Many traders would have you believe that a certain trade or tool is the best way to manage your risk in the forex market. But the truth is, the best risk management strategy, and to many the hardest, is self-discipline.
Specifically, as a trader, you must never risk more than 1% of your total capital on a single trade.
The main reason for this rule is to minimize...
Pair maintains a lower-highs, lower-lows pattern this year and a bearish MA crossover targets November lows; at bar 7 on daily DeMark buy setup, bullish outside day Tuesday comforts longs.
• 3rd resistance: 1.1514, Jan. 31 high
• 2nd resistance: 1.1382-91, 21-, 55-DMAs
• 1st resistance: 1.1342, session high
• Spot: 1.1322
• 1st support: 1.1276, pivot s1
• 2nd...
EUR/USD – Pair stays in lower-highs, lower-lows pattern this year and a bearish MA crossover in the making suggests further losses possible; key trendline since November in focus; at bar 5 on daily DeMark buy setup
• 3rd resistance: 1.1514, Jan. 31 high
• 2nd resistance: 1.1392-94, 55-, 21-DMAs
• 1st resistance: 1.1351, Feb. 8 high
• Spot: 1.1327
• 1st support:...
When someone mentions Macroeconomics, they are automatically talking about the big picture of the economy. Macroeconomics is concerned with the large-scale view of an economy and there are usually four main factors that make up this subject: GDP, Inflation, Unemployment, and Interest Rates. In most cases, changes in these factors could drive the Forex market in...
Picture this, sitting there on your trading desk, having all the latest tools at your disposal. One of those pings up and show you the perfect trade set-up, but for a second you hesitate, and the opportunity is gone.
You doubt yourself and say, “Better late than never,” and that kind of thinking, trying to rationalize a mistake made which will cost you a lot....
55-DMA fails to contain selling pressure; the pair remains within a bullish trend since November, with support ~1.1320; Bloomberg Trender Indicator will revert to bearish on close below 1.1343
• 3rd resistance: 1.1490, Jan. 15 high
• 2nd resistance: 1.1425, 21- DMA
• 1st resistance: 1.1383, 55-DMA
• Spot: 1.1377
• 1st support: 1.1353, Jan. 18 low
• 2nd support:...
EUR/USD – Mean reverts, bulls need 55-DMA to hold, currently at 1.1384; even if the gauge fails to support, the pair remains within a bullish trend since November, with support ~1.1320; Bloomberg Trender Indicator will revert to bearish on close below 1.1343
• 3rd resistance: 1.1586, 61.8% Fibonacci retracement of decline since Sept. 24
• 2nd resistance: 1.1490,...
Breaking below the 1.1400 slightly before rising above. It seems that this level should be acting as support for the next couple of trading secessions. Be careful of the EURGBP cross and its effect on the EURUSD.
• 3rd resistance: 1.1490
• 2nd resistance: 1.1460
• 1st resistance: 1.1435
• Spot: 1.1415
• 1st support: 1.1380
• 2nd support: 1.1345
• 3rd support: 1.1310
Consolidation seems to be creeping into the pair, as the date of meaningful Brexit vote is just around the corner.
• 3rd resistance: 1.2885
• 2nd resistance: 1.2840
• 1st resistance: 1.2800
• Spot: 1.2735
• 1st support: 1.2715
• 2nd support: 1.2620
• 3rd support: 1.2540
Hits highest since October as it moves above the cloud and affirms bullish bias; 61.8% Fibonacci retracement of losses since September now into focus; 200-DMA at 1.1629
• 3rd resistance: 1.1621, Oct. 16 high
• 2nd resistance: 1.1586, 61.8% Fibonacci retracement of decline since Sept. 24
• 1st resistance: 1.1570, session high
• Spot: 1.1551
• 1st support: 1.1497,...
USD/JPY – Thursday’s hammer suggests a short-term bottom is in place, yet still stays bearish on a weekly basis; close above 110.00 could be a game-changer, forms a hanging man
• 3rd resistance: 110.71, 21-DMA
• 2nd resistance: 109.56, Dec. 31 low
• 1st resistance: 109.09, Jan. 8 high
• Spot: 108.84
• 1st support: 108.44, Jan. 8 low
• 2nd support: 108.02, Jan. 7...
