LiteForex

How to create your own trading strategy

Hello, friends!

There is a huge number of different trading strategies on the Internet, but what is for some reason they do not suit you?

The solution is to design your own indicator trading system. First, I’d like to define what a trading system is in general.

Trading Strategy

In general, a trading strategy is a set of predefined rules used to make trading decisions in order to make a profit. At the same time, these rules can be grouped into two categories that are the elements of any trading method.



Rules to enter a trade, exit a trade, set...Read full author’s opinion and review in blog of #LiteForex http://amp.gs/qr94

Gold extends the range

Does it make sense to open XAU/USD positions according to the results of the Fed meeting?

Most of October, gold has been trading in the range of $1475-$1515 per ounce. Investors have been revising their views on the gold future outlook amid the progress in the US-China trade relations and a decline in the no-deal Brexit risk to the minimum. Donald Trump is ready to sign a deal with China ahead of schedule, and the UK parliament suppresses any attempts of Prime Minister Boris Johnson to trigger an early election. Trade and policy risks are shrinking, and investors feature less...Read full author’s opinion and review in blog of #LiteForex http://amp.gs/qrmB

Analysis for oil, gold and EUR/USD for 29.10.2019

USCrude – oil  

Oil buyers couldn’t consolidate the price for the second time above Target Zone [55.86 – 55.43]. This means that the middle-term downtrend continues. I suggest looking sell trades according to the pattern in the longer timeframe, The target will be the low of October and Target Zone 3 [50.01 — 49.57].



The short-term uptrend continues, but the double top pattern is now being traded so do not enter buy trades in haste. It is also clear from the short-term chart that traders are now breaking through Additional Zone [55.76 - 55.65]. If they consolidate the price below...Read full author’s opinion and review in blog of #LiteForex http://amp.gs/qOF9

Has dollar anything left in its tank?

Can USD withstand third Fed rate cut?

Boris Johnson failed to call an early general election, and the EUR/USD bulls could breathe freely. The prime minister needed 434 votes to trigger an early election, but he was supported only by 299 PMs. The Brexit story should finish well, without any shocks, which has a positive influence on the euro-area currencies. However, according to Rabobank, a Brexit deal alone is not enough to let the euro start rising. German economic recession, weak foreign demand and the dollar’s appeal as a safe haven asset allow the bank to forecast the EUR/USD drop to 1.07...Read full author’s opinion and review in blog of #LiteForex http://amp.gs/qOuy

Elliott wave forecast for Bitcoin, Ripple and Ethereum

Elliott wave forecast for BTCUSD, LTCUSD, ETHUSD, EOSUSD, XRPUSD

Elliott wave BTCUSD analysis

 



After the upward linking wave (X) completed, the market has started moving down in the new downtrend. There is likely to be forming a plain zigzag A-B-C. Impulse A has completed, and there is likely to be developing the correction B. After a short corrective wave [b] finishes, the price should start rising following impulse [c] towards a level of 11170. At this level the size of wave B will reach 76.4% Fibonacci ratio of impulse A.


Elliott wave XRPUSD analysis 



There continues forming the upward corrective wave 4 that...Read full author’s opinion and review in blog of #LiteForex http://amp.gs/qOr2

Weekly Elliott wave cryptocurrency forecast and analysis

Elliott wave forecast for BTCUSD, LTCUSD, ETHUSD, EOSUSD, XRPUSD

Elliott wave BTCUSD analysis



Over the past year and a half, there has been forming a global corrective down wave 4 that is developing as a double zigzag [W]-[X]-[Y]. There is currently developing the final part of this wave, wave [Y]. Let us study its structure in more detail in the H8 timeframe.



The sub-waves (W) and (X) should be completed in the downward zigzag [Y]. There is currently forming a descending zigzag (Y), with the impulse wave (A) completed within. After wave A finished, there has started an upward corrective wave B....Read full author’s opinion and review in blog of #LiteForex http://amp.gs/qUOd

Analysis for oil, gold and EUR/USD for 28.10.2019

USCrude – oil

Oil buyers are trying to consolidate the price above Target Zone [55.86 – 55.43]. The US session has already closed the price above the resistance once. The zone will be broken out when the second session closes the price above the zone. In this case, the middle-term trend will reverse upwards, and the buy target will be in Target Zone 2 [60.21 – 59.78].

Currently, it is still relevant to look for sell entries according to the pattern.



Oil short-term trend is upward. Last Friday, Target Zone [56.03 – 55.58] was broken out. So, the next buy...Read full author’s opinion and review in blog of #LiteForex http://amp.gs/qRb0