Breakouts are rewarding patterns for trading volatile markets as they allow traders to profit early on as a new trend begins. However, many, at times, breakouts are often plagued by false signals resulting in false breakouts. What is A False Breakout? As the name implies, a false breakout occurs when price moves above a critical resistance level or below a key … [Read more...] about Forex Trading Strategies: False Breakout Essentials
Why It Is Essential to Understand Your Personality In Trading? Your trading personality profile is very crucial for you, especially when you are still in the learning process for trading consistently. By understanding your personality in trading, you can focus on learning strategies that have the highest potential to provide you with profits. You already know that learning … [Read more...] about Trading Psychology: Understand Your Trading Personality Profile
Most beginner traders look for a single indicator that can help them make big profits. They may find one that helps them make profits but as soon as the losses come in, they look for another indicator. This is the wrong way of approaching indicators since none of them is designed to provide a flawless market prediction. They are not even designed to correlate with each … [Read more...] about Triple Screen Trading System Explained
How Support and Resistance Levels work Support is referred to as a price level where a downtrend is likely to pause because of a concentration of demand or buying interest. While the price of currency drops, the demand for it increases and thus, buy orders flow form the support line. Resistance zones, on the contrary, arise because of selling interest while prices … [Read more...] about Support and Resistance: How To Draw Levels Confidently?
Introduction In the foreign exchange market, categories of currency pairs exist where categorization is based on demand and liquidity of the pair. Majors include all pairs associated with the US Dollar. Because close to 90% of the forex transactions involve the greenback, all associated currency pairs are massively liquid and in high demand. Contrariwise, … [Read more...] about What Moves Currency Pairs: Understanding the USD/INR