Trend lines are lines drawn on the historical price levels that predict general direction of where the marking is heading and provide indication of support/resistance. Drawing trend lines is a highly subjective matter. The best test of whether a trend line is a valid one is usually whether it looks like a good line. In an
This Blog post details how the Set Files were decided during optimization, it will also show alternative settings. Expert Set Files and Optimizations for RTR Momentum Trend USDJPY FX+ (23rd October 2023) Broker Data: Darwinex UK. Terminal: MT5 Date Range tested: 01-Jan-2018 to 15-Oct-2023 (5 YEARS 9MONTHS) Leverage: 1:25 Deposit: $10,000 US Dollars Risk per
Share: In its latest report published on Tuesday, the International Monetary Fund (IMF) upgraded its gross domestic product (GDP) growth forecasts for China to 5.4% in 2023 and 4.6% in 2024. This came in contrast with October’s outlook when the IMF revised down 2023 and 2024 China’s growth forecasts for China to 5.0%
The shooting star price action pattern is a bearish signal that signifies a higher probability of the market moving lower than higher and is used primarily in down trending markets. In essence, it is the opposite of the hammer pattern. Here is an example of what a shooting star candle looks like:
European Central Bank President Christine Lagarde spoke in an interview with Greek newspaper Kathimerini. The ECB posted the interview on its site, here: Speaking to the Greek newspaper, President Christine Lagarde reflects on the Greek economy’s strong recovery in recent years, and reiterates the ECB’s determination to return euro area inflation to 2% Highlights: “We
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Hello traders, Today I spotted three trading setups and l placed four positions in total. My first trade was a short position on GBPGBY 1 hour timeframe. it was a well formed supply zone that was formed inside higher timeframe zone. Finally price went through the zone and it was losing trade. After that, I
EUR/USD: A Bad Week for the Dollar ● Throughout the week, the Dollar Index DXY, along with EUR/USD, appeared to be riding the waves, moving up and down. At the beginning of the week, preliminary data for Europe was released. In terms of annual growth, the GDP of the Eurozone in the third quarter was
Bollinger bands are a volatility indicator, used by traders to identify areas of support and resistance and areas in which an asset might be experiencing increased or decreased volatility. Bollinger bands are calculated from three lines drawn onto a price chart. The first is the simple moving average (SMA) of an asset’s price over a
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