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With a little practice, you’ll be able to spot potential forex support and resistance areas easily.
What does "JPY" pair mean in full?
Anonymous Quiz
0%
Jungle Poison Yam?
0%
Just Pure Yen?
2%
Japanese Yang?
93%
Japanese Yen?
5%
Just Probably You?
WHAT DOES ONE CANDLE-STICK PATTERN SHOW?
Anonymous Quiz
73%
Low, High, Open, Close
3%
Peak, Valley
0%
Less, Big
15%
Open, Close
10%
High, Low
LESSON 4: TREND LINES
Trend lines are probably the most common form of technical analysis in forex trading.
They are probably one of the most underutilized ones as well.
If drawn correctly, they can be as accurate as any other method.
Trend lines are probably the most common form of technical analysis in forex trading.
They are probably one of the most underutilized ones as well.
If drawn correctly, they can be as accurate as any other method.
Unfortunately, most forex traders don’t draw them correctly or try to make the line fit the market instead of the other way around.
In their most basic form, an uptrend line is drawn along the bottom of easily identifiable support areas (valleys).
In a downtrend, the trend line is drawn along the top of easily identifiable resistance areas (peaks).
In their most basic form, an uptrend line is drawn along the bottom of easily identifiable support areas (valleys).
In a downtrend, the trend line is drawn along the top of easily identifiable resistance areas (peaks).
To draw forex trend lines properly, all you have to do is locate two major tops or bottoms and connect them.
What’s next?🤔
Nothing.
Uhh, is that it?😟
Yep, it’s that simple.😊
What’s next?🤔
Nothing.
Uhh, is that it?😟
Yep, it’s that simple.😊
THERE ARE 3 TYPES OF TRENDS:
Here are trend lines in action! Look at those waves!👇🏼
Here are trend lines in action! Look at those waves!👇🏼
WHAT'S THE SUM OF ALL THE MONEY RECORDED CIRCULATING IN THE FOREX MARKET THIS YEAR?
Anonymous Quiz
5%
17 Million USD
19%
56 Billion USD
0%
22 Billion USD
67%
14 Trillion USD
9%
800 Thousand USD
NAME TWO TYPES OF FOREX BROKERS?
Anonymous Quiz
68%
Dealing desk & no dealing desk
15%
Mentor Brokers & no Mentor brokers
0%
Commodity desk & no commodity desk
5%
Complex desk & no complex desk
13%
Commission desk & no commission desk
A Westerner by the name of Steve Nison “discovered” this secret technique called “Japanese candlesticks,” learning it from a fellow Japanese broker.
Steve researched, studied, lived, breathed, ate candlesticks, and began to write about it.
Slowly, this secret technique grew in popularity in the 90’s.
To make a long story short, without Steve Nison, candlestick charts might have remained a buried secret.
Steve Nison is Mr. Candlestick.
Steve researched, studied, lived, breathed, ate candlesticks, and began to write about it.
Slowly, this secret technique grew in popularity in the 90’s.
To make a long story short, without Steve Nison, candlestick charts might have remained a buried secret.
Steve Nison is Mr. Candlestick.
WHAT ARE JAPANESE CANDLESTICKS?
The best way to explain is by using the picture above👆🏼
Japanese candlesticks can be used for any time frame, whether it be one day, one hour, 30-minutes – whatever you want!
They are used to describe the price action during the given time frame.
Japanese candlesticks are formed using the open, high, low, and close of the chosen time period.
The best way to explain is by using the picture above👆🏼
Japanese candlesticks can be used for any time frame, whether it be one day, one hour, 30-minutes – whatever you want!
They are used to describe the price action during the given time frame.
Japanese candlesticks are formed using the open, high, low, and close of the chosen time period.