Market condition

The other interesting situation is for USDCHF and EURUSD. We can see it here

this is USDCHF:




and it is EURUSD:



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So, as we see - it was breakout for USDCHF but still not yet for EURUSD. This pair (EURUSD) was crossed Sinkou Span B line and it is inside Ichimoku cloud trying to cross the other border of the cloud 9Sinkou Span A). So, USDCHF is already on primary bullish, EURUSD is on bearish (Sinkou Span B line is the "border" between bullish and bearish) but inside the cloud. It means: EURUSD is on ranging market condition.

But as USDCHF is leading pair with EURUSD/USDCHF combination (EURUSD is a little bit lagging with fast movement compare with USDCHF) - we can expect good breakdown for EURUSD for the next week.

Just some good video about some terminology concerning market condition. This is very preliminary knowledge but I am recommending everybody to remind it (this is 3 minute video only).

Market conditions -- where will the price move? :

Technical Analysis Course - Module 1: Technical Analysis and the Dow Theory

This course is designed to educate you about everything you need to know about technical analysis to make you a successful trader in any market condition. This is the Module #1 ... more to follow ...

Technical Analysis Course - Module 2: Charting Basics

... typically use one of the following three chart types: Line charts, Bar charts and Candlestick charts. Charts are an invaluable tool for stock and spread betting traders. Indeed, I would say that any time that you as a trader spend studying price charts will be worthwhile. Charts are prices. Period. Don't care what's driving them. They are prices. And they move up or down which is why they are so relevant to us traders. Charts can be a very useful and influential aid to intelligent trading.

Technical Analysis Course - Module 3: Trend Concepts

What's the point of identifying trends? Well, first of all trends tend to keep going in one direction unless acted on by a major force. In this module, it will be shown the basics of:

• support and resistance, which are simple concepts with far-reaching outcomes;
• trend lines, sloping lines with similarly powerful applications;
• retracement expectations, and where we expect the price to halt its slide;
• other straight line guides

Technical Analysis Course - Module 4: Reversal and Continuation Patterns

This module is about reversal and continuation technical analysis patterns. This module shows the practical applications we've been learning about trend lines and support and resistance levels. But when the price is not so consistent, and perhaps the trend becomes sideways for a while, then the price can move in ways that create patterns that we can learn to recognize, and that suggest where and when it is going to go next.

Technical Analysis Course - Module 5: Volume and Open Interest

This module is about Volume and Open Interest. When we're trading we look at the price action but we also look at the volume of trading and the open interest which is something we come across in futures and options.

Technical Analysis Course - Module 6: Moving Averages

There are different types of moving average, and each type can be constructed as a whole set with different periods. Some types of moving average are better in certain tasks than others, and you are free to experiment and find the type and values which work best for your trading.

Technical Analysis Course - Module 7: Oscillators and Sentiment Indicators

The oscillator tends to go between limits, or oscillate, and these limits represent times when the market is stretched, often associated with the need to change. We talk about overbought and oversold conditions, and you can think of these as when the market has gone too far too fast and quite possibly needs to correct or consolidate.

Technical Analysis Course - Module 8: Further Charting

Another chart type which is covered in some depth is called point-and-figure charting, which is noticeably different from the charting techniques you have been introduced to so far, and will give you other ways to find your trades. These charts are older than bar charts in the Western world, with references dating back to the 19th century.