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XAUUSD Forecast 02 03 2021XAUUSD Forecast 02 03 2021 The GOLD price dropped a little more and is now in a strong support zone at position 1716.93. This zone is formed by two lines. The first one appeared in August 2020, the second stronger one - in July 2016 Now the main question for all investors is when exactly gold will stop and begin to grow. I think this support zone is the perfect starting point for growth. I expect the price to bounce off it and rise towards the resistance zone. So my final target is the 1800.37 resistance zone.
OANDA:XAUUSDLong
by fxpremiere
EURUSD Forecast 02 03 2021EURUSD Forecast 02 03 2021 At the moment, the price of the pair is standing still and I am extending my previous forecast. Let me remind you that after the price fell from a strong resistance zone, it stopped at the support level of 1.202. From this position yesterday, I expected a fall to the support of 1.196 and after that a new growth began. I am extending my forecast and also expect the price to rise from the lower border of the channel to the upper one. Thus, my final target is the resistance line at 1.262
Long
by fxpremiere
USDCHF Forecast 02 03 2021USDCHF Forecast 02 03 2021 During the growth in an uptrend, which originates in December 2020, the price broke through the support zone of 0.904 and then came to the resistance zone. This zone consists of the resistance line of December 2020 and the strong level of 0.918. The price is on the line right now, but I expect it to rise a little more and be able to break it. After that, it touches the level and already from it will unfold in the fall. The price breaks the line again this time during the fall and then drops to the support zone. Thus, my final target is the 0.904 support zone.
Short
by fxpremiere
XAUUSD 01 03 2021 GOLDXAUUSD 01 03 2021 GOLD Gold bounced off the 1726.22 support line and returned to the 1750.38 support line. This is growth after the big collapse that happened last week. The price bounced off a strong support line formed in June /july 2016. From this line, We expect the price to rise to the resistance zone. The price will first fix on the line in the area of 1745.77, after which it will break through the level of 1800.41 and rise to the resistance line of 1812.75. From this point it will be possible to start a sell deal. Because from there the price will reverse and fall again into the support zone 1732.45 TARGET
OANDA:XAUUSD
by fxpremiere
EURJPY 01 03 2021EURJPY 01 03 2021 From April 2020, the price eventually came to the resistance line 130.23, which appeared on the chart in October 2019. Having touched this line, the price reversed and is now in the process of falling. I expect it to go down to the 127.86 support zone first. This zone is formed by two lines - May 2020 and August 2019. Therefore, I expect that, having touched it, the price will rebound in growth. Thus, my final target is the resistance line 130.69. Lets see how it goes
Long
by fxpremiere
GOLD - DAY TRADE VIEWGOLD - As per the price action, trend lines , & technical indicators gold is expected to go up from the current price. My approach will be a buy here at current price 1749 Potential upside target 1758 - 1772 Maintain stop loss around 1734 Trade as per your risk appetite, I will be glad to see your likes & comment. Why you should follow this tradingview account ? Managed by top most renowned trader - Pulak Priyesh 10 + years of trading experience Professional Day trader Excellence award winning mentor Professional chart, clear chart without junks. Major S/R levels with inner insights Frequent Day & Swing trade levels All major and minor FX/INDICES covered. Thanks
OANDA:XAUUSDLong
by Professor_GS
2
GBPUSD DOWNHILL TRENDGBPUSD IN FEB, the price was able to break through the strong resistance line that was formed in April 2020. The price broke through it at point 1.292, after which it rallied, touched the local resistance and returned behind the line. This happened at the beginning of today's trading session. Thus, the price returned to the uptrend. And now she keeps falling. So I expect the price to move down to the lower trend line, the 1.382 support line during this fall.
