3 Ways to Identify Reversals in Trading
Understanding when you are looking at a retracement or a reversal is a very important skill to have when you are working out how you will become a profitable trader. The fact remains that most people set themselves up in a bad place if they don’t have this basic skill down pat. So, we wanted […]
Buying And Selling Forex Currency Pairs
In Forex, a transaction is a simultaneous buy-sell — buying of one currency and selling the other. Thus, they are traded in pairs and quoted in relation to one another. Example pairs might be the U.S. dollar and the Canadian dollar (USD/CAD) or the Euro and the Japanese yen (EUR/JPY). In a pair, each currency […]
4 Key Single Candlestick Patterns in Trading
Since you’re familiar with important fundamental candlestick patterns like spinning tops, marubozus, and dojis, let’s cover some key single candlestick patterns. The following four single candlestick patterns often signal a potential market reversal. Single Candlestick Patterns: The Hammer and the Hanging Man The first of the single candlestick patterns we’ll discuss is the Hanging Man […]
What is Forex?
What is forex? Quite plainly, it’s the global financial market where people trade currencies. If you think a currency will be stronger than the other, and you take a position that validates your thinking, then you can make a profit. If you’ve ever gone to another country, you normally had to find a currency exchange […]
How to Use Fibonacci Retracements in Trading
Fibonacci retracements are horizontal lines where there is potential support or resistance in a currency pair. These are drawn by the trader themselves, and they are meant to be used to discover where they may be price points that are worth taking a look at. It should be understood that Fibonacci lines tend to work […]
How to Use the MACD Indicator
Another day, another indicator. This time, we want to look at how to use the MACD indicator to see what it is all about and how it might come in handy as you are trading. If you feel that your trading is lacking some indicators and tools that might be of use to you, then […]