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  • #3,701
  • Jun 19, 2024 9:58am Jun 19, 2024 9:58am
Quoting PatienceFx
{quote} Month Week Day

now i understand better
  • #3,702
  • Jun 19, 2024 10:54am Jun 19, 2024 10:54am
Quoting rjngh2005
{quote} now i understand better
forex is simple until you complicate it with trading systems and strategies
  • #3,703
  • Jun 19, 2024 7:44pm Jun 19, 2024 7:44pm
what is the next step to improve my understanding
  • #3,704
  • Jun 19, 2024 8:27pm Jun 19, 2024 8:27pm
Quoting rjngh2005
what is the next step to improve my understanding
You need to wait patiently for a trade opportunity to come

Do not jump at every move

Remember the golden rule

When the BB squeezes you enjoy more
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  • #3,705
  • Jun 19, 2024 8:41pm Jun 19, 2024 8:41pm
very true indeed
  • #3,706
  • Jun 19, 2024 9:34pm Jun 19, 2024 9:34pm
Quoting rjngh2005
what is the next step to improve my understanding
And the best part
Keep thinking why I prefer you to LEARN to trade profitably instead of offering to trade for you
  • #3,707
  • Jun 19, 2024 9:41pm Jun 19, 2024 9:41pm
I am Learning a lot from your posts
  • #3,708
  • Jun 19, 2024 9:44pm Jun 19, 2024 9:44pm
next news is unemployment news at 15:30 according to my broker time -- 18:00 hrs India time
  • #3,709
  • Jun 19, 2024 9:49pm Jun 19, 2024 9:49pm
check this chart and suggest what kind of trade setup is developing

and the best part

should i jump for it
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  • #3,710
  • Jun 19, 2024 9:52pm Jun 19, 2024 9:52pm
Quoting PatienceFx
check this chart and suggest what kind of trade setup is developing and the best part should i jump for it {image} {image}
no idea. down and then up or up and then down
  • #3,711
  • Jun 19, 2024 10:06pm Jun 19, 2024 10:06pm
Quoting vinesh1
{quote} no idea. down and then up or up and then down
i wait for a clear direction
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  • #3,712
  • Jun 19, 2024 10:06pm Jun 19, 2024 10:06pm
Quoting PatienceFx
check this chart and suggest what kind of trade setup is developing and the best part should i jump for it {image} {image}
looking at the H1 chart-
The bb band is tightening but price is under the 20 sma. RSI is under 50.
And we’re right at a pivot point (weekly/daily)
so that would lead me to go short?

looking at h4 chart-
bb band is tightening , but price is above the 20 sma. RSI is right at 50.
We’re also at the same pivot point.

this would make me less confident in going short (if at all?)

am I on track or totally off base?
  • #3,713
  • Jun 19, 2024 10:12pm Jun 19, 2024 10:12pm
Quoting GDS17
{quote} looking at the H1 chart- The bb band is tightening but price is under the 20 sma. RSI is under 50. And we’re right at a pivot point (weekly/daily) so that would lead me to go short? looking at h4 chart- bb band is tightening , but price is above the 20 sma. RSI is right at 50. We’re also at the same pivot point. this would make me less confident in going short (if at all?) am I on track or totally off base?
correct

the right trade is when both h1 & h4 agree

go back in history on chart and visualize what happened when both agreed
  • #3,714
  • Jun 19, 2024 10:20pm Jun 19, 2024 10:20pm
Quoting PatienceFx
{quote} correct the right trade is when both h1 & h4 agree go back in history on chart and visualize what happened when both agreed
on h1

everything was correct ; price beow pivots, rsi below 50

but the next candle .............
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  • #3,715
  • Jun 19, 2024 10:27pm Jun 19, 2024 10:27pm
if i compare both economies
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  • #3,716
  • Jun 19, 2024 10:29pm Jun 19, 2024 10:29pm
Quoting PatienceFx
if i compare both economies {image} {image}
the basic portion
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  • #3,717
  • Jun 19, 2024 10:33pm Jun 19, 2024 10:33pm
Quoting GDS17
{quote} looking at the H1 chart- The bb band is tightening but price is under the 20 sma. RSI is under 50. And we’re right at a pivot point (weekly/daily) so that would lead me to go short? looking at h4 chart- bb band is tightening , but price is above the 20 sma. RSI is right at 50. We’re also at the same pivot point. this would make me less confident in going short (if at all?) am I on track or totally off base?
making the chart even simpler, just use 20 sma & 200 sma with rsi

see the tiny opportunities 20 sma & rsi have given
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  • #3,718
  • Jun 19, 2024 10:56pm Jun 19, 2024 10:56pm
Quoting PatienceFx
{quote} making the chart even simpler, just use 20 sma & 200 sma with rsi see the tiny opportunities 20 sma & rsi have given {image}

sma is smoothed moving average ?
since this is below sma 20 - i would think market is going short
also RSI is below 50

what do you think ?
  • #3,719
  • Jun 19, 2024 11:03pm Jun 19, 2024 11:03pm
Quoting rjngh2005
{quote} sma is smoothed moving average ? since this is below sma 20 - i would think market is going short also RSI is below 50 what do you think ?

this is simple and not smoothed moving average
and sma 20 is purple and not the yellow

and i finally think market is going short at the moment
  • #3,720
  • Jun 19, 2024 11:04pm Jun 19, 2024 11:04pm
Quoting PatienceFx
{quote} making the chart even simpler, just use 20 sma & 200 sma with rsi see the tiny opportunities 20 sma & rsi have given {image}
I charted the ones I noticed.

This thread has been really interesting. I’ve been learning a lot from this over the past month. Some of the higher level things you and Gelubrin are discussing as far as predicting news outcomes and price movement based on news has been a bit over my head ( I’ll get it eventually), but it’s all been useful info.
Really appreciate it.

Thanks!
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