Ok traders, this is a bit of a new one for me, but today we’re going to get cracking with our first lesson in MQL4 coding for MetaTrader 4. As I’m learning at the same time as I’m writing this, …
When it comes to timing the markets, all too often traders and investors struggle to resist the urge to buy for the sake of buying. And, this is usually without the presence of a valid trade setup or price pattern. …
The broadening wedge has always been a bit of a mystery to me. While it can be quite a profitable pattern, it has a tendency to play tricks on us traders if we’re not careful. Broadening wedges occur somewhat less …
For those who use price action to trade the Forex market, there’s a mixed opinion about the use of moving averages. I mean, why would you use them if price is your indicator? Well, let me explain why MAs can …
Sometimes, one of the most challenging aspects of trading the Forex market is determining a suitable and realistic take profit area. In fact, I’d argue quite strongly that determining an exit (whether in profit or at a loss) is significantly …
Typically, the Forex market is quite volatile and it’s this volatility that can cause gaps. Today, we’re going to go into why gaps are well worth paying attention to. So, why are gaps are important? To put it simply, gaps …
Imagine the following scenario. You’re watching the US dollar index in your MT4 platform, and have been doing so for weeks. Poised and waiting for the big break above a key resistance level so you can take advantage of the …
Impulsive trading something that all traders struggle with at some point in time, some more than others. And, more often than not it’s these impulsive trades that turn out to be losers. That in itself isn’t surprising though, especially considering …
Parallel or equidistant channels are a popular favourite among technical Forex traders. A channel formation is constructed of two parallel lines indicative of support and resistance and can be either bearish or bullish depending on the overall direction of price. …
When talking about reversal patterns in Forex trading, few are more familiar or widely-known than rising and falling wedges. But why so? Well, wedge patterns tend to offer some of the most precision entries as well as some of the …
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