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Forex Candlesticks Tutorial | What Information Do Candlesticks Provide? — Lesson 2

This is part 2 of the series. In this video, you will learn about The factors affecting the shift in demand and supply in the market. The sentiment to be understood from the shape of the candlesticks. The explanation for a doji candlestick. The battle between the buyers and sellers determines the pattern of a candlestick. A doji candlestick indicates that the neither the bulls nor the bears are winning in the market, with no real body for the candlestick. It indicates indecision in the market. You can […]

Forex Candlesticks Tutorial | Introduction to Japanese Candles — Lesson 1

This is part 1 of the series. In this video, you will learn the following. The components of a Japanese candlestick. The meaning of the color of a candlestick. The candlesticks in the perspective of their timeframes. The definition of a Japanese candlestick. Each candlestick represents the high price, low price, open price, and close price for a particular time period. It also consists of a body and wicks above and below the body indicating the highest and the lowest price for that period of time. Normally, green […]

EUR/USD and GBP/USD Forecast — December 12th 2019

In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the December 11th session. EUR/USD — The trading session was strongly bullish on Wednesday session and it was dud to the FOMC statement released. It indicates that a rate hike looks likely at the moment. The market is now pressing the 200-day EMA and the 1.12 level for resistance. With the ECB looking to do some quantitative easing, rallies that show signs […]

How to Trade with the MACD

In this video, you will learn about the MACD indicator. The Moving Average Convergence Divergence is a lagging indicator for trend following. It consists of two EMAs and a histogram, which is the difference between the two EMAs. You see a positive histogram when the fast EMA crosses above the slow EMA. This is your buy signal. A negative histogram is produced when the slow EMA crosses below the fast EMA. […]

Daily Market News — December 12th 2019

The macroeconomic data released from the US caused the greenback to weaken a bit. The pound, euro, and the New Zealand dollar are looking strong at the moment. The EUR/USD pair looks bullish as it broke above the resistance at 1.1113. The resistance levels are 1.1198, 1.1244, and 1.1279. The support levels are 1.1113, 1.1071, and 1.1043. The USD/JPY pair is range bound between the 108.27 and the 108.95 level. The resistance levels are 108.95, 109.96, and 110.69. The support […]

USD/ZAR Forecast — December 12th 2019

In this video, the Trader Guy looks at the USD/ZAR pair for the December 12th session. USD/ZAR — The market has been making lower highs and trading inside this descending triangle pattern. Initially, the session was bullish on Tuesday, but then the market rolled over. This pair is being driven by risk appetite at the moment. If the risk-on sentiment to dominate the market, then the greenback will depreciate against the commodity currencies and the risk […]

What Is Support and Resistance in Forex Trading?

This video is for beginners. In this video, you will learn about support and resistance in forex trading. Support and resistance levels represent the most basic concept in price action analysis in forex trading. A support level prevents price from falling further and indicates the presence of more buyers than sellers. There is more demand than supply in the market. A support level is identified as a level below the current market price. […]

What Is Trend Reversal in Forex Trading?

In this video, you will learn about trend reversal in forex trading. You look for a trend reversal, when an existing trend starts showing signs of weakness. The idea is to catch a trade early before the reversal starts taking place. Consider an uptrend for example. It consists of higher lows and higher highs. You look for a reversal pattern such as the head and shoulders pattern on the top of an uptrend. You look for the break of the neckline to enter […]

Bitcoin Forecast — December 11th 2019

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the December 11th session. Bitcoin/USD — The market is falling towards the $7,000 level and looks bearish at the moment. Also, the measured objective of this descending triangle pattern is the $5,000 level. The 50-day EMA is moving down and looks likely to cross below the 200-day EMA. So, fade rallies, and sell them on signs of exhaustion.

EUR/USD and GBP/USD Forecast — December 11th 2019

In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the December 11th session. EUR/USD — The trading session was slightly bullish for the euro. However, the 1.11 level is seen as the beginning of the supply zone. However, the market could remain range bound within this large downtrend. So, look for signs of exhaustion, and sell those rallies. A break below the 1.10 level is very bearish and then you can […]