Candlestick Patterns in Forex
Traders look for candlestick patterns in forex charts to try and identify possible price movements and predict the direction.
Market Update: November 18
Neither SPX or the Nasdaq have broken above their reversal day highs from last week (11/9). What’s more, SPX has reversed yet again from the line that connects highs since 2018. Don’t forget that this line crosses major pivots for the last 88 years (monthly chart is below). U.S. equity valuation is at a peak as well (see 2 charts down).
The Different Types of Forex Brokers and Liquidity Providers
At Scandinavian Capital Markets, we act exclusively as a broker. Although, there are different types of forex brokers to trade with.
Market Update: November 17
Bitcoin! Heads up because ‘digital gold’ is quickly approaching its all time high of 19666. Just under this level is a parallel that crosses major levels (mostly from 2015 to 2017). BTCUSD is a long term bull but I’m of the mind that we see a strong reaction from the parallel/all time high.
Market Update: November 16
Copper is at new highs and again testing channel resistance. Be aware of the potential for failure up here again. If strength persists then know that the 2017 high is at 3.2220. A push above there would put copper at its highest level since 2014!
Calculating Sortino Ratio in Forex
The Sortino Ratio is similar to the Sharpe Ratio. The differences make Sortino Ratio in forex more relevant for assessing trading strategies.
Scandex Technical Weekly: 11/15/2020
USDCNH made a weekly J Spike last week (price based only indicator). The platform that I use to run these studies only includes USDCNH data since 2013 and this is the first bullish signal. There have been several bearish signals; at the 2018 and 2019 highs. A turn higher in USDCNH ‘fits’ with a turn lower in Chinese equities.
Market Update: November 12
It was relatively quiet today but bullish evidence continues to mount for the USD. USDCAD, for example, followed through on its reversal from a 13 month low. The rally is impulsive (5 waves), which suggests that an weakness should prove corrective and give way to additional strength. Proposed support is 1.3025/50.
Three Most Popular Technical Analysis Indicators in Forex
Traders use indicators to predict how the market will move. Learn more about the three most popular technical analysis indicators in forex.