Archive for January, 2019

  • All currency trading is done in pairs. Unlike the stock market, where you can buy or sell a single stock, you have to buy one currency and sell another currency in the forex market. Next, nearly all currencies are priced out to the fourth decimal point. A pip or percentage in point, is the smallest increment of trade.

    USDCAD PROFIT

    Entry taken again, but this time I was able to score a support line from the 4 hour chart. I…

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  • On the daily chart, this line is the mid point of the 52 day high-low range, which is a little less than 3 months. The default calculation setting is 52 periods, but can be adjusted. This value is plotted 26 periods in the future and forms the slower Cloud boundary.

    USDCAD PROFIT

    I took another punt at USDCAD, but again I did not follow my strategy. I was unable to draft a…

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  • The relative strength index (RSI) is most commonly used to indicate temporary overbought or oversold conditions in a market. An intraday forex trading strategy can be devised to take advantage of indications from the RSI that a market is overextended and therefore likely to retrace.

    USDCAD BREAKEVEN

    There was never really an opportunity here. I forced this trade through. The 1, 5 and 10 min charts were…

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