First step: Identify trend. Price is obviously in an uptrend locally. This can be seen by price making higher highs and higher lows every day. Step 2: Wait for the New York initial balance to form in order to make an educated discission. You can see the IB form, which is the A and B blocks. After the IB is formed CDE bocks formed a failed auction below the...
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Welcome to the intriguing world of Forex, where currencies act at their own rhythm, sometimes defying expectations and confounding even the most experienced traders. In this article, we are going to unravel the “mysteries” surrounding the reactions of USDCHF and EURGBP to recent interest rate hikes. We will dive into the realms of market anticipation, monetary...
Price bounced off the 1.2683 support we identified and rose nicely to our take profit target at the 1.2832 level. In this review, we touch on why we used the 1.2832 level and not the swing high at 1.2850 - a lot of this is down to trade management and take profit placement. Please be advised that the information presented on TradingView is provided to FXCM...
There is a tug of war situation among the central banks to hike interest rates. What is the bad and the good that will come out from this? i. Last week of October, European Central Bank officials announced another massive 75 basis point hike, increasing interest rates at the fastest pace in the history of the euro currency. ii. This week, the Federal Reserve is...
Pound dropped 23% against JMD in 7 months. A stronger dollar for little third world country is not good overall. This will attract less exports as it is more expensive for foreign countries to buy products or exports from the country. In addition, tourism, which the country's biggest contributor to its GDP. Apparently tourism earns over 50% if the country's total...
GBPUSD is one of the most popular and widely traded trading instruments on the Forex market. Due to its high liquidity and high volatility, it provides opportunities for daily or intraday trading. In this article we will look at GBPUSD and give valuable tips for successful trades. Currency Overview The British pound is the main currency pair representing the...
1) Entry @ double bottom. 2) 2nd entry on break-out. 3) 3rd entry @ break & retest of flag pattern. 4) Sell after a break of rising wedge. 5) 2nd Sell entry @ break of flag pattern. 6) Entry @ break of inverted head & shoulder pattern. 7) 2nd entry @ break of symmetrical flag pattern. 8) 3rd entry @ break & retest of structure zone.
Green lines for entry & Red for stop loss In this example i have used patterns that may happen in a bullish trend but the same patterns inverted can be spotted in bearish trends too.
Find a momentum and draw a trendline. Spot what timeframe price has been respecting the EMA. ( I personally go for the 50 day EMA) Watch for a breakout then wait for the retest of the trendline. 1st entry @ retest of trendline. Stop loss goes above the previous high before the breakout. Please note that price will also have to be below the EMA its been...
Wait for a break below the most recent higher low . Once you get a break below, watch for a retest of that level ( may create a bear flag on the lower time frames which will allow you to draw a trendline; entries on break of trendline will be the safest).
TOP TIPS TO PASS PROP FIRM CHALLENGES (FTMO, MYFOREXFUNDS ETC..) 1. TREAT THE ACCOUNT AS IF ITS HALF THE SIZE. For example; If the challenge is a 100k challenge, treat it like its a 50k challenge and enter your positions according to that. That way, your losses wont be as big and if your strategy/analysis is good then you'll eventually pass the challenge. Most...
TOP TIPS TO PASS PROP FIRM CHALLENGES (FTMO, MYFOREXFUNDS ETC..) 1. TREAT THE ACCOUNT AS IF ITS HALF THE SIZE. For example; If the challenge is a 100k challenge, treat it like its a 50k challenge and enter your positions according to that. That way, your losses wont be as big and if your strategy/analysis is good then you'll eventually pass the...
Good morning, traders! Today we will make an educational post about a specific behavior in the market in certain circumstances, and we wanted to take advantage of the situation in GBP/USD that is currently happening. The pattern we are talking about is the CUP AND HANDLE PATTERN . This pattern is widely used in stocks or indices since they are trend instruments...
Good morning, Traders! Today we will make an educational post about the most used corrective patterns. There are numerous patterns, even more complex, such as Elliott counts where each internal wave of corrections is explored, but the reality is that it is not 100% necessary to apply it in the market. The idea of this information is to provide a simplified,...
What is Fundamental Analysis? Fundamental analysis is a way of looking at the forex market by analysing economic, social, and political forces that may affect currency prices. The idea behind this type of analysis is that if a country's current or future economic outlook is good, its currency should strengthen (Baby Pips - www.babypips.com) What is Technical...
What is Fundamental Analysis? Fundamental analysis is a way of looking at the forex market by analysing economic, social, and political forces that may affect currency prices. The idea behind this type of analysis is that if a country's current or future economic outlook is good, its currency should strengthen (Baby Pips - www.babypips.com) What is Technical...