If you are among the trader who like to check all the timeframes before taking your position according to your favorite timeframe, you may have some space problems. You need to have several monitors or laptops or you have to change the timeframe of your chart all the time and check the situation of the other times frames and then get back to the main timeframe that you always use to take your position. Read the rest of this entry »

I see that forex traders and also stock traders look for Heikin Ashi and smoothed heikin ashi more and more everyday. Maybe because they eliminate a lot of noise and show a clearer and sharper direction. I have already written an article about Heikin Ashi and the way that you can use it in your trades here: What Is Heikin-Ashi and How to Trade with It? Read the rest of this entry »

In forex or stock market, we can make or lose money when the price goes up and down. We need to be able to predict the direction of the market. Different traders do this using different methods but for most traders, technical analysis of the price charts is the easiest way. So they spend a lot of time to learn technical analysis. Read the rest of this entry »

In the article I wrote about technical analysis, I explained that everything you see on the price charts, including trendlines, triangles, pennants, flags and … are all created by support and resistance levels which are in fact selling and buying limit levels. In this article I want to talk about these formations in more details and show you some strategies that you can use to take proper positions. You can use the techniques you learn here both in forex and stock market. Read the rest of this entry »

Technical analysis is the science or skill of forecasting of the future movements of the price using the past movements and data.

Obviously the past movements can not guarantee the future movements and so technical analysis is not a hundred percent accurate and surefire forecasting but if you learn the technical analysis properly, you can make more correct predictions and so you will be in profit at the end. Read the rest of this entry »

I already knew that some traders use nothing but Pivot Points to trade but I had never used it because I had been stuck to my own trading system(s). This weekend I spent some time to research about Pivot Points and see how others use this indicator for their intraday trading and I found it really useful to have the Pivot Points on your charts even if we have a different trading system. Read the rest of this entry »

This is the question that I have been asked by forex traders so many times. What is the best place to put the stop loss and limit orders?

Before answering this question, I have to say that stop loss is a must. You have to have it when you trade even if you are an intraday trader and you sit at the computer and watch the price movement and all your positions are closed at the end of your trading day. Read the rest of this entry »

We are so close to the end of the market this week. I am sure those of you who have been stuck to the computer during the week will take a breeze at the weekend to become refreshed for the next week trading. That’s a good idea.

Just in case you found any free time, take a look at the below reports I published and read the “tip of the day” once again. I always find and learn new things when I read an article for the second time. Read the rest of this entry »

Candlesticks are one of the most important tools we have in the forex and stock market technical analysis. The information that the candlesticks give us are the best and most accurate. If you like to become a good trader and you like to have successful and profitable trades, it is highly recommended to learn to read the candlesticks’ signals. Read the rest of this entry »

Fibonacci is a sequence of numbers discovered by Leonardo Fibonacci, an Italian mathematician: 0, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584, 4181, 6765, 10946, 17711, 28657, 46368, 75025, 121393 ……. Read the rest of this entry »