When you get some free time and want to improve your understanding of price action and currency behavior… Open a chart, zoom right out, draw in 3 or 4 of the best support/resistance lines you can find, and study them! It’s mind-blowing to see how often these lines are hit by the market over and
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Swing Trading
Don’t Trade Into Key Lines
During the Tuesday session, I took a quick Power Move short on EURCAD. I analyzed and justified my entry in the Live Trader community with our top Platinum students. One of the key points for this particular entry was to ensure we were “closed and cashed” well before the market reached the next key support
Trading The 50EMA Zone
Today’s Trading Tip has 2 parts: 1. Use the 50EMA. Specifically: The 50 period moving average, calculated exponentially on the close price. The 50 is one of my favourite mathematical indicators. I overlay it on basically all my charts. Understand that MA’s are not magic, and there is no combination of MA’s that produce certain
6 Tips For Using The 50 EMA
It is no secret I’m a big fan of using the 50ema as a dynamic support/resistance zone. So here are 6 advanced filters I personally use to boost the effectiveness of 50ema support/resistance. 1. Don’t use it as a stand-alone indicator. The strength and effectiveness of 50ema support/resistance varies, depending on market condition! Just like
3 Basic Trading Principles To Improve Your Results
1. Always have your key support/resistance lines drawn in that are most relevant to current price levels. Draw in at least 2 key lines. 3-4 lines is recommended! 2. Only trade off key support/resistance lines and wait until the market is visibly decelerating into the key line. Understand that trading off these key support/resistance