Traders Choice FX Metatrader Broker
Metatrader Forex Broker

Contact Us | Why TCFX | FAQs | Funding | Account Forms

Call Us: 781-342-0335

Demo Account

Trading Strategies

Forex Strategy Section

Forex Basics

Introduction

Forex Basics

Risk Management and Trading Psychology

Forex Basics

Taking a Fundamental Approach to Forex Trading

Forex Basics

Key Economic Release Reports Across Various Currency Pairs

-

Trading the Euro with Germany ZEW Survey

-

Trading the Swiss Franc with the Swiss Trade Balance

-

Trading the US Dollar with the FOMC Minutes

-

Suggested Strategies to trade the US dollar with this economic release:

-

Trading the Yen with Japan Trade Balance

-

Trading the Aussie with Australia Trade Balance

-

Trading the Australian Dollar with THE RBA RATE DECISION

-

Suggested Strategies to trade the Australian dollar with this economic release:

-

Trading the Euro with Germany Trade Balance

-

Trading the Euro with the ECB Rate Decision

-

Suggested Strategies to trade the Euro with this economic release:

-

Trading the Euro with the ESI

-

Trading the Euro with the IFO Report

-

Trading the Greenback with the US Trade Balance

-

Trading the Kiwi with the New Zealand Trade Balance

-

Trading the New Zealand Dollar with the RBNZ Rate Decision

-

Trading the Sterling with the BOE Rate Decision

-

Suggested Strategies to trade the British Pound with this economic release:

-

Trading the Sterling with the UK Trade Balance

Forex Basics

Section 1 Taking a Technical Analysis Approach to Forex Trading

-

Types of Charts

-

Chart Patterns

-

Triangles and Trend lines

-

Volume

-

Indicators

-

Optimize Your Forex Trading With Bollinger Bands

-

Optimize your Forex Trading With the Moving Average

-

Optimize Your Forex trading with the RSI

-

Optimize Your Trading With the MAC-D

-

Grid Trading ? Concepts, Mathematics, and Money Management

-

Understanding Forex Correlation Concepts and Their Effect on Trading

Section 1 Taking a Technical Analysis Approach to Forex Trading

Types of Charts

The first and most simple type of chart is a line chart (figure 1). The line chart displays closing bid prices plotted over time. The line is constructed by connecting these points over the duration of the chart. The line chart is a very simple way to view performance, but does little more than display prices. Overall the line chart is the least effective way to analyze stock or currency performance.


(Figure 1)

Other than line charts there are candle and bar charts. In those charts each bar represents a particular time period. For example on a 1 hour char each bar/candle will represent a 1 hour period and depict the opening closing the high and the low price for that particular period. Technical analysts believe that graphing this information provides key insight to future price action.

The bar chart is a more in depth method of evaluation for technical analysis, because it gives the user much more information than the line chart. Each piece of price data is displayed by a bar that is constructed with 3 parts (see figure 2). The first part is the vertical line, with the top of the line representing the high bid price of the period and the bottom of the line representing the low bid of the period. On the left of the vertical line is a horizontal dash that represents the open bid price for that period and on the right of the vertical line is another horizontal dash that represents the closing bid price for the period.


(Figure 2)

Candle stick charting is another very popular charting technique. This technique was invented by ancient Japanese rice traders and still holds high merit today among technical analysts. In candle stick charting each period is represented by a vertical bar. In most cases a filled in bar signifies a down period and a hallow bar represents an up period. In an up period there will be a hollow vertical bar with the bottom of the bar representing the open, and the top of the bar representing the close. Furthermore, there will be a vertical line coming out of the bottom and top of this bar, the line on top representing the high for the period and the line on the bottom representing the low of the period (see figure 3). If the price action for a particular time frame happened to close at the high or the low the wicks will not be depicted on the candle.


(Figure 3)

Forex Strategy Section    Metatrader 4 Education
Forex trading involves significant risk of loss and is not suitable for all investors. While you can earn a cash bonus,
you can also lose money due to the inherent risk of trading. Read full disclosure.

The information contained in Facebook link: https://www.facebook.com/pages/Traders-Choice-FX/20302051398 is no longer current and should be disregarded.