⚠️ GREAT NEWS, ZENITH JUST PASSED FTMO 10K CHALLENGE ⚠️
FTMO challenge link:
https://trader.ftmo.com/metrix?share=af20c4fbc659&lang=en
FTMO challenge link:
https://trader.ftmo.com/metrix?share=af20c4fbc659&lang=en
✍️ Read this MQL5 post with comprehensive details about the challenge passed by the Zenith EA✍️
https://www.mql5.com/en/blogs/post/756174
https://www.mql5.com/en/blogs/post/756174
Mql5
Passed 10K FTMO Challenge with my Zenith Zone EA
🤖💹 Introducing Zenith Zone Trading Robot: FTMO Challenge Conquered in Just 4 Days! Are you ready to witness the power of automation in trading? Meet my revolutionary trading robot that effortlessly
BacktestInputs_ZenithZone_LowRisk.set
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Dear Traders, for backtesting Zenith Bot please follow instructions and use this set file as inputs.
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Settings for backtest and news filter option. For more help dont hesitate to contact me.
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Backtest results of the EA for IC Markets broker, Jan 2023 till now.
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Market Brief Overview, 20 Feb;
Today our focus will be on CAD and important CPI MOM and YOY fundamental data. The overall YOY inflation expected to decrease slightly but the MOM inflation predicted to increase by 0.4%. Higher than expected decrease in CPI will significantly weaken CAD but higher inflation will put pressure on CAD and will make it interesting for buyers.
We will watch closely the market and have CAD in focus in our watch list for today.
CB leading index m/m: We suspect the index continued to fall in January and look for a 0.3% decrease. Lower value of CB leading index than expectations will weaken USD.
Today our focus will be on CAD and important CPI MOM and YOY fundamental data. The overall YOY inflation expected to decrease slightly but the MOM inflation predicted to increase by 0.4%. Higher than expected decrease in CPI will significantly weaken CAD but higher inflation will put pressure on CAD and will make it interesting for buyers.
We will watch closely the market and have CAD in focus in our watch list for today.
CB leading index m/m: We suspect the index continued to fall in January and look for a 0.3% decrease. Lower value of CB leading index than expectations will weaken USD.
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🔘 Key Technical Points for Gold on February 20, 2024:
🔸 Resistance: 2039, 2029, 2022
▪️ Support: 2018
🔹 Support: 2014, 2009, 2003
✍🏻 Gold has once again managed to reclaim the $2000 channel and has been on an upward trend for three consecutive days. Currently, gold is influenced by complex interactions of economic factors, geopolitical issues, monetary policies, and market sentiment changes, acting as a safe haven amidst political disturbances and concerns about oil supply. The most important daily support is at $2011, and as long as it stays above $2014, it can approach resistance levels. To test $2055, it needs to stabilize above $2038. Otherwise, it oscillates within a 200-pip range for now. Pay attention to movements in the dollar index regarding gold trends. Additionally, we have the release of the FOMC meeting minutes on Thursday night, which usually leads to a decline in the dollar after publication.
(🔸Resistance 🔹Support▪️Current Price)
#GOLD
🔸 Resistance: 2039, 2029, 2022
▪️ Support: 2018
🔹 Support: 2014, 2009, 2003
✍🏻 Gold has once again managed to reclaim the $2000 channel and has been on an upward trend for three consecutive days. Currently, gold is influenced by complex interactions of economic factors, geopolitical issues, monetary policies, and market sentiment changes, acting as a safe haven amidst political disturbances and concerns about oil supply. The most important daily support is at $2011, and as long as it stays above $2014, it can approach resistance levels. To test $2055, it needs to stabilize above $2038. Otherwise, it oscillates within a 200-pip range for now. Pay attention to movements in the dollar index regarding gold trends. Additionally, we have the release of the FOMC meeting minutes on Thursday night, which usually leads to a decline in the dollar after publication.
(🔸Resistance 🔹Support▪️Current Price)
#GOLD
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🔹 AUD
🔸 The Australian dollar is a commodity currency (beta), meaning it is positively influenced by risk appetite in markets like stocks and negatively affected by risk aversion. Any uncertainty that puts pressure on stocks also impacts the AUD negatively. The reduction in China's 5-year and 1-year loan rates (as we saw today, continuing China's easing policies) and support for strengthening the Chinese economy can lead to increased demand and exports for Australia, thus strengthening the Australian dollar. However, the release of the RBNZ meeting minutes and weakness in statements and positions of Governor Bullock could have a short-term negative impact on the Australian dollar.
