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Strategy Contest – June 2020 - Article

I will try to explain in this article the underlying theory related to the overbought and oversold strategies. This is the strategy used by my contest strategy.
Charles Dow (considered the father of technical analysis) had noticed that any asset prices series experienced recurring cycles indefinitely. He noted three different phases related to price movements, whether in a bull or bear market.
In a bull market, we have:
The Phase 1: The Accumulation Phase
The first phase of a bull market is …
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GBPUSD DOWN TREND NEXT MONTH

On H4 chart, there is a return of the downward dynamics after correction, and the instrument is traded between the lower and middle lines of Bollinger Bands. MACD histogram is near the zero level, and its volume is minimal, the signal line is reversing down.1.3100, 1.3080, 1.3050, 1.3025, 1.3000.
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EURUSD DOWN TREND NEXT MONTH

The quantitative easing program will be completed by the end of this year, as it was planned. Thus, in the global perspective, the dollar still remains a more attractive asset for investment, given the differential in interest rates in the US and the EU.
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USDJPY UP TREND NEXT MONTH

Taking the lower boundary of the ascending channel is unlikely but the instrument may unsuccessfully test the level of 110.50 once again and go to the growth stage. In the medium term, the pair can be expected at the local highs of 112.40, 113.25. The instrument can transfer into a more sloping ascending channel, but it should continue growing. Indicators on the D1 chart and above confirm the forecast: MACD shows the preservation of the high volume of short positions, and Bollinger Bands are dir…
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EURusd overview

Yesterday, 1 described in the United States.The quarterly growth rate was revised downwards according to previous calculations, while some fed/FOMC members ' speeches after data will be followed. St. George'sLouis Fed Chairman James Bullard: rapid interest rates will harm the economy, while Atlanta Fed Chairman Raphael Bostic: trade Wars concern, the rapid increase in interest rates can cause the goal to be exceeded, he warned. The leading CPI figures announced in Germany yesterday mostly fell b…
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EURusd overview

Comments from European Central Bank(ECB) officials continue to be effective on the pair side. Finally, the President of the Central Bank of Lithuania's speech that quantitative monetary expansion should not continue after December has led to upward attacks on the currency side despite recent political uncertainties in Germany. On the US side, the new home sales data we have followed yesterday is above expectations, while developments in trade wars are closely monitored. The latest US President D…
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EURUSD short2 (04 Jan 2018)

I took another short trade in EURUSD despite taking a hit in the first one. I felt that USD will again move toward 1.20 or somehwere closer. I looked at the chart and found that there is a big possibility of it moving down 50-80 points down.
Eventhough I follow technical analysis, my personal views are more important to me.
I went short 1Mill @ 1.20747 with a Take Profit target at 1.2015. Stop Loss is kept at 1.2100. I might take profit this time if it gives me more than 25 pips, as I have felt …
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AUDUSD Bullish Sentiment-Technical analysis

Charts used for reference: Weekly, Monthly and Daily
Added Indicators: 1. Ichimoku, 2.Pattern 3. CCI
Forecast visualization: Using Time Marker, Price Marker, Poly lines and Price action reference through Indicators.
Forecast- The Bullish Trend is confirmed by the following:-
1. The price has broken the Kumo Cloud resistance
2. The Confirmative line Chikou Span is above the price chart
3. Kijun -sen line is horizontal but tenken-sen points upwards.
The forecast is further confirmed by analyzing t…
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First Strategy Dukascopy Contest

Today I'm posting my first strategy and thus taking part in the strategy contest. I have no knowledge whatsoever in coding Java but the Visual Jforex interface makes it a lot easier. Probably VJ won't be of any use if you need a more complex strategy so in the following months i'll be studying some Java language in order to make my own indicators.
Let's go the point of this first entry: iLPianto (that's the strategy's name, it's the italian word that describes the act of crying, with "il" being …
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Olga18375 avatar

interesting article!! well done!

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EUR/GBP-Bullish trend supported by falling wedge!

  • Charts: 4Hours, 1 Day.
  • Indicators: Fibonacci Retracements,CCI.
  • Prepared with :JForex 4.
  • Current Level :0.8265.
  1. EUR/GBP is in a channel down formation from 2009 followed by regular retracements.Last month the so called channel down has narrowed itself and now tend to look more and more like a falling wedge than a channel down.
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Alexana5 avatar
Alexana5 30 Mar.

Oh my,  Thank you for your analysis.

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Metal_Mind 21 Apr.

UPDATE 1: THe prediction looks good but there is a problem with the time scale. The price movement is a bit behind. By now i was expecting the bearish trend to reverse into a bullish sharp trend. Nevertheless the prediction  is in the books.

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Metal_Mind 30 Apr.

UPDATE 2: The deviation is 115 pips and could  be counted as wide counting that the target  settelemt is tomorow.

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Metal_Mind 30 Apr.

UPDATE 3 : Current price level  is 0.8218 which represents an 150 pips and over deviation. It looks like the deviation increased and with only one day to go this prediction could be busted.

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FINAL UPDATE Ș Deviation at settlement was over 175 pips from target,that beeing to far for a win.

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