Support Level Confluence In this type of setup, you are basically speculating on a breakout. Please bear in mind that you need to spot at least three hits in order to determine your support level. Additionally, the price action may…
Using Price Action Strategy In FOREX, “Price Action” refers to a discipline that helps you to determine how to conduct trades. While there are several tools such as moving averages that help to determine support and resistance levels, the fact…
Using Divergence for Entry and Exit Strategies Divergence is highly effective when you are looking to plot entry and exit points as part of your overall trading strategy. Mainly divergence can signal at what point you can get in and…
Working With Indicators MetaTrader 4 is loaded with indicators. It comes pre-loaded with over 50 various indicators. These core indicators are set up automatically when you install MetaTrader 4 for the first time. For the most part, you might not…
Signs of a Legitimate Broker When you are selecting the brokerage firm you plan to do business with; there are a number of signs you can look out for. So, let’s take a look at these signs: You can get…
Psychological Levels For all the data and analytics in the world, investors are usually driven by psychological factors. These factors may range from fundamental elements such as economic stability to purely subjective factors like expectations. As such, psychological levels are…
Avoiding Divergence Drawdown The easiest way to avoid divergence drawdown is to look at the resistance level for the currency pairing you are tracking. While you might be tempted to set up your take-profit point right at the top of…
Divergence and Confluence Confluence occurs when two or more indicators meet each other at some point in a chart. This means that you need to look at various indicators to ensure that you have the right setup in mind. To…
Developing a Solid Trading Mindset Throughout this book, we have emphasized the importance of solid technical analysis and objective data. However, a good mindset is just as important. This implies that having a good mindset can be just as important…
Most Popular Currencies In The Forex Market By definition, trading FOREX is all about working with the world’s entire currency supply. There are some currencies that are staples of the currency world, such as the US Dollar, the British Pound…