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The power of Harmonic Pattern Strategy
27/07/2020

The power of Harmonic Pattern Strategy



Fundamental Analysis Tool:Economic Calendar – One of the key day to day tools for a fundamental trader is the economic n...
12/06/2020

Fundamental Analysis Tool:

Economic Calendar – One of the key day to day tools for a fundamental trader is the economic news calendar. There are many different sources that make this available including Econoday, Forex Factory, and Trading Economics. A favorite among many forex traders is the Forex Factory economic calendar. It lists all scheduled economic reports, along with other important geo-political events. It provides a color-coded system where you can sort by low, medium, and high impact events. Short term news traders try to capture intraday profits during high impact news events, while macro fundamental traders rely on it to help them build a longer-term outlook for a particular currency pair or country.

Popular Tool Used By Technical Analysts:Chart Pattern Analysis – Chart analysis is also a very popular technique used by...
12/06/2020

Popular Tool Used By Technical Analysts:

Chart Pattern Analysis – Chart analysis is also a very popular technique used by some technicians. Some traditional chart patterns include Head and Shoulders, Double Top and Double bottoms, and Cup and Handle formations. There are also Fibonacci based patterns, such as a Gartley, Bat, or Butterfly.

Furthermore, there are candlestick patterns and more advanced technical analysis patterns such as Elliott waves that can be analyzed as well. As humans we have a natural tendency towards pattern recognition, and this translates into our desires to look for patterns within price charts.

Popular Tool Used By Technical Analysts:Price Action Analysis – Price is the single most important tool within a technic...
11/06/2020

Popular Tool Used By Technical Analysts:

Price Action Analysis – Price is the single most important tool within a technician’s toolbox. The current price reflects the motivations of all market participants and the supply and demand balance at any given point in time. Many technical traders rely exclusively on price action analysis, combining support and resistance levels, and candlesticks to gauge the potential movements of price going forward.

Popular Tool Used By Technical Analysts:Technical Indicators and Oscillators – This is a favorite among technical trader...
11/06/2020

Popular Tool Used By Technical Analysts:

Technical Indicators and Oscillators – This is a favorite among technical traders. There are many different technical tools available. There are momentum indicators such as MACD, RSI, and Williams %R. There are trend indicators such as moving averages, and trend lines. There are volatility bands, such as Bollinger Bands and Keltner channels. Technicians try to find confluence among various technical studies in order to narrow in on high probability trading opportunities.

GBPAUD (Long Position)Entry @ 1.81835SL @ 1.81198TP @ 1.83589
10/06/2020

GBPAUD (Long Position)

Entry @ 1.81835
SL @ 1.81198
TP @ 1.83589


GOLD (waiting for Short Position)GOLD (Waiting for Short Position)
10/06/2020

GOLD (waiting for Short Position)
GOLD (Waiting for Short Position)



Popular Tool Used By Technical Analysts:Forex Volatility Tool – A currency volatility tool provides a typical pip range ...
10/06/2020

Popular Tool Used By Technical Analysts:

Forex Volatility Tool – A currency volatility tool provides a typical pip range that can be expected within a specified period of time. This could be the average over a period such as one hour, one day, one week, or some other specified period. Knowing the volatility of a currency pair can help a trader in selecting the right pairs to trade and in setting realistic profit targets.

Both the volatility tool, and the aforementioned currency correlation tool can be found at Mataf.net, a popular site that provides a wide array of tools for forex traders.

Popular Tool Used By Technical Analysts:Currency Correlation Tool – Price movements of certain currency pairs tend to be...
10/06/2020

Popular Tool Used By Technical Analysts:

Currency Correlation Tool – Price movements of certain currency pairs tend to be related. A positive correlation occurs when the price of two pairs tends to move in the same direction. A negative correlation exists when the price of two pairs tends to move in opposite directions. Currency pairs that do not display any price relationship are said to be uncorrelated. A currency correlation table allows a trader to quickly find these relationships.

It’s important to know the correlation between pairs that you are interested in trading or already have a position in because it will help to reduce your overall position risk.

Disadvantage of Fundamental Analysis:Lack of Market Timing – Fundamental analysis can provide us insights into the bigge...
09/06/2020

Disadvantage of Fundamental Analysis:

Lack of Market Timing – Fundamental analysis can provide us insights into the bigger picture view, but it typically cannot provide us with an objective and reliable method for timing our entries and exits. And in trading, timing is everything. You can be right on the direction, but if you are wrong on the timing, your trade will most likely result in a loss. As such, fundamental analysts typically need to rely on technicals or some other technique for entering and exiting trades.

09/06/2020

Identifying Support and Resistance by Adam Khoo (Part 1)


Disadvantage of Fundamental Analysis:Information Overload – Fundamental analysis is a very broad and deep subject. There...
09/06/2020

Disadvantage of Fundamental Analysis:

Information Overload – Fundamental analysis is a very broad and deep subject. There is so much information available to traders and investors that digesting all of it can be quite overwhelming to say to least. This can sometimes lead to confusion and result in being counter productive at times.

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