Author: FX

Back in 1969 when my buddies and I were still vibing to The Beatles’ Hey Jude, management trainer, Martin Broadwell, talked about the “four levels of teaching” to describe the work that needs to be done to learn a skill. Broadwell discussed teaching, but his ideas about competence levels became popular in psychology and self-development circles. What are these “levels of competence” and can they be applied to your forex trading journey? Level 1: Unconscious incompetence It may sound like a fancy insult, but this just means that you don’t know yet how unknowledgeable you are about the subject. You’ve probably heard…

A recovery in risk appetite has pushed volatile assets like bitcoin higher against the U.S. dollar! BTC/USD just bounced from a technical support zone and looks ready to test a key inflection point. Will the crypto pair extend its gains today? Bitcoin (BTC/USD) Daily Chart by TradingView If you missed yesterday’s market action, you should know that a better-than-expected labor market-related report in the U.S. encouraged risk-taking in the markets. Appetite for the safe haven U.S. dollar waned while “risk” assets like bitcoin shot up. Remember that directional biases and volatility conditions in market price are typically driven by fundamentals.…

The U.S. dollar gave up pips against “riskier” counterparts like the British pound following a U.S. data release. Will the momentum help extend GBP/USD’s months-long uptrend? We’re taking a closer look at the 4-hour chart: GBP/USD 4-hour Forex Chart by TradingView In case you missed it, the pullback in the weekly U.S. initial jobless claims released yesterday helped calm investors who were shouting “RECESSION!” in the streets. A sign that we may see an economic “cooldown” rather than a “recession” helped bump up risk-related currencies like the British pound higher against the U.S. dollar. Remember that directional biases and volatility…

The markets took a step back from pricing in their recession fears, leading to upticks for a lot of the major assets on Thursday. Which headlines helped boost market sentiment yesterday? We’re breaking them down for ya: Headlines: RICS: A measure of U.K. house price increases came in at -19% in July, more negative than June’s -17% reading Japan bank lending rate steadied at 3.2% y/y as expected in July BOJ Opinions Summary showed that members discussed further rate hikes and painted a picture of a more hawkish central bank bias Japan current account surplus shrank from 2.41T JPY to…

The world of financial trading can feel like a labyrinth, overflowing with complex charts, cryptic jargon, and a constant dance between opportunity and risk. Fortunately, for those navigating the ever-shifting tides of the market, a wealth of tools exists to aid informed decision-making. Among these valuable resources, technical indicators hold a prominent position, offering traders valuable insights into price behavior and potential market movements. This comprehensive guide delves into the intriguing realm of the Platinum MT4 Indicator, a tool specifically designed for the widely popular MetaTrader 4 (MT4) trading platform. Whether you’re a seasoned trader or a curious newcomer, this…

The ATR Channels and Super Signal Forex Trading Strategy blend two potent indicators to equip traders with a robust methodology for navigating the complexities of the forex market. At its core, this strategy harnesses the power of the Average True Range (ATR) indicator, a key tool for measuring market volatility. By understanding the average price range over a specified period, traders gain insights into potential price fluctuations, essential for setting realistic profit targets and managing risk effectively. Complementing the ATR is the Super Signal indicator, renowned for its ability to detect shifts in market trends and provide precise entry signals…

Cryptocurrencies have experienced a rebound from the massive sell-off on Monday, with Solana (SOL) leading the charge. Solana (SOL) has emerged as a strong contender in the cryptocurrency market, often referred to as the “Ethereum killer.” Despite recent volatility, Solana offers compelling reasons for crypto traders to consider adding it to their portfolios. 1. Strong Fundamentals Solana is one of the fastest blockchains, capable of processing over 65,000 transactions per second. This scalability supports a growing number of decentralized applications (dApps) and users, highlighting the platform’s robust fundamentals. Key metrics, such as increasing active users and decentralized exchange (DEX) volumes,…

The Bank of Canada (BOC) shared that the economy is seeing a cooling labour market. Will July’s employment numbers support the central bank’s dovish estimates? We have the points you need to know if you’re trading the event! This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link

EUR/NZD seems to be done with its climb, as the pair is forming a reversal pattern on its 4-hour time frame. Are we about to see confirmation soon? EUR/NZD 4-hour Forex Chart by TradingView After a couple of failed attempts to bust through the resistance at the 1.8500 major psychological handle, EUR/NZD is now testing the neckline support around 1.8100. A break below this area could be enough to confirm that a downtrend is in the cards, potentially sending the pair lower by the same height as the chart pattern or roughly 400 pips. But will the floor give way…

The foreign exchange market, or forex for short, can be a thrilling yet intimidating arena for aspiring traders. Prices constantly fluctuate, influenced by a complex web of global economic factors, news events, and even investor sentiment. Fortunately, technical analysis tools can equip traders with valuable insights to navigate this dynamic landscape. Here’s where the Price Channel MT4 Indicator steps in, offering a straightforward yet effective approach to identify potential support and resistance levels, gauge market trends, and ultimately, make informed trading decisions. Before diving into the specifics of the Price Channel MT4 Indicator, let’s establish a foundation in price channels…