As we all know, trading in forex could be a kind of investment that is classified as high risk, but also a high reward trading system that could allow an investor to either make a lot of money in a short period of time, or it could also work against to lose a huge sum...
Take an Overall View of the Market If you’re trading in a bullish market, then the majority of your trades should be long. If the market bearish then most trades you take should be short...
Wilder suggests that divergence between an asset's price movement and the RSI oscillator can signal a potential reversal. The reasoning is that in these instances, directional momentum does not confirm price...
The symbols for all currencies have three letters. The first two letters denote the name of the country and third letter stands for the name of that country’s currency. As an example, let’s look at the USD. The US stands for United States and the D stands Dollar...
Traders can draw trend lines using RSI indicatorin the same way as trend lines on the price charts. RSI trend lines are plotted as the same way as trend-lines are plotted on the chart; by joining consecutive highs of the RSI Indicator or consecutive lows on the RSI Indicator...
Divergences not only signal a potential trend reversal; they can also be used as a possible sign for a trend continuation. Always remember, the trend is your friend, so whenever you can get a signal that the trend will continue, then good for you...
Fibonacci Trading: How to Master the Time and Price Advantage: Carolyn Boroden Made famous by the Italian mathematician Leonardo De Pisa, the Fibonacci number series holds a Golden Ratio that is universally found in nature and used by architects, plastic surgeons, and many others to achieve “perf...
2015-05-05 13:30 GMT (or 15:30 MQ MT5 time) | [USD - Trade Balance] past data is -35.9B forecast data is -41.2B actual data is -51.4B according to the latest press release if actual > forecast (or previous data) = good for currency (for USD in our case...
This post is for those of you who wish to try out an Expert Advisor, Indicator or Script but aren't too sure where to start. First, some background information. These are "add ons" that you can use within Metatrader4 (MT4...
Dynamic Stop Loss It is a good idea to never trade without a hard stop loss unless you are using extremely small position sizes. This is an essential part of controlling risk in Forex trading. The stop loss may be made dynamic, as a way to lock in profits on a trade that progresses profitably...
The topic is "Understanding the Game - Recreational vs Professional Traders". The presenters are Michael Patak, John Hoagland, Bob Iaccino, and Mike Arnold. The webinar is setup as a round-table "Ask Me Anything" format for about 90 minutes in length or so...
GBPUSD rebounded sharply from the 38% retracement of the mid-April range at 1.4865 Our near-term trend bias is higher in the pound while over 1.4865 The 50% retracement of the February/April range at 1...
A 0.6% rebound in orders for U.S. Durable Goods may heighten the appeal of the greenback and spur a bearish retraction in EUR/USD as it raises the fundamental outlook for the world’s largest economy...
USDJPY bounced from Gann suport around 118.40 at the start of the week Our near-term trend bias is lower while below 121.00 A move under 118.40/20 needed to set off a more important move to the downside in the exchange rate A very minor turn window is eyed early next week A close over 121...
For today R4 - 0.7740 R3 - 0.7687 R2 - 0.7670 R1 - 0.7635...
If you’re a developing trader, how would you describe your trading style? Dr. Brett Steenbarger posted good article about it: he lists a few pitfalls that occur when the market environment shifts and a trader fails to adapt and falls into a slump...
Click on my name above to find out I have tried everything . You name it Trend Following , Harmonic Patterns ( diminishing returns as brokers adapt) , Square Waves, Fibonacci ( we are looking at 261 extensions now!) , Heiken Ashi , Renko ( great for trend continuation , but slow on entry points...
Tenkan-sen line is located above Kijun-sen line of Ichimoku indicator with 122.02 resistance and 118.23 support on W1 timeframe with good signal for the secondary correction to be started within the primary bullish on open weekly bar...
Tenkan-sen line is below Kijun-sen line of Ichimoku indicator on W1 timeframe with 0.7532 support level and 0.7937 resistance level to be ranging within the primary bearish market condition on W1 timeframe...
