All financial markets generate data about the movement of the price of a market varying periods of time. This data is displayed on the price charts in the form of price action. Price Action is a theory of market behavior based on the psychology of the traders, market makers, and the market itself. It attempts to explain the volatility of the market without news, indicators and other external factors. The main tool of Price Action is the charts of the currency pairs and the patterns on them. The Price Action traders analyze those charts to...
Dear friends, I know what a challenge the forex market can be. I was in walking in the same shoes most of you are walking in. Working hard at my day job, coming home and spending two to three hours in the evening analyzing chart, reading news, networking on social media and placing my trades. Exposed to stress, frustration and ultimately all I had to show for are consistent losses every month. My name is Khalid and I am from Dammam in Saudi Arabia. I work security at the King Fahd International Airport and I have been a part-time forex trader...
Timing is crucial for almost everything in life, so trading forex is not an exception. Currency trading is unique because of its hours of operation. The week begins at 6 p.m. EST on Sunday and runs until 5 p.m. on Friday, and not all hours of the day are equally good for trading. The round-the-clock opportunity gives the perfect setting for forex traders who are driven to making profits. This is possible because of the existence of different time zones in which the money markets across the different parts of the world operate. The Far East...
US President Trump took to Twitter in order to criticize the valuation of the Euro and how this puts the US at a disadvantage. While many grew accustomed to Trump tweeting his dislikes at odd times about many different things, is the Euro undervalued? According to the purchasing-power-parity model used by the Organization for Economic Cooperation and Development (OECD), Trump is correct in his anger. The model suggests that the Euro is undervalued by 22% against the US Dollar. This makes it the third most undervalued currency, trailing only...
Welcome back everyone! Before we dive into today’s exciting edition of my Bitcoin - Forex Combo Strategy, let’s give it up to support levels in Bitcoin which repelled the bearish attack on price action. There is still a chance for another push to the downside, but as I outlined in last week’s update “Bitcoin - Forex Combo Strategy: Neo Upgrade”, I don’t see any sustained move below $6,380. At current prices, I am not adding to my existing Bitcoin position. In the event that a second bearish wave will pressure price action below $6,500, I am...
