Understanding Forex Trading – How to read an intraday chart

What is an intraday chart? Intraday charts have a time limit of one day or less than 24 hours. So, a 1 minute, 5 minute, 15 minute, 30 minute, 60 minute and 240 minute charts are all intraday charts. The 240 minute chart is also known as the 4 hour chart. This is the same as reading an intermittent chart for different time periods.

You can view these timeframes using bar time or candlestick charts. A bar chart and a candle chart have some similarities and some differences. In a bar chart, periods like 1M, 5M, 30M, 60M or 240M are presented with a bar. This bar will have a small horizontal bar to represent the opening, high, low and close to that time period. There are some types of bars that are considered extremely important and day traders prefer to trade them.

On the candle chart, on the other hand, periods like 1m, 5m, 15m, 30m, 60m, and 240m are represented by a candle body that is open and closed. This candle body will have two wicks above and below the candle body which shows you the high and low of that time low if the closing price was higher than the opening price, we have a bullish candlestick and it is always given a light color like white or gray. And if the closing price was lower than the opening price, we have a bearish candlestick that is always given a dark color like black. There are many candlestick patterns that appear in these charts when it is considered to be the opposite of the important trend and the type of trend continuity.

These intraday charts are short term traders or more popular which are known as day traders by 1M chart very fast and there is a lot of noise due to very short time usage in these charts. 5M charts are also a bit faster. Both these 1M and 5M charts are used by scalpers who have to quickly enter and exit the market by grabbing a few pips at a time. One of the most popular charts is the 4H chart which many day traders use to trade in the Forex market. When you trade on this 4 hour chart, you will not need to monitor it more frequently than a low time frame chart that requires frequent monitoring. However, reading the charts on this intraday is almost the same. If you know how to read 4H charts, you’ll also be able to read low timeframe charts like 1M, 5M, 15M, 30M and 60M!

Currency Trading – Intraday positions

Over the last decade, currency trading has become very popular among retail investors and traders. Currency trading is now done online by millions of people from all over the world. There are many ways to trade in the foreign exchange market.

One of the most popular methods of currency trading is to take positions during the day. It is also known as daily trading. There are millions of day traders in the world who make a living from daily currency trading. Holding positions during the day means that you will open a trade and close it by the end of the day.

Intraday trading requires the use of M5, M15, M30 and M60 charts to most likely find trading structures. M5, M15, M30 and M60 represent 5 Minute, 15 Minute, 30 Minute and 60 Minute time charts. These are also known as intraday charts.

Trading on intraday charts requires a little practice as there are fast moving times. You will receive a lot of signals in the indoor charts today. The trick is to filter out false signals using confusion. You see at lower times, there is more noise compared to higher times. The sound means there will be fake trading signals.

As a day trader, you need to develop a system that filters false signals. The best system for filtering false signals is to use the scene where you are looking for confirmation with another indicator after receiving trading signals and only enter trading after confirmation.

What attracts many people to day trading is the fact that the stop loss required for most trades is small and does not exceed 20-30 points compared to requiring a higher stop loss than trading on daily charts. Another thing that attracts traders to work during the day is that positions are not held overnight.

This means that you can have a healthy sleep because you close all the positions you open every day and night. You will start anew every day. When there is a high probability of trading, open a position and close these positions by the end of the day.

The downside of taking intraday positions is that you will most likely have to follow that market throughout the day to trade. Sometimes you have to sit in front of a computer for hours. One of the most popular intraday trading strategies is to skin the market.

Scalping requires you to enter and exit the market quickly and pick up a few caterpillars each time you do so. Each scalp trade averages 10-20 caterpillars. There is daily trading that only focuses on combing, as trading usually lasts no more than 1-2 hours. You can even save in a matter of minutes!

How to find cryptocurrency predictions?

If you have invested in a cryptocurrency, you know that taking into account market conditions is paramount. As an investor, you need to know what is happening with different currencies and what other traders are saying about the future.

Therefore, if you want to make smart investment decisions, it is better to consider predictions about cryptocurrency. Fortunately, there are many sources on the Internet that allow you to research and search for predictions. This can help you stay ahead of others in the market. Make sure you stay away from scammers and other schemes that claim you will get rich overnight. Below are some credible sources of forecasts that can help you succeed as an investor.

TradingView

If you are looking for a reliable forecast source, check out TradingView. This platform offers great charting tools that anyone can use. It doesn’t matter if you are a newbie or an advanced user. This platform allows you to learn how different types of cryptocurrencies behave over time. So you can predict their behavior.

