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…
Money Management in FOREX Investing Learning about money management in the world of FOREX is an essential tool that will help you steer clear of trouble. Mainly, money management pertains to a set of principles that you can apply when…
Understanding the trend To simplify things, use the charting function in your platform to calculate the trend line. Then, use the information reflected in the chart itself to determine the support and resistance levels. In particular, pay attention to the…
The Basics of Price Action To use Price Action strategy as part of your overall trading strategy, it’s important for you to become familiar with price charts. As we’ve mentioned, your platform can generate these for you using any timeframe…
Price Action Confluence When making use of Price Action as your main trading strategy, you can use confluence to devise your personal investment strategy. In the previous chapter, we discussed how you can use Price Action to determine entry and…
Analyzing the Market Being a successful FOREX investor requires a good dose of due diligence. This means analyzing the information that’s available on the market. In a manner of speaking, it’s like sports teams watching game film of themselves and…
Trading Cryptocurrencies Cryptos are not traded on the open market. This means that you need to go through a crypto exchange. These exchanges work in the same manner as FOREX does. The difference lies in that you are not trading…