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Agarwal

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Agarwal last won the day on July 4 2023

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  1. Hey fellow traders! Are you ready to take your trading game to the next level? Look no further! Today, I'm here to share my insights on how to trade smart with bots and maximize your profits. Trading bots have revolutionized the way we trade, providing us with powerful tools to navigate the unpredictable world of financial markets. To begin, it's essential to choose a reliable trading bot that aligns with your trading goals and risk tolerance. Conduct thorough research, read reviews, and select a bot that has a proven track record. Once you have the right bot in hand, it's time to dive into the strategies that will enhance your trading experience. First and foremost, it's crucial to set clear and realistic goals. Define your desired profit targets, risk tolerance, and timeframes. Remember, patience is key! Trading with bots requires discipline and a long-term mindset. By staying focused on your goals, you'll be better equipped to make informed decisions and ride out any market fluctuations. Next, leverage the power of backtesting. This feature allows you to simulate your bot's performance using historical data. By analyzing past trends and patterns, you can refine your strategies and optimize your bot's settings for maximum effectiveness. Treat backtesting as your training ground, where you can experiment with different indicators and parameters to fine-tune your bot's trading logic. Another essential aspect of successful bot trading is diversification. Never put all your eggs in one basket! Spread your investments across various assets, markets, and trading pairs. Diversification helps mitigate risks and increases the likelihood of capturing profitable opportunities. Keep a close eye on market trends, news, and events that may impact your chosen assets. Stay informed, and adjust your bot's strategy accordingly. Lastly, remember that trading bots are not "set it and forget it" solutions. While they can automate your trading process, it's essential to regularly monitor their performance. Regularly check your bot's trading activity, review its performance reports, and make necessary adjustments when required. Stay vigilant and remain adaptable to changing market conditions. Trading smart with bots is a game-changer in the financial world. With the right bot, clear goals, thorough backtesting, diversification, and ongoing monitoring, you'll be well on your way to unlocking trading success. Embrace the power of automation while staying actively involved in your trading journey. Now, go out there, trade smart, and may the profits be ever in your favor! Happy trading.
  2. Hey fellow traders, I wanted to share some insights on AUDUSD for tomorrow's trading session. Currently, I'm closely monitoring this currency pair for a potential selling opportunity around the 0.66800 zone. The reason behind this is that AUDUSD has been trading in a clear downtrend, and it seems to be in a correction phase, approaching a significant resistance area at 0.66800. As we analyze the market, it's important to consider upcoming events as well. This week, we have the RBA rate decision, which could greatly impact the direction of AUDUSD. If the decision turns out to be dovish enough, it would serve as a decent confirmation for the selling opportunity. Remember to prioritize safety in your trades and exercise caution. Good luck out there! Happy trading.
  3. Hey everyone! I wanted to share some insights about the Exponential Moving Average (EMA) and how it can be effectively used in trading. The EMA is a type of moving average that provides valuable signals and helps identify price trends. Let's dive into it! Firstly, what is the EMA? The EMA is a weighted exponential formula-based moving average that is more responsive to recent price changes compared to a simple moving average (SMA). It smooths the price line and provides a clear indication of the price trend. The EMA offers valuable signals to traders. It acts as a dynamic resistance and moves in the direction of the price. When the price increases, the EMA follows suit, and when the price decreases, the EMA remains above the price line. This aspect helps traders identify entry points accurately. Now, which EMA should we use? It depends on the trading strategy and time frame. Here are some commonly used EMAs: EMA 9 or EMA 10: These EMAs are ideal for short-term transactions as they represent a two-week period of trading. EMA 34/EMA 89: These EMAs align with the primary waves according to the Elliott wave theory. EMA 20, EMA 50, EMA 200: These EMAs are closely associated with trading sessions. EMA 50 represents the medium term, equivalent to the four seasons in a year, with each season having around 50 trading sessions. EMA 20 represents the month. EMA 250 (in addition to EMA 200): Some traders believe that 250 represents the number of trading days in a year. EMA 100: EMA 100 is commonly chosen due to its round number value. Round numbers often act as psychological barriers in trading. Comparing the trendline with EMA can provide further insights. While the trendline acts as a fixed resistance, the EMA is a dynamic resistance that closely follows the price line. It is calculated based on the price itself, making it more accurate in indicating the trend. Here are a few important notes to keep in mind when using the EMA: When the price surpasses or falls below the EMA and then retreats, it indicates a strong uptrend or downtrend. If the price moves too far from the EMA, it's advisable to wait for a correction and its return to the EMA before considering trading actions. Fast EMAs are more sensitive to price movements but are prone to breakdowns. They allow for early trend identification but experience more frequent short-term fluctuations. EMAs act as dynamic resistance levels that consistently track the price line. The EMA is not primarily used for pinpointing exact tops or bottoms but helps align trades with the prevailing trend. The EMA has a slight delay, making the SMA more useful in sideways markets, while the EMA is more effective in clearly trending markets. Remember, the EMA is a powerful tool, but it's always essential to combine it with other indicators and perform thorough analysis before making any trading decisions. Happy trading and may the trends be in your favor!
