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 …
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 …
As suggested by the term, a breakout is when price breaks out of a defined area of support or resistance, a trendline, or a price pattern. Simple as that, right? Well, you’d be surprised how often traders get this wrong. …
As a technical trader, one of the common topics of discussion is around whether a trade should be taken immediately as price breaks out of our zone, or should we wait for it to retrace to the breakout level? There’s …
Anyone who uses price action to trade the Forex market no doubt knows that it can offer plenty of lucrative setups. Today we’re going to break away from one of the most conventional methods and introduce you to a brand …
Happy Monday, traders! Skimming through some charts first thing this morning, the EURUSD weekly jumped out with a couple of potential setups occurring. Consider the chart below: What we’re seeing here is a clear level of demand (blue) and a …
Morning, Traders. Check out Bitcoin on the weekly chart. In this case, I’m using the BTCUSD chart, but you could just as easily be trading actual BTC instead of CFDs. I never thought I’d say this but it looks as …
Hey there Folks, Happy Friday! A quick little post to bring to attention the formation of a potential H&S pattern on the DAX, weekly chart as per below. You’ll remember we covered the H&S pattern here. What I like about …
We’re going to cover the next patterns in our TA series, Flags & Pennants, both of which are Forex continuation patterns. Flags and pennants form when price rallies, consolidates sideways or retraces slightly, and then continues in its previous direction. …
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