OctaFX Official

2021-10-19 08:24:36 TODAY’S HIGHLIGHTS

Building Permits, USA
API Weekly Crude Oil Stock, USA

This affects:
USD and its subsequent pairs
Oil prices

ECONOMIC CALENDAR Open / Comment

2021-10-18 17:54:53 TRADING IDEA
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Trading system - AUTOCHARTIST

#EURUSD

Target Level: 1.1619
Target Period: 16 hours
Interval: 30 Minutes

Channel Down identified at 18-Oct-13:30. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.1619 within the next 16 hours. Open / Comment

2021-10-18 17:03:52 #intraday_trading

Check out our intraday trading idea

#XAUUSD is possibly bullish

Most likely scenario - BUY
Target prices: 1,774.72 1,781.77

Alternative scenario - SELL
Target prices: 1,757.95 1,749.71

Key levels
Support 1,757.95 1,749.71
Resistance 1,774.72 1,781.77

Learn more Open / Comment

2021-10-18 15:04:01 #market_pulse

Crypto Daily Fundamental

Bitcoin is enjoying positive sentiment from traders at the start of the week due to the reports that Institutional investment giant Grayscale is considering converting its Bitcoin Trust into a physically settled exchange-traded fund. Bitcoin traders and the crypto market in general are also anxiously waiting for SEC's decision on ProShares ETF today.
On-chain data shows that the combined balances of Ethereum are now at their highest level since June 2016. Open / Comment

2021-10-18 08:45:00 #EURUSD #weekly_outlook

EUR/USD weekly outlook (4 hour chart)

Technical analysis:
The RSI(14) is neutral while the RSI(3) suggest possible upwards moving.
The triangle pattern might be the reason for further rise in price.

Fundamental:
The EURUSD recovered towards 1.16236 after U.S. CPI report showed high inflation rate.

What the possible outcomes are :
In the most likely scenario, we may see an upwards movement towards the resistance level of 1.15999.
If the pair breaks above this level, we can expect a continued surge towards the 1.16134 and 1.16236.
Contrarily, the pair may decline towards the support level of 1.15801.
If the pair drops below this support level, we can expect a continued downtrend towards the 1.15678 and 1.15521. Open / Comment

2021-10-18 08:30:00 #XAUUSD #weekly_outlook

Gold weekly outlook (4 hour chart)

Technical analysis:
The RSI(14) and the RSI(3) both under 50 line, indicating prevailing downtrend.
The price is near the 50 level of the Fibonacci fan, the breakdown of which below would indicate a further decline.
The price is under the EMA(24) and EMA(120) which is advantage for bears.

Fundamental:
Gold prices are under pressure as traders awaiting the Fed's tapering stimulus program next month.

What the possible outcomes are :
Despite the bearish sentiment, an upward correction to 1,773 and 1,777 is possible.
Any upward movement might be seen as correction and good opportunity for opening short positions.
Contrarily, a decrease in the price under crucial support level of 1,766 will lead the gold to the following levels of 1,760 and 1,750. Open / Comment

2021-10-18 08:00:16 #webinars_schedule

Hello! We want to announce the upcoming webinars to be held this week:

18/10, 7 PM WIB - BAHASA INDONESIA Q&A session with Vito Henjoto

18/10, 8 PM PKT - URDU Live trading session with Ashraf Noor

19/10, 9 PM IST - HINDI Live trading session with Manish Patel

19/10, 9 PM MYT - ENGLISH Live trading session with Kar Yong Ang

20/10, 7 PM WIB - BAHASA INDONESIA Live trading session with Vito Henjoto

20/10, 7 PM PKT - URDU Q&A session with Mateen Awan

20/10, 6 PM WAT - ENGLISH Webinar 'How to Use technical Analysis in Trading' with Tunmise Olaoluwa

21/10, 7 PM WIB - BAHASA INDONESIA Live trading session with Eko Bagus Setiawan

21/10, 9 PM IST - HINDI Live trading session with Manish Patel

22/10, 8 PM MYT - ENGLISH Webinar '10 Frequently Asked Questions about Trading' with Kar Yong Ang

22/10, 9 PM IST - HINDI Q&A session with Manish Patel Open / Comment

2021-10-18 07:00:36 TODAY’S HIGHLIGHTS

Gross Domestic Product, China
Industrial Production, USA

This affects:
CNY and its subsequent pairs
USD and its subsequent pairs

ECONOMIC CALENDAR Open / Comment

2021-10-15 16:15:00 #education

Today we're going to continue our weekly Friday educational tips. Let's talk about Price Action.

Price Action is a trading strategy based on price behaviour. This strategy helps traders enter the market based on their understanding of different candlestick patterns without forex indicators. The method is based on combining patterns with price levels and using them to set targets and sometimes Stop Loss orders.

Price Action is a method, not an automatic system. It means that everyone applies Price Action tactics in their way, developing their unique trading style. You can use this methodology with another strategy (based on indicators or anything else) and improve your trading results.

The main difference between Price Action and technical analysis patterns is that each subsequent candlestick in the Price Action model meets specific criteria. You should open an order immediately after the last candle in the pattern was formed. In technical analysis, you can set a pending order after basic pattern conditions execution without waiting for the pattern to be finished.

We'll show you the most common Price Action patterns in our next post. Stay tuned, and have a lovely weekend and a thriving trading week after! Open / Comment

2021-10-15 15:12:57 #intraday_trading

Check out our intraday trading idea

#XAUUSD is possibly bearish

Most likely scenario - SELL
Target prices: 1,773.66 1,769.41

Alternative scenario - BUY
Target prices: 1,781.39 1,787.42

Key levels
Support 1,773.66 1,769.41
Resistance 1,781.39 1,787.42

Learn more Open / Comment