Short
by fxpremiere
Managing Risk Efficiently in Six StepsManaging Risk Efficiently in Six Steps Any analyst or trading guide will tell you how important it is to manage your risk. However, how does one go about managing that risk? And what exactly do they mean by managing risk? Here is a step-by-step guide to one of the most important concepts in financial trading. 1. Determine Your Risk Tolerance This is a personal choice for anyone who plans on trading any market. Most trading instructors will throw out numbers like 1%, 2% or on up to 5% of the total value of your account risked on each trade placed, but a lot of your comfort with these numbers is largely based on your experience level. Newer traders are inherently less sure of themselves due to their lack of knowledge and familiarity with trading overall or with a new system, so it makes sense to utilize the smaller percentage risk levels. Once you become more comfortable with the system you are using, you may feel the urge to increase your percentage, but be cautious not to go too high. Sometimes trading methodologies can produce a string of losses, but the goal of trading is to either realize a return or maintain enough to make the next trade. For instance, if you have a trading method that places one trade per day on average and you are risking 10% of your beginning monthly balance on each trade, it would only theoretically take 10 straight losing trades to completely drain your account. So even if you are an experienced trader, it doesn’t make much sense to risk so much on one single trade. On the other hand, if you were to risk 2% on each trade that you place, you would theoretically have to lose 50 consecutive trades to drain your account. Which do you think is more likely: losing 10 straight trades, or losing 50? BALANCE $10,000 10% $1000 10 $10,000 5% $500 20 $10,000 3% $300 33 $10,000 2% $200 50 $10,000 1% $100 100 2. Customize Your Contracts The amounts of methodologies to use in trading are virtually endless. Some methods have you use a very specific stop loss and profit target on each trade you place while others vary greatly on the subject. For instance, if you use a strategy that calls for a 20-pip stop loss on each trade and you only trade the EUR/USD, it would be easy to figure out how many contracts you may want to enter to achieve your desired result. However, for those strategies that vary on the size of stops or even the instrument traded, figuring out the amount of contracts to enter can get a little tricky. One of the easiest ways to make sure you are getting as close to the amount of money that you want to risk on each trade is to customize your position sizes. A standard lot in a currency trade is 100,000 units of currency, which represents $10/pip on the EUR/USD if you have the U.S. dollar (USD) as your base currency; a mini lot is 10,000. Currency Trading If you wanted to risk $15 per pip on a EUR/USD trade, it would be impossible to do so with standard lots and could force you in to risking either too much or too little on the trade you place, whereas both mini and micro lots could get you to the desired amount. The same could be said about wanting to risk $12.50 per pip on a trade; both standard and mini lots fail to achieve the desired result, whereas micro lots could help you achieve it. In the realm of trading, having the flexibility to risk what you want, when you want, could be a determining factor to your success. 3. Determine Your Timing There may not be anything more frustrating in trading than missing a potentially successful trade simply because you weren’t available when the opportunity arose. With forex being a 24-hour-a-day market, that problem presents itself quite often, particularly if you trade smaller timeframe charts. The most logical solution to that problem would be to create or buy an automated trading robot, but that option isn’t viable for a large segment of traders who are either skeptical of the technology/source or don’t want to relinquish the controls. Trading Signals That means that you have to be available to place trades when the opportunities arise, in person, and of full mind and body. Waking up at 3am to place a trade usually doesn’t qualify unless you’re used to getting only 2-3 hours of sleep. Therefore, the average person who has a job, kids, soccer practice, a social life, and a lawn that needs to be mowed needs to be a little more thoughtful about the time they want to commit. Perhaps 4-Hour, 8-Hour, or Daily charts are more amenable to that lifestyle where time may be the most valuable component to trading happiness. Another way to manage your risk when you’re not in front of your computer is to set trailing stop orders. Trailing stops can be a vital part of any trading strategy. They allow a trade to continue to gain in value while the market price moves in a favorable direction, but automatically closes the trade if the market price suddenly moves in an unfavorable direction by a specified distance. When the market price moves in a favorable direction (up for long positions, down for short positions), the trigger price follows the market price by the specified stop distance. If the market price moves in an unfavorable direction, the trigger price stays stationary and the distance between this price and the market price becomes smaller. If the market price continues to move in an unfavorable direction until it reaches the trigger price, an order is triggered to close the trade. 