This article was originally contributed by the archived community member Mifune. We no longer maintain contact details for the original author. The content has been fact-checked and updated for accuracy by our editorial team. Those familiar with my blog here know that I tend to pretty much always stick with an overarching trading strategy centered […]
USDCAD: heading for a Bearish Reversal into 2014 2013 saw the USDCAD currency pair soaring over 900 pips. Will bulls continue charging into 2014? Maybe not, as we think there is a good chance this pair is heading for a bearish reversal. The chart below paints the USDCAD MT4 daily chart, using Ichimoku analysis, with […]
It was a few hours into the London session before a strong trend began. That is way I prefer not to range trade in the EUR/USD. There is a high likelihood that the range won’t last very long, and what many traders view as ranges are just consolidations in a longer-term term trend (not always, […]
By creating your own strategies you will have a much better idea about how your strategies work, compared to if you just use someone else’s. You’ll know when your strategy works and when it doesn’t, which means you’re better able to filter trades and capitalize on good opportunities. Most of all, creating your own strategies […]
Triangles are one of my favorite patterns; they are easy to spot, and even using a very basic approach (as outlined in Trend Continuation Patterns) can provide excellent trades. The basic strategy is to draw the outline of the triangle around the price (when the pattern occurs), and then wait for a breakout. There are […]
A common trading problem is that if you wait too long to enter a trade–until everything looks perfect–the trend is likely almost over. Yet, if you try to anticipate changes in direction you’ll likely be too early and thus sustain losses before the market turns in your favor. If Goldilocks were a trader, she wouldn’t […]
Expected a quiet day today amidst holiday trading, but it ended up being anything but. An early rally triggered multiple stop loss order above former highs on the longer-term term charts, creating a strong rip higher followed by a slower but equally spectacular drop. Throughout the London and early-US session there were a number of […]
One of the most high probability trades occurs when a strong reversal is in effect. Few people are even aware the trend has changed direction, but as they realize it, it often creates another strong surge in price. If you know what to look for, you can get in before the crowd and ride the […]
This article was originally contributed by the archived community member Mifune. We no longer maintain contact details for the original author. The content has been fact-checked and updated for accuracy by our editorial team. …(and a brief discussion about Fibonacci retracements for binary options trading) I would like to cover a recent spot Forex trade […]
Trying to pick tops and bottoms is taboo in the financial industry. News anchors, columnists and even many text books tell you not to do it. I agree and disagree. The reason picking tops and bottoms can be dangerous is that often there isn’t any sort of strategy; the trader just “thinks” a top or […]