Discovering Forex Currencies – Part 1

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When it comes to trading foreign currency pairs, everyone knows the heavy hitters; pairs such as GBP/USD, Eurodollar or DollarYen immediately spring to mind. For many FX traders, it seems that the world revolves only around a few major currencies; … Continued

Technical Indicators V: Moving Average Convergence Divergence (MACD)

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Moving Average Convergence Divergence (MACD) shows the difference of two moving averages – EMA12 and EMA26, and a 9-day EMA of the difference is plotted against it to trigger buy or sell signal. There are three parameters in MACD: MACD … Continued

Technical Indicators I: Introduction

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Technical indicators are statistics of past market data base on different mathematical calculations. Traders use technical indicators extensively in technical analysis to predict the continuance and the reversals in currency trends. There are two major types of technical indicators: trend … Continued

Chart Patterns XII: Rectangles

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The rectangle formation is often a very simple one to recognize. It is essentially a market that is trading in a range between two horizontal lines. The rectangle formation represents consolidation of the move that preceded it, creating a foundation … Continued

Chart Patterns IV: Double Tops and Bottoms

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The double top formation is a straightforward pattern that is easy to recognize on a chart. One of the features of a market in an uptrend is a series of increasing highs and relatively higher lows. If the market on … Continued

Candlestick VII: Candlestick Patterns Confirming Reversals

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Candlestick patterns are used to confirm reversals. Often when a price moves towards a support or resistance level, it is unclear for several periods on the chart whether it is going to break through or reverse. Intraday penetrations of important … Continued

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