Many traders enter the trading arena with no clues on how they’re going to navigate it. They simply buy and sell when they feel like it which is a recipe for disaster. A trading plan on the other hand will guide you to making sound decisions while trading. And that is precisely what a trading […]
How often have you heard Support and Resistance in the world of trading? Those terms are used freely and what exactly is it all about? This article will illustrate to you what support and resistance are and the myth behind them. Support Support can be thought of as a floor. You are able to stand on […]
On EURGBP daily chart, we see previous resistance turned support at 0.8580 area. Furthermore price formed a pinbar with a long tailed wick signalling strong buying interest. I would prefer the pinbar to close bullish but nonetheless it’s a valid setup. Potential target would be the 0.8750 area. The next chart is Silver. Below is […]
If you are a day trader or aspiring to be one, then this article will open up your eyes regarding the different forex trading hours. We do know they are open 24 hours a day from Monday to Friday. But what is seldom discussed is the volatility during the different hours which in turn affects the performance […]
How often have you heard of traders blowing up their trading account? Or how they seem to make huge profits only to give them back twice as fast. Are you one of those traders? In this article, I share with you 2 rules I adhere to. If you can follow it religiously, I can assure that you […]
Forex trading usually requires a broker for retail accounts and here are 3 things that your forex broker doesn’t want you to know. Leverage You see forex brokers offering leverage like nobody’s business. The highest i saw was 1 to 400. Seriously, if anyone goes with the broker that offers the highest leverage, you’re better […]
This pair has been in a downtrend on the weekly charts. Looking at H4, i see an opportunity to short near the resistance of the channel with stops above the recent swing high.