Post Tagged with: "false break"
Trade Responsibly Chapter 2: Trade With the Trend
You’ve probably heard the expression: “Make the trend your friend”. For many, this basic idea has already been forgotten and regarded as yet another cliché. Nevertheless, it is still very relevant. If your system involves looking at 1 hour charts, check out the 4 hours charts and the daily charts to get the bigger picture.
Haunted by False Breaks? There’s One Thing You Shouldn’t Do
You place a buy order above the current range and catch the break. The pair moves higher, but doesn’t get too far, retreats quickly back to range and catches your stop loss. It then makes the break once again, but this time with full force, moving significantly higher and reaching your previous Take Profit point.
Breakout Strategy with Binary Options
Forex binary options can be useful in cases of breakouts, including false ones. Here’s a possible way to utilize them, with a recent example on EUR/USD. I’ve already shown how to use binary options as an alternative to the traditional stop loss. In this case, I’m showing how to use them in the direction of
Make Your Life Easier By Trading The Higher Time Frames
Guest post from www.visionsofaffluence.com So many forex traders focus exclusively on short term fluctuations of the market and spend their time watching charts in an attempt to profit. They trade like this because they believe that it’s the best way to profit in the forex market. But that couldn’t be further from the truth. These
Forex Weekly Outlook – January 4-8 2010
The first week of 2010 is packed with important events. Starting as early as Sunday with Ben Bernanke and ending with the king of forex – Non-Farm Payrolls. In the middle, there’s a rate decision from Britain, European employment numbers and many important releases from Australia. The holidays are over, and the markets are ready
AUD/USD – Just a False Break
AUD/USD breached the major resistance line, went 50 pips beyond it, and retreated. What can we learn from this false break? The Aussie began the week very close to the major resistance line of 0.7267. This was on thin trading, when European traders were still celebrating Easter. In the middle of the New York session,