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Selected Ideas

Gold long
XAUUSD ·
Tue Mar 21 11:56:52 UTC 2023
Manage your own risk . Only for educational purpose. Good luck.
Details
XAUUSD : Gold kill zone for Short
XAUUSD ·
Tue Mar 21 11:56:45 UTC 2023
OANDA:XAUUSD Gold , Is trading in immense bullish trend since last 8-10 day's Market now touching lower trendline , breakout will make it extreme down 3 target's are set as tp's 20,50,200 ema as target's set
Details
EURUSD : Here comes the D
EURUSD ·
Tue Mar 21 11:56:02 UTC 2023
Soon it would be FOMC. Market is always cautious leading up to the date. At the moment, it is unlikely buyers would continue to buy more. If you look at the chart, volume is almost tapering off and may probably fall. But I think price will likely touch 1.0800 at the 'D" before some retracement takes place. Looking at the current volume, price is not likely to go...
Details
GBPCHF to find support at 0.618 pullback?
GBPCHF ·
Tue Mar 21 11:53:05 UTC 2023
GBPCHF - 20h expiry - We look to Buy at 1.1310 (stop at 1.1260) Previous resistance level of 1.1363 broken. We are trading at overbought extremes. A lower correction is expected. Our short term bias remains positive. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Our profit targets will be 1.1460 and...
Details
USDNOK - DOUBLE TOP
USDNOK ·
Tue Mar 21 11:51:11 UTC 2023
In the 1 hour time frame, the USDNOK charts show a double top pattern.
Details
XAUUSD Head and Shoulder - Short position
XAUUSD ·
Tue Mar 21 11:50:13 UTC 2023
-XAU vs USD Gold spot is breaking the trend. -Significant Divergence -Short Position -Risk/Reward 1%
Details

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Economic Calendar
03-2103-2203-2303-2403-25
  • Actual
  • Forecast
  • Prior
  • 08:00
    Bavaria CPI (MoM) (Mar)
    -
    -
    0.8%
  • 08:00
    Bavaria CPI (YoY) (Mar)
    -
    -
    8.8%
  • 10:00
    ZEW Economic Sentiment
    -
    -
    29.7
  • 10:00
    German ZEW Current Conditions
    -
    -
    -45.1
  • 12:30
    Common CPI (YoY) (Feb)
    -
    -
    6.6%

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News

Eurosceptic Conservative MPs: Stormont brakes on 'Windsor Framework' Brexit deal 'virtually useless'

News Flash21-03 11:50From XTrend Speed
Eurosceptic Conservative MPs: Stormont brakes on 'Windsor Framework' Brexit deal 'virtually useless'

Vitol Energy Group: Our tracking data shows that Russian oil exports fell by 300,000 barrels per day this month.

News Flash21-03 11:47From XTrend Speed
Vitol Energy Group: Our tracking data shows that Russian oil exports fell by 300,000 barrels per day this month.

RBI Bulletin: Growth momentum further strengthened as supply chain pressures ease and services sector activity rebounds.

News Flash21-03 11:42From XTrend Speed
RBI Bulletin: Growth momentum further strengthened as supply chain pressures ease and services sector activity rebounds.

USDCHF fell more than 0.50% within the day and is now at 0.9240.

News Flash21-03 11:41From XTrend Speed
USDCHF fell more than 0.50% within the day and is now at 0.9240.

U.S. Treasuries extended losses, with the 2-year yield rising 15 basis points to 4.13%.

News Flash21-03 11:40From XTrend Speed
U.S. Treasuries extended losses, with the 2-year yield rising 15 basis points to 4.13%.

Vitol Energy Group: If we are given stronger sanctions guidance, (we) may ship more Russian oil.

News Flash21-03 11:39From XTrend Speed
Vitol Energy Group: If we are given stronger sanctions guidance, (we) may ship more Russian oil.

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Trading Knowledge

Trading Terminology

Basic Knowledge
Open Positions:

refer to the state of a trade after a trader has entered the market. Traders can Buy or Sell to enter the market.



Closed Positions:

refers to executing a security transaction that is the exact opposite of an open position, thereby nullifying it and eliminating the initial exposure.



Close Out:

When your account's Equity reaches 50% of your Used margin , the system will automatically close out positions. The system will start closing positions that have the highest loss until the ratio is greater than 50%.



IMPORTANT NOTE: You should set “stop loss” and “take profit” in time when trading.

How to calculate profit and loss?

Product Guide
Profit/Loss = Price Difference in pips * Pip Value



For example, you buy 100 AUDUSD with a pip value of 0.01 USD and required margin of $5.

The opening price is 0.78260 and the closing price is 0.78220.

