Have you ever been in a trade where everything seems to be going according to your analysis? You take your eyes off your charts for a moment and return to find that your trade has closed at an unexpected loss.
Forex is an extensive market with an endless list of currency pairs to trade. But some of them take the lead when it comes to trading volume. We call them major currency pairs or FX majors.
A Forex chart is a kind of a window that gives us a glimpse of the forex market. It is often represented in the form of a graph, with the price displayed on the right side and the time shown at the bottom.
Identifying and drawing support and resistance levels are some of the first few things a novice trader learns in forex technical analysis. And depending on the instructor or trade academy, there are several ways to draw them on your charts.
So, you’ve employed your strategies on the demo account and you feel you are ready to start live trading? Great! But how do you know for sure that you’re ready to switch over to a live Forex account?
One of the most widely used sets of tools in forex is the Fibonacci one. And the most common Fibonacci tools are Fibonacci retracement, expansion, arcs, time zones, and fan.
There is a popular belief among traders that you can start Forex trading with a little amount of money and become a multimillionaire in just a few weeks. But is it really so?
The rectangle pattern forms when parallel support and resistance levels cover the price at the top and at the bottom. You'll often find this pattern during consolidation in trending markets.
Before you do any trading, you first have to learn how to read Forex currency pairs. You may then learn all kinds of analysis and trading strategies, but only after you understand Forex quotes.
One trading style that relies heavily on pivot points is the intraday or day trading. The reason behind this is that pivot point trading includes strategies that often allow intraday traders to get in and out of trades within a day.
