Part1:
Price reading:
The price goes up, the price goes down. Why? For a simple reason:
An attempt to increase or decrease the price by a group of traders.
Endless competition between buyers and sellers. And who will succeed? For what reason?
And this is the principle that makes the market beautiful. The principle of competition.
Now what should we do as a smart trader?
Which group should we go with? Should we buy or sell? There is a simple answer:
We should read the price, see the signs and then decide what to do.
Where is the price?
Where did the price come from?
And where will the price go?
What is the price approach?
Many people think that they can become a good trader only by analyzing the chart. This is wrong. At the same time, you must have a minimum understanding of macroeconomic relations. The economic conditions of the dollar and euro zone and any currency you want to trade?
Inflation rate?
Important decisions of central banks and economic data. And the sum of these, along with the correct reading of the price, makes you a good trader.
And when we go back to the chart, reading the flow of orders is the most important.
Look again, analyze again, why is the price of this currency in this area?
Where can it go and for what reason? What are the obstacles?Where is a barrier?
What will make it easier for the price to go up or down.
And for this, trust your abilities. Learn to read the flow of orders. The price is unable to continue?.
Is there a reason for the price to return in this area? Do we have secondary confirmation?
Is the price being accumulate or distributed? What pattern can be made? And where is it's target?
The price has reached the target, but this does not give us permission to enter, we have to wait for the new decision of the market (the group that currently controls the market) whether there are higher or lower targets ?
Or no this was final target....
Price reading:
The price goes up, the price goes down. Why? For a simple reason:
An attempt to increase or decrease the price by a group of traders.
Endless competition between buyers and sellers. And who will succeed? For what reason?
And this is the principle that makes the market beautiful. The principle of competition.
Now what should we do as a smart trader?
Which group should we go with? Should we buy or sell? There is a simple answer:
We should read the price, see the signs and then decide what to do.
Where is the price?
Where did the price come from?
And where will the price go?
What is the price approach?
Many people think that they can become a good trader only by analyzing the chart. This is wrong. At the same time, you must have a minimum understanding of macroeconomic relations. The economic conditions of the dollar and euro zone and any currency you want to trade?
Inflation rate?
Important decisions of central banks and economic data. And the sum of these, along with the correct reading of the price, makes you a good trader.
And when we go back to the chart, reading the flow of orders is the most important.
Look again, analyze again, why is the price of this currency in this area?
Where can it go and for what reason? What are the obstacles?Where is a barrier?
What will make it easier for the price to go up or down.
And for this, trust your abilities. Learn to read the flow of orders. The price is unable to continue?.
Is there a reason for the price to return in this area? Do we have secondary confirmation?
Is the price being accumulate or distributed? What pattern can be made? And where is it's target?
The price has reached the target, but this does not give us permission to enter, we have to wait for the new decision of the market (the group that currently controls the market) whether there are higher or lower targets ?
Or no this was final target....