Clearing your charts of all indicators forces you to focus on the price. Price movement is what creates profits and losses, and is therefore the most valuable indicator you have. Price Action Entries October 31 was a trending day for the EUR/USD; trending days are relatively easy to trade as long as you trade with […]
When day trading, looking at both the long and short-term technical outlook of an asset can be a big advantage. If you only look at a 1-minute chart for example, you may be missing the larger trend. And if you only look at a daily, hourly or 15 minute chart you’re likely missing a lot […]
One of the first lessons we often receive as traders is “trade with the trend.” This is good advice, which I recommend following. But how can you tell when a trend is trustworthy, or strong? While it is good to trade in the same direction as a strong trend, if the trend is weakening or […]
There is a new kid on the block and it’s known as 0-100 binary options. Well, maybe they aren’t so new but there have been some developments over the past year that have brought them into the spotlight. If you don’t know what this type of trading is here is a little primer. Like standard […]
In part 1 we looked at the overall strength of the market as a determinant for if we should stay in a trade or not through a pullback. Yet, pullbacks can be rather deceptive. Assume we have decided to stay in a short trade because there was a lot of selling pressure prior to a […]
Place a few trades and you’ll invariably ask yourself this question at some point. Say you buy the EUR/USD at 1.3700 and have a price target at 1.3730. The price climbs to 1.3720 and then starts to reverse. Do you say “Close enough!” and take your profit, or do you allow the EUR/USD to pullback […]
In a rare event, non-farm payroll data out of the US was released on Tuesday, October 22 due to the prior government shutdown. Non-farm payroll data is usually released on the first Friday of each month, at 8:30 AM EST. Having a strategy for trading the non-farm payroll report should be in every forex trader’s […]
When trading futures, stocks, ETFs or watching indexes–directly or via a binary option–the early morning trades often present the best opportunity. When the market opens orders flood in, creating volatility and profit potential. While I’ve read some trading books that say to avoid trading near the open and close of a market because it is […]
Technical versus fundamental analysis has been a long-standing debate amongst investors, but for day trading or short-term trading technical analysis is the way to go. Technical analysis is the study of price charts and basically any information that can be compiled from them, such as volume analysis, cycles, trends and statistics. Technical analysis is used […]
Sunday evening 15 pip gap up open followed by initial mostly sideways action. The highlighted pinbar doesn’t mean anything to me until the following fade downward, slow reverse & impulsive break of the Tenkan. At that point I see the top of the pinbar as a likely magnet & resistance, and I look for entries […]