Their price difference in pips is -4 pips [(0.78220-0.78260)/0.0001 - The pip for AUDUSD is the fourth decimal point, ie. 0.0001].

Hence, the profit/loss (P/L) is -$0.04.

What is Margin Level?

Product Guide
● The margin level is a risk management gauge that helps you understand how the currently opened positions influence your account.

● Margin level is a mathematical equation that effectively tells the trader how much of their funds are available for new trades

● The higher the margin level, the higher the amount of cash available to trade

● The lower the margin level, the lower the amount of cash available to trade and the account could be subject to a margin call.

● Monitoring margin level is important for managing your account. If it falls to 100% the system will not allow you to open new positions, and in the case it falls further, some of your positions may be forcibly closed. You can raise it, either by adding funds to your account to increase equity or by closing some positions to reduce used margin.

If your margin level is getting close to 50%, you are in danger of having some of your positions forcibly closed. When the margin level is less than or equal to 50%, the positions with the greater losses will be closed out until the margin level rises above 50%. The positions opened by coupons will not be influenced and hence coupon trades will not be closed out.



How is margin level calculated?

It is calculated by the following formula:

Margin level = (equity ÷ used margin) × 100%

If you don't have any trades open, your margin level will be “- “



Margin level example

If your account equity is $8,000 and your used margin is $2,000 then your margin level is 400%.

Important Economic Data - Released Dates

Economic Calendar
NFP:

At 15:30 (GMT +2) on the first Friday of every month



GDP of major currencies (EUR, USD, GBP, AUD, NZD & JPY):

Released on a quarterly basis.



CPI of major currencies (EUR, USD, GBP, AUD, NZD & JPY) :

Released monthly.



U.S. Initial jobless Claims :

At 15:30 (GMT +2) every Thursday



U.S. Durable Goods Orders :

At 14:30 (GMT + 2) once a month



FOMC Minutes:

The Committee meets eight times a year, approximately once every 6 weeks



EIA:

At 17:30 (GMT + 2) every Wednesday



OPEC meeting:

Twice in a year, usually in June and December

Candlestick Chart

Candlestick Chart
There are two basic candlesticks:

1. Bullish Candle: When the close is higher than the open (usually green or white).

2. Bearish Candle: When the close is lower than the open (usually red or black).



There are three main parts to a candlestick:

1. Upper Shadow: The vertical line between the high of the day and the close (bullish candle) or open (bearish candle).

2. Real Body: The difference between the open and close; colored portion of the candlestick.

3. Lower Shadow: The vertical line between the low of the day and the open (bullish candle) or close (bearish candle).



Candlestick Patterns


1.White Marubozu

Formation: When the opening price equals the bottom price and the closing price equals the top price. The body colour is white or green without shadows.

Meaning: The buyers maintained control of the price - Bullish.

Forecast: It indicates the continuation at the end of an uptrend or a reversal at the end of a downtrend.


2.Black Marubozu

Formation: When the opening price equals the top price and the closing price equals the bottom price. The body colour is black or red without shadows.

Meaning: The sellers maintained control of the price - Bearish

Forecast: It indicates the continuation at the end of a downtrend or a reversal at the end of an uptrend.


3.Closing Black Marubozu

Formation: When the closing price equals the top price and no lower shadow is created.

Meaning: The sellers took control of the price - Bearish.

Forecast: It indicates the continuation at the end of a downtrend or a reversal at the end of an uptrend.


4.Hammer

Formation: Small candlestick body with a long lower shadow and a short or absent upper shadow.

Meaning: The buyers were able to overcome the selling pressure and close near the open - Bullish.

Forecast: It indicates a reversal after a downtrend or a support level which requires further bullish confirmation.


5.Shooting Star

Formation: Small candlestick body with a long upper shadow and a short or absent lower shadow.

Meaning: The sellers were able to overcome the buying pressure - Bearish.

Forecast: It indicates a reversal after an uptrend or a resistance level which requires further bearish confirmation.


6.Spinning Tops

Formation: Small candlestick body with a long upper shadow and a long lower shadow.

Meaning: Neither the sellers or the buyers were able to take over - Neutral.

Forecast: If it forms during an uptrend, it could mean that not many buyers are left and a possible reversal might occur. If it forms during a downtrend, it could mean that not many sellers are left and a possible reversal might occur.


7.Doji

Formation: Opening and closing prices are effectively equal with a long upper shadow and a long lower shadow.

Meaning: Neither the sellers or the buyers were able to take over - Neutral.

Forecast: It indicates indecision and is often formed during resting periods after a significant move either higher or lower.



The above are some types of candlestick patterns that can be formed. The different types can be categorised as single, double and triple candlestick formations. Please always take market conditions and price action signal into consideration before acting on a single candlestick pattern.

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