You’d be hard pressed to find a formation as ubiquitous as the double bottom or double top, often labelled ‘M’ tops and ‘W’ bottoms for visual reasons. Spend a couple of minutes looking at just about any candlestick/bar chart and numerous W and M patterns are immediately obvious. As a matter of fact, the pattern … Continue reading An Introduction to Double Bottom and Double Top Patterns
‘It pays to know where you are in the bigger picture’. We’re not entirely sure where this statement originated from, but it is certainly one that should be memorized. What is a multi-timeframe approach? It’s no secret that adopting a multi-timeframe approach can enhance your trading. The problem, however, is that some traders find it … Continue reading Using a Multi-Timeframe Approach
Nowadays, modern trading platforms offer a rich diversity of technical indicators – you could say you’re almost spoilt for choice. The Metatrader 4 platform (MT4), for example, comes fully loaded with 30 built-in indicators and 2000+ custom indicators. Unfortunately, this often draws newer traders into unchartered terrain. Understanding the subtle nuances and testing each indicator … Continue reading Top 3 Technical Indicators All Serious Traders Should Know
Updated February 2020. Markets ebb and flow; they advance, decline and consolidate. Traders construct a framework around market fluctuations using support and resistance, the underpinning of technical analysis. Determining support and resistance, however, is trader dependent, often leaving newer traders overwhelmed. Perhaps the most prevalent method of identifying support and resistance is from traditional swing … Continue reading How to Use Yearly, Monthly and Weekly Opening Points
Without a clear understanding of different order types, success within the forex market is unlikely. Similar to a plumber using a specialised wrench to adjust to different pipe diameters, a trader must know which order to use to communicate efficiently with the broker. It’s surprising how often newer traders feel equipped to tackle the live … Continue reading Making Sense of Basic Order Types: A MUST For All Traders
