Everyone thinks forex traders live in luxury 24/7. The truth? Many of us are grinding, studying charts, and risking money daily. It’s not always Lambos and yachts, but the hard work is worth it if you’re committed! 📊💪 #ForexLife

Everyone thinks forex traders live in luxury 24/7. The truth? Many of us are grinding, studying charts, and risking money daily. It’s not always Lambos and yachts, but the hard work is worth it if you’re committed! 📊💪 #ForexLife

Asian equity markets: Japan’s Nikkei 225 +0.3% China’s Shanghai Composite +0.2% Hong Kong’s Hang Seng +0.6% South Korea’s KOSPI -0.4% Australia’s S&P/ASX 200 +0.25%

Asian equity markets: Japan’s Nikkei 225 +0.3% China’s Shanghai Composite +0.2% Hong Kong’s Hang Seng +0.6% South Korea’s KOSPI -0.4% Australia’s S&P/ASX 200 +0.25%

When you're in a calm trade and the market decides to go wild 😂

When you're in a calm trade and the market decides to go wild 😂

No matter what, don’t let emotions derail your trading plan. Even if you see others making money on different strategies, stick to what you know and trust. Consistency is what builds profits in the long run! 📈 #forexstrategy

No matter what, don’t let emotions derail your trading plan. Even if you see others making money on different strategies, stick to what you know and trust. Consistency is what builds profits in the long run! 📈 #forexstrategy

Moving Averages are by far the most widely used and easy to understand forex indicator. They display right on top of your chart and mechanics are very easy to understand – a moving average or MA – is quite simply the average price over a given period. This is one of the more common Moving Averages – SMA100 – the Simple Moving Average of the close price for the last 100 bars. We have placed the SMA100 over the GBP/USD forex pair on a 4 hour chart. The simplest form of MA analysis is checking where price is in relation to the MA – is price above the 100SMA? Look to buy. Is price below? Look to sell. That is, when GBP/USD is above the 100SMA, we will look to buy lows, when it below the 100SMA, we will look to sell highs: As you can see, this is quite a reliable strategy at first glance – all the marked highs below the SMA lead to substantial declines and all the marked lows above the SMA lead to substantial bounces. Realistically though, this image was created with the benefit of hindsight – a live forex trader may well have bought the final touch of the 100 SMA: Even so, GBP/USD did appreciate 75 pips before eventually breaking lower – Our hypothetical trader could have taken profit, moved his stop loss to break-even or, lost a small amount when pair breached the SMA. Let’s say the trader lost on this one, but 7 wins out of 8 trades is still extremely impressive! You will rarely see a moving average in isolation like this, most traders will use a combination of a ‘fast’ and ‘slow’ moving average. We go into more detail on moving average trading in the next section.

Moving Averages are by far the most widely used and easy to understand forex indicator. They display right on top of your chart and mechanics are very easy to understand – a moving average or MA – is quite simply the average price over a given period. This is one of the more common Moving Averages – SMA100 – the Simple Moving Average of the close price for the last 100 bars. We have placed the SMA100 over the GBP/USD forex pair on a 4 hour chart. The simplest form of MA analysis is checking where price is in relation to the MA – is price above the 100SMA? Look to buy. Is price below? Look to sell. That is, when GBP/USD is above the 100SMA, we will look to buy lows, when it below the 100SMA, we will look to sell highs: As you can see, this is quite a reliable strategy at first glance – all the marked highs below the SMA lead to substantial declines and all the marked lows above the SMA lead to substantial bounces. Realistically though, this image was created with the benefit of hindsight – a live forex trader may well have bought the final touch of the 100 SMA: Even so, GBP/USD did appreciate 75 pips before eventually breaking lower – Our hypothetical trader could have taken profit, moved his stop loss to break-even or, lost a small amount when pair breached the SMA. Let’s say the trader lost on this one, but 7 wins out of 8 trades is still extremely impressive! You will rarely see a moving average in isolation like this, most traders will use a combination of a ‘fast’ and ‘slow’ moving average. We go into more detail on moving average trading in the next section.

We have previously discussed Price Action or Naked trading – not for you? In this chapter we are going to discuss the alternative, trading while wearing your pants… Just kidding! Of course we’re talking about using indicators. Indicators analyse price action for you and give clear entry and exit signals. We will cover some of the more popular indicators and discuss how you can apply them to your trading. Just be aware that no indicator is perfect. Many traders will filter “bad” signals by only taking signals in the direction of the trend ie only taking sell signals in a down trend and vice versa. More on this later – first we will discuss the most popular and widely used indicator: The Moving Average.

We have previously discussed Price Action or Naked trading – not for you? In this chapter we are going to discuss the alternative, trading while wearing your pants… Just kidding! Of course we’re talking about using indicators. Indicators analyse price action for you and give clear entry and exit signals. We will cover some of the more popular indicators and discuss how you can apply them to your trading. Just be aware that no indicator is perfect. Many traders will filter “bad” signals by only taking signals in the direction of the trend ie only taking sell signals in a down trend and vice versa. More on this later – first we will discuss the most popular and widely used indicator: The Moving Average.

