✴️ Hello, ladies and gentlemen! Today we are going to talk about a popular strategy called Highest open Lowest open. This strategy was first published on forexfactory forum. The strategy is based on following the natural movements of the market, which you may consider unpredictable. Here, we will make money on those very movements. In this strategy, you will...
A whipsaw chart pattern is a type of price action that occurs when a security's price moves sharply in one direction, then quickly reverses and moves in the opposite direction. This can be a frustrating pattern for traders, as it can lead to losses if they enter or exit a trade at the wrong time.
Whipsaw patterns are most common in volatile markets, where prices...
In the realm of technical analysis, few tools capture the imagination of traders as effectively as Fibonacci retracements and extensions. Derived from the famous Fibonacci sequence, these levels offer insights into potential price reversals, extensions, and trend continuation points. In this article, we'll delve into the world of Fibonacci levels and explore how...
How many times have you been stopped out of a great trading idea you noticed just because you missed your original entry and decided to enter at a worse price?
This was most likely due to the fear of missing out (FOMO) and lack of discipline that got you into the trade.
You were right on the market direction, but due to FOMO and your lack of discipline, the...
Psychological biases play a significant role in shaping trading decisions, and one such bias that demands scrutiny is confirmation bias.
Confirmation bias refers to the tendency of individuals to seek out, interpret, and emphasize information that supports their existing beliefs or preconceptions while ignoring contradictory evidence.
In the forex...
⚡In simple terms, support is a level where demand overcomes supply, while resistance is a level where supply overcomes demand. In the market, different types of traders participate, and I have broadly categorized them into four groups based on their behavior.
⚡You may have heard that once a support level is broken, it tends to act as a resistance level, and vice...
Please note that the price was able to move from the ceiling during the time period specified in the box, but in the same time box, it could not return that way and it was filled within time. What it means in the market is that the power of buyers is more and there is a positive time divergence.
Navigating the markets often requires additional tools that can provide insight into trends. One such tool is the true strength index, which helps traders identify overbought and oversold conditions and quantify the strength of trends. In this FXOpen article, we’ll explore what the true strength indicator’s lines mean, what signals it produces, and its...
For a trader that trades GBPUSD like me, it is important to analyze the direction of TVC:DXY because TVC:DXY is negatively correlated with $GBPUSD. Knowing the direction of DXY is an additional confluence in trading $GBPUSD.
Here is how I analyze TVC:DXY direction.
Today's TVC:DXY direction analysis.
- DXY is showing a downtrend move.
- It took the...
I stumbled upon this approach through experimentation with various market geometries. By activating two inner lines of the "Fixed Square" tool and deactivating other distracting interior lines, we can effectively utilize this tool.
Our focus is on identifying the initial minor consolidation or the formation of key points for a new trend line. In this...
Greetings, fellow traders!
Trading is both an art and a science, and the research method is your secret weapon to unraveling market intricacies. It's about adopting a systematic approach, making informed decisions, and refining your strategies based on solid data.
Applying a analytic mindset in trading can offer a valuable edge. Let's explore the basics of...
Introduction
Options trading is a versatile and potentially lucrative investment strategy that allows traders to speculate on the future price movements of underlying assets. Unlike traditional stock trading, options trading grants investors the right, but not the obligation, to buy or sell an asset at a predetermined price (the strike price) within a specified...
Embarking on a journey to become a successful trader is not for the faint-hearted. It requires dedication, perseverance, and a deep understanding of market dynamics.
In this article, we'll explore the fascinating journey of a trader, from their humble beginnings to reaching the pinnacle of success in the financial world.
1. The Awakening:
The first step on...
Hello Traders! Today we will discuss trend lines and how to use them in trading. Let’s talk about it!
You can find the previous article by following this link:
Trend Lines: What are They?
Here is the chart for an example. There are 3 points we can reference and formulate a strategy for entry.
Now, let's explore a scenario with a descending timeframe.
We...
Hi! Have you ever abandoned your trading plan?🧐
If not, you should still read this, because you might be deceiving yourself!😉
If you have, why do you think you've been "unfaithful" to it?
It's about you.
Do you attribute it to your personality? Temporary loss of reason? Or perhaps, you see it as an inherent part of trading?
Several factors could...
As a fellow algo trading enthusiast, I wanted to dive deep into the world of programming languages and discuss the ultimate question: When to use Python versus TradingView Pine Script for algo trading?
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Hey Traders so today I wanted to share what I believe to be 2 of the best exit strategies using only Support and Resistance on your Daily Charts. Also another way of staying 3 days behind the market and using a trailing stop. The nice thing about these strategies is they don't require any indicators just drawing a few lines on your chart.
Enjoy!
Trade Well,
Clifford
Let's first look at a few images from our forecast database from the prior time period.
Take note of the dates on each of the straddles in the previous cases. They were surfaced well before the market actions that pushed stock prices to the specified levels.
Further, I'll include the answers about the nature of the Straddle option strategy, it's goal,...
