I feel like the word “Diversify” may be over-rated. In some circles, they trade commodities. In other circles, they trade cryptos, and in my circle, we trade Forex. Which should you trade? Should trade you trade all of them? I don’t recommend it. It’s never as simple as ABC or 123 when it comes to trading.
Our goal as Forex traders is to be consistently profitable. But we need a consistent process to achieve success year after year.
A framework allows us to study the results of our actions. Therefore we can make success repeatable by simply following the same process.
Head and shoulders (H&S) refers to a popular technical analysis pattern used to trade market reversals.
A classic head and shoulders indicates the probable end of an uptrend proceeded by a downtrend. Inverse head and shoulders also occur in markets, and these suggest that a downtrend should come to an end followed by an uptrend.
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.
At the time of writing, I’ve had an incredible week. Filled with opportunities and trade setups that would have you questioning whether or not we’ve actually come to the end of the year! I mean, seriously, since when are the markets so volatile in December??
Today we will look at another uncommon indicator that isn’t really spoken of in the Forex trading community.
Remember the first day you were introduced to algebra in math class, and you were so confused? Okay, maybe not all of you, but for the majority of us it was the case. However, by the end of the term, you understood the concept.
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.
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.