One of the main reasons why this platform offers reliable forecasts is that it has a wide community of experienced investors who are always ready to share their knowledge. Strictly speaking, more than 3.3 million active investors are part of this platform.

Finder.com

Finder – this is your ideal source if you want to get a valuable idea of ​​the future of cryptocurrency from various reliable authorities. In fact, Finder regularly consults with experts in finance and cryptocurrency and publishes their forecasts for other investors.

In addition, the platform works with experts from a variety of fields, such as news, finance and technology. Based on discussions with these experts the Finder can make accurate predictions.

Bitcoin-Wolf

Bitcoin Wolf is another great platform that can provide accurate predictions about cryptocurrencies. By joining the chat of this platform, you can chat around the clock with other experienced investors. In addition, you can take advantage of other great features offered by the platform, such as real-time alerts, peer counseling centers, technical analysis and so on.

This place is the best platform where you can talk about the future of these currencies. And the great thing is that the experts will give you a deeper understanding of this world and help you make informed decisions.

When it comes to investing in cryptocurrency, make sure you do your homework first. It’s great to consider predictions so you can make the right decisions. You need to pay attention to what other experienced investors think about the future. Alternatively, you might want to get expert opinion in this area.

Final thoughts

So, if you check the above sources, you will be able to get an idea of ​​the opinions of other investors in the field. By doing so, you can make better decisions that will ensure the profits of your business. It is better to check the forecasts regularly.

Blockchain & IoT – How "Cryptography" It is likely to go to Herald Industry 4.0

Although most people started learning about the “blockchain” because of Bitcoin, its roots and applications are much deeper than that.

Blockchain is a technology in itself. Bitcoin gives you power, and it’s basically the reason * so many * new ICOs are flooding the market. Creating an “ICO” is very easy (there are no barriers to access).

The purpose of the system is to create a decentralized database. This means, in particular, that a computer network (usually operated by some people) can act in the same way as a larger company rather than relying on data such as “Google” or “Microsoft”.

To understand the implications of this (and therefore where technology can lead the industry) – you need to look at how the system works at the grassroots level.

Founded in 2008 (1 year before Bitcoin), it is an open source software solution. This means that the source code can be edited by anyone. However, it should be noted that the central “repository” can only be modified by a few individuals (so the “development” of the code is not essentially free for all).

The system works with what is known as the cheap tree – the type of graphical data that was created to enter version data into graphical systems.

Merkle trees have been used in other systems; especially “GIT” (source code management software). Without becoming too technical, it basically stores the “version” of a data set. This version is numbered, so it can be loaded whenever the user wants to recall the older version. In the case of software development, it means that a set of source codes can be updated across multiple systems.

The way it works – that is, saving a huge “file” with updates to a central data set – is like “Bitcoin” and all the other “crypto” systems. The term “crypto” means “cryptographic”, which is a technical term for “encryption”.

Whatever the key operation, the “paradigm” that offers the industry the real benefit of a broader “chain” is almost certain.

The idea of ​​“Industry 4.0” has been floating around for decades. Often confused with the “Internet of Things,” the idea is that a new layer of “autonomous” machinery could be introduced to create even more efficient manufacturing, distribution, and delivery techniques for businesses and consumers. Although it is often played hard, it is never accepted.

Many specialists are looking at technology as a way to facilitate this change. The reason is that this interesting thing about “cryptography” – especially as shown by those like Ethereum – is that different systems built on it can be programmed to work with a layer of logic.

That’s the logic that the IoT / 4.0 Industry has lost so far – and why so many are looking at the “blockchain” (or equivalent) to give new ideas a basic standard for progress. This standard will give companies the ability to create “decentralized” applications that enable smart machinery to create more flexible and efficient manufacturing processes.

GBP / USD Seasonal Samples – Use a seasonality strategy to confirm entry and exit points on Forex

Usually we look at forex charts in chronological order, day by day, week by week and year by year. A typical chart shows the price path of a currency (pair) over many years and can provide a lot of information for use by technicians. However, there is another way to view currency charts and it is to look at them seasonally.
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So what is a seasonal forex chart, or a seasonal forex chart? For our purposes, seasonality is the tendency of a currency to go down or up at certain points in the year.