In Forex trading, support and resistance refers to levels where price is likely to pause, bounce or even reverse. Support is a lower price point or zone where the currency pair is considered ‘cheap’, spurning buying interest. Resistance is an upper price point or zone where the pair is considered ‘expensive’ and is likely to encounter sellers: In the above example, the Australian Dollar is finding buyers around 7150, but encountering strong selling interest above 7250 – note pair spikes above 7250 resistance five times, but is unable to close above there. It is also worth noting that when there’s an hourly close below 7150 support, pair is then unable to close back above the level – former support is now acting as resistance: This is a fairly common occurrence in Forex trading – levels that previously encouraged buying interest will nearly always encourage selling interest after they break down (and vice versa). You’ve heard the old saying “Buy Low, Sell High”? Forex traders look to sell into resistance and buy into support, this leads to higher probability setups, allows the trader to set tight stops and leaves plenty of room for rewarding trades. Now we’ve had a look a horizontal support and resistance, let’s take a quick look at trend resistance and support: This is the trend line that supported USDJPY from September 2012 – January 2016. Note pair finds buying interest whenever price nears trend support. Here we have the recent down trend in GBPUSD, note pair is unable to close the week above trend line resistance and eventually turns lower. Remember: If you want high probability, rewarding setups – Buy low, sell high – buy into support, sell into resistance.

In Forex trading, support and resistance refers to levels where price is likely to pause, bounce or even reverse. Support is a lower price point or zone where the currency pair is considered ‘cheap’, spurning buying interest. Resistance is an upper price point or zone where the pair is considered ‘expensive’ and is likely to encounter sellers: In the above example, the Australian Dollar is finding buyers around 7150, but encountering strong selling interest above 7250 – note pair spikes above 7250 resistance five times, but is unable to close above there. It is also worth noting that when there’s an hourly close below 7150 support, pair is then unable to close back above the level – former support is now acting as resistance: This is a fairly common occurrence in Forex trading – levels that previously encouraged buying interest will nearly always encourage selling interest after they break down (and vice versa). You’ve heard the old saying “Buy Low, Sell High”? Forex traders look to sell into resistance and buy into support, this leads to higher probability setups, allows the trader to set tight stops and leaves plenty of room for rewarding trades. Now we’ve had a look a horizontal support and resistance, let’s take a quick look at trend resistance and support: This is the trend line that supported USDJPY from September 2012 – January 2016. Note pair finds buying interest whenever price nears trend support. Here we have the recent down trend in GBPUSD, note pair is unable to close the week above trend line resistance and eventually turns lower. Remember: If you want high probability, rewarding setups – Buy low, sell high – buy into support, sell into resistance.

Ascending Triangle – Bullish Continuation Pattern: The Ascending Triangle is one of the most reliable bullish continuation or accumulation patterns. It is characterized by a series of higher lows failing at a flat top – this means it is a ‘terminal’ pattern – eventually price will have to stop carving higher lows, or more often than not, the top will have to break. Just like the reversal patterns discussed in the previous section, the buy signal occurs when the top breaks and the pattern is confirmed. Descending Triangle – Bearish Continuation Pattern: The Descending Triangle on the other hand, is a very reliable bearish continuation pattern. The pattern is characterized by a series of lower highs meeting a flat bottom. Traders will enter short when the flat bottom is taken out. As we discussed in the Trend Trading section, price can decline quite quickly in a bear market – these patterns often yield impressive moves lower. Bull Flag – Bullish Continuation Pattern: Bull Flags or Pennants are an extremely reliable bullish continuation pattern. They are deceptive to the novice trader as price is temporarily trending down, but at a relatively shallow pace. Bull flags are characterized by a series of parallel lower highs and lower lows within a dominant uptrend: A buy signal is triggered when the upper parallel is breached. Bear Flag – Bearish Continuation Pattern: The last continuation pattern we will look at is the Bear Flag. The opposite of the Bull Flag, characterized by a series of parallel higher lows and higher highs within a dominant down trend: Traders will look to enter short once the lower parallel breaks. Just like the Descending Triangle, these patterns can lead to some fierce bearish continuation – in this case, GBPUSD declines over 800 pips in less than a month. The Take Away: Chart patterns are often high probability, high reward trades that offer the trade clear entry and stop loss levels. Patterns are confirmed when the relevant line breaks – not before – wait for the breakout.

