Tag: forex analysis

Weekly Currency Indices Update: 04 – 08 May 2015

Weekly Currency Indices Update: 04 – 08 May 2015

Technical Analysis
Candlestick Patterns (Daily, Weekly) Index Daily Weekly AUD Bearish DCC 3 days ago. No specific pattern identified on Friday’s close Bearish with a shooting star like candlestick. No specific pattern identified CAD Bearish since the last 3 candles. No specific pattern identified Doji, one candle ago with a bearish candlestick GBP Bearish engulfing on body one day ago, followed by a large bearish candlestick on Friday’s close Bearish candlestick. No specific pattern identified JPY Bullish since past 5 daily candles after a bullish engulfing on 27/04. No specific pattern identified Bullish for the past 3 weeks after a bullish engulfing on 12/04 NZD Bearish for the past 3 candles after a bearish engulfing pattern formed on 29/04 Second week of beari

The Importance Of Looking At Multiple Time Frames

Trading Articles
As we all know, currency pairs can be traded in various time frames such as 5, 15, 30 minutes through to 1, 2, 4 hours etc. Each trader has their own preference due to many reasons such as a difference in profit target or the amount of trading they wish to do. For instance, if a trader is using a 4h time frame they don’t have to do much trading as a new session starts every 4 hours. However, if they are trading on a 5 minute chart they will certainly need to look at the screen more often. Disadvantages of a single time frame As traders, we seem to develop a relationship with a particular time frame and stick to it for the rest of our trading days. Whilst this is a good way to trade it can have its disadvantages. The strategies that you learn on your Forex trading course may be effecti