  4. Hey fellow traders, I wanted to share some exciting news regarding AUD/JPY. The currency pair has recently completed a bearish Bat formation at 97.18, indicating a critical level for potential market movement. What's even more impressive is that AUD/JPY has been enjoying a strong upward momentum, reaching its highest level in 196 days. Currently, we're witnessing nine consecutive positive days in a row, which aligns with the technical analysis rule known as the 'rule of 9.' According to this rule, after a series of nine positive or negative candles, we often see a correction in the opposite direction. So, it's important to keep an eye out for potential shifts in the market. On the weekly chart, this level also coincides with the potential completion of the BC leg in a large Gartley formation. Although this setup carries a higher level of risk, it also presents excellent opportunities for long-term traders who are seeking substantial rewards. However, it's crucial to remain cautious and monitor the situation closely. If AUD/JPY surpasses 98.60, the pattern will be invalidated. Additionally, the completion level for the Gartley formation lies at 82.24, which could act as a significant target if the pattern plays out as expected. For those interested in taking advantage of this setup, there is a bespoke support level at 93.94, where we anticipate buyers to step in. This level serves as an additional factor to consider when making trading decisions. Remember, trading always involves risks, so ensure you have a well-defined strategy and manage your risk effectively. Keep a close watch on the market developments and make informed decisions based on your trading plan. Good luck and happy trading!
  5. Hey fellow traders, I wanted to share my analysis on EURAUD with you all. It seems like bears are getting ready to make their move and break the support level at 1.59000. Here's why I believe this breakout is likely to happen. When we look at the high timeframe, we can see that the support level has been tested multiple times, indicating that buyers have been holding the line. However, the overall trend in the market is bearish, suggesting that the support might not hold for much longer. On the low timeframe, we observe that the price is moving within a downtrending price channel. Additionally, a triangle pattern is forming, and the triangle support is at risk of breaking. The price is also approaching the critical level of 1.59152, and it appears poised to break it in the near future. If this happens, we can expect the currency pair to decline further towards 1.58496. To summarize: Key support: 1.59150 Key resistance: 1.59462 Keep a close eye on EURAUD, as the breakout could happen soon. Remember to do your own analysis and use proper risk management before making any trading decisions. Good luck and happy trading!
  6. Successful traders follow a set of habits that drive them towards consistent profits. In this article, we will explore a collection of powerful trading habits that can revolutionize your market approach. By incorporating these habits into your routine, you can enhance your performance and increase your chances of success. Remember, becoming an elite trader requires dedication, continuous improvement, and adaptability. Embrace these habits to unlock your full potential in the markets. Embrace Lifelong Learning: To stay ahead in the vast and ever-changing financial markets, commit to continuous learning. Dedicate yourself to exploring new trading strategies, market analysis, and expanding your knowledge base. Remember, the more you learn, the more you earn. Cultivate Emotional Resilience: Trading often brings emotional challenges, but elite traders keep their emotions in check. Develop the mental fortitude to remain calm and composed, even during times of market volatility. By controlling your emotions, you can make rational decisions and avoid impulsive trading mistakes. Commit to Deliberate Practice: Trading is a skill that requires constant practice. Set aside regular time to study charts, analyze price movements, and simulate trades. Through practice, you will gain proficiency, allowing you to identify profitable opportunities effectively. Document and Analyze: Maintain a comprehensive trading journal to track your trades, including wins and losses. Regularly review your journal to identify patterns, strengths, and weaknesses. This self-analysis will help you refine your strategy, minimize mistakes, and maximize your profits. Embrace Probabilistic Thinking: Recognize that markets are inherently uncertain. Instead of chasing certainties, focus on analyzing probabilities. This mindset enables you to adapt quickly to changing market conditions and make informed trading decisions based on risk-reward assessments. Foster Adaptability and Flexibility: The market is constantly evolving, and traders must evolve with it. Continuously adapt your strategies, techniques, and risk management approaches to stay ahead. Flexibility allows you to seize opportunities and adjust to new market dynamics effectively. Optimize Trade Selection: Elite traders are selective in their trade choices. They concentrate on markets and instruments that align with their expertise and trading style. A strategic approach to trade selection minimizes distractions and enhances your ability to capitalize on high-probability setups. Maintain Realistic Expectations: Approach trading with a realistic mindset. While substantial profits are attainable, they require patience, discipline, and consistent execution. Avoid get-rich-quick schemes and instead focus on steadily building your wealth over time. Incorporate these powerful habits into your trading routine to significantly enhance your performance and increase your chances of success. Remember, becoming an elite trader is a journey that requires dedication, continuous improvement, and a willingness to adapt. Embrace these habits and unlock your full potential in the markets.