Ascending Triangle – Bullish Continuation Pattern: The Ascending Triangle is one of the most reliable bullish continuation or accumulation patterns. It is characterized by a series of higher lows failing at a flat top – this means it is a ‘terminal’ pattern – eventually price will have to stop carving higher lows, or more often than not, the top will have to break. Just like the reversal patterns discussed in the previous section, the buy signal occurs when the top breaks and the pattern is confirmed. Descending Triangle – Bearish Continuation Pattern: The Descending Triangle on the other hand, is a very reliable bearish continuation pattern. The pattern is characterized by a series of lower highs meeting a flat bottom. Traders will enter short when the flat bottom is taken out. As we discussed in the Trend Trading section, price can decline quite quickly in a bear market – these patterns often yield impressive moves lower. Bull Flag – Bullish Continuation Pattern: Bull Flags or Pennants are an extremely reliable bullish continuation pattern. They are deceptive to the novice trader as price is temporarily trending down, but at a relatively shallow pace. Bull flags are characterized by a series of parallel lower highs and lower lows within a dominant uptrend: A buy signal is triggered when the upper parallel is breached. Bear Flag – Bearish Continuation Pattern: The last continuation pattern we will look at is the Bear Flag. The opposite of the Bull Flag, characterized by a series of parallel higher lows and higher highs within a dominant down trend: Traders will look to enter short once the lower parallel breaks. Just like the Descending Triangle, these patterns can lead to some fierce bearish continuation – in this case, GBPUSD declines over 800 pips in less than a month. The Take Away: Chart patterns are often high probability, high reward trades that offer the trade clear entry and stop loss levels. Patterns are confirmed when the relevant line breaks – not before – wait for the breakout.

In this section we will cover chart patterns, these are patterns that are comprised of many candles and take considerably more time to form. Once again, there are multitudes of chart patterns to draw up on your MT4 platform, so we will try to only cover the more common and reliable patterns. Head and Shoulders – Bearish Reversal Pattern This is by far one of the most common and easy to recognise chart patterns, it is also the most reliable. Forex traders love these patterns for both their reliability and the fact they offer clear entry and stop loss levels: These patterns have four components: Left Shoulder – small rounded top. Pattern is not yet visible Head – Pair breaks above the left shoulder before retracing 100%, or the majority of the ascent – potential pattern visible to the keen eyed chart trader Right Shoulder – pair forms a lower high to the right of the head, usually similar magnitude to left shoulder, but variance is not uncommon. Head and Shoulders top is now clearly visible. Neckline – Though the chart pattern is now clearly visible, it is not a confirmed top until there is a break below the neckline. The Neckline connects the lows of the left and right shoulders. This is often a straight line, though in the above example it is ascending – patterns with ascending necklines are even more reliable than the standard, flat neckline Head and houlders. Once price breaches the neckline, the trader enters short. Stop can be placed above the right shoulder, or above the head (depending on your risk tolerance). Note that price often comes back to test the underside of the neckline – this can be very handy if you’ve missed the original break and reinforces bearish bias. In this example, once price breaches the neckline, there is a ecline of over 100 pips. Deformed Head & Shoulders – the above example was very clean, though some times, these patterns can exhibit ‘deformities’ such as dual or multiple right shoulders, descending neck lines or shoulders that exceed the top. Cleaner patters tend to be more reliable, though the key to a successful trade is always waiting til the pattern is confirmed ie the Neckline breaks. Here are some examples of the above deformities: Head and Shoulders patterns are extremely reliable and offer the trader clear entry and exit points, but always remember – the setup is not confirmed until the neckline is breached. Inverse Head and Shoulders – Bullish Reversal Pattern As the name suggests, these patterns are identical to a standard Head and Shoulders, but appear upside down (on their heads) and signify a potential bottom. Not quite as reliable as the standard H&S, but still a very reliable pattern. These patterns are often more difficult to spot than their bearish counterparts, but recognition becomes easier as you gain charting experience. Once again, the key here is waiting til the neckline is breached. Double Top – Bearish Reversal Pattern The Double Top or ‘M’, is another reliable chart pattern favoured by many traders. Like the H&S, it offers the trader clear entry and stop loss levels. With the Double Top, the entry trigger is known as the Confirmation Line: The Double Top is characterized by two tops of similar magnitudes, originating from roughly the same point. The Confirmation Line connects the two origin points and tends to be flat or ascending at a slight gradient. Just like the H&S, the trader does not enter short until the Confirmation Line is breached and the top is confirmed. Note the two tops often take the shape of H&S or smaller double top patterns (this M features the two H&S examples from earlier). Double Bottom – Bullish Reversal Pattern The Double Bottom or ‘W’ is the inverse of the Double Top – it’s shape is reminiscent of the letter ‘W’ and the pattern signals a potential bottom. As with the other reversal patterns we’ve covered, the trader waits until the Confirmation Line is breached before entering a Buy position.

