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USD/JPY down to 108.4 and past according to my ARIMA ML modelpasteboard.co I have used the presented leading drivers from the book "The art of currency trading" by Brent Donnelly to build an ARIMA machine learning model, using the us 2y 5y and 10y bond interest rates as well as gold, spx and nikkei225 to build the model, i had entered at 108.848 and set my take profit for 108.4, went to sleep had i been awake i would have taken profit when the market nearly touched this mark, the median line for the regression model is at 108.25 area, according to price action i believe this looks like a retest before going back down. #superquanttrader picture of my model in the link above! as you can see the market as respected this regression predictor fairly well in the past, I am also confident due to the mac d indicator indicating a sell on the 4 hour time frame. I actually didn't set a stop loss for this trade as I believe it will go to 108.4 much before it hits 111 Fundamental news has bears looking at the 107 area from the article i read on fx street from the us bond market being weaker, which is what this model is partly based on.
Short
by SuperQuantTrader
1
EURJPYAs I said last weeks...exactly as I said, EJ closed above 129700 and has already made 70 pips! Even if EJ will test the 130,600 area again, I will continue to bet on SELL because the 1-month candle closed under a very strong resistance from 130,100. THIS WEEK...EJ makes a dangerous range in this area! Even if I still bet on SELL because on the 1 month chart EJ is overbought and formed W but only up to area 128700-128200 where I think EJ will force the climb back to 132,600 which is the Fibonacci level 786! however ... a close even for 4 hours over 130,700 will force me to think of BUY at least 200 pips! Please, give a LIKE if you find this idea useful! GREAT ATTENTION: Our analyzes have an accuracy of over 91% but due to market manipulations during this period we will avoid putting exact values on SL! We also recommend avoiding short-term trades during this period because news can appear at any time that can destabilize the market. *This information is not a Financial Advice.
by BloomFX_SIGNALS
Fibonacci Extensions From ScratchHi traders! Evidently, every trader understands the importance of defining the trend with its support and resistance levels. Unfortunately, sometimes it’s kinda difficult or even impossible to do with basic tools. Nevertheless, traders have fixed the problem and evented some indictors that are able to solve this problem. One of them is Fibonacci extensions . Fibonacci extensions are a way to establish price targets or find projected areas of support or resistance when the price is moving into an area where other methods of finding support or resistance are not applicable or evident. As you can see, Fib Extensions is some kind of ratios.The ratios themselves are based on something called the Golden Ratio. How to build Fib Extension? During the up trend you should initialize the point of previous lower lower. Next point is the higher high and lower low again. The points should be consistent.
Education
by Skyrexio
2
LTC/BTC has me cautiously optimistic I'm observing LTC here as it has decisions to make. Either down, up or sideways. Speaking with fellow traders whom's opinions I respect and have more experience than I have. I've been warned that LTC seems to like to fake out. Thus I'm neutral on this and it definitely isn't a call . I'm not going to let the bullish signs of reversal I see put me in a long bias just yet. Rather I'll be using this as a learning experience and be following it's steps (hopefully gradually stepping up) . As the adage goes "Markets like to take the steps up and the window down". FA observations: 1. It's been in price discovery for a while looking for it's bottom ;) 2. It's bounced off the support line and may be forming a V bottom reversal and could possibly look to put in a HL from here 3. I'm seeing bulls stepping in and buying these lows I'm publishing this idea so that I may keep it in the back of my mind and maybe in yours? I do think when LTC starts moving it's going to be one for the books. And with that I would like to wish everyone a happy Easter and do spend this time with loved ones (especially parents, while you still can) # Obligatory Disclaimer My ethos at the onset is best described by the following acronym K.I.S.S (Keep it simple stupid) I use this mantra to ground myself, because nobody "outsmarts" the markets, even the legends only had a big brain understanding of them, you will always be the student. Make peace with that fact. Also I'll be sticking with simple charts that show my analysis of assets and won't be cluttering with the indicators I'm using, I'm not an educator. There are many other education channels here on TV and great senpai's curating them. If most of what I said above doesn't make sense, my advice is don't put your hard earned money in ( And most importantly none of this is financial advice, don't come crying and moaning at me if/when you lost your lunch money! ) And with that ladies and gents , always K.I.S.S before you get F'd
by JohntradesWicks
2