The improvement in various technologies in the forex market has made it convenient to propel your forex income. Contrarily, the vast number of trading tools confuse many beginner traders. A chunk of forex traders is unsure which strategy or tool to apply. For instance, the most typical worry is whether is to copy trades or rely on technical analysis. After deciding to use the most reliable data-driven method (technical analysis), a massive challenge results: What are the top 5 technical indicators to prioritize in forex trading? Simply put, you should focus on CMF, MACD, MA, RSI, and OBV when beginning forex trading technical analysis. Later, you can introduce more tools and change trading strategies or platforms. First, let us take a look at what each of the top-rated forex technical indicators entails. 1.    CMF Successful forex traders understand market phases—accumulation, public participation, and distribution. And that is the motivation behind

Read more

Bollinger band is a helpful analytical chart that traders from various markets use to identify volatility, define a trading range, and determine the breakout prices for a stock. Although Bollinger bands can give a trader valuable insight into trends, they are not always accurate, and hence it’s always good to use them with other indicators.   You could use several indicators alongside Bollinger bands to make accurate inferences about price breakouts and trend reversals. Some of these include BBTrend, %b, and Bandwidth. To know which one is best for you, you need to understand how each indicator works with Bollinger bands. Types of Indicators Indicators are divided into three classes, Volatility indicators Momentum Indicators Trend Following Indicators A trader should understand which indicator belongs to which category to combine them to enable them to make better trading decisions. Traders who do not know the best way of combining indicators create

Read more

With so many online forex trading tools, it is always good to go for the one that will help you navigate the market quickly. Fibonacci retracement tool is sophisticated and meets the required standards in the stock market. The forex market is complex, and it keeps changing every minute. It is not easy for a forex trader to keep track of the changes. A forex trader must follow through the stock market to know the appropriate time to execute business deals.

Read more

The Fibonacci trading tool is one of the most popular with forex traders. It has been used in the finance industry for ages. And many forex traders have used it to make profitable trades. The Fibonacci tool has a rich history since it was developed by a famous mathematician many centuries ago. Because of its mathematical nature, many new traders are afraid of it. However, once you have learned how to use it, it becomes a major part of your trading arsenal. Here are the different types of Fibonacci tools that traders use for success in their trading. Fibonacci Retracement When it comes to using the Fibonacci tools for trading, the Fibonacci retracement is one of the most popular tools. The Fibonacci retracement is a pair of horizontal lines that help traders to determine the support and resistance price levels of currency pairs they want to invest in. A support

Read more

When it comes to trading, the forex market is the largest globally, with a worth estimate of at least 2 trillion dollars. As it is with all trading markets, the world of forex trading is constantly changing. To become a successful trader, one needs to evolve with the market. One way traders can remain ahead of the game is by using the best market indicators for technical analysis in forex. Technical analysis uses previous market data to help in determining possible future market price behaviors for currency pairs. With the right analysis, a trader can make use of relevant strategies and indicators to make the most of changing market dynamics. When trading on the MT4 platform, traders often make use of trading indicators for market analysis. Understanding forex indicators Indicators are forex trading tools that make it easier for traders to understand market changes and predict possible future market trends.

Read more