Forex Signal 19-23 October 2015: USDCAD buy , Bounce at Support Level

Let's start with the movement of  USDCAD

How to read this chart
1. Red dotted line = 200 SMA
2. Blue dotted line = 50 SMA
3. Yellow dotted line = 20 SMA

I will added a new horizontal line (white dotted line) as support level

Why i recommended to buy this currency:
1. the price is above 200 SMA
2. the SMA set is in a correct order
3. the signal appeared at the correct place, support level
4. the price rejected both support level and 20 SMA
5. the price shows a higher high

Enjoy your trade!

Forex Signal 12-16 October 2015: BUY GBPJPY

Why you should buy this currency?

1. GBPJPY still an upTrend

GBPJPY still has strong uptrend. You can see, only 20 EMA in the picture below has a red color (red color mean weak).

2. Price Divergence
Now i removed all the moving average and add MACD in to the chart. It's look better.

 

Because one of our MA is going down, we need a  price divergence to fight it. Divergence mean your indi and the price have a different path. Now let see again GBPJPY price movement:

My MACD is making a lower low, but GBPJPY weekly price movement making a higher high.

Based on this two reason so in the opening today i open a long position. Your stop loss must at the recent low of the MACD.

Enjoy your trade!

Forex Trading SetUp: Convergen Divergen, Price action vs Indicator

Let’s begin with definition

1. Convergence is described as when price action is generally following the same path as what we are seeing in our technical indicator. Basically, price and indicator are doing the same thing.
For example:

2. Divergence is described as when price action is not following the same path as what we are seeing on our technical indicator. Price and indicator are doing  the opposite thing.
For example:

We can conclude that:
Convergence = possible trend continuation
It's mean that you sholud trade by following trend. If the market has a down trend than you spoted a convergen where the market making higher high, both on price and indi. I think it's not a good trade, but if you still want to trade it, be sure about your risk reward ratio.

Divergence = possible trend reversal
This is a counter trend trading. You fight again the trend. You go short when the market still showing an up trend. Your target must be on the nearest support resistance level.

Once again we talk about market direction, where the price go.
Does the price have an up trend or a down trend?
You can use my MARS method or other indicator to determine the trend.

Enjoy your trade

* all charts is represent weekly price movement

Forex trading: GBPUSD, Pair to watch 5-9 October 2015

Halo,

Minggu ini ga ada signal jual atau beli yang tercipta. Tapi saya tertarik membahas salah satu mata uang utama yaitu Poundsterling (GBP).

Kenapa pound? Dalam pasangan mata uang yang saya perdagangkan ada dua pasangan mata uang yang melibatkan pound, yaitu GBPUSD dan EURGBP. Kedua pasangan mata uang ini berada pada titik kritis yang akan menentukan arah. GBPUSD hendak melakukan retest terhadap support level, sedangkan EURGPB kesulitan menembus resistance level. Mari kita lihat satu persatu:

1. GBPUSD

Harga penutupan GBPUSD pada hari jumat sangat dekat dengan support level, disekitar 1,5170. Pada grafik mingguan, GBPUSD membentuk pola candlestick “DOJI”. Pasar sepertinya menunggu sesuatu untuk menentukan kemana akan bergerak. Lebih jelasnya, lihatlah gambar berikut :

Jika melihat grafik mingguan GBPUSD diatas, akan lebih mudah bagi pasangan mata uang tersebut untuk melakukan pergerakan kebawah (berdasarkan MARS). Jadi saya akan memasang sell stop order pada hari senin pada harga terendah dari candle doji dengan menambahkan beberapa pips (bisa 10 atau 20 pip).

2. EURGBP

Jika GBPUSD melakukan tes terhadap support level, ERUGBP melakuan tes terhadap resistance level. Perhatikan gambar dibawah ini:

 

Untuk pasangan ini, karena tidak terdapat pola candle stick yang memperkuat arah pasar, maka kita akan melakukan tugas seperti bisa, menunggu.

Untuk membuat ini lebih menarik lagi, kita akan coba melihat apakah ada even penting yang akan terjadi seminggu kedepan untuk dollar dan pounds.

Ternyata banyak sekali even untuk pound yang akan terjadi pada seminggu kedepan. Dimulai pada hari rabu dan puncaknya pada hari kamis. Untuk lebih lengkapnya silahkan kunjungi fxstreet

ENJOY YOUR TRADE