In this section we will cover chart patterns, these are patterns that are comprised of many candles and take considerably more time to form. Once again, there are multitudes of chart patterns to draw up on your MT4 platform, so we will try to only cover the more common and reliable patterns. Head and Shoulders – Bearish Reversal Pattern This is by far one of the most common and easy to recognise chart patterns, it is also the most reliable. Forex traders love these patterns for both their reliability and the fact they offer clear entry and stop loss levels: These patterns have four components: Left Shoulder – small rounded top. Pattern is not yet visible Head – Pair breaks above the left shoulder before retracing 100%, or the majority of the ascent – potential pattern visible to the keen eyed chart trader Right Shoulder – pair forms a lower high to the right of the head, usually similar magnitude to left shoulder, but variance is not uncommon. Head and Shoulders top is now clearly visible. Neckline – Though the chart pattern is now clearly visible, it is not a confirmed top until there is a break below the neckline. The Neckline connects the lows of the left and right shoulders. This is often a straight line, though in the above example it is ascending – patterns with ascending necklines are even more reliable than the standard, flat neckline Head and houlders. Once price breaches the neckline, the trader enters short. Stop can be placed above the right shoulder, or above the head (depending on your risk tolerance). Note that price often comes back to test the underside of the neckline – this can be very handy if you’ve missed the original break and reinforces bearish bias. In this example, once price breaches the neckline, there is a ecline of over 100 pips. Deformed Head & Shoulders – the above example was very clean, though some times, these patterns can exhibit ‘deformities’ such as dual or multiple right shoulders, descending neck lines or shoulders that exceed the top. Cleaner patters tend to be more reliable, though the key to a successful trade is always waiting til the pattern is confirmed ie the Neckline breaks. Here are some examples of the above deformities: Head and Shoulders patterns are extremely reliable and offer the trader clear entry and exit points, but always remember – the setup is not confirmed until the neckline is breached. Inverse Head and Shoulders – Bullish Reversal Pattern As the name suggests, these patterns are identical to a standard Head and Shoulders, but appear upside down (on their heads) and signify a potential bottom. Not quite as reliable as the standard H&S, but still a very reliable pattern. These patterns are often more difficult to spot than their bearish counterparts, but recognition becomes easier as you gain charting experience. Once again, the key here is waiting til the neckline is breached. Double Top – Bearish Reversal Pattern The Double Top or ‘M’, is another reliable chart pattern favoured by many traders. Like the H&S, it offers the trader clear entry and stop loss levels. With the Double Top, the entry trigger is known as the Confirmation Line: The Double Top is characterized by two tops of similar magnitudes, originating from roughly the same point. The Confirmation Line connects the two origin points and tends to be flat or ascending at a slight gradient. Just like the H&S, the trader does not enter short until the Confirmation Line is breached and the top is confirmed. Note the two tops often take the shape of H&S or smaller double top patterns (this M features the two H&S examples from earlier). Double Bottom – Bullish Reversal Pattern The Double Bottom or ‘W’ is the inverse of the Double Top – it’s shape is reminiscent of the letter ‘W’ and the pattern signals a potential bottom. As with the other reversal patterns we’ve covered, the trader waits until the Confirmation Line is breached before entering a Buy position.

What is a Candle? Candle Patterns In this section we’re going to take a look at trading off forex candles on your MT4 charts. There are many different forex candle patterns – we’ll have a look at some of the more common and reliable ones here. Candle patterns often indicate a turning point or reversal in the forex market, so we’ll break this section up into ‘Bearish Reversal Candles’ and ‘Bullish Reversal Candles’. Bearish Reversal Candles Shooting Star: The Shooting Star is a single candle bearish reversal pattern that occurs at the end of an uptrend. Price initially moves higher, before eventually closing near the open, leaving a long wick with a short body. Wick should be at least 1.5x the length of the body. Note in the above example, this forex candle leads to a decline of nearly 1000 pips in less than two weeks. Bearish Engulfing: The Bearish Engulfing is one of the more common bearish reversal and continuation patterns. The candle will close lower, with a body that completely engulfs the body of the relatively smaller previous candle. Note this candle continues to occur frequently throughout the down trend, signalling continuation (we have only circled two which occur at peaks). Hanging Man: The Hanging Man is another relatively common bearish reversal candle that occurs at peaks. Price will move signifcantly lower at the start of the perioid but will come back to finish near the open, leaving a long wick and small body (simmilar to the Shooting Star, but the wick is below the candle not above). If this forex candle occurs in the lows of a down trend it is a bullish candle known as a hammer. Bullish Reversal Candles Bullish Hammer: The Bullish Hammer is a common reversal pattern that looks identical to the Hanging Man candle but occurs in the bottoms of down trends. Price will move signifcantly lower at the start of the perioid but will come back to finish near the open, leaving a long wick and small body. Note in this example, the following candle actually breaches the Hammer’s low – forex traders should always set their stop a reasonable distance from any reversal candle. Bullish Engulfing: The Bullish Engulfing is identical to the Bearish Engulfing but it is an up candle occuring at the end of a down trend. The body of the new candle will completely engulf the previous candles body signalling a major shift in sentiment. These are just a few of the more common forex candle patterns with high success rates. Remember some candles appear identical so you have to then determine whether the candle is appearing at a peak in an advance (Hanging Man) or at a trough in a decline (Bullish Hammer)? Don’t forget to set your stops a safe distance from the relevant candle’s high/low – though many reversals are immediate, there is some times noise which you should adjust for.

