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If You Want to Use Candlestick Charts You Should Know This

How to Recognize Forex Trends in a Second

In this video, you will look at a forex strategy that makes it easy for beginner forex traders to recognize trends and counter trends quickly. There is an old saying, the trend is your friend. If you can recognize trends on your chart, you can capture good price movements in the market and maximize on profit, thereby maintaining a good risk to reward ratio on your trades. On your MetaTrader platform, click […]

Candlestick Pattern — Bearish Engulfing Formation

In this video, you will learn about the bearish engulfing pattern. This is a bearish reversal pattern, observed at the top of an existing uptrend. This pattern becomes highly probable when played with confluence like overbought conditions and key resistance level. The first candlestick in this pattern is a green or a bullish candlestick. The next candlestick opens higher and turns downwards due to selling pressure and closes completely engulfing the body of the previous […]

Daily Market Roundup — October 18th 2018

The US dollar is appreciating at the moment. The EUR/USD pair is showing bearish sentiment. It has broken the 1.15 level. The resistance levels are 1.1566, 1.1633, and 1.1659. The support levels are 1.1541, 1.1515, and 1.1480. The USD/JPY pair was trying to gain ground, but it looks like the bulls have ran out of steam to reach the 112.83 level. The GBP/USD is showing bearish sentiment and it is largely influenced […]

Candlestick Pattern — Piercing Pattern

In this video, you will learn about the piercing pattern. This is a bullish reversal pattern. You spot this pattern at the end of a downtrend. It is good to use this pattern with confluence, using an oversold condition. The first candlestick in this pattern is a red candlestick. Then the next candlestick gaps lower and closes as a green candlestick. It closes covering the 50% of the body of the previous candlestick. This is a reliable […]

Daily Market Roundup — October 17th 2018

The pound is looking bullish and the yen is looking bearish today. For the EUR/USD pair, the 1.16 level is resistance and the 1.15 level is support. The resistance levels are 1.1566, 1.1633, and 1.1659. The support levels are 1.1541, 1.1515, and 1.1480. The USD/JPY pair broke out of the descending price channel. The resistance levels are 112.83, 113.56, and 114.18. The support levels are 111.94, 111.66, and 111.43. Though the pound got sold off […]

Candlestick Pattern — Dark Cloud Bearish Reversal

In this video, you will learn about the dark cloud cover pattern. This is a bearish reversal pattern. It is good to trade with a confluence of other factors such as a key resistance level, overbought conditions, and when the top of a consolidation zone. The first candlestick is the green candlestick. The following candlestick opens bullish, but bears take control, and push the price down. Now, this candlestick closes covering the 50% […]

Daily Market Roundup — October 16th 2018

The Japanese yen is looking bearish. The greenback is going through a recovery. For the EUR/USD pair, the 1.15 level looks supportive and the resistance is at 1.16. The resistance levels are 1.1633, 1.1659, and 1.1697. The support levels are 1.1541, 1.1515, and 1.1480. The USD/JPY pair is trading in a descending price channel. The resistance levels are 112.83, 113.56, and 114.18. The support levels are 111.66, 111.43, and 111.31. The GBP/USD pair is slightly bullish […]

The Best MACD Indicator for Trade Entry

In this video, you will learn about a forex trading strategy using the 2-line MACD indicator. If you are interested in using this indicator, you can find this indicator on the forex factory web site. With this strategy, you locate the trend using the daily chart. As you can see, the market is in an uptrend. Then, you can look for the 4-hour chart for any signal. But if you […]

Daily Market Roundup — October 15th 2018

The demand for the risk currencies is low at the moment. The EUR/USD pair looks bearish today and the 1.1514 level looks supportive. The resistance levels are 1.1594, 1.1633, and 1.1659. The support levels are 1.1515, 1.1480, and 1.1444. The USD/JPY pair is consolidating and has fallen a bit. The resistance levels are 112.83, 113.56, and 114.18. The support levels are 111.66, 111.43, and 111.31. The GBP/USD opened this week with a gap and is trading below […]

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