EURUSDEURUSD ( Euro / U.S Dollar )
Completed " 12345 " Impulsive Waves and " AB " Corrective Waves
Break of Structure
Change of Characteristics
Rising Wedge as an Corrective Pattern in Short Time Frame
Fibonacci Level - 50.00%
USDEUX trade ideas
DROP , BASE , RALLY Pattern DROP , BASE , RALLY pattern is my most favorite pattern to identify on charts and take trades accordingly.
Simple explanation of this pattern is that '' price drops to a certain level and then starts accumulation or form base level with bit of liquidity hunt to the down side. Bullish rally begins after the liquidity hunt and formation of strong base.
In this pattern we can take several trades by managing risk with the stop loss at previous low or high.
This Pattern can be identify in any financial market with the accuracy of above 80%. (personal point of view on experience)
Not a financial advice, trade on your own risk. Only for educational purpose.
Regards:
Javed ali nagri
EURUSD | 16.12.2024BUY 1.04900 | STOP 1.04400 | TAKE 1.05400 | The euro is trying to continue to increase its support level. The medium-term trend changed to an upward one at the end of November, when quotes exceeded the target zone of 1.05400. After this, the asset went into a correction, within which it reached the support level of 1.04550, turned around and began growing towards the November high.
How to Build a Forex Trading Indicator How to Build a Forex Trading Indicator
In the dynamic world of financial trading, understanding how to build a trading indicator is a valuable skill. This article is designed to navigate you through the essential steps of creating your own trading indicators, offering a blend of technical and practical insights to potentially enhance your market analysis and trading decisions.
Understanding Trading Indicators
Trading indicators are essential tools in analysing financial markets, offering traders valuable insights into market trends and potential trading opportunities. These mathematical calculations are applied to various market data points like price, volume, and sometimes open interest. In forex trading, indicators play a crucial role in analysing currency pair movements.
There are several types of indicators, each serving a specific purpose:
- Trend indicators help identify the direction of market movements.
- Momentum indicators gauge the speed of these movements.
- Volume indicators look at trading volumes to understand market strength.
- Volatility indicators provide insight into the stability or instability of currency prices.
While there are hundreds of indicators to choose from, some traders choose to develop their own based on their unique market observations.
Basic Components of a Trading Indicator
The core components of a trading indicator are price, volume, and time. These elements are fundamental in analysing market data and building various tools.
- Price: The most critical component, price, is used in almost every trading indicator. It includes open, high, low, and close prices of trading instruments. Price data is essential for constructing trend-following tools like moving averages and oscillators like the Stochastic RSI.
- Volume: Volume indicates the number of contracts traded in a given period. It provides insights into the strength or weakness of a market move. Volume-based tools, like the Volume Oscillator or On-Balance Volume (OBV), help traders understand the intensity behind price movements.
- Time: Indicators use time periods to analyse market trends. This could be short-term (minutes, hours), medium-term (days, weeks), or long-term (months, years). Time frames influence the sensitivity of an indicator, with shorter periods typically offering more signals.
Choosing the Right Data and Tools
Selecting appropriate data and tools is a critical step in building effective trading indicators. For data, accuracy and relevance are paramount. Traders typically use historical price data alongside volume data.
For tools, traders consider user-friendly platforms that offer robust functionality for creating and testing tools. Platforms like TradingView and MetaTrader offer extensive libraries and community support, facilitating the development of customised indicators.
Additionally, programming languages like Python, C# and R, known for their data analysis capabilities, can be powerful tools for creating more complex indicators. FXOpen’s TickTrader, for instance, supports custom C#-based indicators and offers powerful backtesting tools.
How to Build a Trading Indicator: A Step-by-Step Walkthrough
Developing an indicator involves several key steps, each crucial to ensure the final tool is effective and aligns with your trading strategy.
1. Define the Objective
Begin by clearly defining what you want your tool to achieve. Is it to identify trends, pinpoint entry and exit points, or gauge market volatility? Your objective will guide the type of indicator you develop, such as trend-following, momentum, or volatility-based.
