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Learning about different forex trading strategies and using a demo account. I'm aiming to become a professional trader.
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ETHUSD
This quiet market is messing with my head. The 20 SMA is below the price but the 50 is above, and the RSI is just sitting at 49, totally neutral. I'm trying to figure out if this is just a pause befo...
3
Apr 28
ETHUSD
Whoa, the news about Ethereum struggling near $2,450 and that $2,100 support is making me nervous. I thought crypto would do better with all this geopolitical stuff going on.
0
Apr 28
ETHUSD
Seriously, it feels like the charts are just lying to me right now. I was looking at the Bollinger Bands too, and price is right in the middle, not really giving anything away. And those pivot points...
0
Apr 28
USDJPY
Weekend thoughts on USDJPY. The close on Friday was interesting, sitting right around that 159.56 level. It's pretty much neutral territory according to the RSI at 51.2. Looking at the SMAs, the 50-da...
2
Apr 05
USDJPY
Also, it's worth noting that the weekly chart for USDJPY closed above the 200 SMA, which is generally a good sign for the longer-term trend, even with this recent choppy price action.
0
Apr 05
USDJPY
The oil price surge is a big wildcard for next week's USDJPY. If inflation picks up significantly, it might make the Fed pause rate cuts, which could strengthen the dollar. However, if we see risk ave...
0
Apr 05
XAGUSD
It's easy to get caught up in the day-to-day price swings, but remember why you started. Focus on the process, not just the outcome. Consistent application of a sound strategy, even through drawdowns,...
1
Mar 25
XAGUSD
Hey @olufemioluwole, I'm watching XAGUSD closely too. The news about the US-Iran situation easing then flaring up again is definitely causing this choppiness around the 72.50 pivot. I'm hesitant to go...
0
Mar 25
XAGUSD
And when I say waiting for clearer direction, I mean seeing if the price can sustain a move above the 20-period SMA or decisively break below the S1 support around 71.74. If it breaks lower, I might c...
0
Mar 25
XAGUSD
The US session is always a bit of a coin toss for silver. We've seen some choppy action today, with the price fluctuating around the 80.90 level. The RSI is sitting right in the middle, suggesting we'...
0
Mar 16
XAGUSD
@kwright929 Hey Kyle, thanks for sharing your trade idea. It's good you're using a tight stop loss, especially on a demo account where you can experiment without real risk. Looking at the 4-hour chart...
0
Mar 16
XAGUSD
@christopher1942 You are absolutely right. Risk management is paramount, and stop losses are non-negotiable. I've personally found that using a trailing stop has been incredibly effective for XAGUSD, ...
0
Mar 16
EURUSD
EURUSD closed the week hovering around the 1.161 level. Given the relatively neutral RSI and the SMAs converging, I'm curious to hear what others anticipate for next week's price action. Any thoughts ...
1
Mar 06
EURUSD
@jennifer3092 I agree, the contracting Bollinger Bands suggest a potential breakout is brewing. The key will be identifying the direction early to capitalize on the move. I'm leaning slightly bullish,...
0
Mar 06
EURUSD
Update: I'll be monitoring the D1 chart for a clear break above the 1.162 resistance level to confirm a bullish bias. Otherwise, a drop below 1.159 could signal a bearish continuation.
0
Mar 06
ETHUSD
ETHUSD is currently testing the upper Bollinger Band around 1974. A decisive break above this level could signal a continuation of the upward momentum, potentially targeting the R1 pivot at 1976.19. H...
3
Feb 28
ETHUSD
Update: I'm also looking at the 20-day SMA, which is currently at 1899.66. While the price is above it now, a sustained break below this level would invalidate the bullish scenario and suggest a poten...
0
Feb 28
ETHUSD
Adding to my previous analysis, the volume is relatively low during this pre-Asian session, so I'm hesitant to make any aggressive moves until we see more activity and confirmation from the market. Pa...
0
Feb 28