What is a Candle? Candle Patterns In this section we’re going to take a look at trading off forex candles on your MT4 charts. There are many different forex candle patterns – we’ll have a look at some of the more common and reliable ones here. Candle patterns often indicate a turning point or reversal in the forex market, so we’ll break this section up into ‘Bearish Reversal Candles’ and ‘Bullish Reversal Candles’. Bearish Reversal Candles Shooting Star: The Shooting Star is a single candle bearish reversal pattern that occurs at the end of an uptrend. Price initially moves higher, before eventually closing near the open, leaving a long wick with a short body. Wick should be at least 1.5x the length of the body. Note in the above example, this forex candle leads to a decline of nearly 1000 pips in less than two weeks. Bearish Engulfing: The Bearish Engulfing is one of the more common bearish reversal and continuation patterns. The candle will close lower, with a body that completely engulfs the body of the relatively smaller previous candle. Note this candle continues to occur frequently throughout the down trend, signalling continuation (we have only circled two which occur at peaks). Hanging Man: The Hanging Man is another relatively common bearish reversal candle that occurs at peaks. Price will move signifcantly lower at the start of the perioid but will come back to finish near the open, leaving a long wick and small body (simmilar to the Shooting Star, but the wick is below the candle not above). If this forex candle occurs in the lows of a down trend it is a bullish candle known as a hammer. Bullish Reversal Candles Bullish Hammer: The Bullish Hammer is a common reversal pattern that looks identical to the Hanging Man candle but occurs in the bottoms of down trends. Price will move signifcantly lower at the start of the perioid but will come back to finish near the open, leaving a long wick and small body. Note in this example, the following candle actually breaches the Hammer’s low – forex traders should always set their stop a reasonable distance from any reversal candle. Bullish Engulfing: The Bullish Engulfing is identical to the Bearish Engulfing but it is an up candle occuring at the end of a down trend. The body of the new candle will completely engulf the previous candles body signalling a major shift in sentiment. These are just a few of the more common forex candle patterns with high success rates. Remember some candles appear identical so you have to then determine whether the candle is appearing at a peak in an advance (Hanging Man) or at a trough in a decline (Bullish Hammer)? Don’t forget to set your stops a safe distance from the relevant candle’s high/low – though many reversals are immediate, there is some times noise which you should adjust for.

🔸Hello traders, let's review the daily chart for USDCAD today. Trading near premium prices of the multiyear range, established in 2023. Currently risk/reward is shifting in bears favor, so it's recommended to look for sell side setups in this market. 🔸Range highs set at 3800, premium prices overhead at 3880 3960 range lows set at 3300 and premium prices below at 3140 3240 current bid is 3885. 🔸Recommended strategy for USDCAD traders: focus on short selling any rips/rallies near market price. price is currently trading near premium levels and is maxed out already, limited upside. TP1 bears +250 TP2 bears +500 pips keep in mind this is a swing trade setup so naturally will take more time to complete / hit both targets. good luck traders! 🎁Please hit the like button and 🎁Leave a comment to support me and my team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.

🔸Hello traders, let's review the daily chart for USDCAD today. Trading near premium prices of the multiyear range, established in 2023. Currently risk/reward is shifting in bears favor, so it's recommended to look for sell side setups in this market. 🔸Range highs set at 3800, premium prices overhead at 3880 3960 range lows set at 3300 and premium prices below at 3140 3240 current bid is 3885. 🔸Recommended strategy for USDCAD traders: focus on short selling any rips/rallies near market price. price is currently trading near premium levels and is maxed out already, limited upside. TP1 bears +250 TP2 bears +500 pips keep in mind this is a swing trade setup so naturally will take more time to complete / hit both targets. good luck traders! 🎁Please hit the like button and 🎁Leave a comment to support me and my team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.

Forex traders use charts to determine market direction and identify possible buying and selling opportunities. There are three types of charts commonly used in forex that you can flick between on MT4: Line chart; Bar chart; Candlestick chart. Line Chart: These charts are handy for quickly determining the trend – only the current/close price is graphed – as such these charts should not be used for placing stop loss or take profit orders. Bar Chart: The chart is created with the use of bars where each bar has a high (top) and a low (bottom) with a line on either side; right side being the opening price and the left side being the closing price for the selected time period Different colours can be used to identify bars that close higher than the open (bull or up bars) or lower than the open (bear or down bars). The example above has green lines for up bars and red bars for down bars. These charts show all the information you need but most traders and analysts tend to favour the third option – Candlestick charts. Candlestick Chart: This chart is created much like bar charts, with the only difference being that candlesticks add dimension and colour to the Bar Chart by depicting the area of the bar between the open and close as a two dimensional real body. Candlesticks are comprised of a body which represents the difference between the open and close prices. An up candlestick occurs when the close is higher than the open – and down candlesticks occurs when the close is lower than the high. In the chart example above, up candlesticks are green whilst down candlesticks are red. If the open is equal to the close there will not be a body, just a line – this type of candle is referred to as a “Doji”. The thinner lines extending beyond the body are called ‘Wicks’ – above the body is the high and below the body is the low for the selected time period. A large wick (relative to the body), indicates a potential turning point (support/resistance).

