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At 5:49 AM Pacific Standard Time, GBPUSD, USDJPY, USDCAD and USDCHF would all appear to be headed in the "wrong" direction, possibly positioning themselves for trade opportunities if and when they reverse direction.
Right now the Forex pairs ARE available for trading. So, did Deriv.com start the Forex trading week at 5:00 AM Pacific Standard Time?
Right now the Forex pairs ARE available for trading. So, did Deriv.com start the Forex trading week at 5:00 AM Pacific Standard Time?
The Four Trades from Last Night, Monday | February 27, 2023:
Ultimately, I decided to sell EURUSD in place of buying USDJPY...
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Tuesday Night | February 28, 2023
Do you see any daily charts you like?
Yes I do, but only USDCAD and USDCHF. None of the other pairs on my watch list are moving in a particular direction with a convincing amount of conviction.
Both assets are presently looking at red daily candlesticks. Ideally, I would check them each hour in the hope that USDCAD would fall below 1.3597 and USDCHF below 0.9384...then buy them if and when they reverse direction to head north.
But in case I'm asleep if and when that occurs, I'm going to buy each of them right now for a buck with expiry set at the end of the 24-hour market cycle 1095 minutes from now to give them the maximum amount of time to switch their daily candlesticks from red to green, and then wait until then to see what happens.
If the forecast models are to be believed, more often that not, price ultimately ends up being swept away by the powerful currents of the 13-hour price flow. Given that EURGBP is presently situated above a bearish 13-hour baseline, the odds are statistically in favor of the rate dropping lower by the end of the 24-hour market cycle. So here again, I'm going to sell the the pair for a buck just to see what happens.
The same logic recommends buying GBPUSD, GBPJPY and EURUSD.
Do you see any daily charts you like?
Yes I do, but only USDCAD and USDCHF. None of the other pairs on my watch list are moving in a particular direction with a convincing amount of conviction.
Both assets are presently looking at red daily candlesticks. Ideally, I would check them each hour in the hope that USDCAD would fall below 1.3597 and USDCHF below 0.9384...then buy them if and when they reverse direction to head north.
But in case I'm asleep if and when that occurs, I'm going to buy each of them right now for a buck with expiry set at the end of the 24-hour market cycle 1095 minutes from now to give them the maximum amount of time to switch their daily candlesticks from red to green, and then wait until then to see what happens.
If the forecast models are to be believed, more often that not, price ultimately ends up being swept away by the powerful currents of the 13-hour price flow. Given that EURGBP is presently situated above a bearish 13-hour baseline, the odds are statistically in favor of the rate dropping lower by the end of the 24-hour market cycle. So here again, I'm going to sell the the pair for a buck just to see what happens.
The same logic recommends buying GBPUSD, GBPJPY and EURUSD.
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Wednesday Morning | March 1, 2023 | 1:30 AM PST
USDJPY is near the support zone I calculate to be between 134.90 up to 135.45, where I would definitely be looking for the rate to turn north given that the four-day price flow is bullish.
I bought AUDJPY for a buck @ 91.84 with a twelve-hour expiry given that it has made contact with the 13-hour baseline, which turned bullish two days ago. I sold it with a 90-minute expiry given that the hourly trend is currently bearish.
EURJPY rose continually every hour since I sold it five hours ago. So, I sold it again with respect to the end of the 24-hour market cycle, but also bought it in the short run (90 minutes). I did the same sort of thing with GBPJPY.
I bought USDCAD a second time, but NOT USDCHF since its 13-hour baseline has unfortunately switched from bullish to bearish. And now that I think about it, I should probably go ahead and sell USDCHF in the short run.
(I'm hoping that @ 1.0642, EURUSD will be hard pressed NOT to be in-the-money at expiry.)
USDJPY is near the support zone I calculate to be between 134.90 up to 135.45, where I would definitely be looking for the rate to turn north given that the four-day price flow is bullish.
