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 […]
…(and a brief discussion about Fibaoncci retracements for binary options trading) I would like to cover a recent spot forex trade that I took and one that I happen to currently be in at the very moment. As I mentioned in my first spot forex trading article, I rely on Fibonacci retracements heavily in FX trading. […]
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 […]
I think it is a given that most free binary options signal service providers are really an affiliate marketing scheme. There really is no other reason for an SSP to provide free signals unless they want you to buy something, sign up with one of their recommended brokers or harass your friends into joining. Websites […]
Support and resistance are words that get tossed around a lot, and traders and analysts will mark up their charts with all sorts of supposed support and resistance levels, but most of these levels really have minimal impact on the price. Understanding what an important support or resistance level is can help you isolate better […]
The following ABC trading strategy isolates turning points, as well as gets you into trending trades. The trade setup is quite simple, yet highly effective, and with a little practice you’ll see the pattern often. It can be used on any time frame, and takes advantage of the natural tendency of markets to move in […]
Just a couple trades today during the early US session. There was a lot more opportunity but there is always another day. With it being an FOMC day, as the day progresses toward the announcement volatility usually tapers off and then explodes after the announcement. Therefore, I prefer to get in early on a couple […]