Market Condition Evaluation based on standard indicators in Metatrader 5 - page 8
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This template is very difficult to determine decision we should buy or should sell
1.2. Secondary trend.
- Correction
Correction
to be more specific:
1.2. Secondary trend.
- Bear Market Rally
Bear Market Rally
to be more specific:
1.2. Secondary trend.
- Ranging
Ranging (buy and sell on the sametime)
to be more specific:
1. Trend following
1.1. Primary trend
- Uptrend (bullish)
- Downtrend (bearish)
1.2. Secondary trend.
- Correction
- Bear Market Rally
- Flat (non-trading)
- Ranging
2. Overbough/oversold ('top-and-bottom')
3. Breakout
And finally - flat (not buy and not sell)
To be more specific:
This is flat for USDCHF H4 for now(Absolute Strengh indicator): red (sell) line is below the signal line, and blue (buy) line is below blue signal line, and both the lines are falling
It was correction for EURUSD and for now - correction is finished and we may have flat or bearish (or breakout for example):
This is flat for USDCHF H4 for now(Absolute Strengh indicator): red (sell) line is below the signal line, and blue (buy) line is below blue signal line, and both the lines are falling
It was correction for EURUSD and for now - correction is finished and we may have flat or bearish (or breakout for example):
It was breakout for EURUSD and breakdown for USDCHF:
By the way, USDCHF is acting as a leading pair for USDCHF/EURUSD in many cases. I mean: this pair is started to move first and EURUSD is just following it with opposite direction (it was my experience).
And this is practical example about how to use market condition for trading: 53 pips in profit for now
This is update: