • Apr 29, 2024 1:34am Apr 29, 2024 1:34am
Quoting Mitiblotch
{quote} I think it's wrong. But they allow banks to trade and make money. If they care so much about the citizens what they should have done was to make sure only those who pass a certain financial test should trade. Blanket banning looks like dictatorship. How about those who have accounts in other countries and don't need to pull their income into Indian banks?
in India bucket shop forex brokers came out with the idea of

  1. 1 second buy sell option
  2. 1 minute buy sell option

the government went for a blanket ban to protect citizens, its a good decision

  • #3,351
  • Apr 29, 2024 1:45am Apr 29, 2024 1:45am
Quoting PatienceFx
price flirting with daily 20 sma ecb announced it will cut rates so eur should weaken fed will not cut rates till september so usd should remain strong {image}
Attached Image (click to enlarge)
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  • #3,352
  • Apr 29, 2024 2:10am Apr 29, 2024 2:10am
How will Eurusd evolve in the coming years if something major does not intervene:
-USA, GDP higher than the EU;
-USA, higher participation rate compared to the EU;
-USA, higher productivity;
- USA, the number of hours worked per week is higher; -USA, energy prices 3 times lower than the EU;
- USA, higher amounts allocated in research and innovation compared to the EU;
- The EU is a heterogeneous area and lower incomes per person
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  • #3,353
  • Apr 29, 2024 3:22am Apr 29, 2024 3:22am
Quoting PatienceFx
{quote} in India bucket shop forex brokers came out with the idea of 1 second buy sell option 1 minute buy sell option the government went for a blanket ban to protect citizens, its a good decision
But the government could have regulated the brokers by telling them what they can and cannot offer. Well, if you guys are happy with the decision then that's okay. I cannot challenge it.
  • #3,354
  • Apr 29, 2024 4:17am Apr 29, 2024 4:17am
rsi trends went red on all time frames

this new version is good
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  • #3,355
  • Apr 29, 2024 10:04pm Apr 29, 2024 10:04pm
going to work on version 3 of rsi trends indicator

found some bugs
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  • #3,356
  • Apr 29, 2024 10:20pm Apr 29, 2024 10:20pm
Quoting PatienceFx
going to work on version 3 of rsi trends indicator found some bugs {image}
Shouldn't W1, D1 and H4 be colored green?
  • #3,357
  • Apr 29, 2024 10:37pm Apr 29, 2024 10:37pm
Quoting Gelubrin
{quote} Shouldn't W1, D1 and H4 be colored green?
above 50 green, below red
  • #3,358
  • Apr 29, 2024 10:38pm Apr 29, 2024 10:38pm
This is how I see the representation of H1 on an M5 chart.
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  • #3,359
  • Apr 29, 2024 11:14pm Apr 29, 2024 11:14pm
Quoting PatienceFx
{quote} above 50 green, below red
Agree. In this case, RSI 50, D1 (as an example) refers only to the price peaks (corrections) that show us the downward trend in our case.
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  • #3,360
  • Apr 29, 2024 11:38pm Apr 29, 2024 11:38pm
lets take this as an example

the line

m15 DN DN 35.6 means

on m15 time frame ; price is below 20 sma ; rsi is trending down ; rsi value is 35.6
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