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| Approaching Resistance level of 78.8260 identified at 23-Dec-18:00 Supported by Upward sloping Moving Average | ||||||||||||||
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
Wednesday, December 23, 2020
AUD/JPY
Tuesday, December 22, 2020
Forex Trading
When trading the forex markets you need to learn to deal with losing trades. This is where using a stop loss will keep your losses small. You need to let your winning trades run and use a trailing stop. Check your charts for support and resistance areas to set your stops. Not every trade can be a winner so you need to except the fact that you will naturally have some losers. If you are new to trading the currency markets you should not trade around news release times.
The markets can be very volatile with wide swings in the pairs price. You will make money by staying with the trend and stay out of trades in a range bound or choppy market. Once the forex pairs are in a good uptrend or downtrend you can watch for a small pull back and then place your trades with the trend. The most powerful patterns for Forex traders
Monday, December 21, 2020
Tuesday, December 15, 2020
GBP/JPY
| At least 20 pip forecast - The key level and chart pattern were at most 5 candles apart at time of identification | ||
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| Symbol : GBPJPY  | |
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| Direction : Identified time : 2020-12-15 07:03 EST Breakout price : 139.016 Forecast price : 139.45585 Forecast pips : 44 Probability : 69.87 % | ||
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GBP/USD
| GBPUSD | ||
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| Direction : Identified time : 2020-12-15 07:02 EST Breakout price : 1.33756 Forecast price : 1.34365 Forecast pips : 61 Probability : 68.08 % | ||
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