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  • #3,381
  • Jul 9, 2024 7:10am Jul 9, 2024 7:10am
Quoting rehmatkhan00
{quote} he is a such amazing person
Absolutely!
Stop Procrastinating
  • #3,382
  • Jul 9, 2024 7:13am Jul 9, 2024 7:13am
Quoting Wasade
I’m new here I need someone that will mentor me how to trade
my little opinion:

use real money straight away as you must immediately understand the risk you face!! obviously you have to trade ONLY AFTER you have spent several days OBSERVING THE MARKET.... how many bars goes up and how many goes down.... everything is proportionate and in harmony.... use only 1 or at most 2 indicators and you must know everything about these 2 indicators: the form they take when they indicate a precise movement of the market... the excess values in the history... when they anticipate the market through divergences.
In summary:
1) an indicator that shows you the excesses of the market or how much it has moved away from a precise average (tight rubber band)
2) an indicator that gives precise divergences and these must occur when the elastic is pulled
3) the signal must occur when the Time/cycle is right
  • #3,383
  • Jul 9, 2024 7:17am Jul 9, 2024 7:17am
The bulls are extremely resilient but if they are broken, the bleeding will be so so dangerous
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  • #3,384
  • Jul 9, 2024 7:18am Jul 9, 2024 7:18am
Looks like an undecided market, only choppy price action up and down until now, this should continue, better trade after some dust settles!
Looking for profitable short term trades ...|
  • #3,385
  • Jul 9, 2024 7:22am Jul 9, 2024 7:22am
Quoting Js3mwtRc
Looks like an undecided market, only choppy price action up and down until now, this should continue, better trade after some dust settles!
changing direction of a market is usually really difficult and it takes some time. Bulls are not going to be convinced that easily to stop buying and usually need more data for confirmation.
  • #3,386
  • Jul 9, 2024 7:25am Jul 9, 2024 7:25am
Quoting carbonmimeti
{quote} my little opinion: use real money straight away as you must immediately understand the risk you face!! obviously you have to trade ONLY AFTER you have spent several days OBSERVING THE MARKET.... how many bars goes up and how many goes down.... everything is proportionate and in harmony.... use only 1 or at most 2 indicators and you must know everything about these 2 indicators: the form they take when they indicate a precise movement of the market... the excess values in the history... when they anticipate the market through divergences....
in forex the best identifiable cycle is the 2 day (48 hour... multiples and submultiples) cycle but obviously it is rarely exactly 48 hours... you have to understand the time window within which the next low will fall. Sometimes it's simple and sometimes it's not... and when it's not, just don't buy! what you see is EURUSD 1H chart with the yellow 2-day cycle...as you can see it identifies many lows very well.

in rare cases the 3 day cycle appears and when it appears it means something
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  • #3,387
  • Jul 9, 2024 7:26am Jul 9, 2024 7:26am
This is what I can think now

