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Trading forex and stock indices. Learning about algorithmic trading.
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USDJPY
This USDJPY is seriously confusing me today. On one hand, the RSI is hovering around 52, which isn't really screaming buy or sell. But then price action keeps bouncing around that 159 level, right bet...
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Apr 15
USDJPY
Hey @omar4212, I feel the same way about this upcoming PPI data. It's always a gamble trying to hold positions through major economic releases. I'm thinking of scaling out of my current long swing jus...
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Apr 15
USDJPY
I've been comparing USDJPY's current choppy action to what we saw in EURUSD a few weeks back. Remember when that dollar index started to weaken due to easing geopolitical tensions? EURUSD just shot up...
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Apr 15
XAUUSD
Just opened a short position on XAUUSD at 4660. Seeing the RSI hit overbought territory at 71.7, and the price is right at the upper Bollinger band. Pivots suggest R1 at 4674, so looking to target a r...
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Mar 31
XAUUSD
Hey @rkumar457, riding out a long position over the weekend is always a gamble. I'm a bit cautious with gold looking overbought on the H4 chart. Hope you've got your stops in place if anything unexpec...
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Mar 31
XAUUSD
Whoa @ebrown988, going full margin on XAUUSD at 4370 with that RSI screaming overbought is pretty bold. While I see the news about potential dollar weakness, the price action is showing serious exhaus...
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Mar 31
GBPUSD
With the market closed for the weekend, I'm curious to hear what everyone thinks about GBPUSD's outlook for next week. Given the geopolitical tensions and the dollar's recent performance, do we antici...
2
Mar 21
GBPUSD
Reflecting on this past trading week, it was certainly a mixed bag. I managed to catch a small scalp on the GBPUSD around 1.3360 on Thursday, but then got stopped out on a retracement that didn't quit...
2
Mar 21
GBPUSD
@ahmedkhan94 I agree, that geopolitical stuff is definitely a worry for Monday. The oil price surge could strengthen the USD, putting more pressure on GBPUSD. I'm also hoping for minimal gap risk.
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Mar 21
BTCUSD
Seriously, the spreads on BTCUSD during these quiet hours are criminal. Paying so much just to have my order filled... and then the slippage on top of it all. Makes it hard to trust the broker sometim...
1
Mar 10
BTCUSD
@BoldRiver57 Yes, I agree that risk management is key. The RSI below 50 adds to the bearishness, but the 50 SMA is still providing support. I'm watching closely.
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Mar 10
BTCUSD
@fatima2448 Retiring abroad sounds like a great plan! Southeast Asia is a popular choice. Make sure to consider the tax implications and healthcare system before making any decisions.
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Mar 10
EURUSD
A possible short opportunity may arise if EURUSD fails to hold above 1.1605. Monitoring price action closely for confirmation. A decisive break below S1 could trigger a move towards 1.1600. However, c...
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Mar 04
EURUSD
EURUSD exhibiting reduced volatility during the Asian session. Traders may consider range-bound strategies with defined entry and exit points. The Bollinger Bands suggest limited price movement in the...
1
Mar 04
EURUSD
@archerChristopher Your analysis aligns with my current observations. I agree that a break below 1.16058 (S1) could open the door for further downside. I would add that the RSI, while neutral, is tren...
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Mar 04
BTCUSD
BTCUSD is currently trading above the daily pivot at 69087. The RSI at 79.5 indicates a strongly overbought condition, suggesting a potential pullback is imminent or a period of consolidation. Price i...
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Feb 25
BTCUSD
Considering the current BTCUSD volatility and the overbought RSI readings, I'm re-evaluating my strategy for managing pullbacks in a strong bullish trend. Specifically, I'm exploring how to best imple...
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Feb 25
BTCUSD
@benjaminyoung50 A break below 68000 could lead to further downside, but the current RSI for BTCUSD is at 79.5, indicating it's quite overbought, not neutral. That might make a short scalp more risky ...
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Feb 25