Renko charts are a trading utility that helps the trader to exploit the price trend for profit. The charts appear like bricks where a green or white brick represents an upwards price movement. On the contrary, a red box shows that the price is falling. Particularly, Renko charts have a smoothing effect; they do not focus on small price movements. The indicator only … [Read more...] about Guide To Using Renko Charts for Profitable Forex Trading
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What Is Currency Hedging: Three Strategies Amidst Covid-19 Pandemic
Never before has hedging gained prominence than at a time when the coronavirus pandemic appears to be triggering extreme levels of volatility in the capital markets. Retail traders, as well as institutional traders, have had to engage hedging strategies in a bid to protect their portfolios, given the wild swings in the markets. Whether in automated trading or manual … [Read more...] about What Is Currency Hedging: Three Strategies Amidst Covid-19 Pandemic
Ichimoku Indicator Guide: How to Use Ichimoku In Technical Analysis
Ichimoku Indicator Components Ichimoku Indicator is one of the best forex indicators for automated trading. The algorithmic FX trading indicator is best known for providing reliable information about support and resistance levels. Also, it is also used to ascertain trend direction and momentum when analyzing chart patterns in the market. The … [Read more...] about Ichimoku Indicator Guide: How to Use Ichimoku In Technical Analysis
Relative Strength Index Trading Strategies
Relative Strength Index is one of the best forex indicators leveraged by traders in manual trading as well as automated forex trading. As a forex-charting tool, the indicator is often used to measure momentum magnitude in technical analysis of stocks, currencies, commodities, among other securities. Understanding RSI Indicator The RSI indicator stands out … [Read more...] about Relative Strength Index Trading Strategies
What You Need To Know When Placing Profit and Stop Targets in Forex Trading
Stop-loss and Take profit are common types of forex orders that traders looking to engage in automated trading or manual trading of the forex market must have a clear understanding of. The two order types go hand in hand with entry and exit points and are often used in trade management. Most traders, especially novice traders, place exit targets in the form … [Read more...] about What You Need To Know When Placing Profit and Stop Targets in Forex Trading
