There aren’t many chart timeframes that mix comfort and versatility with data sufficiency. Luckily for all of you reading, the 30 minute BTC chart is one that excels at doing this. Whereas other chart timeframes may offer either solid information with reliable candles - without a quick response time - or the most recent movements - with a strong liability towards fake signals - the 30-minute chart sits right in a nice middle ground between those.
Buying low and selling high is the primary goal of every trader, and there is no better market to do that than a ranging market. When the price is bouncing continually between two levels on the chart trading is an easier task to do. We just need to buy at the bottom and sell at the top of that range and we can make a profit.
Being aware of the big picture is always important in trading, regardless of your preferred trading style or the trading system you are using. All trading strategies will benefit by trading in the direction of the larger - predominant trend. Similarly, a strong support or resistance level on larger timeframes will carry important implications for the price action on the lower timeframes. No matter whether you are a swing trader, day trader or scalper, it’s critical to always be aware of all the important levels and developments on the higher timeframes, like the monthly and the weekly charts.
Range trading can be defined as a trading style that aims to profit from those market situations when the price is moving sideways. The main argument behind this style of trading rests on the fact that the price practically spends most of the time moving sideways and thus the main idea in range trading is to find some type of a range in the market and look to sell at the top and buy at the bottom of that range.
There are hundreds or even thousands of different strategies, systems or techniques that you can use when trading forex or any other market. To become successful in trading the forex market, a good knowledge of candlestick patterns is useful as Price Action patterns are usually considered to be the most effective and accurate signals of the technical analysis. Now we will examine the inside bar forex trading strategy.
The London session breakout strategy provides excellent opportunities to profit on the high volatility and volume beginning at the opening of the London trading session at 7 AM GMT and lasting for the next 3 hours into the session. This strategy is based on the surge in volatility at the opening of the London session immediately following the much less volatile Asian trading session.
Talking about trading systems, Larry Williams’ OOPS system still remains to be one of the most popular trading systems today. Larry presented his short term trading methodology in his famous book “How I Made One Million Dollars Trading Commodities”. Today, a lot of different variations of this system are used worldwide by professional traders.
If you’ve been trading the Forex market for a while you’ve probably had the painful experience of buying right at the top or selling right at the bottom. Equally bitter, is the experience of closing a position on a whipsaw spike, only to watch the price go in your original direction for another 100 or 200 pips without you. This article partly explains why this phenomenon happens in the markets and further, we’ll discuss how you can profit from a common situation that often traps traders on the wrong side of the market.
The concept of the Master Candle is very popular in FOREX trading. There are different ways of looking at this trading strategy, but in its simplest form, a Master Candle is a candle which contains the highs and lows of at least the next four candles after it. The formation of a true Master Candle can be seen on a chart if the next four candles are consolidating inside of the tall Master Candle.
Rounding tops and bottoms are reversal patterns that form slowly and gradually, but once fully completed the eventual reversal is clearly evident and highly likely to occur. It’s interesting to note that rounding formations will often appear together with other technical reversal patterns, like head and shoulders, double tops or bottoms, wedges etc.