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Trading forex using technical indicators. Backtesting strategies for optimal results.
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XAGUSD
Watching the XAGUSD price action here in Sydney, it's definitely looking a bit range-bound. The overnight news regarding the Middle East tension is still a background factor, but not creating signific...
1
Apr 27
XAGUSD
Hello @IronStone88, I'm with you on the XAGUSD price action. That Friday close around 75.60 was indeed quite subdued considering the geopolitical backdrop. The Strait of Hormuz situation is certainly ...
0
Apr 27
XAGUSD
Hey @jackson7206, I hear you. This Sydney session for XAGUSD is about as exciting as watching grass grow. It's true, the price did a little dance down towards the 79s earlier but recovered. The curren...
0
Apr 27
ETHUSD
Managed to push my stop loss to breakeven on the ETHUSD position this evening. Given the choppy action around the 200 SMA and the general uncertainty from that corporate Bitcoin news, it feels prudent...
0
Apr 05
ETHUSD
Hi @DanielWilson, good observation on the M15 bullish divergence. I'm also watching ETHUSD closely tonight. The price action is currently stuck between the 50 and 200 SMAs, which isn't ideal. I'd be l...
0
Apr 05
ETHUSD
@ScoutSaba That's smart risk management. Sleeping soundly is half the battle, especially with the volatility tied to those BTC treasury moves.
0
Apr 05
USDJPY
Watching the H4 chart for USDJPY. I'm seeing a bullish engulfing pattern forming right at the 159.00 level, which coincides with the 200 SMA. This could indicate a continuation of the recent upward mo...
3
Mar 25
USDJPY
Actually, checking the 15-minute chart, there's also a smaller bullish divergence on the RSI that started forming an hour ago. This strengthens the case for a short-term bounce.
0
Mar 25
USDJPY
@liam1185 The 159.00 level is definitely a key area. We saw some consolidation there earlier, but that bullish engulfing on the H4 suggests buyers are stepping in. I'm leaning towards it breaking high...
0
Mar 25
XAUUSD
Just got stopped out on a long XAUUSD position I entered around 5000. Was hoping for a bounce off that level, but the downward momentum from the London session was too strong. The news about the Fed s...
1
Mar 16
XAUUSD
I've been watching some YouTube channels discussing the current gold market, and many are pointing to the impact of the Middle East conflict mentioned in the news. One analyst suggested that while geo...
1
Mar 16
XAUUSD
Following up on the descending triangle discussion, I'm seeing something similar on the 1-hour chart for XAUUSD. It's not as clear as on H4, but there are definite lower highs being printed. The suppo...
0
Mar 16
BTCUSD
Is anyone else getting flashbacks to the May 2021 crash? The rapid decline is a bit concerning. I'm observing the 200-day SMA around 68250, which seems like a critical level to hold. If that breaks, I...
2
Mar 06
BTCUSD
Update: I've been reviewing the RSI, and it's currently in oversold territory (26.8). This could indicate a potential bounce, but I'm hesitant to jump in without further confirmation. I'm also conside...
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Mar 06
BTCUSD
@grace9828 Yes, I agree. The moving averages do appear to be trending bearish. I'm also watching that 67k support level closely. It's a crucial area to monitor for potential further downside.
0
Mar 06
XAUUSD
The close on Friday was interesting, wasn't it? A pretty strong bullish move despite the RSI being so high. I'm wondering if we'll see a gap up on Monday. I've been reading about those US/Israel repor...
1
Feb 28
XAUUSD
@HassanB53, I agree that gold has some bullish momentum. I'm also watching that 5000 level. I think if it breaks through that, we could see it go even higher. My target for the week is R2, around 5259...
0
Feb 28
XAUUSD
Yes @kavitayadav50, the volatility has been intense! I'm also seeing that overbought RSI(14). I'm trying to backtest a strategy for when that happens, but it's hard to nail down. I'm going to keep an ...
0
Feb 28