Instead, look at the currency data for the last 30 years in chronological order, and what if you take it every year (January to December) and you can bet every year on each other. All 30 years are then averaged and set to an initial value of 100 to give a single line showing how the currency operates on average between January and December over the last 30 years (below we will consider the averages of 5, 10 and 15 years). Will the average show a seasonal GBP / USD pattern when it usually gets higher in certain months or lower in others?
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Consider futures per pound below, but note that since futures per pound are traded against US dollars, we can use the patterns observed in the futures market to trade seasonal GBP / USD models. Thus, this information can be used in both the futures and foreign exchange markets.

GBP / USD Seasonal patterns – seasonality 5, 10 and 15 years

Indeed, there are constant models of GBP / USD seasonality, and we can see these models by looking at the seasonal futures chart per pound. These seasonal trends can be used to find convenient times to trade the GBP / USD currency pair (or futures per pound).

The seasonal chart shows the development trends of the pound over the past 5 years, 10 years and 15 years. Each average is different, and this is important for understanding seasonality –this is an average value, not a rule. In any year, the price may deviate from the seasonal trend, and traders do not have to fight it. However, we can find common features that are found in all three averages:

  • The pound usually forms a bottom in early to late March and then moves higher in late April.
  • From early May to mid-May the time is usually bearish.
  • The bottom is usually formed again in mid-May, we see progress above in early August.
  • The price usually peaks in early August and decreases in early September.
  • After October, our averages diverge from short-term (5 years), which do not provide the same information as with long-term average seasons (10 and 15 years), making seasonal trends less concise and less reliable at this time.
  • Averages are adjusting to form a peak in early November, and the price will drop in mid-late November. After that, the average values ​​diverge again.

Seasonality is not a tool to use on its own, but rather should be combined with a price structure analysis to determine entry and exit points. Yet seasonality does give us time windows where we can observe reversals of trends and feel more confident when we see the price pattern that points to the reversal during seasonal windows presented above.

It is important to consider the general market trend. According to trends, use the seasonal minimum for purchases. In general fall trends, use seasonal highs to cut or sell.

Money movement strategy

I recently tried to explain the reason I was making money on both real estate and the stock market between 2000 and 2005, but the economy wasn’t actually doing so well. So I did some research and found graphs showing the average level of the Dow Jones industry over the last 10 years. I also found Fed rate and real estate sales charts for the same period. When I compared the charts, I found some interesting correlations between the current real estate market, the cash flow rate and the stock market.
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I saw that the last time the real estate market had so many stocks was in January 1996. When I looked at the Fed’s rate in the same year, it also rose between 4.75 and 5 percent, and that’s where they are now 10 years later. So if we look at the stock market at the time, it also reacted the same way as it does now. With all this research, if you believe in a money movement strategy that assumes that wealthy investors tend to move money between stocks, bonds, real estate and the money market. Where do you think the stock market is heading? I firmly believe that over the next 2 or 3 years we will see very bullish activity in the stock market.
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Forex Trading Strategies – Guessing the Mysteries of Charts and Candlestick Patterns

If you use technical analysis as one of your foreign exchange trading strategies, you are probably using candlestick charts. Candlestick charts are one of three options (along with bar charts and lines) and are most popular with modern traders as they give the most vivid picture of what is happening in the market. But do you use them to the fullest?
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By studying the candlestick charts, you can immediately imagine the opening, closing, low and high prices for their chosen period. But that’s not all that candles can show.
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An experienced candlestick reader can gain a deep understanding of the mood, power and momentum of the market by simply studying the shapes and patterns of candles. Some successful traders abandon all metrics and simply focus on what the candlesticks show about the price action.
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Candlestick charts date back to the 18th century in Osaka, when the legendary rice trader Homa Munehis used them to spin the market. Japan’s long isolation meant that candlestick methods remained hidden from the rest of the world.
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But then merchant Steve Neeson explored the method of charting candlesticks in the 1990s from old Japanese documents. Nissan quickly appreciated the Zen-like beauty of the way candles are traded and continued to fight for the system in a series of popular books.
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Nissan’s books show in great detail many candles, including a dark cloud, a hanging man, morning and evening stars, and the famous doge with various incarnations such as dragonflies and mastiffs.
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You may be overwhelmed by reading such books, but in reality you just need a small group of candlestick patterns that can be used with confidence and clarity on a daily basis. You just need to know which models to focus on and how to correctly interpret what they tell you.
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Candles never lie, but predicting their message is not always easy. You need to take some time to understand what they are telling you. Make reading candlesticks one of your forex strategies and get ready for success in currency trading.
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USD / CAD turbulence in Forex charts

