Forex or The foreign exchange market is very very large financial market in the world, with a daily turnover of over $5 trillion. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. Forex trading refer to the art of buying or selling currency for profit.

Author Topic: Price action and chart reading in Forex Part 2  (Read 1684 times)

Newswire

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on: August 14, 2018, 11:54:02 AM
Price action and chart reading in Forex Part 2

For watching this video you should have at least one trading account. If you are not. Get a trading account for free here!

In this series of forex webinar video we will continue to go through price action analysis in this webinar.

As it was mentioned in the previous webinar, the shorter your timeframe is, the more information you will have to filter. That’s why, most popular “price action candlestick patterns” don’t work as expected in intraday trading. But it can be used on higher timeframes starting from H4.

Having identified supposed current market condition, you will have to choose way to response (entry, exit, position management). On smaller timeframes it can be a certain event (breakout of a pre-determined level or area), on higher timeframes it has to be conventional candlestick or bar pattern, occuring near specific trade location.

We will see how similar trades can be executed in perspective of different timeframes, and how timeframes can be combined for the sake of more efficiency and profitability.




Kikhist

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Reply #1 on: August 31, 2018, 01:43:56 PM
Chart reading is a must for forex trading professional.



Doomdook

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Reply #2 on: November 30, 2018, 01:09:31 PM
Learn to Trade with Beginner guide to forex trading. Understanding foreign exchange market, trading currencies pairs, bid price, ask price, spreads, pips and Moving Averages.



Dingsterel

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Reply #3 on: December 06, 2018, 06:29:37 AM
Forex is nice



Dinnil

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Reply #4 on: May 03, 2019, 09:51:00 AM


How to Trade Forex
Now that you know some important factors to be familiar of amid opening a forex account, we will take a see at what exactly you can trade within that account. The two main ways to trade in the foreign currency push is the easy buying and selling of currency pairs, where you go long one currency and quick substitute. The second way is through the purchasing of derivatives that track the movements of a specific currency pair. Both of these techniques are deeply same to techniques in the equities insist.The most common mannerism is to comprehensibly attain and sell currency pairs, much in the linked mannerism most individuals get sticking to of and sell stocks. In this achievement, you are hoping the value of the pair itself changes in a flattering appearance. If you go long a currency pair, you are hoping that the value of the pair increases. For example, permit's name that you took a long incline in the USD/CAD pair - you will make part if the value of this pair goes happening, and lose share if it falls. This pair rises as soon as the U.S. dollar increases in value neighboring-door to the Canadian dollar, thus it is a bet coarsely the U.S. dollar.

The new substitute is to use derivative products, such as options and futures, to profit from changes in the value of currencies. If you obtain an option regarding speaking a currency pair, you are attainment the right to obtain a currency pair at a set rate in the in front a set improvement in epoch. A futures covenant, upon the calculation hand, creates the obligation to get mixture of the currency at a set mitigation in time. Both of these trading techniques are usually unaccompanied used by more very developed traders, but it is important to at least be au fait behind them.



jonathan44

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Reply #5 on: May 03, 2019, 09:59:01 AM
The foreign row market is the most liquid financial abet in the world. Traders append governments and central banks, public statement banks, accumulation institutional investors and financial institutions, currency speculators, new personal ad corporations, and individuals. According to the 2010 Triennial Central Bank Survey, coordinated by the Bank for International Settlements, average daily turnover was $3.98 trillion in April 2010 (compared to $1.7 trillion in 1998). Of this $3.98 trillion, $1.5 trillion was spot transactions and $2.5 trillion was traded in outright forwards, swaps, and new derivatives.



 

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