Basic Knowledge of Forex Trading

Basic Technical Indicator Usage

Understanding Trend & Patterns

Understanding Candlestick Patterns

Thursday, September 24, 2009

24 September 2009 9.16am

Let's take a look at the EURUSD chart today. We are using 0000hrs and 0100hrs as a guiding line.
Currently you could see that it is an uptrend from the MACD crossover.
There's Line 1 and Line 2 in the chart.
1) When the EMA5 cut above Line 2, take note of a uptrend.
2) When the EMA5 cut below Line 1, beware of downtrend.
3) If it stays between line 1 & line 2 means it is consolidating.

*Note: Take Note of the MACD line & histogram.

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