Growing up, I played a game and in this game, you had to swim to the bottom of the pool and collect as many coins as you could. Whoever had the most coins, (had the most money) won. With this game, the easiest way to win was to go where most of the coins were or at least where you saw the most coins piled up. You’re probably thinking this has nothing to do with trading Forex markets, yet alone trading technical analysis with confluence, also known as confluence trading by the way.
Not what you think
The stochastic indicator is very popular and a lot of beginners are drawn to it for its clear “Over-bought” and “Over-sold” signals, but a lot of them don’t know what it actually indicates.
The stochastic indicator ladies and gentlemen…
Knowing the types of market environments is not rocket science but identifying the environment in real-time can be difficult. If you want to know the types of market environments and how to access the conditions, then read on.
There are only 2 main types of market environments, trending markets and ranging markets.
Think of trading in probabilities! This is one of the most used statements in trading education, the reason being it is true. But what does “think of trading in probabilities” mean. By the end of this article, you will have an understanding of how probabilities apply to the market and why focusing on the odds in trading will make you more profit.
Trendlines form part of the core set of tools used by Forex traders who implement technical analysis. If you want to understand this concept better, then fate has lead you to the right place.
Trendline- A line drawn on a price chart that connects swing highs or swing lows. Trendlines act as support and resistance just as normal horizontal levels do.
I’ve specifically titled this article… what it is, because there isn’t just one MACD indicator or at least one way to use it. Most of the pictures of the MACD you’ll probably see have a zero-line (Explained further down), histograms and two moving averages and are not what I’m about to show you. Let me Explain.
It is impossible to talk about technical analysis in financial markets without the topics of support and resistance coming up. It is the equivalent of trying to explain soccer without mentioning passing. Using support and resistance in trading is arguably the most widespread factor used in the strategies and approaches of traders.