Author: Editorial Team

ForexPromos Editorial Team is comprised of a selection of hand picked editors that bring you the latest breaking news from the financial markets. We also provide forex educative articles as well as comprehensive fx broker reviews.
AxiTrader Review

AxiTrader Review

Forex Broker Reviews
AxiTrader is the trading name of AxiCorp Financial services Pty Ltd, which is based out of Australia and is regulated by the ASIC. Operating in a Non-Dealing-Desk environment, AxiTrader offers a transparent trading environment while adhering to the strict ASIC regulatory framework. Therefore, AxiTrader charges a commission of $3.5 or $7 round trip for a standard lot. Although the broker is based in Australia, customer support functions 24/5 and thus, opening account to verifying documents to processing withdrawals are quick and easy. AxiTrader's charts are based on GMT+3 timeframe. AxiTrader offers a wide choice of forex trading instruments that also includes a good choice of exotics, CFD's on Indices and Gold and Silver CFD's. AxiTrader does not accept clients from a the US, Jap...
Weekly Heiken Ashi High Low Trading Strategy

Weekly Heiken Ashi High Low Trading Strategy

Trading Strategies
The weekly Heiken Ashi high low (pivot) trading strategy is a simple trading method that makes use of only the weekly time frame. Besides the Heiken Ashi candles, the other indicators used are the high/low pivot points. The trading strategy is easy to use but takes a lot of time both for waiting for a signal and for the trades to reach their objectives. The basic principle of this trading strategy is based on the concept of highs and lows that are formed and the subsequent price action thereafter. In a nutshell, when price closes above a new pivot high, we buy or go long and if price closes below the recent new pivot low, we sell or short. This trading method is almost similar to a trend following method. The Heiken Ashi Candles are found on almost any charting platform and the pivot hi...
Trading with Ascending and Descending triangles

Trading with Ascending and Descending triangles

Trading Strategies
In our previous articles on chart patterns, we covered the Head and Shoulders pattern, the flags pattern (bullish and bearish flags). In this article, we explain the ascending and descending triangle chart patterns. These patterns work on the basis of breakouts. A break out is defined as price trading in a range and consolidating. When enough momentum is built, price tends to break out or break down with force. Break out trading is one of the many ways to trade although traders tend to get caught more than often. One of the most typical price action with trading break outs is that price often makes false moves before carrying on in the intended direction. When such a move occurs, most of the traders who went in early often get stopped out. While one might argue to wait for a break out t...
A simple Fibonacci Swing trading strategy

A simple Fibonacci Swing trading strategy

Trading Strategies
Some of the most profitable and consistent trading strategies are often those that are simple. The simplicity of the trading system is what puts off many traders. But of course this is a general tendency where traders think that the more complicated a trading system is, the better it performs. The Fibonacci swing trading strategy is perhaps the most simplest of trading strategies that uses the most minimal of indicators (2 Moving averages) and the Fibonacci retracement tool. The strategy works best on the 4-hour timeframe and is ideal for swing trading with an average trading hold period lasting for atleast a week. Fibonacci Swing Trading - Chart Set Up For the chart set up, we make use of the H4 time frame with two moving averages plotted. 100 MA (which replicates a 20 period weekly...
Hikkake Pattern – Bollinger Band trading strategy

Hikkake Pattern – Bollinger Band trading strategy

Trading Strategies
Price action trading can be a rewarding trading strategy for traders who truly understand how the markets work. While there are many stand alone price action trading patterns and strategies such as shorting a bearish engulfing pattern or going long on a Piercing Line pattern, the problem is that these patterns which are based off just two price bars do not have a good success rate. Of course, any trader worth his salt would know not to trade purely based on candlestick patterns. With the Hikkake pattern, which comprises of 3 bars, the odds of having a successful trades are much higher, especially when combined with Bollinger Bands. The bands, as we know are used to measure volatility and is based on the concept of mean reversion. Combining price action with a pattern such as Hikkake ...