Hanging Man is a candlestick pattern that has a single candlestick. It is formed during an uptrend. This indicator reflects that the price is increasing continuously. Therefore you can expect that a reversal in the direction of the price movement is soon going to happen. It is just like a warning sign that indicates that buyers are not interested to trade right now. The forex market is dominated …
Flat market is the time of uncertainty when the price of a currency changes but continues to be in a certain range. Predicting the price of the currency during a flat condition is a hard nut to crack as the price moves within a narrow range of 10-60 points. The price cannot cross the maximum limit of 60 points. It reflects a horizontal trend of the price movement. …
Pending orders have a great significance in Forex trade. It is a type of order in which the trader specifies some conditions that should be met before executing a trade. When you place a pending order, you refuse to accept the current price of a currency. Instead you want to buy or sell the currency when the price of the currency reaches to your specified level. Kinds: Pending …
Inverted Hammer is one of the widely analyzed dual candlestick patterns. It is one of the most trusted indicators of reversal in Forex trade. We can say that it serves as a warning of a total change and reversal in the price. It is formed near the end of a downtrend. It is a state of the financial market when the price of a currency is constantly decreasing. …
Read moreWhat is Inverted Hammer? How to Use it in Forex Trading
Engulfing Candle is one of the most reliable patterns in Forex trading. It is a common part of technical analysis conducted all over the world to earn profit in Forex trade. It is formed when the latter candlestick indicator overshadows and dominates (engulfs) the first candle of the pattern. Kinds of Engulfing Candles: Engulfing Candles are of two kinds. These are: Bullish Engulfing Pattern Bearish Engulfing Pattern Let’s …
Traders prefer Japanese candlesticks to understand the pattern of the movement of price of currencies in Forex trading. They then make their trading decisions on the basis of that pattern which is part of technical analysis. Doji is a popular pattern of candlesticks that traders use to analyze the price movement of currencies. It provides more accurate information than the bar charts. Therefore traders prefer candlesticks. It is …
Spinning Tops is one of the most extensively used tools of analysis in Forex Trade. Traders all over the world prefer Japanese Candlesticks to strengthen their trading decisions. Different patterns of Japanese Candlesticks are used and analyzed for sound trading decisions. Spinning Top is the most widely preferred pattern of Japanese Candlesticks and indicator and second one is price channels. Spinning Tops: The kind of Japanese candlesticks that …
A prominent analysis for making beneficial trade decisions in Forex Trade is Candlestick analysis. Candlestick analysis is mostly associated with dealing and effectively managing Support and Resistance. The results of Candlestick Analysis prove more effective when you also keep in mind the current conditions of financial market as well. However you should consider the fact that you are dealing in unpredictable Forex Trade where every value is bound …
Forex trade is a career with a complex scenario. It ensures recognizable profit but you have to earn it by devoting your time with full focus and maintaining trade journal. You need to learn that loss is a part and parcel of trade, just like profit. You have to pay keen attention to two interlinked concepts. These concepts are: Repetitive Behavior Loss Repetitive Behavior: In our daily life, …
Fibonacci is a vast subject. It is a complex analysis with different concepts. It is an effective and widely used analysis in Forex trade. However two of its concepts are relatively vital in Forex Trade. These concepts are Retracement and Extension. Let’s have a look at the beginning of Fibonacci. Origin of Fibonacci sequence: It is named after an Italian mathematician, Leonardo Fibonacci who devised this analysis by …