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WEEKLY ANALYSIS TRADE SETUPS: GBPUSD & EURJPY - (18 - 22 Nov, 2019)📈📊💰

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On the daily chart of the British Pound vs the US Dollar (GBPUSD) pair, we’re looking at a breakout out of a major descending channel. Price has been on a downtrend for one year and 7 months. Eventually, bulls took over and took price higher breaking out of the descending channel.

Forex Market Analysis

WEEKLY ANALYSIS TRADE SETUPS: GBPUSD & EURJPY - (18 - 22 Nov, 2019)📈📊💰

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On the daily chart of the British Pound vs the US Dollar (GBPUSD) pair, we’re looking at a breakout out of a major descending channel. Price has been on a downtrend for one year and 7 months. Eventually, bulls took over and took price higher breaking out of the descending channel.

WEEKLY ANALYSIS TRADE SETUPS: AUDNZD & XAUUSD - (11 - 15 Nov, 2019)📈📊💰

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The Australian Dollar vs the New Zealand Dollar (AUDNZD) pair on the weekly chart, we have a complete formation of a double bottom. The pattern broke out 9 weeks ago and has since retested the neckline upon which it was supported. We can base our bullish bias on this event.

WEEKLY ANALYSIS TRADE SETUPS: AUDCHF & USDCAD - (04 - 08 Nov, 2019)📈📊💰

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We’re revisiting the Dollar vs the Canadian dollar pair (USDCAD) which we covered 3 weeks ago. The setup was an ascending triangle on the daily timeframe. On the daily chart it is quite clear that the direction the price took following the breakout of the pattern is downwards.

WEEKLY ANALYSIS TRADE SETUPS: EURNZD & CADCHF - (28 - 01 Nov, 2019)📈📊💰

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On the daily chart of the Euro vs the New Zealand dollar (EURNZD), price has been consolidating in an uptrend forming an ascending wedge. Prices broke out below the pattern and came back for a possible pullback to test the lower boundary for resistance. At the moment, the price has been resisted as it has been unable to get back to the pattern. However we need to affirm the retest by a bearish candlestick.

Forex Articles

THE BLUEPRINT OF A TRADING PLAN

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A trading plan is the ‘business plan’ for us, traders. The most cognizant definition of a trading plan is ‘a well written guide that is prepared when the market is closed to inform your actions when the market is open.’ That kicks the beginning of the real talk! Any trader without a properly documented trading plan that guides all their trading actions when the market is open is doomed to fail. It is the surest tool that keeps us disciplined while trading the forex markets.
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IS FOREX TRADING A LEGITIMATE BUSINESS?

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Is forex trading legitimate? We are talking about the most liquid financial market in the world where more than 5.3 trillion dollars is exchanged every day. In economics, we call it an ‘over the counter’ business. This means than no one institution, no one retail company/Individual, no one country can control the forex markets. It is this high liquidity and stability that causes volatility, i.e. prices of different currencies and commodities moving up and down frequently and continuously.

Mastering Your Trading Psychology

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Even though you may have the expertise in Forex Trading, that is not the only factor that determines your long term success as a Forex trader. You may have all the knowledge and the know-how on Forex trading strategies, efficient and faster platforms and risk management but without knowing how to manage your emotions, you cannot become successful in trading Forex. Remember that precious money is involved while trading and it can be easily lost. In this blog, we will discuss about the kind of emotions that a Forex Trader should avoid to achieve success.

What is forex?

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Forex Trading is basically the act of buying and selling currencies. In a typical foreign exchange transaction, an entity purchases one currency by paying with another currency.
FourthStreet Consultants trading-vs-hunting

TRADING Versus HUNTING

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Today’s article, Trading-vs-Hunting is inspired by a book. ‘The One thing’ is one of the greatest books I have read and would strongly advice you get. In his book, Gary Keller undertakes to cover in detail the greatest people and the biggest…
Forex Trading as a business

FOREX TRADING AS A BUSINESS

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What comes to your mind when you hear or think about forex trading? What makes you wake up every day to open the markets and initiate positions? Is it the excitement that comes with the ever volatile currency markets where 5.3 trillion dollars…
FourthStreet Consultants - High Probability Trading

HIGH PROBABILITY TRADING

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‘When it rains gold, put out the bucket, not the thimble’ is one of the many quotes by Warren Buffet that I love. More Importantly, I have highlighted it at the beginning of this article as it is relevant to our topic. We shall indulge more…