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EURUSD & GOLD

  • #2,581
  • Jul 22, 12:08pm (39 hr ago) Jul 22, 12:08pm (39 hr ago)
Something tough at 4144
  • #2,582
  • Jul 22, 12:08pm (39 hr ago) Jul 22, 12:08pm (39 hr ago)
house money now
later might go near 4190 if bulls hold it >4130
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  • #2,583
  • Jul 22, 12:29pm (38 hr ago) Jul 22, 12:29pm (38 hr ago)
Maximum up to 4400 and then drop
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  • #2,584
  • Jul 22, 12:40pm (38 hr ago) Jul 22, 12:40pm (38 hr ago)
Quoting PatienceFx
i do not plan to trade to earn, instead i trade strictly for time pass as i am a permanently disabled bed ridden ppms patient for whom money has no value because i do not need it That completely shifts the picture. If trading is an intellectual game to keep your mind active, engage with global macro events, and pass the time, then prop firm rules, risk caps, KYC checks, and regulatory hurdles are just unnecessary friction. When money doesn't matter and you aren't trying to generate an income, you don't need to fight through administrative red tape...
I read your post, and it's good to know your perspective, since that's precisely what every trader deals with daily—their own psychology. I want to try to understand your situation, and I really appreciate your input.
  • #2,585
  • Jul 22, 12:51pm (38 hr ago) Jul 22, 12:51pm (38 hr ago)
gold here now
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  • #2,586
  • Jul 22, 12:53pm (38 hr ago) Jul 22, 12:53pm (38 hr ago)
It was a combination of factors:
-US02y yields fell;
-the DXY lost momentum;
-when gold broke above a key resistance level watched by the market:
a) technical buying kicked in above that level; b) a short squeeze occurred (short-position stop-loss orders were triggered, thereby accelerating gold buying).

Pay close attention to the 2-year yields as well, as they indicate potential changes to the federal interest rate in the near term (September). Gold reacts strongly when the US 2-year yield falls.
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  • #2,587
  • Jul 23, 12:09am (27 hr ago) Jul 23, 12:09am (27 hr ago)
Probable:
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  • #2,588
  • Jul 23, 12:53am (26 hr ago) Jul 23, 12:53am (26 hr ago)
basic bb + rsi is your guiding light , rest is chart decoration
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  • #2,589
  • Jul 23, 5:21am (22 hr ago) Jul 23, 5:21am (22 hr ago)
testing something new

  1. The Heuristic Scanner (ScanMarketSetups): The EA simultaneously evaluates three distinct algorithmic paradigms in the background:

    1. Trend (Moving Average Crossover): Looks for early shifts in momentum via 9/21 EMA crosses.
    2. Volatility Breakout/Mean Reversion (Bollinger Bands): Identifies when price violently steps outside normal distribution ranges and gets rejected back inside.
    3. Momentum Shifts (Parabolic SAR): Triggers when short-term price velocity abruptly reverses.

  2. Dynamic Chart Manipulation (ChartIndicatorAdd / ChartIndicatorDelete):

    1. To keep your chart clean, the EA suppresses all indicators while it scans.
    2. When it identifies a setup (e.g., a volatility spike), it dynamically forces the Bollinger Bands onto your chart so you can visually verify the exact setup the EA is flagging. When the setup is resolved, it wipes the chart clean again.

  3. The Guidance UI: A dashboard is created in the top left. If the EA finds a Bearish Parabolic SAR flip, the text flashes orange with the specific logic, the required SAR dots are mapped to your chart, and the Accept SELL button natively appears, pre-loaded with the lot size you specified in the EA inputs.
  4. User Control: The EA acts strictly as an advisory system until you click the button. You can click "Reject Setup" to dismiss the visual aids, which forces the EA to resume background scanning.