  7. Hey fellow traders! I wanted to share an exciting trading opportunity that has caught my attention: AUD_USD. As I analyzed the charts, I noticed that the pair is approaching a strong resistance level at 0.6800, signaling a potential bearish pullback on the horizon. Over the past few days, AUD_USD has been trading in a local uptrend, which increases the likelihood of a corrective move downwards. By going short, we can target a local support level around 0.6720. Remember to hit the like button and leave a comment if you find this idea helpful or if you have any other insights to share. Let's support each other and never miss out on new trading ideas! Wishing you all profitable trades!
  8. Greetings fellow traders, I am thrilled to share an exciting intraday trading idea for EURAUD that could potentially boost your profits. At Gold Signals by Professor, we have conducted a thorough technical analysis and confidently recommend a Buy position for traders like you. Our analysis indicates a significant development: EURAUD has managed to sustain itself above the crucial level of 1.60927. This breakthrough suggests a positive momentum, with potential targets at 1.61500 and 1.61800. To mitigate risks, we advise setting a stop loss around 1.60375. In order to maximize your trading success, it is vital to stay well-informed about the latest news and events that may impact the FX market. Factors such as global economic conditions, geopolitical tensions, and central bank policies can influence the price movements of EURAUD. Please note that the momentum of the trade can be influenced by unforeseen events or news. Therefore, we will be updating this level regularly in our channel to ensure you have access to the most recent trends and analysis of Gold and its trading potential. Wishing you all a prosperous day filled with successful trades!
  9. Hello traders, today we will discuss the reasons behind traders losing money and the biases that contribute to these losses. One such bias is availability bias, where traders give excessive weight to their most recent trades, allowing recent results to impact their decision-making. This can lead to fear or overconfidence, resulting in poor trading choices. Another bias is the dilution effect, where traders use too many tools and trading concepts, diluting the importance of key decision drivers. It is important to avoid redundant signals and focus on combining the right tools effectively. The gambler's fallacy is another bias that misleads traders into believing that probabilities even out in the short term. They may think that after a series of losing trades, a winning trade becomes more likely. However, probabilities do not change based on past results, and each trade has an independent chance of success. Anchoring bias occurs when traders overestimate the importance of their entry price and lose objectivity regarding the overall market picture. It is crucial to have a well-defined plan before entering a trade to maintain objectivity. Traders often show insensitivity to sample size, making assumptions about the accuracy of their system based on only a few trades. It is advisable to accumulate a sufficient sample size of 30-50 trades before making any conclusions or adjustments to trading strategies. The contagion heuristic bias causes traders to avoid specific markets or instruments after experiencing significant losses, even if the losses were their own fault. It is essential to evaluate each trade objectively, considering the potential of the instrument without being influenced by past losses. Hindsight bias is another common bias where traders analyze their trades retrospectively, seeking explanations for failures that may not have been evident at the time. It is important to avoid changing indicators or settings after a loss and accept that losses are a normal part of trading. The hot-hand fallacy bias leads traders to believe that they can predict future market movements after experiencing a winning streak. This can result in overconfidence and poor decision-making. Staying objective and following a well-defined strategy is crucial. Traders may also fall into the trap of the peak-end rule, focusing only on the peak of a trade's profitability without considering subsequent losses. It is important to have a predetermined plan for trade management and exit strategies. Other biases include the simulation heuristic, social proof, framing, sunk cost fallacy, confirmation bias, overconfidence, and selective perception. Traders need to analyze their results objectively, maintain a trading journal for accountability, and take responsibility for their actions and outcomes. Identifying the bias that causes the most trouble for you is crucial. Work on recognizing and overcoming your struggles. Never stop learning and keep improving your trading skills. Feel free to share your charts and views in the comment section. Thank you.
