Gold Prices have dipped as the US Dollar gains strength ahead of this morning’s USD ISM Manufacturing data. Expectations for today’s event are set at 56.2, and as a high importance event its release is expected to directly affect US Dollar priced assets including Gold. Technically, gold prices have declined substantially after trading to yearly highs earlier in the week at $1,264.06. Now, prices are trading back below their 10 day EMA ...
First, before you can trade a price channel, you need to identify on your graph. This process can be done relatively easily using basic technical analysis. Traders should first identify and connect a series of highs and lows on your graph. Below we can see an example of this process on a EURAUD 4Hour chart. Notice how resistance has been formed by connecting the two previous highs to form a ascending line of resistance. Since resistance is rising, this means support should be rising as well as with ...
Talking Points: The moving average is easy to compute, and simple to chart.Moving averages can help to smooth out near-term noise and volatility.Moving averages can be used in a variety of ways, and we address the three most popular in this article. Simplicity: The indicator’s job is to translate the price action over the relevant period of time (using the inputs selected by the trader or user) to arrive at a particular message. The basis for all ...
Can You Trade Forex Well with a Small Balance? The Desire to Trade FX with a Small BalanceThe Limits of a Small BalanceThe Better Path Regardless of Risk “Ninety-five percent of the trading errors you are likely to make—causing the money to just evaporate before your eyes—will stem from your attitudes about being wrong, losing money, missing out, and leaving money on the table. What I call the four primary trading fears.” “Attitude produces better ...
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