4. Avoid Weekend Gaps Many market participants are knowledgeable of the fact that most popular markets close their doors on Friday afternoon Eastern Time in the US. Investors pack up their things for the weekend, and charts around the world freeze as if prices remain at that level until the next time they are able to be traded. However, that frozen position is a fallacy; it isn’t real. Prices are still moving to and from based on the happenings of that particular weekend, and can move drastically from where they were on Friday until the time they are visible again after the weekend. How to Trade Forex This can create “gaps” in the market that can actually run beyond your intended stop loss or profit target. For the latter, it would be a good thing, for the former – not so much. There is a possibility you could take a larger loss than you intended because a stop loss is executed at the best available price after the stop is triggered; which could be much worse than you planned. Managing Risk Efficiently in Six Steps While gaps aren’t necessarily common, they do occur, and can catch you off guard. As in the illustration below, the gaps can be extremely large and could jump right over a stop if it was placed somewhere within that gap. To avoid them, simply exit your trade before the weekend hits, and perhaps even look to exploit them by using a gap-trading technique. 5. Watch the News News events can be particularly perilous for traders who are looking to manage their risk as well. Certain news events like employment, central bank decisions, or inflation reports can create abnormally large moves in the market that can create gaps like a weekend gap, but much more sudden. Just as gaps over the weekend can jump over stops or targets, the same could happen in the few seconds after a major news event. So unless you are specifically looking to take that strategic risk by placing a trade previous to the news event, trading after those volatile events is often a more risk-conscious decision daily forex signals 6. Make It Affordable There is a specific doctrine in trading that is extolled by responsible trading entities, and that is that you should never invest more than you can afford to lose. The reason that is such a widespread manifesto is that it makes sense. Trading is risky and difficult, and putting your own livelihood at risk on the machinations of market dynamics that are varied and difficult to predict is tantamount to putting all of your savings on either red or black at the roulette table of your favorite Vegas casino. So don’t gamble away your hard-earned trading account: invest it in a way that is intelligent and consistent. MANAGE YOUR TRADES, MONEY & RISK So will you be a successful trader if you follow all six of these tenants for managing risk? Of course not, other factors need to be considered to help you achieve your goals. However, taking a proactive role in managing your risk can increase your likelihood for long term success.
XEducation
by fxpremiere
1
GBPAUD future movementsGBPAUD future movements After a strong growth spurt from October 2019 to May 2020, the price returned to within the strong resistance level of 1.841. And the last few months it has been moving without growing above this mark. The fall in price is controlled by a strong support line - 2013. In January, the price bounced off this line at point 1.743 and now I expect it to rise to the resistance level. After touching the level, the price will reverse and start falling. During the fall, it will return to the support line at 1.753. This is our goal.
by fxpremiere
RIPPLE XRP SEC FINERIPPLE XRP SEC Files Amended Complaint Against Ripple, as Pretrial Begins The United States Securities and Exchange Commission (SEC) has filed an amended complaint towards Ripple, alleging that it willfully misled investors with XRP. The amended complaint got filed just a few days before the pretrial hearing between the SEC and Ripple, which began on February 22. While it originally accused Ripple Labs and its top executives of violating securities laws with a $1.3 billion XRP sale, the regulatory body is now alleging that Mr Garlinghouse and Larsen intentionally manipulated XRP’s market price by increasing and lowering their XRP sales to suit market conditions. The amended SEC complaint stated that “from at least 2013 through the present, Defendants sold over 14.6 billion units of a digital asset security called ‘XRP,
XShort
by fxpremiere
USDCHF REVERSAL IN PROCESSUSDCHF Forex Chart I THINK AT THIS POINT USDCHF MIGHT MAKE A BIG REVERSAL USDCHF am really liking the set up am seeing on this pair Last week, the price bounced off the lower border of the ascending channel and broke through the strong support line at 0.894 during the rise. This line has been around since summer 2020 and now gives the price a strong base for growth. After the breakout, the price fixed on the line, but eventually stopped at the resistance line - the upper border of the channel - 0.902. Now the price is in the fall and I expect that first of all it will go down to the strong support zone of 0.892. This zone is just formed at the intersection of the 2020 line and the trend line of the beginning of 2021. And then the price will rise to the resistance line of 0.905.
Short
by fxpremiere
2
USDCAD FORECAST LONGThe price is at position 1.260, which it came to after the return of the downtrend and fall from the resistance line. This support zone is incredibly strong. It is formed by the June 2018 line and the 2008 line! Therefore, new growth can now be expected. While the overall downtrend continues, I now expect the price to bounce off the strong support zone and rise to the resistance line - which also emerged in 2018. So my final goal is 1.281. Lets hope it follows suit
Long
by fxpremiere