  10. Hey fellow traders! I wanted to share my excitement about the recent upward momentum in the AUD/USD pair and discuss our potential strategy moving forward. Despite some challenges faced by the pair, such as difficulties in maintaining its rally above 0.6680, there are promising factors to consider. Firstly, the unexpected interest rate hike by the Reserve Bank of Australia (RBA) has triggered this impressive rally. Governor Philip Lowe's decision to raise the Official Cash Rate (OCR) by 25 basis points to 4.10% demonstrates the RBA's confidence in the Australian economy, despite lower-than-desired inflation levels. Moreover, the narrowing policy divergence between the RBA and the Federal Reserve (Fed) has provided further support. While uncertainties surrounding the June monetary policy meeting by the Fed have influenced market sentiment, the AUD/USD pair remains resilient. Another interesting development is the AUD/USD's sharp recovery, defying the breakdown from its consolidation range of 0.6563-0.6808 on a daily basis. Surprisingly, the Australian dollar has experienced minimal selling pressure, contributing to this notable rebound. As we navigate these exciting market dynamics, I believe a trend-following strategy could be advantageous in capitalizing on the upward movement. Let's stay vigilant and capitalize on the opportunities presented by this bullish momentum. Happy trading, everyone!
  11. Greetings fellow traders! Today, I wanted to delve into a crucial topic in the world of forex trading: the key differences between fundamental analysis and technical analysis, and how traders employ these approaches to make informed trading decisions. Fundamental analysis focuses on evaluating the intrinsic value of a currency by analyzing economic, political, and social factors. Traders employing this approach examine macroeconomic indicators, such as interest rates, GDP growth, inflation, employment data, and geopolitical events. By assessing the fundamental factors driving supply and demand, traders aim to determine the fair value of a currency and identify potential trading opportunities. On the other hand, technical analysis primarily revolves around studying historical price patterns, chart formations, and statistical indicators. Traders employing this method analyze past price movements and patterns to forecast future price behavior. They utilize tools like moving averages, support and resistance levels, trend lines, and oscillators to identify trends, reversals, and entry/exit points. While fundamental analysis emphasizes the "why" behind price movements, technical analysis focuses more on the "what" and "when." Traders employing fundamental analysis seek to understand the underlying factors driving currency value, while technical analysts focus on interpreting price patterns and indicators to predict future market movements. Traders utilize these approaches in various ways to make informed trading decisions. Fundamental analysis helps traders identify long-term trends and assess the overall health of an economy. By examining economic indicators, monetary policies, and geopolitical events, traders can anticipate major market shifts and adjust their positions accordingly. Technical analysis, on the other hand, aids traders in identifying short-term opportunities. By analyzing historical price data and utilizing technical indicators, traders can spot entry and exit points, determine stop-loss and take-profit levels, and manage risk effectively. In practice, many traders combine both fundamental and technical analysis to form a comprehensive trading strategy. They use fundamental analysis to identify long-term trends and establish a general bias, while technical analysis helps with precise entry and exit timing. It's important to note that no single approach guarantees success in forex trading. Each approach has its strengths and limitations, and traders should choose the one that aligns with their trading style and preferences. I'm eager to hear your experiences and insights on utilizing fundamental and technical analysis. Let's discuss and enrich our understanding of these powerful trading tools!
  12. Greetings, fellow Forex enthusiasts! Today, I want to delve into the captivating world of economic data and its profound impact on currency exchange rates. As forex traders, we find ourselves in an exhilarating realm where numbers and statistics intertwine with market dynamics. Economic data, such as GDP growth, inflation rates, and employment figures, form an essential foundation for making informed trading decisions. Let's first acknowledge the significance of GDP growth. A country's economic performance, as reflected in its GDP, holds tremendous sway over its currency's strength. When a nation experiences robust GDP growth, it often signifies increased productivity, higher consumer spending, and enhanced investor confidence. Forex traders closely monitor GDP growth rates, as they can indicate a prosperous economy, leading to a potentially stronger currency value. Next, let's explore inflation rates. Inflation refers to the general increase in prices of goods and services over time. When inflation rises, a currency's purchasing power diminishes, causing its value to decline. Forex traders are keenly attuned to inflation figures, as they provide insights into the stability of a country's economy. Higher inflation rates may prompt central banks to implement tighter monetary policies, such as raising interest rates, to curb inflation. These actions can influence currency exchange rates and guide traders' strategies. Furthermore, employment figures hold a crucial place in the realm of forex trading. A country's employment situation reflects the health of its labor market and overall economic vitality. When employment figures indicate a robust job market with low unemployment rates, it often leads to increased consumer spending and economic growth. Forex traders keenly monitor employment data to gauge the strength and stability of a country's economy, as it can impact the value of its currency. In conclusion, economic data acts as a compass, guiding forex traders in their decision-making process. The intricate relationship between GDP growth, inflation rates, employment figures, and currency exchange rates is a testament to the interconnectedness of the global economy. By diligently analyzing and interpreting economic data, we can make more informed trading decisions and navigate the forex market with confidence. Remember, staying informed is key. Embrace the power of economic data and let it illuminate your path to success in the exciting world of forex trading! Happy trading, everyone!
