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The existence of a trend in any market depends on a series of relative highs and lows. Two consecutive relative highs, each above the previous relative high, and two relative lows above the previous low would be constitute a tentative up-trend. A third relative high would confirm the trend...
Surprising, but traders are also human beings, and as all humans, they have their own superstitions, omens, symbols of fortune and bad luck, etc...
From daily chart, this pair are still in channel down, and major target for bearish at major fibonacci support at 1.3220 level. If we look inside smaller timeframe, new resistance level perform at fibonacci 61.8 at 1.3440 with target at 1.3322...
Dow Theory asserts that major trends have three distinct phases: accumulation, public participation distribution. The accumulation phase represents the first part of the trend in which those who are well-informed buy or sell...
What are support and resistance? Support levels are prices where buyers have shown or are likely to show strength. Resistance levels are prices where sellers are likely to be strong. Support Support levels essentially give the market a 'floor', since they are areas where buyers tend to be strong...
Three major types of charts 1. Bar Charts Bar charts provide traders with four key pieces of information for a given time frame: the opening price during that time frame; the closing price; the high price; and the low price. 2...
There are two major approaches to analyzing the currency market: fundamental analysis technical analysis. The fundamental analysis focuses on the underlying causes of price movements, such as the economic, social, and political forces that drive supply and demand...
Do you want to know why the market is selling? It’s really very simple. Too many people thought they could predict with certainty it would continue going up. This isn’t rocket science. How many of these programmers we’ve discussed anticipated the market going down...
Dark Cloud Cover Offered Warning Near Range-Top Harami Pattern May Find Limited Follow-Through The Australian Dollar may struggle to recover further ground despite the emergence of a Harami pattern on the daily, given sellers remain nearby at 0.9320...
If H4 price will break 1.0943 resistance level on close bar so the primary bullish will be continuing. If not so we may see ranging market condition...
In a warning issued by the National Bank of the Kyrgyz Republic the users in the country have been warned against Bitcoin and other similar virtual currencies...
Fundamental Forecast for Australian Dollar: Neutral Australian Dollar May Rebound as Markets Retool Fed Policy Outlook Jobs Report May Overshadow RBA Rate Decision as Aussie Catalyst The Australian Dollar faced heavy selling pressure last week, with prices dropping through the bottom of a range t...
SIX BASIC TENETS OF DOW THEORY 1. The Average Discounts Everything One of the basic premises of technical analysis is the idea that the market reflects every possible factors, and information that can possibly affect overall supply and demand...
Every trader knows that the market is a periodic entity. It is not surprising. Weeks, days, sessions start over and over again by a global schedule. Montly reports, seasonal changes, and most other things happen regularly. And even the quotes themselves are organized into a series of uniform bars...
Fundamental Forecast for Gold: Neutral Gold the Commodity or Gold the Currency? Weekly Price & Time: Critical Test Coming Up For Gold Gold prices are lower for a third consecutive week with the precious metal off by 0.90% to trade at $1295 ahead of the New York close on Friday...
Fundamental Forecast for Yen: Neutral USDJPY Rallies as US GDP Rebounds Strongly in the Second-Quarter USDJPY Attempting to Breakout The USDJPY broke out of the bearish trend from earlier this year as the Federal Open Market Committee (FOMC) scaled back its dovish tone for monetary policy, but th...
I am sure all of you agree that constant learning and gaining experience are necessary things while doing trading. However, as one of my favorite proverbs says, "We learn more from mistakes, than we do from lectures...
Fundamental Forecast for Pound: Bearish British Pound breakdown looks like the real deal, further losses ahead Disappointing UK Manufacturing data sends the GBP to fresh lows Traders sent the Sterling lower for the fourth-consecutive trading week, and whether it can recover into the new month may...
USDCAD has finally turned bullish now after recent decisive break out of a downward channel. A break indicates a completed corrective decline from the high so we suspect that pair will stay bullish now and attach 1.1270 highs of the year. We are bullish now on USDCAD as long as 1...
Fundamental Forecast for Dollar: Neutral NFPs may have dampened momentum behind rate forecasts just before a true trend was set Risk trends may single-handedly carry the dollar’s next move – whether full blown trend or begrudging correction The most capable backup for the dollar’s run also happen...