Forex traders use charts to determine market direction and identify possible buying and selling opportunities. There are three types of charts commonly used in forex that you can flick between on MT4: Line chart; Bar chart; Candlestick chart. Line Chart: These charts are handy for quickly determining the trend – only the current/close price is graphed – as such these charts should not be used for placing stop loss or take profit orders. Bar Chart: The chart is created with the use of bars where each bar has a high (top) and a low (bottom) with a line on either side; right side being the opening price and the left side being the closing price for the selected time period Different colours can be used to identify bars that close higher than the open (bull or up bars) or lower than the open (bear or down bars). The example above has green lines for up bars and red bars for down bars. These charts show all the information you need but most traders and analysts tend to favour the third option – Candlestick charts. Candlestick Chart: This chart is created much like bar charts, with the only difference being that candlesticks add dimension and colour to the Bar Chart by depicting the area of the bar between the open and close as a two dimensional real body. Candlesticks are comprised of a body which represents the difference between the open and close prices. An up candlestick occurs when the close is higher than the open – and down candlesticks occurs when the close is lower than the high. In the chart example above, up candlesticks are green whilst down candlesticks are red. If the open is equal to the close there will not be a body, just a line – this type of candle is referred to as a “Doji”. The thinner lines extending beyond the body are called ‘Wicks’ – above the body is the high and below the body is the low for the selected time period. A large wick (relative to the body), indicates a potential turning point (support/resistance).

Hello Traders! 👋 What are your thoughts on EURUSD? After reaching a key support area and trendline, this currency pair has begun a bullish corrective move, as expected. This correction is anticipated to continue up to a specified resistance level, where selling pressure may increase, potentially triggering a new bearish wave. Don’t forget to like and share your thoughts in the comments! ❤️

Hello Traders! 👋 What are your thoughts on EURUSD? After reaching a key support area and trendline, this currency pair has begun a bullish corrective move, as expected. This correction is anticipated to continue up to a specified resistance level, where selling pressure may increase, potentially triggering a new bearish wave. Don’t forget to like and share your thoughts in the comments! ❤️

Technical Analysis is the use of charts, such as those found on the Vantage FX MetaTrader 4 (MT4) platform, to study historical price movement to determine the possible future direction of price. The idea behind technical analysis is that everything you need to know, has been reflected in price. That means that if everything you need to know is in price, then price action is the only thing you need to know or understand to trade. Studying price off charts is very subjective but for the most part, trading off technical analysis is a self-fulfilling prophecy if you will. Humans look for patterns and past signals to try to predict the future. And because everyone starts to look at the same patterns and behaviour, price reacts! Vantage FX allows traders to trade directly off the charts using the most popular online forex trading terminal in the world, MT4. Traders using the Vantage FX MT4 platform are gaining an edge on global forex markets with substantial improvements in execution speed and a transparent price feed across all asset classes.

Technical Analysis is the use of charts, such as those found on the Vantage FX MetaTrader 4 (MT4) platform, to study historical price movement to determine the possible future direction of price. The idea behind technical analysis is that everything you need to know, has been reflected in price. That means that if everything you need to know is in price, then price action is the only thing you need to know or understand to trade. Studying price off charts is very subjective but for the most part, trading off technical analysis is a self-fulfilling prophecy if you will. Humans look for patterns and past signals to try to predict the future. And because everyone starts to look at the same patterns and behaviour, price reacts! Vantage FX allows traders to trade directly off the charts using the most popular online forex trading terminal in the world, MT4. Traders using the Vantage FX MT4 platform are gaining an edge on global forex markets with substantial improvements in execution speed and a transparent price feed across all asset classes.

Precious metal missed out on the powerful “buy everything rally” after markets cheered Trump’s win against Kamala Harris. Gold prices XAUUSD plummeted Wednesday and early Thursday after traders reacted to the news of Donald Trump winning the presidency against Kamala Harris. Strengthening dollar and a rush to risk assets knocked demand for safe-haven gold, pressuring the yellow metal to a four-week low of $2,645 per troy ounce. Gold has lost more than 3.5% over the past two days and is down 5% from its record high set in the final days of October. Risk assets were back in fashion after Trump clinched the victory — US stocks hit a record high with all three major indexes — Dow Jones, S&P 500, Nasdaq — closing at all-time highs. Bitcoin, the original cryptocurrency, also jumped to a record after posting a 9% gain to cross $76,000 per coin and $1.5 trillion in market cap. The US dollar rallied to a four-month high, putting further pressure on gold prices. Gold is seen as a hedge against risk and risk was the last thing traders wanted to run away from. The post-election day was all about Trump’s promises to boost the US economy, jump start the labor market, impose higher tariffs and cut taxes for businesses. All that contributed to a spike in demand for risk assets, simultaneously causing gold to slide further away from its recent peaks.

