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MT4 Trading Signals

MetaTrader 4 provides the built-in social trading service - Trading Signals. Using this service, you can copy deals of other traders directly in your terminal. All you need to do is to choose a Signals Provider and subscribe to his or her signals. After that, all deals will be automatically copied on your trading account.

Any MetaTrader 4 user can take advantage of trading signals. Select a signal from the list, evaluate its trading parameters and subscribe to it if you are satisfied. By the way, many Providers offer their signals for free. If you are interested in a paid signal, you can also subscribe to it easily.

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TradersWay Live Forex Strategy Session
Recorded Live: 2017 23 05

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TradersWay Live Forex Strategy Session
Recorded Live: 2017 05 22

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TradersWay Live Forex Strategy Session
Recorded Live: 2017 05 19

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GBPAUD Descending Triangle (May 23, 2017)

GBPAUD has formed lower highs and found support at the 1.7375 area, creating a descending triangle formation on its 1-hour time frame. This chart pattern is around 250 pips tall so a breakout in either direction could result in a rally or selloff of the same height. 

Price is currently testing support and could be due for a downside break as the 100 SMA is below the longer-term 200 SMA. However, the gap between the moving averages has narrowed to indicate a potential upside crossover that might draw more buyers to the mix. In addition, stochastic is pulling up from the oversold zone to reflect a return in bullish momentum.

The British pound is currently being weighed down by reports of an explosion in Manchester Arena in the UK, leading to 19 fatalities and at least 50 injured. To top it off, political risk is back in the spotlight as the UK could walk out of Brexit talks if the EU slaps them with a bill. Negotiations and the snap election are set to happen next month.

Meanwhile, concerns about the Chinese and Australian economies are starting to fade as the focus appears to be shifting back to geopolitical risks. There have also been no major reports out of Australia and China so far this week. Either way, changes in market sentiment could also be a driving factor for this pair moving forward.

By Kate Curtis from Trader's Way

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EURJPY Broken Trend Line Retest (May 22, 2017)

EURJPY recently broke below its short-term ascending trend line to indicate that a reversal from the uptrend is in order. Price dipped to the 122.50 minor psychological support then pulled back up to the broken support, which might now keep gains in check.

Applying the Fib tool on the latest swing high and low shows that the 61.8% retracement level lines up with the broken support zone. However, the 100 SMA is still above the longer-term 200 SMA on the 1-hour chart so there may still be room for some gains.

Stochastic is already turning down from the overbought area to suggest that selling momentum is about to kick in. If so, EURJPY could make its way back down to the swing low or create new ones.

Over the weekend, the focus was back on Brexit issues as the UK said that it is not willing to pay the bill that the EU is charging. This led to speculations that talks or even the Brexit itself might get delayed, lending some support for the shared currency. There's not much in the way of top-tier data from the euro zone today so traders might turn their attention to the speech by UK PM May.

As for the yen, Japan's trade balance came in weaker than expected at 0.10 trillion JPY versus the consensus at 0.25 trillion JPY. To top it off, the earlier reading was downgraded to show a smaller surplus of 0.11 trillion JPY. Still, market sentiment and US bond yields could drive yen pairs around.

By Kate Curtis from Trader's Way

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MT4 on Mac OS

MetaTrader 4 was designed for Windows OS. To run MT4 on Mac OS you can use various applications. MetaQuotes, the MetaTrader 4 vendor, recommends WineBottler's free software - Wine. You can Download it from the WineBottler website.

Download the installation dmg-package of WineBottler to the computer running Mac OS and start it. In order to start installation, drag&drop the Wine icon on the Applications icon. As soon as you do it, the installation will start. Wait until it is complete.

Once the installation is complete, it will already be possible to run Microsoft Windows executable files in Mac OS system.

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GBPUSD Short-Term Channel (May 19, 2017)

GBPUSD enjoyed additional volatility recently but is still trading safely inside its ascending channel on the 1-hour time frame. Price just bounce off support and could be due for another test of resistance.

The 100 SMA is also above the longer-term 200 SMA so the path of least resistance is to the upside. In addition, this short-term moving average lines up with the channel support, adding to its strength as a floor. However, stochastic is turning back down to suggest that another dip is possible.

Economic data from the UK has been stronger than expected this week. Headline and core CPI both beat expectations but traders had been wary of the consumer sector feeling the pinch from higher prices of goods. Jobs data still reflected upside momentum in hiring while the average earnings index and the latest retail sales figure reflected resilience among consumers.

However, the dollar made a pretty strong comeback in the latter sessions as the investigations on Trump's alleged intelligence information leak to Russia went on. Other government officials attempted to reassure that progress is still being made in terms of fiscal policy reform, leading to a bounce in US equities as well.

In terms of data, US initial jobless claims and the Philly Fed manufacturing index beat expectations. Only the CBI industrial orders expectations index is due from the UK today and there are no reports due from the US.

By Kate Curtis from Trader's Way

Trader’s Way - VPS Hosting Service

Trader’s Way offers its customers a high-quality VPS hosting service with a limitless 24/7 connection.

Access to our remote server ensures that your robots, Expert Advisors (EAs) and scripts function continuously and without interruption, even if your computer is switched off. Our remote server is located in close proximity to Traders Way’s main server, guaranteeing maximum uptime for your trading, no matter the quality of your local connection.

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