Hello Traders, here we go again! Let me cover a little bit more on the next topic in this mini series, the various currencies that are involved and a little descriptions about them! Let's begin! In the vast realm of forex trading, understanding the intricacies of currency pairs is fundamental to success. As a Full-time forex trader with years of live experience,...
Price bounced perfectly from our confluence support level and reached our target. But how did it happen? Join Desmond as he reviews how we managed to forecast the reversal with such a high degree of accuracy. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘Name of third party...
Welcome to the intriguing world of Forex, where currencies act at their own rhythm, sometimes defying expectations and confounding even the most experienced traders. In this article, we are going to unravel the “mysteries” surrounding the reactions of USDCHF and EURGBP to recent interest rate hikes. We will dive into the realms of market anticipation, monetary...
Watch how interest rates decisions set trends in EURUSD and Dollar Index impacting the entire forex market. I marked all the previous interest hike decisions by FED and ECB. 2023 EURUSD bullish reversal was triggerred by ECB starting to raise iterest rates (after EUR hit the alarming 1.00 level). EUR might continue bullish until next tow hikes. From what I read...
Hi everyone! As you all should know by now, I mainly use smart-money concepts to enter into my trades. Today I will be talking about the concept of liquidity and how to capitalise on it. Looking at the graph, there are 4 main types of liquidity that I use and as stated in the chart, I will normally look for entries off the liquidity grab zones or liquidity...
A simple way to trade EUR/USD is by taking advantage of its tendency to retest the 200-period moving average on the hourly chart. To do this, wait for the currency pair to move away significantly from the 200-period moving average and show signs of overbought or oversold conditions with two peaks or troughs, along with divergence. This presents an opportunity to...
See how price reacts at 1000 pips increments (1, 1.10, 1.20, 1.30) and their quarters (1.25, 1.05, 1.075 and so on). The reaction at those levels is nearly guaranteed. Once price hit 1.10 recently, we saw a pullback of 350 pips to the downside. Those psychological levels will be highly useful to any trader. They work well on majors (USD baed pairs), less so on...
December statistically the weakest month for the US Dollar, a statistic since 2000 against the EUR/USD. Relative to statistics, December is the month in which EUR/USD gains the most. The average EUR/USD increase for the month is over 1.58%. This year there is a really good chance that the rule could be confirmed. December statistically the weakest month for...
There is a tug of war situation among the central banks to hike interest rates. What is the bad and the good that will come out from this? i. Last week of October, European Central Bank officials announced another massive 75 basis point hike, increasing interest rates at the fastest pace in the history of the euro currency. ii. This week, the Federal Reserve is...
I've been trading for over 7 years and I've come to love pivot points! I see pivot points being used constantly and i just wanted to show you EURHUF on a 15 minute chart as an example. When the US market opened they made big moves around yesterday's price level until it hit the first support level. I use pivots to scalp the market so i can compound my longs and...
Hey Purpose Traders. I pray all is well. In this video, I wanted to give you a deep, but quick insight on how you can trade pullbacks using the Fibonacci Retracement Tool. I'd love to know your thoughts and if you have any questions. Lets chat in the comment section below.
Find a momentum and draw a trendline. Spot what timeframe price has been respecting the EMA. ( I personally go for the 50 day EMA) Watch for a breakout then wait for the retest of the trendline. 1st entry @ retest of trendline. Stop loss goes above the previous high before the breakout. Please note that price will also have to be below the EMA its been...
TOP TIPS TO PASS PROP FIRM CHALLENGES (FTMO, MYFOREXFUNDS ETC..) 1. TREAT THE ACCOUNT AS IF ITS HALF THE SIZE. For example; If the challenge is a 100k challenge, treat it like its a 50k challenge and enter your positions according to that. That way, your losses wont be as big and if your strategy/analysis is good then you'll eventually pass the challenge. Most...
TOP TIPS TO PASS PROP FIRM CHALLENGES (FTMO, MYFOREXFUNDS ETC..) 1. TREAT THE ACCOUNT AS IF ITS HALF THE SIZE. For example; If the challenge is a 100k challenge, treat it like its a 50k challenge and enter your positions according to that. That way, your losses wont be as big and if your strategy/analysis is good then you'll eventually pass the...
Today we will go through a simple trading lesson, but an effective one. The example I will be using today in terms of timeframes is mainly focused on Swing Traders; however, these principles remain valid for any timeframe because of the fractal characteristic of the market. Also, this will be a bullish example, but the same principles apply to bearish examples. ...
I bet nobody of you looked at 23 hour chart of EUR or GBP. But this is the chart that will reveal some secrets to you as a trader. Take a better look at it. I have no logical explanation to this but its robotic nature is effective in forecasting impulsive price moves. You can use RSI with 23 hours chart. I find it esp useful as it is using closing prices, which...
My technique that i used to determine whether to buy or sell a currency pair at any given time. that technique is based on three Fondamental Points : CCI (convergence /divergence) Tops / Bottoms Trendline Fibo retracement. For thiis pair , we expacet an strong bearish to dwon level for next weeks approx (3-4 months) So Lets see the result by testing this...