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Learn how to trade Forex profitably
Bollinger bands are a technical analysis indicator that consists of an upper, a middle (simple moving average), and a lower band. Usually, price action will be contained within the Bollinger bands, although breakouts do occur.
This indicator can be a great asset to technical analysts because it can be used to gauge market conditions, spot entry opportunities, and set targets.
This is very much a beginner topic, but I think it is essential to learn about the market open and close because trading mistakes made during these times can be avoided, as long as you are aware of them.
To start, I want to point out that the Forex market is not the same as the stock market in terms of when the market closes and opens.
Today we will look into the rising wedge pattern which occurs in the markets when price contracts in a specific direction. On a chart, you will observe a trendline underneath price and channel line above.
Within the wedge, the market still has bullish momentum, but breakouts out of this pattern can occur in either direction.
Whenever someone talks about taking a break in Forex trading, or trading in general, it usually comes after losing money. SO… you probably just lost money.
A little, a lot, it doesn’t matter, but you feel like all the trading advice you’ve been given indicates that you should probably take a break. Should you? I wouldn’t advise it.