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  • #2,590
  • Jul 23, 5:32am (21 hr ago) Jul 23, 5:32am (21 hr ago)
Quoting PatienceFx
testing something new The Heuristic Scanner (ScanMarketSetups): The EA simultaneously evaluates three distinct algorithmic paradigms in the background: Trend (Moving Average Crossover): Looks for early shifts in momentum via 9/21 EMA crosses. Volatility Breakout/Mean Reversion (Bollinger Bands): Identifies when price violently steps outside normal distribution ranges and gets rejected back inside. Momentum Shifts (Parabolic SAR): Triggers when short-term price velocity abruptly reverses. Dynamic Chart Manipulation (ChartIndicatorAdd / ChartIndicatorDelete):...
the code automatically decides which indicator is best , i need not bother lol

just testing on ftmo
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  • #2,591
  • Jul 23, 5:42am (21 hr ago) Jul 23, 5:42am (21 hr ago)
i gave the AI a tough job lol
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  • #2,592
  • Jul 23, 5:50am (21 hr ago) Jul 23, 5:50am (21 hr ago)
grand now i just accept or reject, everything else is automatic
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  • #2,593
  • Jul 23, 5:54am (21 hr ago) Jul 23, 5:54am (21 hr ago)
ive just started trading and now im even more confused then i was before
  • #2,594
  • Jul 23, 3:38pm (11 hr ago) Jul 23, 3:38pm (11 hr ago)
Quoting RadiantFawn
ive just started trading and now im even more confused then i was before
Here, we discuss and aim to refine a trading method based on economic news from the daily calendar. We have explained things in a way that makes this thread excellent for learning; I believe it is well worth reading.

Earlier, Professor PatienceFX referred to two fundamental technical indicators: Bollinger Bands and the Relative Strength Index (RSI). Master these indicators and start by trading on a demo account until you prove to yourself that you can be profitable. Only then should you switch to live trading. If you trade solely based on technical analysis, the risk is very high.
However, the most important thing is to understand the direction of the USD or EUR as indicated by the news calendar.
DO NOT TRADE DURING USD NEWS RELEASES until you have gained sufficient experience.
Once the news reveals the EUR or USD's direction, wait for a technical opportunity to enter a trade aligned with that direction.
Try to understand what drives price movements—generally, key economic indicators such as the federal interest rate, GDP, employment and unemployment, inflation, and FOMC statements. Secondary indicators can also move the market if the released data differs significantly from forecasts.

Geopolitical events (wars, crises, pandemics, extreme natural phenomena, etc.) can drastically alter the market direction suggested by the daily news calendar.

We are focusing here on intraday trading.

Good luck!
  • #2,595
  • Jul 23, 10:30pm (4 hr ago) Jul 23, 10:30pm (4 hr ago)
clarifying with example and i am, not a professor

 

  1. jobless claims less than forecast == more people went to work == usd strong == gold fell

it is that easy

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  • #2,596
  • Jul 23, 10:49pm (4 hr ago) Jul 23, 10:49pm (4 hr ago)
if new home sales comes less than expected then gold will be most probably just flat because we have a war and rising oil to keep inflation and hence usd high
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  • #2,597
  • Jul 23, 11:56pm (3 hr ago) Jul 23, 11:56pm (3 hr ago)
on any time frame a good trade is when rsi is near 50 level [ point of balance ]
  • #2,598
  • Jul 24, 1:12am (2 hr 14 min ago) Jul 24, 1:12am (2 hr 14 min ago)
Quoting PatienceFx
if new home sales comes less than expected then gold will be most probably just flat because we have a war and rising oil to keep inflation and hence usd high {image}
gelubrin do you see the news pattern in my screenshot, does this give you a hint ?
  • #2,599
  • Last Post: Jul 24, 1:50am (1 hr 36 min ago) Jul 24, 1:50am (1 hr 36 min ago)
Quoting PatienceFx
{quote} gelubrin do you see the news pattern in my screenshot, does this give you a hint ?

With higher mortgage rates, I’m led to believe that new home sales and building permits are stagnating in June.
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