  13. The inclusion of trading volume as a standard indicator in charting software for the past three decades is not without reason—it offers a vital advantage. Volume analysis grants traders valuable insights into the actions of market participants at different price levels. By focusing on volume, traders can react more effectively to price movements rather than attempting to predict the future direction of prices, as is often the case with many other technical indicators. 📍Key points about volume Here are the key points regarding the volume indicator commonly plotted on the X-axis in trading: 🔹Volume Indicator: The volume indicator calculates the total number of shares or contracts traded during a specified time period. It is usually displayed as a histogram or line chart, with time represented on the X-axis. 🔹Liquidity: Volume is a critical metric as it provides insights into the liquidity of a security. Higher volume generally indicates greater market participation and liquidity, making it easier to buy or sell the asset without significantly impacting its price. 🔹Confirmation: Volume can validate the authenticity of price movements. In an uptrend, increasing volume supports the bullish move, indicating strength and conviction among buyers. Conversely, declining volume during an uptrend may signal weakness or lack of interest. The same principles apply to downtrends. 🔹Breakouts and Reversals: Volume analysis is often employed to identify breakouts and potential trend reversals. A significant increase in volume during a breakout suggests a higher probability of a sustained move, while decreasing volume near a support or resistance level might indicate a potential reversal. 🔹Divergence: Volume can unveil discrepancies between price and market sentiment. For instance, if prices are rising while volume is decreasing, it could suggest that the rally is losing momentum and a reversal may be imminent. Similarly, increasing volume during a price decline might indicate selling pressure and the potential for further downside. 🔹Confirmation of Patterns: Volume can serve to confirm or invalidate chart patterns such as triangles, head and shoulders, or double tops/bottoms. Higher volume during pattern formations enhances their reliability, while low volume can cast doubt on the significance of the pattern. 🔹Watch for High Volume: Unusual spikes in volume can indicate significant market events, such as earnings releases, news announcements, or institutional buying/selling. Abnormal volume levels can lead to increased volatility and potentially present trading opportunities. 🔹Relative Volume: Comparing current volume to historical average volume helps assess the significance of current trading activity. Higher volume relative to the average may imply increased interest, while lower volume might suggest a lack of conviction or reduced market participation.
  14. Hey fellow traders! I wanted to share some exciting news with you all regarding the AUDUSD currency pair. Over the past few days, I've been closely monitoring its movements, and I'm thrilled to report a significant development. The price has finally broken below the immediate support level at 0.6564, indicating a successful breakout. Now, here's the exciting part. The price is currently retracing towards this former support level, which has now transformed into a resistance zone. If the price fails to break and close above this resistance level, there is a high potential for a bearish push, with a target towards the major support at 0.6177. This presents a fantastic opportunity for us traders to profit from the downward movement, potentially gaining a massive 400 pips. Keep a close eye on the price action and watch for any signs of rejection at the resistance zone. If the bears take control, it could be a rewarding trade! Remember, always exercise caution and implement appropriate risk management strategies. Good luck and happy trading!
  15. 🔸Hello traders, let's review the 4 hour chart for AUDUSD today. Recently price was locked inside distribution trading range and subsequently it broke down below key s/r level near 6600 and hit 6500. Following the normal distribution pattern. 🔸Short-term expecting throwback to re-test mid of the distribution range and then expecting new wave of short-selling once we trigger 6700. Bears still maintain strategic control. 🔸Recommended strategy for AUDUSD bears: wait for the short-term bounce to complete near 6700 and then re-enter on SELL SIDE. TP1 bears +200 pips TP2 bears final +400 pips at 6350. Keep in mind this is a swing trade setup so will take more time to complete. good luck! 🎁Please hit the like button and 🎁Leave a comment! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
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