Crypto & Forex

The most important consideration in trading is the direction of the overall trend. This is especially true in Foreign Exchange as trends tend to stay in place longer than in any other market. The reason is that FX reflects actual money moving from one economy to another. Whether the flow of money from one economy to the other is caused by trade between the two economies or investments (capital flows), once those natural forces are in place, they can stay in place for extended periods of time. It is sort of like a fully loaded supertanker in the open ocean at full speed, even if you cut the power, it will continue to drift in that same direction for an extended period of time.

How do we determine the overall trend? The first step is to just look at the chart. The strongest trends should be visible from across the room. A currency pair’s position in relation to the 200 Day Simple Moving Average is also a popular method. Support and Resistance lines can help the trader look for entries in the direction of the overall trend.

• The trade begins when a trader takes a long position based on a Slow Stochastics crossover signaling a buy. When the trade is entered at that point, the stop is located at the level labeled “Initial Stop”.

As the trade progresses to the upside, and as price action takes out each successive high, the stop is moved up to the next higher low.

Looking at the chart for example, when price moves above the high labeled #1, the stop is moved from the Initial Stop level to Stop #1. As price takes out the next high at #2, the stop is trailed from Stop #1 to Stop #2. This procedure continues as long as price continues to advance and make higher highs and higher lows.

We can see, however, that price retraces below Stop #4 thereby taking the trader out of the trade with a profit of about 325 pips.

Though still a beginner in forex trading, but i want to focus Mainly on trading through understanding support and resistance, is there a platform or an app i can use in learning this?

Have you ever tried gambling with your crypto currency? What was your experience?

Jim cramer is a name most crypto enthusiasts are familiar with but know little about. Who exactly is he and what gives him this degree of influence in crypto and markets?

Pamm account help trader’s who doesn’t have good trading experience to make money while they engaged in some others things ,so do you invest in pamm account.

Do you really think that heding is the best approach to recover your loss trade in the forex trading market

What’s the safest way for Nigerians to buy and store cryptocurrency without using a VPN

Which crypto exchange are reliable for Nigerians and doesn’t require VPN access? And how can I start learning forex trading with just #20,000 – what initial steps should I take?

I stopped making crypto claims from crypto faucets because it was looking a waste of time for me. Do you have new ones you can recommend that are worthwhile