Precious metal missed out on the powerful “buy everything rally” after markets cheered Trump’s win against Kamala Harris. Gold prices XAUUSD plummeted Wednesday and early Thursday after traders reacted to the news of Donald Trump winning the presidency against Kamala Harris. Strengthening dollar and a rush to risk assets knocked demand for safe-haven gold, pressuring the yellow metal to a four-week low of $2,645 per troy ounce. Gold has lost more than 3.5% over the past two days and is down 5% from its record high set in the final days of October. Risk assets were back in fashion after Trump clinched the victory — US stocks hit a record high with all three major indexes — Dow Jones, S&P 500, Nasdaq — closing at all-time highs. Bitcoin, the original cryptocurrency, also jumped to a record after posting a 9% gain to cross $76,000 per coin and $1.5 trillion in market cap. The US dollar rallied to a four-month high, putting further pressure on gold prices. Gold is seen as a hedge against risk and risk was the last thing traders wanted to run away from. The post-election day was all about Trump’s promises to boost the US economy, jump start the labor market, impose higher tariffs and cut taxes for businesses. All that contributed to a spike in demand for risk assets, simultaneously causing gold to slide further away from its recent peaks.

After going through the highly organised data releases and central bank decisions, there is one last piece of fundamental analysis that you need to be aware of. Event risk is anything that will move markets, but that you can’t see coming. News Headlines: There are just so many different types of headlines that come from a whole range of different places. Some credible and some not. Funnily enough, it is often the least credible headlines that get the most attention from markets! Keep an eye on the News Terminal for streamed news headlines that have the potential to move forex markets. These could be central banker or politician comments, unexpected good or bad economic news or even something as wacky as a new life changing invention! If it’s something confronting flashing up on trader’s screens, so often they hit the buy/sell button first and ask questions later. Natural disasters: Natural disasters are one headline that nobody wants to read, but unfortunately for all of us, they are a fact of life. I’m sure you all remember the devastating Japanese earthquakes that rocked the island and triggered multiple tsunamis? This saw USD/JPY instantly shoot up as traders exited their Japanese Yen exposure and sought the safety of US Dollars. Natural disasters aren’t something that the people can plan for, but they are reported instantly on social media wherever they happen in the world. You have no excuses if you let yourself get caught out by a natural disaster headline.

After going through the highly organised data releases and central bank decisions, there is one last piece of fundamental analysis that you need to be aware of. Event risk is anything that will move markets, but that you can’t see coming. News Headlines: There are just so many different types of headlines that come from a whole range of different places. Some credible and some not. Funnily enough, it is often the least credible headlines that get the most attention from markets! Keep an eye on the News Terminal for streamed news headlines that have the potential to move forex markets. These could be central banker or politician comments, unexpected good or bad economic news or even something as wacky as a new life changing invention! If it’s something confronting flashing up on trader’s screens, so often they hit the buy/sell button first and ask questions later. Natural disasters: Natural disasters are one headline that nobody wants to read, but unfortunately for all of us, they are a fact of life. I’m sure you all remember the devastating Japanese earthquakes that rocked the island and triggered multiple tsunamis? This saw USD/JPY instantly shoot up as traders exited their Japanese Yen exposure and sought the safety of US Dollars. Natural disasters aren’t something that the people can plan for, but they are reported instantly on social media wherever they happen in the world. You have no excuses if you let yourself get caught out by a natural disaster headline.

US. The former (and future) President’s agenda is packed with domestic policies, which boosted dollar demand, leading to the index’s 2% rise on the day. The gauge, measuring the dollar’s valuation against six major forex currencies, hit a four-month high. The outlook is certainly looking bright for the buck. Trump has vowed to introduce tariffs on trading partners, which is seen as bullish for the dollar even as this move may strain some of the international relations of the US with major countries. Domestically, Trump has pledged to support small and mid-size businesses and concentrate his efforts on hiring US citizens and stimulating homegrown companies. All that bodes well for the US dollar. Still, other factors are in play and a big one is coming later on Thursday. The Federal Reserve is getting ready to decide the level of interest rates and a rate cut of 25 basis points is already priced in. The cut is expected to continue the US central bank’s rate-slashing cycle, which kicked off at the previous meeting when officials axed 50 basis points from borrowing costs.

US. The former (and future) President’s agenda is packed with domestic policies, which boosted dollar demand, leading to the index’s 2% rise on the day. The gauge, measuring the dollar’s valuation against six major forex currencies, hit a four-month high. The outlook is certainly looking bright for the buck. Trump has vowed to introduce tariffs on trading partners, which is seen as bullish for the dollar even as this move may strain some of the international relations of the US with major countries. Domestically, Trump has pledged to support small and mid-size businesses and concentrate his efforts on hiring US citizens and stimulating homegrown companies. All that bodes well for the US dollar. Still, other factors are in play and a big one is coming later on Thursday. The Federal Reserve is getting ready to decide the level of interest rates and a rate cut of 25 basis points is already priced in. The cut is expected to continue the US central bank’s rate-slashing cycle, which kicked off at the previous meeting when officials axed 50 basis points from borrowing costs.

