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November 19, 2020
Candlestick Patterns in Forex

Candlestick Patterns in Forex

Traders look for candlestick patterns in forex charts to try and identify possible price movements and predict the direction.
November 18, 2020

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).
November 18, 2020
Different Types of Forex Brokers

The Different Types of Forex Brokers and Liquidity Providers

In the OTC FX and CFD trading industry, there are many thousands of brokers catering to a variety of different customer profiles. Since the start of […]
November 17, 2020

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.
November 16, 2020

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!
November 16, 2020
Calculating Sortino Ratio in Forex

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.
November 16, 2020

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.
November 12, 2020

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.
November 12, 2020
Three Most Popular Technical Analysis Indicators in Forex

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.
November 11, 2020

Market Update: November 11

NZDUSD has ripped into the confluence of long term downward sloping channel resistance and short term upward sloping channel resistance. I’m interested in the short side IF we see some reversal evidence over the next 2 days (rest of the week). A drop below the high volume level from RBNZ at .6862 would be an early sign of a reversal.
November 10, 2020

Market Update: November 10

Silver has been trending lower since August 6th and put in a large bearish outside day on Monday. Focus is towards the lower channel line near 20.65, which is currently just above the 200 day average. Resistance should be about 24.56 (see 4 hour chart below). A downside bias is reinforced by the fact that VWAP from the high was resistance on SLV on Monday (see 2 charts down).
November 9, 2020

Market Update 11/9 – Important Stock Market Signal

TLT has reached the long term parallel that was noted as the ‘critial level to pay attention to’ several weeks ago. Simply, this is a major decision point. Weakness below would be a game changer but support is support until broken so I’m thinking bounce.
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