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Pinbar Trading Strategy for Bigger Profits
Pinbars are very important candlesticks in forex because they signal market reversals. The pinbars themselves are individual candlesticks, although some authorities describe pinbars as the “nose in between the right and left eye”. This signifies that at the bottom of a downtrend, the pinbar is found between a bearish candlestick and a bullish candlestick, and […]
Read Some MoreTrading the Cup and Handle Pattern
William O’Neal gave us the cup and handle patterns in his 1988 book titled “How to Make Money in Stocks”. Even though this chart pattern was initially developed for the stock market, the forex market can also be traded with chart patterns and so the cup and handle pattern has been successfully applied to the […]
Read Some MoreProfiting with Rounding Tops and Bottoms
Rounding tops and bottoms are yet another set of chart patterns less popular but effective at sucking profits from the Forex market if used correctly. They are both reversal patterns that signify the end of a trend and the beginning of a new one. Rounding bottoms are formed when an arc is traced round the […]
Read Some MoreTrading the Diamond Patterns
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 MoreHow To Approach Your Trading Day
Today, we will go through the processes that constitute the correct approach to a typical trading day for a forex trader. The most important component of a typical day in the trading business is to first understand the sentiment of the market. A trader who understands what the prevailing market sentiment or feeling is will […]
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Tweezer Tops and Bottoms
In today’s article, we will discuss another set of candlestick patterns which are not very popular, but will yield profits for those traders who know how to use them. These are candlesticks known as Tweezers, and the two patterns to be discussed are the Tweezer top and Tweezer bottom. As the names imply, they signal […]
Read Some MoreTrading the Double Bottom Pattern
Today’s topic is on how to use another common chart pattern to pick up pips from the Forex market otherwise known as the DOUBLE BOTTOM. The double bottom is a bullish reversal pattern that signifies when prices have bottomed out and are ready for an upside reversal. It is like the currency pair is saying: […]
Read Some MoreTrading the Double Top Pattern
Today we will talk about yet another chart pattern that traders can use to glean profits; the DOUBLE TOP pattern. The double top is a bearish reversal pattern that signifies when prices have topped out and are ready for a reversal. The double top is made up of two successive peaks that are formed as […]
Read Some MoreTrading the Head and Shoulders Pattern
The “head and shoulders” pattern is one of the better chart patterns seen in the Forex market which can be traded for good profits when it appears. This pattern works very well on currency pairs that are known to trend. The “head and shoulders” pattern is formed by three price peaks, with the second peak […]
Read Some MoreShort Term Range Trading Strategy
We have all heard the saying that “the trend is your friend until it ends”. But what happens when the currency pair has no defined trend? What happens when the currency is range-bound or in consolidation? Is the asset still tradable? Many traders would simply walk out of the market, waiting until the next trend […]
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