2. Select the Formula
Choose or develop a mathematical formula that your tool will use. This could be a simple moving average, a complex algorithm involving multiple data points, or something entirely unique. The formula should reflect the market phenomena you aim to capture.
3. Coding the Indicator
Translate your formula into code. If using platforms like TradingView, MetaTrader or TickTrader, their scripting languages (Pine Script for TradingView, MQL4/5 for MetaTrader, C# for TickTrader) are designed for this purpose. Ensure the code is clean, well-documented, and easily adjustable.
4. Incorporate Visualisation
Decide how the indicator will visually appear on the chart or in a separate window. This could be in the form of lines, bars, dots, or other graphical representations. The visual aspect should make it easy to interpret signals at a glance.
5. Backtesting
Before applying your indicator in live trading, it’s crucial to backtest it using historical data. This topic is expanded on below.
Testing and Refining Your Indicator
Testing and refining your trading indicator is a critical phase in its development, ensuring its potential effectiveness and reliability in real market conditions.
- Backtesting: This is the process of testing your indicator against historical data. Backtesting helps evaluate how it would’ve performed in different market scenarios, revealing its strengths and weaknesses. It's essential to test over various time frames and market conditions to ensure robustness.
- Analysing Results: Assess the indicator's accuracy, consistency, and responsiveness to market changes. Look for patterns in its performance, such as frequent false signals or lag in response to price movements.
- Refinement: Based on the backtesting results, refine your indicator. This could involve tweaking the formula, adjusting parameters like time periods or thresholds, or enhancing the visualisation for clearer signals.
- Forward Testing: After adjustments, conduct forward testing in a simulated or live trading environment with real-time data. This helps verify its performance in current market conditions.
Remember, no indicator is perfect; the goal is to develop a tool that consistently aids in your trading outcomes.
The Bottom Line
The journey of building an indicator is both challenging and rewarding. From selecting the right data and tools to carefully coding and testing your creation, each step plays a vital role in crafting an effective aid for trading decisions. For those looking to integrate their custom indicators into a professional trading environment, opening an FXOpen account offers the opportunity to leverage your unique tools in the dynamic TickTrader platform.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
EURUSD BUY AT DEMAND ZONE SMART MONEY CONCEPTHere on Eurusd price has been downrtrend and making a break of structure so later form a structure shift which is unable to form another break of structure instead forming change of character meaning that uptrend has begin so trader can now go for long at demand zone and take profit above the resistance area. Use money management
EURUSD buyIf last CPI 30 min candle and above H4 fvg breaks I am going to buy with 50 pips target till last NFP 30 min candle opening price!
EURUSD awaiting newsEURUSD continues to move sideways ahead of the upcoming USD news.
This will be the last major news event of the year.
The range will most likely continue today, with larger fluctuations expected tomorrow.
Support levels remain at 1,0445 and 1,0400, while the first resistance is at 1,0600.
Keep an eye on the reaction to these key levels during the news release!
In moments like these, the Volatility Trading System will bring you the best results!
EUR/USD Bearish Divergence Setup with RSI Double Top ConfirmatioAnalysis Overview:
I am analyzing the EUR/USD pair across the 1-hour and 15-minute timeframes for a potential bearish reversal setup. The primary focus is on identifying bearish divergence between price and the RSI.
Key Observations:
1-Hour Chart (H1):
The price is currently approaching a key resistance zone around 1.0540 - 1.0573, as indicated by previous highs.
I am observing that while the price continues to climb, the RSI is nearing overbought levels, which often signals exhaustion.
15-Minute Chart (M15):
I am monitoring for a possible RSI double top while the price continues to make higher highs.
If the RSI fails to break above its previous peak, this could confirm a bearish divergence and signal a potential change in price direction.
Trading Plan:
Confirmation Trigger: I will wait for the RSI to form a clear double top pattern on the M15 chart, while the price continues to push higher, creating divergence.
Entry: A bearish signal will confirm entry near the resistance zone (1.0540 - 1.0573).
Stop Loss: Above the resistance zone at 1.0573.
