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I'm sure right now most traders prefer to use both technical and fundamental analysis but me right now I just prefer to use technical analysis. Its better to plot than to think how the market will going to react base on this news and so on. For me fundamental analysis is more accurate but same time technical analysis is also better. I'm happy and earning good amount of money. I'm hoping that even though my skills is limited I can use technical analysis as my earning strategy.
Welcome @crestedenQuote:
Originally Posted by cresteden
Pivot point is very very useful method to make your forecast, because we use historic rates to determine future rate. f.e we took the highest, lowest and close price at New york session of yesterday then we calculate our pivot point. The formula is pivot point = (High + Low + Close ) / 3 is a strong level when the buyers and sellers decide to buy or to sell. In my interview if the market is bearish yesterday we can sell below the pivot point by taking profit from 35pips to 75pips in working day. However, if the market was bullish we can buy above the pivot point. But our stop losses should set above/below it by 40pips.
I will work with pivot point in trading following the the analysis you shared, nice one indeed Thanks for sharing
Very good definition of pivot points and now i will also make some trades the same as you had described and technical study is good way to read market, but when your prediction goes wrong, then one feels bad.Quote:
Originally Posted by oracle
Congratulation!Quote:
Originally Posted by rkajs
Our outlook for the pair of Eur/Usd For today is going to check our weekly resistance that is setting at the level of 1.2603. In this price we can decide to short selling by target towards our wekly pivot point 1.2465. But in the same times we can buy above this level for sclaping some pips 20pips to 35pips. In case of buying then stop loss must be set below the weekly pivot point. In case of selling must set our stop loss above the resitance 1.2603 then SL = 1.2653.
Analysis of market movements based chart study, moving averages, volume, open interest, formations, and other technical indicators. Source Forex-Metal. From all of them moving average is the best analysis.
In order to trading forex, you have to focus by making a plan, your capital must be never lost in a few orders (f.e: you have to lose up to 20 deals with a stop loss of 50pipd to 90pipd for margin call) then you'll save your account from losses. the second thing is choosing a startegy and practcing it on demo at least three months. Strategy has got an average time frame such as H1 / H4; respecing stop lose, and focus for never trading on news time. As well as try to trade one or two pairs (like eurusd and gbpusd).Quote:
Originally Posted by shilaFX
eurusd is in complicated position.without technical and fundamental analysis it is very risky to go on market.
Technical analysis has become portal for anyone who wants to enter the world stock market and investing successfully bourse, increased interest in technical analysis because it is based on analysis on the study and analysis of humans and their behavior within markets Almalaho decisions sale and purchase in the past and that the statement predict what will make decisions in the future.
trading with technical analysis, it is easier to be learned in the appeal of trading with news, technical analysis usually comes at the previous price history, so that we can predict the future price predictions