15 min
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Looking for profitable short term trades ...|
  • #3,388
  • Jul 9, 2024 7:27am Jul 9, 2024 7:27am
Based on Jerome Powell's speech analysis, the US dollar is expected to remain strong in the near term, which may lead to a decline in the EUR/USD exchange rate. Levels closer to 1.07 or lower could be seen, with continued downward pressure on the euro due to expectations of sustained restrictive monetary policies by the Federal Reserve.
Successful trading is knowing yourself, not the market.
demo5 All Time Return: 177.6%
  • #3,389
  • Edited 7:40am Jul 9, 2024 7:30am | Edited 7:40am
Quoting rehmatkhan00
{quote} changing direction of a market is usually really difficult and it takes some time. Bulls are not going to be convinced that easily to stop buying and usually need more data for confirmation.
Maybe you are right but not always V turns are also possible we are just stucked in a summer low volatility environment and I guess FED must cut rates to see real movement after September!
Looking for profitable short term trades ...|
  • #3,390
  • Jul 9, 2024 7:36am Jul 9, 2024 7:36am
Quoting ahmerjamil
{quote} Welcome brother, No one here can teach you personally, You can learn from our posts, Important thing, YOUTUBE is the best teacher, First learn, & practice with demo, Not real... Best wishes!
Which Youtube channels did you find helpful?
  • #3,391
  • Jul 9, 2024 7:37am Jul 9, 2024 7:37am
30 min. 1.0808
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Looking for profitable short term trades ...|
  • #3,392
  • Jul 9, 2024 7:38am Jul 9, 2024 7:38am
Quoting naseyllc
Based on Jerome Powell's speech analysis, the US dollar is expected to remain strong in the near term, which may lead to a decline in the EUR/USD exchange rate. Levels closer to 1.07 or lower could be seen, with continued downward pressure on the euro due to expectations of sustained restrictive monetary policies by the Federal Reserve.
Hi, I'm listening to Chairman Jerome Powell's speech at the moment as well. At the same time, I'm keeping a close tab on EUR/USD and DXY. Despite Powell's statements, the USD has not shown any rallies at all. EUR/USD is barely down not even 10 pips and more interestingly, Gold is still up green $5. I'm not sure if the market is buying the Dollar and believing Powell's statements. His opening statement that the US economy has been consistently improving run foul immediately just when someone mentioned that the Americans are living "paycheck to paycheck" and in crumbles since Biden's legislation.
  • #3,393
  • Jul 9, 2024 7:40am Jul 9, 2024 7:40am
Quoting Js3mwtRc
This is what I can think now 15 min {image}
the market can still shoot up but the chances are really thin because they are not supported by both technical and fundamentals reasons if it flies up, I will be really surprised and the market can give us a surprise and it’s not uncommon.
  • #3,394
  • Jul 9, 2024 7:42am Jul 9, 2024 7:42am
Quoting naseyllc
Based on Jerome Powell's speech analysis, the US dollar is expected to remain strong in the near term, which may lead to a decline in the EUR/USD exchange rate. Levels closer to 1.07 or lower could be seen, with continued downward pressure on the euro due to expectations of sustained restrictive monetary policies by the Federal Reserve.
The ping-pong situation with a few points up and a few points down will not last long.
The price will inevitably move out of the comfort zone soon. The market is eager for movement.
Successful trading is knowing yourself, not the market.
demo5 All Time Return: 177.6%
  • #3,395
  • Jul 9, 2024 7:44am Jul 9, 2024 7:44am
EURUSD 1H chart: today is day n° 9 from low
TOP was day n8
8 x38,2/100=3.056
or
8x41.42/100=3.3136
I expect 3 days of correction.... if instead the top of day n8 was broken, then I think it will go up for 5 days
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  • #3,396
  • Jul 9, 2024 8:03am Jul 9, 2024 8:03am
The price is slowly slowly changing the direction and it may also make head and shoulder pattern which could be a big sign of a reversal
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  • #3,397
  • Jul 9, 2024 8:12am Jul 9, 2024 8:12am
Quoting rehmatkhan00
The price is slowly slowly changing the direction and it may also make head and shoulder pattern which could be a big sign of a reversal {image}
Bears trying to hold 1.0820!

1.0785/78 next zone of interest by the bulls if they fail to keep the weekly pivot. I see it it down to 1.0765 at least but I'll wait to see the reaction and some scalp up or down depending on price action. Lets get there first...
Looking for profitable short term trades ...|
  • #3,398
  • Jul 9, 2024 8:16am Jul 9, 2024 8:16am
Quoting Js3mwtRc
{quote} Bears trying to hold 1.0820! 1.0785/78 next zone of interest by the bulls if they fail to keep the weekly pivot. I see it it down to 1.0765 at least but I'll wait to see the reaction and some scalp up or down depending on price action. Lets get there first...
Completely agree with you and I believe that the price is highly likely to find support at 1.0780 and it could push the price up to 1.0800 area again but it would eventually fail to stay there.
  • #3,399
  • Jul 9, 2024 8:27am Jul 9, 2024 8:27am
We are going to reaching 1.0800, 1.079!
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Stop Procrastinating
  • #3,400
  • Jul 9, 2024 8:43am Jul 9, 2024 8:43am
I will be considering buying when it touches trend line on 4hr timeframe In Sha Allah.
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