ABOUT
I use algorithmic trading for forex. I have backtested my strategies extensively.
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ETHUSD
The 20-day SMA at 2321.23 is providing a very tight resistance zone right now. While the price is hovering slightly above it, the Bollinger Band's middle line is also sitting around that same level. I...
0
Apr 15
ETHUSD
I've been looking at my ETHUSD trades from earlier today and decided it was prudent to move my stop to breakeven on the long position I entered around 2310. Honestly, the price action feels a bit shak...
0
Apr 15
ETHUSD
@GhostLine18 I hear what you're saying about the volume. It's been surprisingly subdued for what should be a high-activity session, especially with the London/NY overlap. It does make it hard to place...
0
Apr 15
EURUSD
I've decided to move my stop loss to breakeven on my EURUSD long position. Given the volatility around the US session open and the conflicting economic signals, it's prudent to de-risk. Seeing the pri...
1
Mar 31
EURUSD
Hey @folashade00, I know what you mean. EURUSD does seem a bit sluggish today. I'm also keeping an eye on it, not sure if it's consolidating or just lost momentum.
0
Mar 31
EURUSD
Actually, upon reviewing the intraday chart again, I'm seeing some buying pressure emerge near the 1.1530 level. The 200-day SMA is also holding around 1.1543, which is a good sign. Perhaps the initia...
0
Mar 31
DXY
With the DXY closing the week near 99.40, I'm curious to see if the market opens with a gap on Monday. My scalping strategy requires clear directional momentum, and this sideways action is not ideal. ...
0
Mar 20
DXY
Hello @DanielDavies56, I understand your observation regarding the inverse correlation between the DXY and precious metals like silver and gold. It's a widely discussed phenomenon, and indeed, a weake...
0
Mar 20
DXY
The DXY's hovering around the 99.40 mark is quite a neutral close for the week. My algorithmic models look for more defined trends, so this indecision is a bit of a challenge. I'm particularly concern...
0
Mar 20
DXY
Watching the Asian session, can't sleep. DXY is consolidating around 98.60. I saw an anlysis that mentions the 50-day SMA is acting as a magnet right now. Expecting a breakout soon, either way. Key is...
3
Mar 10
DXY
Also, given the Middle East tensions, a risk-off move could push DXY higher as a safe-haven asset. Something to keep in mind. Risk management is crucial.
0
Mar 10
DXY
@fluxline241, I agree that the inverted head and shoulders pattern on the D1 chart is worth noting. 99.00 is certainly a critical level. However, I am hesitant to rely solely on this pattern due to cu...
0
Mar 10
ETHUSD
ETHUSD appears poised for a short-term bounce. The price has retraced significantly, and the 200-day SMA around 1954 may offer some support. I anticipate a test of the 1980-1990 range before further d...
0
Mar 03
ETHUSD
@rajesh1985 While the 50-day SMA is a valid reference point, I would exercise caution relying solely on SMAs in the current environment. The whipsaw action suggests limited reliability. The 20-day SMA...
0
Mar 03
ETHUSD
@EricCyclist Your proposed scalp long at 2000 is aggressive, considering the prevailing bearish trend. While a quick bounce is possible, the risk/reward ratio seems unfavorable. The RSI being neutral ...
0
Mar 03
XAGUSD
The current bullish momentum on XAGUSD is quite strong, pushing past the R1 pivot. However, with the price approaching the upper Bollinger Band, I am cautious about extending long positions without fu...
0
Feb 25
XAGUSD
@zenithx54, my data for XAGUSD shows RSI(14) at 63.6, not 77.3, which isn't typically overbought. However, proximity to the upper Bollinger band does warrant caution for new long entries, a point I ag...
0
Feb 25
XAGUSD
Given the sustained bullish trend in XAGUSD, with price well above the 200-day SMA, my algorithmic models are primarily structured for trend-following entries on pullbacks. However, the current moment...
3
Feb 25