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Pivot Points for Beginners — Quick and Clear Explanation

Pivot points are used for determining support and resistance levels in technical analysis. So, they can tell you the direction of the trend. Pivot points are calculated using the previous day's high, low, and close to determine the current support and resistance levels. So, you get a pivot point level, support levels S1 and S2, and resistance levels R1 and R2. Your trading platform like the MetaTrader automatically does the calculations for you. […]

Elliott Wave Theory | Introduction | Lesson 8

This is part 8 of the series. In this video, you will learn about Elliott Wave Theory. Traders use this theory in technical analysis to analyze price action in the form of waves. A trend can be divided into two main sections. They are an impulse movement and a correction. The impulse moves are represented by price moves in the direction of the main trend. The correction moves are waves moving in the opposite direction. The impulse […]

Forex Candlesticks Tutorial | Volume Indicators — Lesson 7

This is part 7 of the series. In this video, you will learn about the volume indicators. Here are some of the volume indicators. Volumes: This indicator is used for identifying the change of trend. This indicator is represented as a histogram against each candlestick. You can observe divergence when the price rises, but the volume declines. This indicates a potential reversal. Money Flow Index (MFI): This indicator shows […]

Forex Candlesticks Tutorial | Oscilliators — Lesson 6

This is part 6 of the series. In this video, you will learn about oscillators. Oscillators are a type of indicators that measure overbought and oversold conditions. When price becomes overbought, you can expect a correction to happen in the market. Similarly, when the price stretches too far from the normal range in a downtrend, then the market is considered oversold. Here are some of the important oscillators. Stochastic: The stochastic oscillator is […]

Forex Candlesticks Tutorial | Trend Technical Indicators. — Lesson 5

This is part 5 of the series. In this video, you will learn about the importance of technical indicators in forex trading. Most indicators are available free for you on you MetaTrader platform. These indicators help you identify potential entry points in the market. It could be a trend based setup or an overbought condition. Technical indicators can be classified into three types. Trend based indicators help you […]

Forex Candlesticks Tutorial | The Flag and Pennant Patterns — Lesson 4.1

This is part 4.1 of the series. In this video, you will learn about the flag and pennant patterns. Flag and pennant patterns represent the continuation of an existing trend. You have a flat and slightly inclined forms for the flag pattern. For a bullish flag pattern, the market starts with an uptrend, and then it enters into a brief period of consolidation. It finally breaks out of the flag and continues to the upside. The measured objective of this pattern can […]

Forex Candlesticks Tutorial | The Double Top & Head and Shoulders Pattern — Lesson 4

This is part 4 of the series. In this video, you will learn about the double top and the head and the shoulders pattern. The opposite of these patterns are the double bottom and the inverse head and shoulders pattern. The double top pattern occurs when the price is met with strong resistance forming two consecutive highs. You can use the confirmation when the price breaks the neckline and a reduction in volume. This is a bearish reversal […]

Forex Candlesticks Tutorial | Triple Candlestick Patterns — Lesson 3.2

This is part 3.2 of the series. The triple candlestick pattern consists of three candlesticks and can be used for both the reversal and continuation. Here are some of the configurations. Morning star / Evening star: The morning star is a bullish reversal pattern. It is followed by a doji candle. It is then followed by a big bullish candlestick. The opposite is the evening star pattern. Tri-Star: For a bearish reversal pattern, it consists […]

Forex Candlesticks Tutorial | Double Candlestick Patterns — Lesson 3.1

This is part 3.1 of the series. In this video, you will learn about double candlestick pattern. This pattern consists of two candlesticks indicating a reversal. Here are some of these patterns. Absorption: The first one is a bullish candlestick. It is followed by a bearish candlestick with its body more than the 50% of the first one. This is a bearish reversal pattern. The opposite of this is the bullish reversal […]

Forex Candlesticks Tutorial | Single Candlestick Patterns — Lesson 3

This is part 3 of the series. In this video, you will learn about single candlestick pattern. You can use this pattern to identify potential reversals in the market and look for trading opportunities. This pattern consists of a single candlestick. Some examples, include, hammer, shooting star, spinning top, and inverted hammer. You can also use this pattern for trend continuation. A hammer candlestick consists of a short body and a long […]

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