Take Profit: Targeting the next support area around 1.0485.
The setup focuses on bearish divergence between the RSI and price action. If the RSI confirms a double top while price reaches resistance, this would strengthen the case for a reversal and a potential short trade.
Monitoring the M15 chart for confirmation will ensure precision in entry timing.
EURUSD WeeklyAt some point, the selling pressure on the Euro has weakened and the time for liquidity to come in is approaching. According to this possibility, given the formation of a support zone, we can expect the Euro to rise against the Dollar.
Sasha Charkhchian
EUR/USD Analysis: Bearish Outlook Amid Strong SupportWith Trump’s win likely strengthening the U.S. dollar, EUR/USD has reached a notable support level that has held firm over the past year. This level may lead to a short-term bounce, but continued downside is possible due to factors like holiday spending patterns, potential new sanctions on China, and renewed confidence in the new administration. I’ll be watching for a possible move down to the 1.04 level if further bearish momentum builds.
Reverse Head and Shoulder patten forming in EURUSD DailyTechnical Analysis:
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A reverse head and shoulder pattern has formed in EURUSD, if the price action continues to go up, it can gain ~300 pips.
The neck line, left and right shoulders and the head of the H&S pattern are previous significant levels (means support or resistance in past).
Fundamental Analysis:
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1) Santa Clause Rally :
For whatever reason the stock market keeps going up in December, and USD should depreciate against major currency pairs including EUR
2) The VIX Index has gone down significantly due to the ceasefire between Israel and other parties
There are other factors like Trump administration would consider crypto as mainstream currency, which would depreciate USD. But that might happen in 2025, we should see the H&S happening in December if the price action continues in the same/upward direction.
Note: A trade idea I post here is also my trading journal.
Germany snap election risks EUR/USD Germany, Europe’s largest economy, is now under a caretaker government.
Chancellor Olaf Scholz lost a confidence vote in the Bundestag on Monday, paving the way for a snap election in February.
Key issues in the upcoming campaign are expected to include the war in Ukraine, the financial demands of strengthening Germany’s military, a struggling economy, immigration, and the growing influence of political extremes.
Amongst this turmoil, technical indicators possibly lack sufficient strength for a bullish confirmation. A break below 1.0460, a key support level, could open the door to a bearish move toward 1.0400.
A Guide for Beginner Traders: Navigating the Markets Safely.Welcome to the world of trading! Whether you're just starting out or looking to improve your skills, this guide is for you. Trading can be exciting and rewarding, but it's crucial to approach it with the right knowledge and mindset. Let's dive into the essentials you need to know to trade safely and effectively.
Understanding the Basics
It’s really concerning to see how many beginner traders, or even people with no prior knowledge, are getting misled by false signals and scams in various groups like Telegram and Discord. Following bad advice can lead to significant financial losses, false confidence, and emotional stress. Learning the fundamentals is essential to navigate the markets independently and avoid these pitfalls.
Why Understanding the Basics Matters
Empowerment: Learning to use indicators empowers you to make your own trading decisions. Instead of relying on others for buy or sell signals, you gain the ability to analyse market conditions and determine the best course of action.
Risk Management: Proper knowledge helps you manage risks better. You'll learn to spot potential market reversals and adjust your positions to protect your capital.
Market Insights: Indicators offer valuable insights into market trends, momentum, volatility, and volume. This information helps you identify trading opportunities, spot trends early, and avoid potential pitfalls.
Confidence Building: Understanding how trading works boosts your confidence. You'll be less likely to make impulsive trades based on emotions or unverified advice.
Key Concepts and Tools to Learn
Let's break down some essential concepts and tools to get you started:
Indicators and Technical Analysis:
Moving Averages (MA): These smooth out price data to help identify trends. The Simple Moving Average (SMA) calculates the average price over a specific period, while the Exponential Moving Average (EMA) gives more weight to recent prices.
Relative Strength Index (RSI): This momentum oscillator measures the speed and change of price movements. An RSI above 70 indicates overbought conditions, while an RSI below 30 indicates oversold conditions.