🔹 EUR
🔸 In France, the government has reduced the economic growth forecast for 2024 from 1.4% to 1% due to Gaza war and concerns regarding China. We are also witnessing a decrease in economic growth in Germany. If the ECB continues to maintain interest rates at high levels, this could lead to a greater-than-expected decline in Eurozone economic growth. Currently, the market is focused on the interest rate reduction in April, and any talks by ECB officials about moderating rate cuts could strengthen the euro and put pressure on stock markets.
🔹 USD & CAD
Today, the US consumer confidence index can attract market attention as views on the economic outlook can have an influential effect on interest rate changes. (In December, the Federal Reserve emphasized weakness in consumer confidence, which contradicted consumer sentiment at the University of Michigan, so today's data could be very important). In Canada, yesterday's increase in industrial production costs and today's rise in CPI data can indicate consumer strength and demand-driven inflation. This could raise expectations for the Bank of Canada and strengthen the CAD.
🔹 JPY
🔸 The conditions for the yen are uncertain and not conducive to proper trading. While conditions currently point towards yen weakening, macroeconomic models are warning that the yen may strengthen from its weak levels. Therefore, buying yen crosses can carry significant risk. Last week, we saw Japan's GDP growth data indicating an economic downturn that could prompt the Bank of Japan to continue its easing policies, further weakening the yen. Currently, the growth of spring wages in Japan is the most important market factor for decision-making regarding the yen, and until we see growth in it, we cannot speak of the yen's sustainable strength.
🔸 The Australian dollar is a commodity currency (beta), meaning it is positively influenced by risk appetite in markets like stocks and negatively affected by risk aversion. Any uncertainty that puts pressure on stocks also impacts the AUD negatively. The reduction in China's 5-year and 1-year loan rates (as we saw today, continuing China's easing policies) and support for strengthening the Chinese economy can lead to increased demand and exports for Australia, thus strengthening the Australian dollar. However, the release of the RBNZ meeting minutes and weakness in statements and positions of Governor Bullock could have a short-term negative impact on the Australian dollar.
🔹 EUR
🔸 In France, the government has reduced the economic growth forecast for 2024 from 1.4% to 1% due to Gaza war and concerns regarding China. We are also witnessing a decrease in economic growth in Germany. If the ECB continues to maintain interest rates at high levels, this could lead to a greater-than-expected decline in Eurozone economic growth. Currently, the market is focused on the interest rate reduction in April, and any talks by ECB officials about moderating rate cuts could strengthen the euro and put pressure on stock markets.
🔹 USD & CAD
Today, the US consumer confidence index can attract market attention as views on the economic outlook can have an influential effect on interest rate changes. (In December, the Federal Reserve emphasized weakness in consumer confidence, which contradicted consumer sentiment at the University of Michigan, so today's data could be very important). In Canada, yesterday's increase in industrial production costs and today's rise in CPI data can indicate consumer strength and demand-driven inflation. This could raise expectations for the Bank of Canada and strengthen the CAD.
🔹 JPY
🔸 The conditions for the yen are uncertain and not conducive to proper trading. While conditions currently point towards yen weakening, macroeconomic models are warning that the yen may strengthen from its weak levels. Therefore, buying yen crosses can carry significant risk. Last week, we saw Japan's GDP growth data indicating an economic downturn that could prompt the Bank of Japan to continue its easing policies, further weakening the yen. Currently, the growth of spring wages in Japan is the most important market factor for decision-making regarding the yen, and until we see growth in it, we cannot speak of the yen's sustainable strength.
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🔘 The most important technical points for gold on February 22, 2024!
🔸2044
🔸2037
🔸2032
▪️2030
🔹2020
🔹2014
✍🏻 If gold can overcome and stabilize above the resistance at 2032, it has the potential to reach the channel ceiling (2044). The resistance at 2057 appears to be very strong, and the range around 2050 seems to be the target for the current upward wave. Key intraday supports are observed at 2025 and 2020. Today is the day of PMI data release.
(🔸Resistance 🔹Support ▪️Current Price)
#GOLD
🔸2044
🔸2037
🔸2032
▪️2030
🔹2020
🔹2014
✍🏻 If gold can overcome and stabilize above the resistance at 2032, it has the potential to reach the channel ceiling (2044). The resistance at 2057 appears to be very strong, and the range around 2050 seems to be the target for the current upward wave. Key intraday supports are observed at 2025 and 2020. Today is the day of PMI data release.
(🔸Resistance 🔹Support ▪️Current Price)
#GOLD