Pivot Points are a popular tool used by day traders. Pivot Points use yesterday’s price action to provide potentially important price areas today. Therefore, traders run the calculation at night or in the morning to provide themselves with the Pivot Points for the upcoming session. That makes Pivot Points a “predictive” indicator, similar to Fibonacci […]
We all know forex pairs aren’t equal in performance. Some greatly outperform others, while others do almost nothing, and yet others just seem to keep falling no matter what. The greatest trading opportunities lie in those forex pairs with the strongest trends (up or down). This is because it is easy to choose the direction […]
Most traders feel extremely “screwed” when in the final seconds of their trade they go from in-the-money to out-of-the-money. Seconds later, after the trade is expired (or stopped out)–and you lost money–the trade is right back in-the-money. In traditional markets this is equivalent to getting high-ticked or low-ticked, which is when a stop-loss is triggered […]
When you are starting out trading forex pairs, whether it be in the spot market or using binary options, there is a lot of basic information required. Many traders skip over this basic information, and instead seek out strategies immediately. The forex market is open 24-hours a day because banks/businesses are open at different times […]
Most traders have a default timeframe they trade off. Maybe it is the 1-minute chart, 5-minute chart, or the hourly chart. Sometimes there just aren’t good opportunities on the chart we are looking at though, even if we trade multiple instruments. In times like this you may want to look for good opportunities on other […]
This is one of my favorite patterns; it is easy to spot and relatively easy to trade. All that is required is a bit of patience, and an eye for spotting the pattern. The pattern occurs quite often, but we only want to trade very strong patterns, as they offer the most promise. The Set-Up […]
I recently found what looked at first to be an elaborate affiliate marketing scheme. It is a website advertising a signal service provider with wild claims of profits and high success rates. As a rule I do not recommend ssp’s and I am not recommending this one but I remain intrigued by this one. The […]
The Keltner channel is a useful chart tool that helps you gauge the strength of trends, spot reversals and provide an overall context for how the market is moving. Keltner Channels Keltner channels are a volatility based indicator which forms a channel around the price. The channel moves with price. This is accomplished by applying […]
Most traders have heard of the MACD indicator, but far less have heard of the Percentage Price Oscillator (PPO), also sometimes called the Price Percentage Oscillator. The two indicators are very similar except that the PPO has a couple distinct advantages over the MACD. The Percentage Price Oscillator Like the MACD, the PPO is an […]
A large number of trades today as price trends managed to sustain themselves for at least a few waves. Such days provide a great opportunity to get some positive trades in the book, as not all days move favorably. Figure 1. EURUSD 1-Minute Chart, London and New York Overlap Period At the start of the […]