Opening Week Gaps Explained Best Trades What Are Opening Week Gaps? An opening week gap refers to the difference between the previous Friday’s closing price and the Monday (or Sunday in forex) opening price of a market. These gaps occur when markets reopen after the weekend and prices “jump” due to new information, breaking…
Prop Trader Confidential: Avoid This Pitfall There are various reasons why most prop traders fail, including inexperience, a lack of discipline, over leverage, poor risk management, lack of a trading plan, poor trading skills, inability to adapt to changing market conditions just to name a few. However, there is one rule that tilts…
Prop Trader Confidential: Avoid This Pitfall There are various reasons why most prop traders fail, including inexperience, a lack of discipline, over leverage, poor risk management, lack of a trading plan, poor trading skills, inability to adapt to changing market conditions just to name a few. However, there is one rule that tilts…
Forex Trading Tip: How to Use Retracements to Your Advantage Retracements are a necessary evil. They are a market’s mechanism to shake out weak longs or shorts when positions get too over extended on one side or the other.’ Why retracements are important As noted in Why Retracements Work and How to Use…
Forex Trading Tip: How to Use Retracements to Your Advantage – Forex Forum November 12, 2024 /Posted byGVI Forex / 229 / …
Weekly FX Chart Outlook – October 21-25 Weekly FX Chart Analysis The upcoming week has a light economic calendar, especially from the US in a forex market that seems to need news to create volatility. Arguing for consolidation, at least to start the week, is a light economic calendar and that there are no…
If you already possess a written trading or investment plan, congratulations—you are among the few. Developing a successful approach or methodology in financial markets requires significant time, effort, and research. While no plan can guarantee success, having one eliminates a substantial hurdle. Even if your initial plan is flawed, it provides a foundation to refine…
On Monday, the USDCAD rose to 1.37819 levels, followed by a pullback at 1.37500. Pair USDCNH continues this week with previous bullish consolidation. USDCAD chart analysis On Monday, the USDCAD rose to 1.37819 levels, followed by a pullback at 1.37500. This morning’s Asian trading session brought stability and initiated a recovery to the 1.37750 level….
Yesterday, the oil price retreated to a new weekly low of $72.48. The price of natural gas was under pressure yesterday after jumping to the $2.63 level. Oil chart analysis Yesterday, the oil price retreated to a new weekly low of $72.48. After that, the price managed to stop further decline and achieved a slight…
During this morning’s Asian trading session, EURUSD moved in the 1.08700-1.08900 range. Yesterday, we saw another test of the weekly open price by GBPUSD. EURUSD chart analysis During this morning’s Asian trading session, EURUSD moved in the 1.08700-1.08900 range. In the EU session, we continue in the same direction without major movements. We are waiting…