Beginner Technical Analysis
What Is A Pip In Forex Trading?
Pip is an acronym for “price interest point” or “percentage in point”, which is a price change of 1/100 of 1% or one basis point. This represents the smallest possible change in an exchange rate.
The majority of Forex pairs are quoted up to 4 decimal places i.e. a pip is the last of those 4 decimal places.
William Percentage Range Indicator
As Forex traders, we often learn different things from mentors, teachers, and “experts”. Even though knowledge is shared continuously, many indicators are hardly ever mentioned.
It is almost impossible to find in-depth information about these indicators and what works best with them.
In this article, we will take a look at the William Percentage Range indicator.
How To Trade Flag Patterns
Flag patterns are a form of consolidation that occurs during market trends. Breakouts from these patterns favor trend continuation, so flags are considered retracements within a prevailing trend.
A bullish flag pattern indicates that an uptrend is likely to continue, while a bearish flag pattern suggests that a downtrend will continue.
Forex Market Weekly Open And Close
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.
Trading The Rising Wedge Pattern
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.
2 Ways To Gain A Positive Expectancy (Edge)
There are two ways most traders achieve a positive expectancy (get the probabilities in their favor). These can be used separately or together to gain an edge but the logic is simple – You either FOLLOW THE TREND or trade using CONFLUENCE.
Volume In The Forex Market
Volume refers to the amount that a financial instrument has been traded over a specified period. In the Forex market, this would be how much a certain currency pair has been exchanged. For example, traders will analyze the volume of EURUSD over a 4-hour timeframe.
3 Technical Keys EVERY Forex Trader Needs
As a trader, there aren’t going to be too many things you have in common with other traders because everyone is different right? Trading is one of the few things in this world that rewards using the ideologies of others.
Trusting Your Analysis
Newbie trader, this one is for you and maybe a couple of traders who still aren’t too sure of their trading skills or whether or not their strategy still works!
Here is one thing we should always remember about the Forex markets – the Forex markets are a game of probabilities and as much as we want to win every single trade, unfortunately, it is merely impossible. IMPOSSIBLE!
Reversals In Forex – How To Identify And Trade
Reversals refer to a change of direction in a market. If the market is in an uptrend then a reversal would lead to a price decline, if the market is in a downtrend then a reversal will lead to a price increase.