If you don’t have much time to learn how to trade, there’s really only two patterns you need to learn to develop a profitable trading strategy: The bullish engulfing candle pattern and the bearish engulfing candle pattern.
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?
Understanding and identifying liquidity pools in forex is key if you want to become a better trader, but what are liquidity pools?
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.
One of the biggest issues new day traders face in Forex is a lack of strategy. It’s all too easy to get caught up in every little move on every pair, but when trading by the seat of your pants, eventually you’ll be caught with your pants down.
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.
The foreign exchange market is the largest and most liquid financial market in the world, with razor sharp spreads and daily trading volumes in the trillions of dollars.
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.
