Fibonacci Ratios can be used in the financial markets to find potential support and resistance levels. They can also be used to find potential price targets.
If you’ve ever wanted to learn how to use Fibonacci Ratios in your trading, I’ve put up two pages on how to use the Fibonacci Retracement and Expansion (a.k.a. Extension) [...]

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There are 3 new pages on this site on using charts to trade the forex. It took me about 2 hours to create each page, so I hope there are some things that you can learn from them!

Here are the 3 new pages:

Using Trend Lines
Identify Support and Resistance Levels using Historical Price
Reading and [...]

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In a previous post to illustrate the possible use of the ADX, the USDCHF was used as an example. You can view the previous post here.
Here’s what happened after the post was published.

1-2-3 Chart Pattern

I’ve marked out the 1-2-3 chart pattern on the above chart. The trade entry would have been placed on the break [...]

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Earlier in one of my posts, I outlined a possible chart pattern trade setting up in the USDCAD. You can read the initial post here.

Today, I’ll follow up the trading lesson with the USDCAD Head and Shoulders Chart Pattern.

Following Up With The USDCAD Chart Pattern Trend Trade

You can see in the chart attached that the [...]

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Is the EURUSD breaking out to the upside?
Using some basic technical indicators, let’s take a look at the EURUSD on the daily chart. I’ll share some thoughts on the interpretation of the technical indicators, before looking at the prices on the charts.
Technical Indicator Analysis

The ADX has broken out above 20, which indicates that trend strength [...]

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One of the ways to determine the strength or “trendiness” of a trend is through the use of the ADX. While there are some systems that are built around trading the ADX, the most basic use of the ADX is determining the strength of the current trend.

Take a look at the chart of the USDCHF:
(click [...]

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A Divergence between price movement and indicator strength usually signals the possibility of a weakening trend.

While by no means is it a fail-safe signal, when used properly and combined with other entry parameters, it can create trades with potentially large profits. In this case, the divergence between price and Moving Average Oscillator signaled the potential [...]

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