Tuesday, April 6, 2021

Trading volume

  Trading volume is important. When a stock or forex pair has increased volume it is like fuel for a different price up or down. It can be an important sign for traders to enter the trade long or short. Many times news with trigger buyers and sellers to enter the trade. If you use candle stick charting you can see the direction if the candle is red or green.

 The time of day also matters so you need to be aware of the time this is happening.  The Forexmentor Live! interactive training in trading Forex includes unlimited access to the live trading classroom, detailed tutorial videos used in trading client accounts, a step-by-step guide to the LPT Method, technical analysis, detailed presentations throughout the day, live Trade Alerts, access to Professional Fund Managers, access to live news feeds in real time and so much more.

Monday, April 5, 2021

Forex chart, USD/JPY


30-Mar-20:00 -> 05-Apr-12:00
Target Level: 110.7440
SL:(A)110.5170Last TP of Triangle
RL:(B)110.7440Last TP of Triangle
Target Period: 9 hours
Interval1 hour
Length44 Candles
Triangle identified at 05-Apr-06:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 110.7440 within the next 9 hours.

GBP/USD,forex chart


25-Mar-17:00 -> 05-Apr-12:00
Target Level: 1.3886
SL:(A)1.3812Last TP of Ascending Triangle
Target Period: 2 days
Interval1 hour
PatternAscending Triangle
Length116 Candles
Ascending Triangle has broken through the resistance line at 05-Apr-09:00. Possible bullish price movement forecast for the next 2 days towards 1.3886.
Supported by Upward sloping Moving Average



01-Mar-18:00 -> 05-Apr-13:00
Target Level: 86.0830
SL:(A)86.0830Last TP of Channel Up
RL:(B)88.2980Last TP of Channel Up
Target Period: 2 days
Interval4 hour
PatternChannel Up
Length99 Candles
Channel Up identified at 02-Apr-09:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 86.0830 within the next 2 days.
Supported by RSI above 60

Wednesday, March 31, 2021



10-Mar-06:00 -> 31-Mar-13:00
Target Level: 1.1094
SL:(A)1.1031Last TP of Rising Wedge
RL:(B)1.1094Last TP of Rising Wedge
Target Period: 3 days
Interval4 hour
PatternRising Wedge
Length52 Candles
Rising Wedge identified at 31-Mar-09:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.1094 within the next 3 days.
Supported by Upward sloping Moving Average