Opening a forex trade is easy. You choose a currency pair, click Buy or Sell, and hope the exchange rate moves in your favour. Knowing exactly why you entered, when you should exit, and how much money you are prepared to lose is much harder. That is where a forex trading strategy becomes useful. A … Read more
A trading chart can quickly become crowded with moving averages, oscillators, coloured signals, and complicated formulas. Price action trading takes a simpler approach: start with the price itself. Instead of depending heavily on technical indicators, price action traders study how a market moves over time. They examine candlesticks, swing highs, swing lows, trends, support and … Read more
A forex candlestick chart can look intimidating when you first open a trading platform. The screen is filled with red and green shapes, thin lines, changing prices, and patterns that seem to appear and disappear within seconds. Fortunately, each candlestick tells a fairly simple story. It shows where a currency pair opened, how high and … Read more
Open almost any forex trading platform and you will see candlestick charts, trend lines, moving averages, and indicators moving across the screen. These tools are all part of technical analysis, one of the most common ways traders study currency prices. But what is technical analysis in forex trading? In simple terms, it is the process … Read more