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Determining Market Condition

This is a discussion on Determining Market Condition within the Trading Systems forums, part of the Trading Forum category; EUR/USD The price for the pair is on primary bearish market condition for the secondary ranging within the following key ...

      
   
  1. #21
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    EUR/USD: bearish ranging within key levels

    EUR/USD

    The price for the pair is on primary bearish market condition for the secondary ranging within the following key support/resistance levels:

    • 1.1029 resistance level located near Ichimoku cloud and 'reversal' Sinkou Span line on the border between the primary bearish and the primary bullish on the chart, and
    • 1.0673 support level located far below Ichimoku cloud in the bearish area of the chart.

    Chinkou Span line is below the price indicating the ranging condition to be continuing by direction.

    Determining Market Condition-eurusd-d1-alpari-limited.png


    If the price will break 1.1029 resistance level so we may see the local uptrend as the secondary market rally within the primary bearish market condition.
    If the price will break 1.0673
    support level so the primary bearish condition will be continuing.
    If not so
    the price will be ranging within the levels.

    • Recommendation for long: watch close price to break 1.1029 for possible buy trade
    • Recommendation to go short: watch close price to break 1.0673 support level for possible sell trade
    • Trading Summary: bearish ranging


    Resistance Support
    1.1029 1.0704
    1.1494 1.0673
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  2. #22
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    Just some templates (with indicators) for the technical analysis (premium section link):

    Indicators and templates to evaluate the market condition thread is this one.
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  3. #23
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    This may be different setup but it is similat for what we are talking about - support/resistance breakout signal with volume:

    Determining Market Condition-audusd-d1-alpari-limited.png


    Determining Market Condition-eurusd-d1-alpari-limited.png


    Determining Market Condition-eurusd-h4-alpari-limited.png


    AllVolumeAverage_v2 600+ indicator is on this post, and the other indicators are attached (together with template).
    Attached Files Attached Files
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  4. #24
    Administrator newdigital's Avatar
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    New indicator for premium section:

    Determining Market Condition-sqdynamicbreakoutbox-600-.png


    Dynamic Breakout Boxes indicator
    - sqDynamicBreakoutBox 600+ indicator is on this post (premium section link). This is improved indicator with SignalNotification parameter added and with SignalAlert and SignalMail options. This version works with Metatrader 4 build 600 and above.
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  5. #25
    Administrator newdigital's Avatar
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    All the developing patterns for EUR/USD starting from M1 timeframe till D1 included are showing the downtrend. Example:

    Retracement for H1:

    Determining Market Condition-eurusd-h1-metaquotes-software-corp.png


    Retracement H4:

    Determining Market Condition-eurusd-h4-metaquotes-software-corp-2.png


    Retracement D1:

    Determining Market Condition-eurusd-d1-metaquotes-software-corp-3.png


    3-Drives for H2 timeframe:

    Determining Market Condition-eurusd-h2-metaquotes-software-corp-2.png
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  6. #26
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    But if we are talking about weekly chart (W1) and monthly chart (MN1) so this is forecasting as the uptrend based on developing patterns. Example:

    W1 retracement:

    Determining Market Condition-eurusd-w1-metaquotes-software-corp.png


    Monthly Butterfly:

    Determining Market Condition-eurusd-mn1-metaquotes-software-corp.png


    and so on.
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  7. #27
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    So, we can expect the downtrend/bearish in short and medium term situation for November fotr example, but it is uptrend in the long-term scale.
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  8. #28
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    How to filter ranging market

    Hi Igor / ND,
    What is the best way to filter market ranging in M5?

    For M15, M30 and H1 the damiani_volatmeterbv3.2 indicator works well.
    But for M1 and M5 it is difficult to filter this type of market with much volatility.

    Thank you,
    Rogério
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  9. #29
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    Quote Originally Posted by rogeriob28 View Post
    Hi Igor / ND,
    What is the best way to filter market ranging in M5?

    For M15, M30 and H1 the damiani_volatmeterbv3.2 indicator works well.
    But for M1 and M5 it is difficult to filter this type of market with much volatility.

    Thank you,
    Rogério
    Hi Rogerio,

    I can try to help with an opinion but first, I'm trying to better understand your question. Can you please post a screenshot and give a more clear example of what you're trying to figure out?

    madopter

  10. #30
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    There are very simple way to determin the market condition: using two SMA indicators with the period 100 and the period 200.
    200 SMA is dividing the chart onto bearish and the bullish area, and 100 SMA is related to the secondary trend such as correction (local downtrend within the bullish), rally (local uptrend within the bearish), and the ranging.

    Example with AUD/USD H4 timeframe: the price is located within 100 SMA/200 SMA ranging area but below 200 SMA. It means: the secondary ranging condition within the primary bullish trend.

    Determining Market Condition-audusd-h4-alpari-international-limited.png
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