Talking Points: Volume can increase our win rate when used properlyLarger volume during a breakout can confirm the move is valid Volume is an extremely popular trading tool when trading stocks, options, futures, and many other instruments. But when it comes to Forex, we do not see many traders using volume. The reason is that the Forex market is decentralized and the overall market volume is not available. The solution for this is FXCM’s new Real ...
Talking Points Breakout traders should first find support & resistanceEntries can be set as close as 1 pip above these valuesSupport and resistance can also be used for managing a position Scalpers have a variety of choices when it comes to an execution strategy. This decision should be decided after carefully evaluating current market conditions for the currency pair of their choosing. Today we will continue the Definitive Guide to Scalping ...
Talking Points: GBP/JPY Technical Strategy: FlatSupport: 171.79, 171.26, 170.61Resistance: 172.64-83, 173.33, 174.01 The British Pound is attempting to overturn the down trend initiated against the Japanese Yen in early July above the 175.00 figure. Near-term resistance is in the 172.64-83 area, marked by the 38.2% Fibonacci expansion and a falling trend line. A break above that on a daily closing basis exposes the 50% level at 173.33. Alternatively, a turn below ...
Talking Points USD/JPY Technical Strategy: Sidelines PreferredDaily Close Below 104.00 Suggests A ‘False Breakout’Parade of Dojis Highlight Indecision Amongst Traders The USD/JPY bulls have seemingly lost their grip on the pair after a Doji signaled hesitation from traders near 104.00. The daily close below the critical barrier warns of further weakness and may set the scene for a retest of the 103.00 floor. Daily Close Confirms ‘False Breakout’ ...
EURUSD 1.3017 could produce an important low if reachedUSDJPY breaks outAUD relative strength EUR/USD Weekly -“Long term, a failed breakout and top would keep with the pattern of 3 year cycle tops. 1.3750 is an important reference point (year open).” -The break of 1.3476 completed a topping process with targets ...
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