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17 August 2023
Dual Candlesticks Patterns
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2 August 2023
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1 August 2023
What Is the Definition of a Pivot Point in the Forex Market?
Pivot points are technical analysis indicators used by traders to identify potential support and resistance levels in the forex market. They are calculated using the high, low, and closing prices of a currency pair over a given period of time. The pivot point itself is simply the average of these prices. By plotting these points on a chart, traders can easily identify areas where price may reverse or pause its current trend. In the forex market, pivot points are used to identify key levels that need to be broken for a trade to be profitable. These levels act as support and resistance areas that can help traders determine when to enter or exit trades. For example, if the price breaks above the pivot point, it could indicate an uptrend is...
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19 May 2023
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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...
