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.
Improved Bollinger Band Bounce Set ups

Improved Bollinger Band Bounce Set ups

Trading Strategies
Improved Bollinger Band bounce method can help you filter the trades using making the popular Bollinger Band Bounce trading set up into a really powerful trading strategy. Bollinger Bands are used for identifying both trends as well as volatility. There are many trading strategies based around Bollinger Bands, but they all fall into either walking the bands methods, which is a trend following strategy or a Bollinger Band bounce set up, which trades the pullbacks. Bollinger band bounce set ups work on the principle that when prices bounce off either the upper or the lower Bollinger Bands, prices tend to retrace or move in the opposite direction. But it begs the question as to what happens when a Bollinger Band Bounce set up fails? Of course, using stops here to cut the losers quickly...
How to trade breakouts with Median lines

How to trade breakouts with Median lines

Trading Strategies
Median line, also known as Andrews' Pitchfork tool is a great tool to help in your trading, especially if you are a price action aficionado. Median lines are nothing but trend lines which are divided into two parts and can offer some unique insights when applied correctly. Although Median line trading is easy, it takes a bit of time and practice to correctly figure out where to trade and more importantly how to trade. There are many articles on the web that will introduce you to median lines or Andrews' pitchfork. Therefore, this article will not go into the details of the basics but in fact introduces you to a unique way to trade with median lines. Step 1: Plotting median lines correctly Median lines are plotted using a low - high - low on a consecutive pattern, which usually results...
USDJPY, Gold – Monthly Trading Plan, May 2016

USDJPY, Gold – Monthly Trading Plan, May 2016

Technical Analysis
The yen and gold have been unrelenting in their trends since the start of this year. However, we expect to see these trends nearing their end and a modest pull back is on the cards. USDJPY (106.4): April has been a bearish month for USDJPY although in comparison to February's price action, April's declines were moderately lesser in comparison. Price action in USDJPY is seeing the major support at 105.29 - 104 level fast approaching. The monthly candlestick pattern closed in a near marubozu type of a candlestick pattern which is a trend continuation pattern and comes after March's near doji close. The monthly Stochastics however points to a lower low being printed, against the higher low, which is a hidden bullish divergence, when comparing the lower low formed in early 2014 at 101.35, c...
Why was the yen volatile at April 2016 BoJ meeting?

Why was the yen volatile at April 2016 BoJ meeting?

Financial Markets Explained
The Japanese yen saw one of the wildest moves ever this year so far, losing close to 5.90% on a weekly basis. In comparative terms, this week's strong declines in USDJPY stands only next to August 2015, when USDJPY fell 4.87% on the week amid a flash crash that saw investors rush to safety bidding up the yen. But this week, the yen's rally (or USDJPY’s declines) was for a different reason. In order to understand why the yen was so volatile this week, we need to build some context. Since the start of the year, the yen started off on a firm footing, after the December's Fed rate hike. With interest rates starting to be hiked for the first time since the 2008 global financial crisis, the markets which got used to easy monetary policy saw a flight to safety which saw gold along with
Simple tricks to trade with pivot points more effectively

Simple tricks to trade with pivot points more effectively

Trading Strategies
While pivot point trading strategy is commonly used, there are risks involved nonetheless. These simple ticks can help you to reduce the likelihood of a trade going against you and thus increase your trade probability. There are many pivot point trading strategies which combines either price action or technical indicators. However, in reality trading with pivot points can be a bit risky as prices tend to respect the pivot levels only some of the times. No matter how well you combine the technical indicators, pivot point trading can be a bit risky. However, this simple trick can help you to identify potential reversal levels and trade more effectively. Pivot Reversals The pivot reversal method is based on the simple rule that broken support is often tested for resistance and vice versa...