How to Draw Trend Lines While Trading Forex

Trade lines are a very important tool in technical analysis. It used for judging entry and exit timing while trading. What is a trend line? Trendlines are drawn with a diagonal line between two or more price pivot points. Look at the Daily chart below of the EUR/USD currency pair. The pair made a significant […]

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What is Support and Resistance and How To Use it

Like the concept of trend, support and resistance are one of the major concepts in trading. Support and resistance are psychological price levels where forces of supply and demand meet. At support line demand starts to increase and supply starts to decrease. This is a buying pressure. Inversely at resistance line, supply starts to increase […]

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Candlestick Charting Explained

Candlestick charts are probably the most commonly used charts by forex traders. This is the preferred method of displaying price action because these charts provide a quick and easy way to size up the market. When looking at candlestick charts there are 3 elements that you should pay attention to. Color of the candles Just […]

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Various Methods of Charting in Forex Trading

Technical traders require technical charts for forex trading. Technical charts are available in most of the trading platform offered by forex brokers. A technical analyst understands the movement of the market and takes a trading decision by observing these charts. There are different types of technical charts. Three types of charts are available in most […]

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Significance of Volume in Forex Market

Volume is always foremost in the case of financial trading or investing approach. The volume gives us idea about various things such as traders’ activity, volatility, buying or selling pressure etc. It is always better to trade when a large number of trading activity is happening. In the case of trading, it is extremely important […]

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Fundamental Analysis vs Technical Analysis

Fundamental analysis and technical analysis are two different methods of analysis. There is a major controversy between these two analytical methods. Some think the fundamental analysis more effective than technical analysis. On the other hand, some traders think technical analysis is more effective than fundamental analysis. The debate between technical and fundamental analysis is incomplete […]

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What is Technical Analysis for Forex Trading ?

Technical analysis is a method to analyze the future possible direction of price movement of currency pairs or securities or other financial assets by using past market data, primary price, and volume. Technical analysts use charts, indicators, and other drawing tools to understand the future possible price movements and its direction. Technical analysis has become […]

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FOMC & BOJ Update

There has been some craziest things happening in the market last couple of days. Market is Moving in Choppy Range followed By some nasty Spike in one another direction. This is due to post brexit world uncertainty in the world capital market. looking at the FX market almost all the majors are facing some issues […]

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Forex Update

USDJPY: On 22 July we forecast short USDJPY on daily close < 106.60 with target 104.25. we are reaching in the initial support zone 103.90-104.25; so, Reducing Shorts here ahead of BOJ policy meeting.  

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Gold Forecast – 23 July

Gold rebound of weekly S1 Support (1313) & makes bullish Englufine candle for the day. We are looking for swing Long Position near 1320-24 by placing stop below yesterday’s Low (1310). Weekly opening range high 1335 would be first target. Daily Close > 1335 shift focus on 1345 (weekly pivot) & 1358 (Brexit high). Ultimate […]

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