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what does consolidation in trading mean? Replied 5 months ago - Consolidation is when price is moving within a range or corridor just like water moving through a pipe. When consolidating, the price does not exceed a certain high/low price. In investing, there's some thing called the "Dow Theory" which states that markets move in phases starting with the consolidation phase where sufficient momentum is accumulated to enable the market transform from a sideways movement to an actual upward or downward trend.
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which candlestick pattern is most reliable in forex? Replied 6 months ago - Hammer head candlestick pattern seen atthe end of a trend usually signals a reversal of the trend.
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Best Chart Timeframe for Forex Trading Replied 6 months ago - I use 10 or 15 minute timefrme to get the perfect entry, then use 1 hour timeframe to monitor the progress of the trade (to avoid all the noise that smaller time frames carry) then when i want to exit the trade, i use 5 minute time frame
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can different chart timeframes give conflicting prices? Replied 6 months ago - You are reading it wrong. When you are checking the OHLC data of 5M candle at 6AM, it is OHLC data from 6AM - 6:05AM. But when you are checking the OHLC of 1H candle, it is that 1 hour from 6AM - 7AM. Does this make sense?
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my forex broker sends me daily trade signals, can i trust these signals? Replied 6 months ago - For me, I dont trust any signals sent to me by a forex broker because i dont beleive they truly care so much that they want me to win. I mean if they cared so much, they would have built more risk management features into their trading platforms, or even given us one spread-free trade per day. It seems everything to them is about making a profit.
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What’s the best way to identify highs and lows in forex? Replied 6 months ago - By switching to a higher timeframe. For example on the 1-month time frame (see image), each candle represents one month so you can easily see the highest and lowest price reached for each year.
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any disadvantage of trading on the 1 minute timeframe? Replied 6 months ago - Too many candles on your screen, you also get lots of false signals on the 1-minute chart.
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what does each candlestick mean on a forex trading chart Replied 6 months ago - Just like Sandy has said, the candlestick is a representation of the timeframe which you are analyzing the charts through. Set it to 1 hour time frame and each candle will show you the past opening and closing price for every 1 hour that passed.
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what is a retest in forex trading, why does it matter after a break? Replied 6 months ago - Look at a trade i just took, the purple line is the key level of resistance that marked the high of the Asian session for today. The price broke this key level and retested it and that was a signal for me to buy
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how do i divide my chart screen into different days? Replied 6 months ago - Works like a charm!!!
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whats your technique for analyzing forex charts? Replied 6 months ago - One of the methods I empoy is trend line analysis. For example if i see a down trend, I draw a trend line from the start of the trend and drag it downwards. The trend line i draw must touch the wicks or tops of some candles in its path, this is important. I then sit back & observe how new candles that form on the chart interact with the trend line. When i notice that new candles have started forming above the trend line, then it means the trend is dying. I then mark the point where the trend line was breached as an area of value for future referenc.
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can technical analysis be used on stock trading? Replied 7 months ago - Most retail traders in the world are technical traders, not fundamental or macro traders. Almost everyone is a 'chart expert'. So, yes, it is so common for traders to use technical analysis & chart patterns when trading individual stocks.
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How I Spot Head & Shoulders Pattern on a Forex Chart Replied 8 months ago - Beautiful Head and Shoulders pattern spotted on 5 minute EUR/USD chart
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how do i draw gann fan in forex?
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how to read bollinger band
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