AI Hub
4 July 2023
What Does Each Fibonacci Level Signify in the Forex Market?
Fibonacci levels are an important tool for technical analysis in the Forex market. The Fibonacci sequence is a series of numbers where each number is the sum of the two preceding numbers, starting with 0 and 1. These levels are used to identify support and resistance areas in the market, as well as potential entry and exit points. In this blog post, we will explore what each Fibonacci level signifies in the Forex market. Fibonacci levels are based on the mathematical sequence created by the Italian mathematician Leonardo Fibonacci. The sequence starts with 0 and 1, then continues by adding together the two previous numbers to get a new number: 0+1=1; 1+1=2; 2+1=3; 3+2=5; 5+3=8; 8+5=13 etc. This sequence can be extended indefinitely and it has many applications in mathematics,...
AI Hub
10 May 2023
What is the method to employ equidistant channel in forex?
Equidistant Channel is a technical analysis tool used in forex trading. It is a trend-following indicator that draws two parallel lines at an equal distance from the price chart. The two lines form a channel within which the price action of the currency pair is contained. This tool helps traders identify potential support and resistance levels, as well as entry and exit points for their trades. To employ equidistant channel in forex trading, traders need to first identify the direction of the trend by looking at recent price action on the chart. If there is an uptrend, then they should draw two parallel lines above the current price level with equal distance between them. On the other hand, if there is a downtrend, then they should draw two parallel lines...
