reading forex charts

trade with CCI indicator. Checkout Nial's Professional Trading Course here. Let's walk through the numbers on the screenshot below: 1 - CCI is in an overbought zone. Conversely, in a downtrend we see Lower Highs and Lower Lows, and when price breaks above the previous lower high, its a strong indication that the downtrend might be ending. It goes as follows: When CCI moves above 100, there is a strong uptrend confirmed, therefore traders should open a Buy position.

See Below For Details of Suggested Brokers Charts. The first thing to understand about trend identification is that it is not a chart game forex perfect science. There is always a bias, and as beginner traders especially, you would be well served to stick with. In 2016, Nial won the Million Dollar Trader Competition. "Milestones in the history of thematic cartography, statistical graphics, and data visualization" (PDF). When CCI moves above Zero, traders would Buy the currency expecting a newly changed trend to hold. If all else fails, zoom out on a daily or weekly chart and take a step back and just ask yourself, Is this chart falling or rising? Does the price action repel down as in a downtrend or bounce up as in uptrend? If you see price action signals that are producing substantial movement in-line with the trend, this is another confirming factor for your directional bias on a market. Opposite true for downtrends and readings below -100. We can see an uptrend was in place in the chart below, as you can see from the clear pattern of higher highs and higher lows.

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