I bought AUDJPY for a buck @ 91.84 with a twelve-hour expiry given that it has made contact with the 13-hour baseline, which turned bullish two days ago. I sold it with a 90-minute expiry given that the hourly trend is currently bearish.
EURJPY rose continually every hour since I sold it five hours ago. So, I sold it again with respect to the end of the 24-hour market cycle, but also bought it in the short run (90 minutes). I did the same sort of thing with GBPJPY.
I bought USDCAD a second time, but NOT USDCHF since its 13-hour baseline has unfortunately switched from bullish to bearish. And now that I think about it, I should probably go ahead and sell USDCHF in the short run.
(I'm hoping that @ 1.0642, EURUSD will be hard pressed NOT to be in-the-money at expiry.)
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4:00 AM Pacific Standard Time
All four trades made based on the "short-term" trends were successful. So at this point, I'm considering staying awake and making additional trades along these same lines, but upping the stakes and using more strategic entry points.
IF the pairs that are headed south are going to continue to do so, selling them when the current hour's candle is green, with expiry set for the end of the hour, "should" lead to profitable trades; and vice versa. So, this will be my strategy during these morning hours.
However, at this time, I'm keeping all of the stakes at just a buck given that nearly all of the pairs are now at a support or resistance level of one kind of another, making them all prime candidates for an intraday reversal over the next couple of hours.
UPDATE:
At 4:50 AM, AUDUSD, EURUSD and USDCHF have "corrected" the color of this hour's candlestick. Unfortunately, AUDJPY. EURJPY, EURGBP, GBPJPY and GBPUSD have not. (USDJPY remains to be seen.)
Therefore, IF it turns out that any members of the second group actually ARE reversing their intraday trajectories, I will at THAT point (upon confirmation) up the ante significantly.
EVENTS TO HAVE ON MY RADAR:
All four trades made based on the "short-term" trends were successful. So at this point, I'm considering staying awake and making additional trades along these same lines, but upping the stakes and using more strategic entry points.
IF the pairs that are headed south are going to continue to do so, selling them when the current hour's candle is green, with expiry set for the end of the hour, "should" lead to profitable trades; and vice versa. So, this will be my strategy during these morning hours.
However, at this time, I'm keeping all of the stakes at just a buck given that nearly all of the pairs are now at a support or resistance level of one kind of another, making them all prime candidates for an intraday reversal over the next couple of hours.
UPDATE:
At 4:50 AM, AUDUSD, EURUSD and USDCHF have "corrected" the color of this hour's candlestick. Unfortunately, AUDJPY. EURJPY, EURGBP, GBPJPY and GBPUSD have not. (USDJPY remains to be seen.)
Therefore, IF it turns out that any members of the second group actually ARE reversing their intraday trajectories, I will at THAT point (upon confirmation) up the ante significantly.
EVENTS TO HAVE ON MY RADAR:
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You were [I was] using the "DTrader" version of the Deriv trading platform which, powerful or not, you found to be juvenile and clunky.
What you need to be using instead is the "SmartTrader" version. It reflects the previous platform, back when they were still Binary.com (and before that, BetOnMarkets.com). Not only is it more efficient and user-friendly, but it also avoids the danger of causing you to think you have placed a trade which actually never went through, because it opens a pop-up contract confirmation box as soon as the transaction is executed.
In looking over the various charts constituting the complete set of forecast models I've ultimately come to rely on, I think this one is best suited for addressing nonsensical price action...
As, I've written before, rather than think of trends as [only] being represented by lines, I've come to conceptualize them more as "belts" representing expanses within the corresponding domain that constitute the potential breadth of values price might take within a given time interval.
So then, I consider the most helpful oscillating channels at the intraday level to be the two hour and forty minute envelope, the 25-minute envelope, and the eight-minute envelope; along with the one-hour and forty minute baseline.
At present, this means I am waiting for the proper structure to buy USDJPY, and to sell AUDUSD, EURUSD and GBPUSD.
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