Monday, August 3, 2009

Forex Pip Training


First of all, You can learn elliott wave analysis for forex market and get more knowledge in forex chart analysis here

Trends
The Forex markets have been studied for over 100 years and over that time trends have repeated themselves and patterns have become consistent and fairly reliable. It is very important to understand that prices move in Trends and those traders who trade with the trend are more successful. Finding the trend will help you become more aware of the market direction.

Always find the trend and trade with it, not against it. This applies even if it takes days or weeks for a new trend to become obvious.

forex rates for today Looking at the charts and drawing trend lines is the most common form of technical analysis. A trend is usually when 3 or more lows line up. A market that is trending up is making a series of higher highs and higher lows and you can draw a line connecting the bottoms (roughly), this is a support line.

The market is trending down when it is making lower lows and lower highs, if you draw a line connecting the tops you have drawn a resistance line.
Charts

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