Moving Average Convergence Divergence (MACD): This indicator shows the relationship between two EMAs. When the MACD line crosses above the signal line, it suggests a bullish trend; crossing below indicates a bearish trend.
Bollinger Bands: These measure market volatility and provide a range within which the price is expected to move. The bands expand and contract based on market conditions.
Volume Indicators: Tools like On-Balance Volume (OBV) and Volume Moving Average (VMA) help assess the strength of a price move.
Developing a Trading Strategy:
Research and Education: Continuously educate yourself about the market. Read articles, watch webinars, and join trading communities.
Back testing: Before applying your strategy in real-time trading, test it using historical data. This helps you refine your approach and gain confidence in your trading plan.
Risk Management: Determine how much you're willing to risk on each trade and stick to it. Use stop-loss orders to limit potential losses.
Avoiding Common Pitfalls:
Overtrading: Trading too frequently can lead to unnecessary losses. Focus on quality over quantity.
Following Unverified Signals: Relying on signals from unverified sources can be risky. Learn to analyse the market yourself.
Emotional Trading: Trading based on emotions rather than analysis can lead to poor decisions. Stay disciplined and stick to your strategy.
Conclusion
Trading can be a rewarding journey, but it's essential to approach it with the right knowledge and mindset. By understanding the basics, developing a solid strategy, and avoiding common pitfalls, you'll be better equipped to navigate the markets. Remember, continuous learning and disciplined application of knowledge are key to long-term success.
Happy Trading! 🚀.
16.12.2024 - Eu shorts London Session LHNews manipulated PDH and liquidated internals. Looking for a short targeting sell side with 1:3 minimum RR. HTF also confirms the trend.
EURUSDThis week's forecast is for a continuation of the decline, with the target in the zone between 1.03499 and 1.03122, coinciding with a key level at 1.03281.
EURUSD : Bond YieldUS10Y is still high. If it does not fall, $ cannot rise. What we are seeing now is the price stagnating @ 1.0493 - not knowing whether to go UP or DOWN.
But looking at the charts, I can see some lines forming. Perhaps we can use them as a guide to see what can happen next.
Good luck.
EURO/USD bullishI’m waiting for the price to break out of the bearish order block (OB) and retest it. What are your thoughts? Let me know in the comments!
Short Buddy!!!My 3 confluences have been triggered..
1. Divergence
2. Price action
3. Macd
Trade with the trend. What are your thoughts on this pair?
Trade safely my friends
1.0450 is my daily target area
eurusd 4 hour chart buy for short term eurusd 4 hour chart buy for short term its only for short term trade so dont expact much pips take only few pips
EURUSD trading sideways The EURUSD pair has been moving sideways for the fourth consecutive week.
On Wednesday, the Fed will announce the interest rates, which is expected to cause increased volatility.
Support levels remain at 1,0445 and 1,0400, while the first resistance level is at 1,0600.
Keep an eye on the market's reaction to these key levels during the news release!
EU slowly going downHi traders,
Last week EU did exactly what I've said in my outlook.
After a small correction up it began to drop slowly. This could be a leading diagonal wave 1.
So for next week we could see a correction up for wave 2 and another drop to finish wave 5 (black).
Let's see what the market does and react.
Trade idea: Wait for the small correction up to finish and a change in orderflow to bearish on a lower timeframe and trade shorts.
If you want to see more from my analysis, please make sure to follow me, give a boost or respectful comment.
This shared post is only my point of view on what could be the next move in this pair based on my analysis. I do not provide signals.
Don't be emotional, just trade!
Eduwave
Bearish drop?EUR/USD is rising towards the resistance level which is an overlap resistance that aligns with the 61.8% Fibonacci retracement and could drop from this level to our take profit.
Entry: 1.0543
Why we like it:
There is an overlap resistance level that aligns with the 61.8% Fibonacci retracement.
Stop loss: 1.0589
Why we like it:
There is a pullback resistance level.
Take profit: 1.0470
Why we like it:
There is a pullback support level.
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EURUSD Bullish Reversal Confirmed After the correction is completed, now we start with the batch wave
