Whether consciously or not, every technical analyst incorporates some form of support and resistance. This concept is the bread-and-butter of trading in any financial market. Any newbie can observe a chart and realize that price constantly bounces around similar levels over time. Ultimately, you want to buy as low as possible or sell as high as possible. However, don’t be … [Read more...] about Supporting the Resistance: Key Levels in Forex
Forex Trading Strategies
Best ADX Strategies for FX and Crypto Trades
Regardless of which financial asset you’re trading, it is always wise to open positions in line with a major, sustained trend. To that end, there are several trend-following indicators that have been invented to date. However, most of these will only point out the direction of market movements and hardly do they ever gauge the strength behind such moves. The ADX, however, has a … [Read more...] about Best ADX Strategies for FX and Crypto Trades
How to Trade False Breakout
The goal of a breakout strategy is to profit on a large move that follows a pattern that is relatively easy to spot. Seasoned traders know the importance of being ready for several false breakouts while catching the momentum. As the name suggests, it refers to an attempt to break out of an established level that fails to go further. Traders should be aware of false breakout … [Read more...] about How to Trade False Breakout
Best Forex Portfolio in 2022
The old adage advises us never to put all our eggs in one basket. This is sound advice, especially for investors, as investing all your capital in one vehicle can prove detrimental when the said vehicle goes south. For that reason, it is always advisable to dip your fingers in several pots, in what is referred to as diversifying your portfolio. For forex traders, this may look … [Read more...] about Best Forex Portfolio in 2022
Best Currencies to Day Trade in 2022
In the FX market, currencies are traded as pairs. This means by buying a pair, you are simultaneously buying the first currency, called a base, and selling the second, called a quote currency. Selling a pair means you are selling the base and buying the quote. The pair’s price is often listed as two prices, which are called a bid and ask price. The difference between these two … [Read more...] about Best Currencies to Day Trade in 2022
