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EUR/USD and GBP/USD Forecast — January 25th 2021

In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the January 25th session. EUR/USD — The euro rallied on Friday session, but found resistance at the 1.22 level, and formed a shooting star candlestick. So, a pullback is inevitable, and the 50-day EMA will likely be the next support. A break above the 1.22 level is very bullish and the euro could go much higher. GBP/USD — The pound has pulled […]

Bitcoin Forecast — January 25th 2021

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the&nbspJanuary 25th session. BItcoin/USD — The trading session was bearish on Friday session. However, it found support above the $33,000 level. So, this is a positive sign for bitcoin. However, there exists a lot of noise above. So, this market is going to be choppy for a while. As you can see on the daily chart, you can make an argument for a descending […]

Gold Forecast — January 25th 2021

In this video, the Trader Guy looks at the commodity, gold for the  January 25th session. Gold/USD — Gold pulled back slightly on Friday session. However, the area below looks supportive as you have the 200-day EMA. This market is still in an uptrend. The market needs to overcome resistance at the 50-day EMA. The $1,950 level could be the next target. It looks like this market is attempting for form a basing pattern […]

How Do You Trade Forex?

The forex market is the largest financial market in the world. Decide how you would like to trade forex: You can choose from spread betting to CFD. You can speculate on the price of the forex pairs and you do not have to take ownership of the underlying asset. So, you can take long and short positions using a stop-loss. You can make use of leverage to trade a much larger position with a small […]

The Awesome Geometry of the Andrews Pitchfork

The Andrews pitchfork indicator is one of the most advanced price action tool in technical analysis. With high accuracy, you can predict reversals. Most technical indicators have lag and have poor scientific substantiation behind them. This indicator respects the complex nature of price. It does not attempt to cover price action in a fixed window of time. Pitchfork indicator respect the length and time duration of the price vectors in a non-linear […]

Forex Trading — Candlestick Charts

In this video, you will look at the basics of candlestick charts. The Japanese used candlesticks for analysis in rice trading in the 17th century. In 1960, it was commercially introduced to the world by Steve Nison. It is similar to bar chart, but with much more visual representation of sentiments. You can use them in conjunction with other technical indicators. Candlestick charts show open, high, low, and close price. A green candlestick […]

What Is the Overall Difference Between Trading Stocks and Forex?

The stock market is a centralized market. However, the forex market does not have one central exchange. So, there is no perfect way to measure the volume traded in the forex market. The volume obtained from brokers represents the data stream of those brokers. However, it does not represent the total volume worldwide. In the forex market, you can profit from both rising and falling market. If you believe […]

Why Is It Important to Have Technical Indicators in Our Toolbox?

Traders use technical indicators to predict future price by looking at past price patterns. They are used for analyzing short-term price movements and do not take fundamentals into consideration. Technical indicators help you to identify existing trend and reversals Using too many indicators may cause confusion. Some indicators are suitable for trending market. While some indicators work best in ranging conditions. Indicators are derived […]

Forex Market Hours — Explained

The forex market operates 24 hours a day. So, you can trade at a convenient time which is suitable for you. The best time to trade is when the market is the most active. A volatile market gives you more trading opportunities to trade and profit. The forex market starts from Sydney, Australia and closes with the US session. The London session is the most volatile session in the world. The London and the US session overlap […]

What Is Market PrIce?

The market price represents the current price at which a stock, forex currency pair or a commodity is traded. According to economic theory, the market price come together at a point where the forces of supply and demand meet. The traders can be divided into buyers, sellers, and undecided investors. Buyers always want to buy as cheap as possible. Sellers want to charge as much as possible. This conflict is seen in forex trading as bid-ask spread. The bid […]

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