There have been a number of recent issues with the USD / CAD pairing that have been going through quite a bit of trouble lately. The pair has a number of trading firms that allow a large number of traders to call their forex brokers and place trades on various charts. The amount of business in this pair has grown late, and has brought many traders to the table in search of some opportunities. Combined with the major events that are taking place in the big changes and developments, the technical indicators have created some profit potential for the users. Especially day traders present here are taking advantage of the occasional fixed transfers and doing quite well.
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The Canadian dollar will be a reliable boost in oil supplies in conjunction with new natural gas measures in the United States. The Middle East oil supply is likely to make a huge difference in energy policy in this policy of drying up. Oil can become more severely tied to CAD on the Forex chart as time goes on. Considering the current price of oil in the same way as CAD, most people will consider the issue of the dollar against gold as a very good idea in the future. While the technical indicators are still going to be very helpful this new relationship between CAD and oil is only going to grow, and it is certainly a matter of finding out.
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Of course there is a balance that should always be reached before making a hasty decision. Moving forward in a way that will ensure the pair’s continued profitability also means looking at the current cost of crude oil. As the CADO improves with the rise in oil prices, this increase in shale oil collection methods will only get bigger and more violent. There are many possibilities that may make it difficult for a trader to consider them, but failure to do so can lead to unforgettable losses. The USD / CAD pairing may not be worth seeing right now, but there are many more to come in a few months, so keep in mind when deciding on a future business that it will never be EUR / USD in terms of mind opportunities May arise.
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Forex Charts – Use Technical Analysis for greater currency gains

If you look at any Forex table, you will see trends. If you use your technical analysis as the cornerstone of your Forex trading strategy, you can identify these trends and trade to make big profits.

There are many misconceptions about the use of Forex charts, so here we will explain how it works and give some tips for using technical analysis for greater currency gains.

What is technical analysis?

In essence, it is a study of price activity to identify trends – to identify repetitive graphic patterns that can be sold for profit.

FOREX graphic patterns repeat themselves – because they reflect a stable human psychology.

Many traders think that just learning Forex charts may not work – because supply and demand are not taken into account – but it works.

A simple equation will explain why.

Market perception (trader psychology) + Basics (supply and demand) = Price

Price movements reflect all the basics – the most important thing is how participants perceive them.

In today’s fast-paced world of communication, fundamentals are immediately apparent in price action – so technical analysis simply assumes that all known fundamentals are immediately visible in price action.

Some of the biggest price movements in history have occurred with little or no change in fundamental changes.

These price movements stemmed from human psychology, and currency technical analysis is capable of studying this. This gives you a huge advantage – the people who set the price for everything when you accept it.

The right price is the market price – so you see the reality rather than listening to the opinions of others.

Let’s look at three hypotheses based on technical analysis – currency technical analysis makes the following assumptions:

1. Discount in the markets

As we have explained, all the basics are quickly visible in the price. So you see the effect of the basics, and you see how people perceive them at the same time.

2. Sustainable trends

You get great trends in currency trading. It is enough to look at any currency table, long-term trends – weeks, months or years.

History repeats itself

The basis of technical analysis of currency is the recurrence of what happened in the past – because human psychology never changes.

Because chart patterns reflect changes in human psychology, certain patterns and tendencies will be repeated over and over again.

However, keep in mind that tables are an art, not a science.

Even if human behavior is repetitive, people can also be unpredictable – so you are trading by betting, not by certainty.

The good news is that by using technical analysis of currencies, you can make bets in your favor and make big profits in the long run.

Now let’s look at some tips for using technical analysis for greater profit:

1. Focus on longer-term trends

Currencies tend to reflect the basic health of the economy. This creates longer-term trends that last for months or years – so focus on long-term trends rather than short-term “market noise”.

2. Use a simple system

If you want to develop an effective Forex trading system, simplify – you need support and resistance and a few confirming indicators.

In online currency trading, it is a fact that simple systems work better – in a real and ruthless trading world because there are fewer elements to break.

3. Isolated trade

This is a key factor you should learn as part of your Forex trading education.

Don’t be influenced by other people’s opinions or news – you’ll hear convincing stories, but that’s it – and remember that journalists are not merchants!

If you follow the news or mix your emotions, you will join the company of the majority of traders – losers!

4. Be patient and disciplined

Don’t trade all the time – only trade when the system generates trading signals, and then trade with discipline.

A simple way to make big online profits

Using Forex charts the right way can be very lucrative – because they represent the most efficient and powerful way to make the most of your time in online Forex trading.