Hello traders 📊
On this picture here you can see 3 types of breakouts. On the left side you can see breakout examples in an downtrend and on the right side, you can see examples in an uptrend.
Breakouts occur when price breaks a certain zone (support or resistance) and in many cases breakouts represent very important moment. This is usually good time to look for...
When trading Forex, it is essential to know about the different types of currency pairs, as some pairs are much riskier to trade than others, especially for those with minimal trading experience.
Major Currency Pairs
Before we discuss major currency pairs, we should first list the major currencies individually. The eight major currencies are:
US dollar...
Have you ever noticed a time when a certain product went up and another similar product went down at around the same time? Or when that product went down and another product also went down at the same time? If the answer is yes, then what you noticed was 'product correlation' in action.
What exactly is product correlation? In the financial markets, correlation is...
Being a beginner, it is natural for you to feel overwhelmed when you first start forex trading. But that doesn’t mean that you should shy away from the market. By following the 5 steps listed below, you can start your trading journey in currencies in a smooth and efficient manner.
1. Get to know what drives the market 📈
When it comes to trading in currencies,...
Whether you're new to Currency Trading or a seasoned trader, you can always improve your trading skills. Education is fundamental to successful trading. Here are some tips that will help hone your Currency trading skills.
⭐️Plan How You Will Trade
You may have heard the adage, "if you fail to plan, you plan to fail." This is particularly true in Forex...
Losses are part of this business. People do not react well to losses. Badly handled losses in trading can trigger bigger losses. Furthermore, these have the dangerous potential of wiping out entire accounts. If you want to make it as a trader you need to have a solid psychological approach to accept and handle losses.
Lots of internet articles are suggesting that...
Good afternoon gold gang, hope you're having a good weekend.
I thought id hop on to share with you a piece of information of what i mean by clean range. Ok ..
Say you have 2 key levels in price .. we have had a big news event causing a big red candle to the left hand side. This has left what is called an imbalance. An imbalance is where the wicks of the...
Good afternoon gold gang! hope you're having a good weekend.
I thought id share with you my favourite entry set up for gold which is proven to be over 80 percent accurate according to my data.
Im looking for a strong close outside a major level .. by strong i meant 30 pips there abouts .. then the candle to close .. the next candle to wick down to retest the...
Losing is part of the game and the earlier you accept it the better it'll be for you. However, you shouldn't just lose. You should try and become as profitable as possible and all your losses should be clearly calculated and expected but not hoped for. That way the loss will not weigh down on you and affect you psychologically.
There is a trick that market makers use and that is to create consolidations in order to induce retail entries. In text book practice, retail traders will always view a resistance or support level that has been tested more than once as a strong area to do entries because they feel it will hold price. As a result they put stop losses above or below the entry and...
Liquidity runs occurs when price gives a false break out below a support or above a resistance and the purpose is usually to take out the stops or liquidity lying around those areas. This liquidity is then used by market makers to open their large positions in the opposite directions. When a false break out occurs below a support, stop losses belonging to retail...
So let's learn something about engulfing candles entries. An engulfing candle is usually a momentum candle and in most cases signifies reversal and at times trend continuation. Now what you do is plot your fib on the engulfing candle from wick to wick and mark the 40-50% retracement area which becomes a potential supply liquidity zone to sell from a bearish...
Do you know what’s more important than winning in trading? It is knowing exactly why you actually won . Why? So that you can do it constantly. Needless to say, it is equally important to know why you lost when you lost.
The successful trader is constantly winning money, no matter the conditions. The economy may be in recession … or not … Algorithmic trading...
This video explains 3 concepts, technical, fundamental and sentiment analysis. All three were used as a solid confluence which gave a remarkable 500+ pips move.
Yesterday, after more than 10 years, the Bank of Japan intervened in the market.
UsdJpy pair was very volatile and has a 550 pips daily range from top to bottom. However, thinking of previous interventions, yesterday's volatility represented around 2.5% if we take into consideration the daily close when in the past we had 5% moves...
But, what do we know from...
Every day I get many questions from traders and more than half of them are: "What will X asset do today, will it rise or fall" or "Do you think X asset will reach Y price?"
With very few exceptions, I say "I don't know". Surely my interlocutor will think that I don't want to tell him/her or that I'm an idiot.
In fact, the correct answer is another: "I don't...
Things that do not follow Elliott's basic rules can be seen in wave 1 or A or B or C or wave 4. The difference between these models is in the type of microwaves, which are multi-wave.
There is a great debate about whether technical analysis works or not, and my personal opinion is that most of the time, YES.
In this educational post, I will use EurUsd as an example and we will see how, using basic technical analysis knowledge, we could have been on the good side of the market for more than 2k pips.
So let's get started...
We can see from...
