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How to Trade the Majors with Currency Crosses
Even if you never wish to trade currency crosses and prefer to stick to the majors, you can use crosses to aid in your forex trading selections. Currency crosses can reveal information about each major currency pair's relative strength.
How to Trade Currency Crosses With Fundamentals
Let's imagine you've done some research and checked the BabyPips.com economic calendar (shameless promotion! ), and you've discovered that the Japanese economy isn't doing so well at the moment.
Trade Interest Rate Difference
By selling a currency with a lower interest rate compared to a currency with a higher interest rate, you can profit from the higher price as well as the interest rate difference (also known as the carry trade).
What is a Currency Cross Pair?
The U.S. dollar was known as a "vehicle cash" since the money was utilized as the mode of trade for worldwide exchanges. For instance, to change their U.K. sterling into Japanese yen, they would initially need to change over their sterling into U.S. dollars, and afterward convert these dollars into yen.
Is this a trend retracement or a trend reversal?
Nobody wants to be smacked by the "Smooth Retracement," yet it does happen from time to time.
Divergences are NOT a Trade Signal
As a trader, bear in your mind that we use divergence as an indicator, not as a signal to enter a trade, and there are too much false signals from the divergences so depending ok divergences only to trade would not be smart.
Divergence Cheat Sheet
Divergence is a well-known concept in technical analysis that describes when the price is moving in the opposite direction of a technical indicator. Note that divergence is not a trading signal but rather an indicator.
When trading divergences, how to avoid entering too early
While divergences are an excellent tool to have in your trading toolbox, there are situations when you may enter too soon since you did not wait for more confirmation.
What Is The Best Way To Trade Divergences?
What Is a Regular Divergence and How Do I Trade It?
Divergence in the Shadows
Divergences can be used to indicate a probable trend reversal as well as a possible continuance of the trend (price continues to move in its current direction).
Divergence on a regular basis
A regular divergence can be seen as a hint of a trend reversal. Bullish and bearish regular divergences are the two forms of regular divergences.
Divergences in Trading
What if you were already in a long position and knew exactly when to quit, rather than watching your unrealized gains, such as a potential Aston Martin down payment or a pair of Christian Louboutin high heels, vanish before your eyes because your trade reversed direction?
Elliott Wave Theory in Summary
Fractals are fractals, and Elliott Waves are fractals. Each wave can be divided into pieces, each of which is a near-identical duplicate of the whole. This trait is referred to as "self-similarity" by mathematicians.
3 Cardinal Rules of Elliott Wave Theory
When it comes to wave labeling, there are THREE cardinal "cannot-be-broken" laws. So, before you start using Elliott Wave Theory in your trading, you should familiarize yourself with the following guidelines. Failure to accurately categorize waves could lead to a devastating consequences on your balance.
What is Heikin Ashi and How Do You Calculate It?
How is Heikin Ashi calculated? Let's have a look at how Heikin Ashi candlesticks are calculated and displayed on a graph.
How to use Pivot Points for Range Trading
Range trading is an active investing strategy that identifies a range at which the investor buys and sells at over a short period.
Cheat Sheet for Chart Patterns
The main classic chart patterns are mentioned here, along with when they are formed, what type of signal they provide, and what the next expected price move is.
Understand the three major types of chart patterns.
Reversal patterns are chart formations that indicate that a current trend is poised to shift direction.
Bearish and Bullish Pennants and How to Trade Them
Pennants, like rectangles, are continuation chart patterns that form following big advances. Buyers and sellers often take a breather after a large upward or negative move before continuing to move the pair in the same direction.
How to Trade Breakouts Using Rectangle Chart Patterns
When the price is bordered by parallel support and resistance levels, a rectangle is produced on the chart. A rectangle represents a moment of consolidation or hesitation between buyers and sellers as they trade punches but neither has the upper hand.
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