The biggest and most obvious part of fundamental analysis is trading economic data releases, or more simply as traders call it: News trading. So that everyone in the market has a level playing field when it comes to market sensitive news, each economic data release has a set time and date that it must be released. This means that at this particular time EVERYONE is watching and trading that particular forex market. All this attention leads to volatile market conditions as everyone tries to outwit each other in the race to best position themselves. There are literally hundreds of economic data releases every single day. Think about it. Every single country in the world releasing data such as unemployment, retail sales, GDP, trade balance. The list goes on forever. But just because a piece of economic data is released, doesn’t mean that it is relevant to you and your trade! The Vantage FX economic calendar allows you to filter news releases by both country and expected market impact, making sure you’re only focusing on the news that is most relevant to you and your particular forex trade. If you are trading EUR/USD, then the GDP of South Africa contracting shouldn’t really have too much of an effect on either the Euro or the US Dollar, should it? Of course not. But on the other hand, a big and unexpected drop in the tier 1 US unemployment rate could have catastrophic effects on not only USD forex pairs, but across the entire forex market. This is because the US economy is still the biggest and weakness at the top of today’s interconnected world so easily sends shockwaves through the entire world. Do you remember the GFC?

The biggest and most obvious part of fundamental analysis is trading economic data releases, or more simply as traders call it: News trading. So that everyone in the market has a level playing field when it comes to market sensitive news, each economic data release has a set time and date that it must be released. This means that at this particular time EVERYONE is watching and trading that particular forex market. All this attention leads to volatile market conditions as everyone tries to outwit each other in the race to best position themselves. There are literally hundreds of economic data releases every single day. Think about it. Every single country in the world releasing data such as unemployment, retail sales, GDP, trade balance. The list goes on forever. But just because a piece of economic data is released, doesn’t mean that it is relevant to you and your trade! The Vantage FX economic calendar allows you to filter news releases by both country and expected market impact, making sure you’re only focusing on the news that is most relevant to you and your particular forex trade. If you are trading EUR/USD, then the GDP of South Africa contracting shouldn’t really have too much of an effect on either the Euro or the US Dollar, should it? Of course not. But on the other hand, a big and unexpected drop in the tier 1 US unemployment rate could have catastrophic effects on not only USD forex pairs, but across the entire forex market. This is because the US economy is still the biggest and weakness at the top of today’s interconnected world so easily sends shockwaves through the entire world. Do you remember the GFC?

Technical analysis, while proven to be one of the most reliable ways to make informed trading decisions, can be time consuming and often requires multiple indicators and other tools. In order to simplify chart analysis and ensure a higher percentage of profitable trades among our clients, OctaFX has partnered with Autochartist, one of the leading providers of chart pattern recognition tools. The Autochartist Metatrader plugin delivers real-time trading opportunities straight to your terminal. See chart patterns and trends in just one click. You’ll also receive daily Market Reports on each session direct to your inbox. Get the Autochartist Metatrader plugin Your total combined accounts balance must be 500 USD or more. Download the plugin. Drag and drop the plugin Expert Advisor onto one of your charts. How do I open a trade with the Autochartist plugin? The Expert Advisor plugin does not open any trades, it only shows the patterns identified by Autochartist. Find the currency or the opportunity that you’re interested in. You can do this in a number of ways.

Technical analysis, while proven to be one of the most reliable ways to make informed trading decisions, can be time consuming and often requires multiple indicators and other tools. In order to simplify chart analysis and ensure a higher percentage of profitable trades among our clients, OctaFX has partnered with Autochartist, one of the leading providers of chart pattern recognition tools. The Autochartist Metatrader plugin delivers real-time trading opportunities straight to your terminal. See chart patterns and trends in just one click. You’ll also receive daily Market Reports on each session direct to your inbox. Get the Autochartist Metatrader plugin Your total combined accounts balance must be 500 USD or more. Download the plugin. Drag and drop the plugin Expert Advisor onto one of your charts. How do I open a trade with the Autochartist plugin? The Expert Advisor plugin does not open any trades, it only shows the patterns identified by Autochartist. Find the currency or the opportunity that you’re interested in. You can do this in a number of ways.

Autochartist Market Reports provide a clear overview of the current trends across most popular trading instruments. Delivered to your inbox at the beginning of each trading session, the reports can suggest which trade you should enter next or whether your current strategy needs an adjustment. Moreover, it provides significant time saving benefits in analysing the charts. Upcoming High Impact Economic Releases At the top left corner you will find a list of all releases scheduled for the day. These reports are important as it is not uncommon for the market volatility to increase during the major news, therefore risk management techniques may be required in order to lessen risk exposure.

Autochartist Market Reports provide a clear overview of the current trends across most popular trading instruments. Delivered to your inbox at the beginning of each trading session, the reports can suggest which trade you should enter next or whether your current strategy needs an adjustment. Moreover, it provides significant time saving benefits in analysing the charts. Upcoming High Impact Economic Releases At the top left corner you will find a list of all releases scheduled for the day. These reports are important as it is not uncommon for the market volatility to increase during the major news, therefore risk management techniques may be required in order to lessen risk exposure.