The Spinning Top candlestick pattern is a type of single-candle formation used in technical analysis to indicate indecision in the market. It features a small body located centrally between upper and lower shadows (or wicks), which are generally of...
Soft currency and hard currency are terms used to differentiate between two types of currencies based on their stability, convertibility, and acceptance in the global market.
Keeping a Forex trading journal is important because it helps traders improve their performance, discipline, and decision-making over time. A trading journal acts as a personal record where traders document every trade, including entry and exit...
Patience and discipline are closely connected in Forex and often work together to improve a trader’s performance. Patience is the ability to wait for the right trading opportunities, while discipline is the ability to follow a trading plan...
As the market grows, traders must continuously improve their skills, develop new methods of analysis and develop trading strategies. This strategy involves acquiring liquidity, which enables traders to simplify their analysis and trade according to...
In forex trading, the accumulation and distribution phases are important concepts used to understand market behaviour before major price movements occur. These phases are closely linked to the actions of large institutions, banks, and smart money...
A high-probability order block is a price zone in Smart Money Concept (SMC) trading where institutional traders, banks, or large market participants are believed to have placed significant buy or sell orders. These zones often become areas where...
Nonfarm payroll figures give economists an idea of how strong the labour market is. Non-farm payrolls are important for day traders because they act as a catalyst for volatility. As one of the most anticipated news announcements, the NFP has the...
Traders need both technical and fundamental ability to trade properly in the market. Technical analysis involves past price data to predict future price action. Fundamental analysis involves world events, news, inflation, etc. Those who really want...
The three types of forex market analysis can be combined by traders. The following steps can be taken: