The diamond patterns in forex earn their name because when the pattern is completed and boundaries are drawn in with trend lines, they form the four sides of a diamond. These diamond patterns are reversal patterns, and their appearance at the extremes of the trend signal a market turning point or reversal. There are two […]
Read Some MoreIf you are to succeed in this journey we call Forex trading, you cannot run away from the concept of support and resistance. You need to know when bullish runs will take a breather, and you also need to know when traders will tire of selling. Some of you have at one time or the other, […]
Read Some MoreIn my last article I wrote about the different ways to use a moving average, click here to read more about it. This is part 2 of that series, focusing on another non-traditional use for the MA. Use Number 3 – Using Moving Averages as Support and Resistance Levels A popular use of Moving Averages […]
Read Some MoreEveryone interested in trading has probably used or at least tried a Moving Average at some point in their trading career. But most only apply the Moving Average (MA) in the conventional sense, as a trend trading tool. However the MA can be used in other ways too and we’ll look at the different ways […]
Read Some MoreThe last 2 weeks we focused on finding divergence signals on the MACD, you can read about it here Part 1 and here Part2. But divergence can show up on other indicators too and we’ll go over some of them here. Let’s start with the Relative Strength Index (RSI). We’ll use the most common and […]
Read Some MoreWhen to Trade MACD Divergence + Stop Loss and Take Profit Levels Last time we talked about how to spot a MACD divergence and we looked at the different types of divergence, regular and hidden. See Part 1 HERE. Today we’ll go over regular divergence in more depth, explaining where to put the stop loss […]
Read Some MoreDivergence can be one of the more powerful signals in your trading arsenal if used correctly. Today we’ll look at the MACD and the divergence signals it produces, and we’ll use the most common settings for the MACD which are 26 for the Slow EMA, 12 for the Fast EMA and 9 for the MACD […]
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