Sunday, December 10, 2017

Forex price Action analysis and guide on how to build forex strategies that work in forex

I would start the explanation as a novice. What should a novice trader look to react in a Forex market -its expectations, excitement and emotions and interpertating power to think that every trade is a winner.
Not every pair and market is rated proportionally, say if there is a particular currency is being sold or being bought there has to be a given reason for it to move. Always remember that not all currencies move in tendum. Its about need and targets of institutions when one area is breached, they often look for next target and that really is not possible with all the pairs as some might have hit their targets.

Technical Analysis of Pound for the next week starting 10-12-2017

In the following chart, As per my Analysis a particular zone is engulfed but there are few strong candles that are catching reactions but if those areas are consumed with spikes then price will drop more strongly.

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