When you choose to engage in forex trading, you’ll quickly come to understand that it pays dividends to make use of any and every tool that is available. These tools should help push forward your trading strategy, improve your output, and effectively help generate more profit. Looking at what could very well take your forex trading efforts to the next level, forex trading signals happen to be something that no active trader can really afford to ignore.
Signals are electronically transferred titbits of information that you can receive via email, SMS, text, and—in some circumstances—even via social media platforms. This information often represents critical need-to-know data related to the market. In many ways, a signal is an on-the-fly update that you can incorporate into the forex trading decisions that you make.
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Read MoreTechnical analysis is the study of actual movements in the price of a financial product. However, in my opinion, technical analysis is less about trading and more about the study of mass psychology. We study the way people react in certain situations in the market, which is quite prevalent when identifying and trading using chart patterns.
Read MoreOverview
Read MoreBoth the moving average convergence divergence (MACD) and the relative strength index (RSI) rank among the most popular momentum indicators used in forex trading. When used in combination with other technical indicators, both MACD and RSI can offer value in validating trade opportunities and timing trades to optimize your risk management practices.
Read MoreOf the many different chart patterns used to predict price behavior for forex currency pairs, wedge patterns are one of the most commonly used patterns.
Wedge patterns are popular for their ease in analyzing on a chart as well as their proven value over time in predicting future price breakouts on the forex market. But while these patterns are easy to identify on a chart, the best practices for trading around them can be a little more complicated and dependent on your overall trading strategy.
Here’s an overview of how the wedge pattern can be used in your forex trading strategy as well as how to plan trades that minimize risk and maximize potential profit.
Read MoreWelcome to our look back at the previous month and a look ahead to what we might expect to see throughout August and beyond.
We started the first day of July with OPEC+ looking at increasing production which sent Crude prices higher and other assets followed. This was short-lived, however, with news of the COVID Delta Variant affecting demand...again.
In a bizarre move, the Chinese government has made it illegal for private education companies to make a profit, raise capital which hit global stock markets.
The US Congress has approved a massive Infrastructure bill which could not have come at a better time to boost employment, hopefully, and increase productivity in the US.
The major news items to watch going forward into August will include the status of the Delta Variant of COVID, which may have already ruined the summer 2021 travel season, and China who are clearly looking at rewriting the rules on trade, business, and capitalism, within their own borders and beyond.
Read MoreThe uncertainty created by Brexit hasn’t spared the forex trading market or forex traders based in or trading through platforms based in Great Britain.
With Brexit complete and its impact on forex evolving over time, many traders have questions about the implications of this political and economic move not only on the rules and regulations of forex trading but also the trading opportunities created by this shift.
Look no further for answers to your most pressing questions. Here’s an overview of the impact Brexit has had—and will continue to have—on forex trading.
Read MoreAs you probably already know, the forex market is open and active 24 hours a day, seven days a week. Traders can log onto a trading platform at any time to move currency around, but this doesn’t necessarily mean that people should be trading around the clock.
When trading forex, timing can often be everything, as there will always be good times to trade and not-so-good times to trade. To ensure that you only trade at the optimum moments, the following details the best times to trade forex, along with the times when it’s well worth staying away from the market.
Read MoreThe relative strength index, or RSI, is a price momentum indicator in the same family as the moving average convergence divergence (MACD) and stochastic oscillator. Like other momentum indicators, the RSI is charted on a separate graph adjacent to price and has an oscillator range between 0-100. Most traders use the RSI to identify overbought and oversold market conditions and locate trade entry and exit points, but it can also be used as a divergence indicator.
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