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Selected Ideas

GOLD to bounce off from current level and continue bullish
XAUUSD ·
Wed Apr 03 10:30:39 UTC 2024
PEPPERSTONE:XAUUSD GOLD had been bullish for multiple weeks for now. Today, London had some correction moving into the news tonight. 1H chart has also created a bullish divergence. I would like to see a bounce off back towards the buy side.
Details
EUR/USD
EURUSD ·
Wed Apr 03 10:31:56 UTC 2024
Hello dear trader friends Let's hunt for a trade time of 15 minutes Use the 1 minute time frame to enter! In the picture, I clearly defined everything so that there is no need for additional explanations. Example of Mark Douglas (Eat like a sparrow, poop like an elephant) Smart Money Liquidity Hunter
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Above 2260, gold will continue its bullish pattern
XAUUSD ·
Wed Apr 03 10:33:10 UTC 2024
Dear friends, gold hit its highest level near 2288 and then fell back. It is currently trading near 2271. Gold is currently showing an irrational market. On the one hand, due to the expansion of the situation in the Middle East and the conflict between Russia and Ukraine, safe-haven assets have been rushing into the market. On the other hand, silver and oil have...
Details
EURJPY
EURJPY ·
Wed Apr 03 10:33:42 UTC 2024
EURJPY has been in an overall uptrend shown from a top down analysis meaning that we are mostly looking for buying opportunities. EURJPY has given us an ascending triangle in the 4hr timeframe making a good confirmation for a buy opportunity. Inside the triangle we have an inverse head & shoulder showing a trend reversal as another confirmation why it is going to...
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GBP/JPY - Potential Upside Opportunity from Key Support Level
GBPJPY ·
Wed Apr 03 10:35:34 UTC 2024
Key Support Level Analysis: GBP/JPY currently finds itself positioned at a crucial support level, indicating a potential opportunity for upward movement in the market. This support level, identified at 190.400, has historically demonstrated a significant influence on price action. Entry Strategy: Traders looking to capitalize on the anticipated upward...
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divergence
XAUUSD ·
Wed Apr 03 10:35:35 UTC 2024
In my opinion, these gold prices are suitable for selling, all long-term and short-term resistances and classical and harmonic patterns will indicate the decline of gold.
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Economic Calendar
06-2106-2206-2306-2406-25
  • Actual
  • Forecast
  • Prior
  • 10:00
    Belgium Consumer Confidence
    -
    -
    -7

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News

Minutes of the June meeting of the Reserve Bank of India: Governor Das said that the last mile in the fight against inflation is gradual and long-lasting. Inflation is gradually easing, but at a very slow pace. Normal monsoon weather may ease food price pressures. Any hasty move to take a different policy direction will do more harm than good.

News Flash21-06 11:34From XTrend Speed
Minutes of the June meeting of the Reserve Bank of India: Governor Das said that the last mile in the fight against inflation is gradual and long-lasting. Inflation is gradually easing, but at a very slow pace. Normal monsoon weather may ease food price pressures. Any hasty move to take a different policy direction will do more harm than good.

Minutes of the June meeting of the Reserve Bank of India: Deputy Governor Patra said that India's economic activity is generally in line with the baseline forecast. The pace of inflation slowdown has been disappointing so far. Food inflation has persisted for too long, becoming a major obstacle to fighting inflation and hindering consideration of possible changes in the monetary policy stance.

News Flash21-06 11:33From XTrend Speed
Minutes of the June meeting of the Reserve Bank of India: Deputy Governor Patra said that India's economic activity is generally in line with the baseline forecast. The pace of inflation slowdown has been disappointing so far. Food inflation has persisted for too long, becoming a major obstacle to fighting inflation and hindering consideration of possible changes in the monetary policy stance.

Acting Bank of Spain Governor: The government hopes to appoint a new central bank governor in the coming weeks.

News Flash21-06 11:21From XTrend Speed
Acting Bank of Spain Governor: The government hopes to appoint a new central bank governor in the coming weeks.

France's left-wing "New Popular Front" coalition: We do not intend to finance our plans by increasing the deficit.

News Flash21-06 11:02From XTrend Speed
France's left-wing "New Popular Front" coalition: We do not intend to finance our plans by increasing the deficit.

Kremlin: The prospect of Moldova joining the EU is a sovereign matter for Moldova, but many Moldovans are also interested in future ties with Russia.

News Flash21-06 10:41From XTrend Speed
Kremlin: The prospect of Moldova joining the EU is a sovereign matter for Moldova, but many Moldovans are also interested in future ties with Russia.

Kremlin: (Asked about the prospects for negotiations with the United States on nuclear risks) Russian President Vladimir Putin is only open to comprehensive negotiations that include Ukraine.

News Flash21-06 10:40From XTrend Speed
Kremlin: (Asked about the prospects for negotiations with the United States on nuclear risks) Russian President Vladimir Putin is only open to comprehensive negotiations that include Ukraine.

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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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