Tempted to short USD, but...Any counter-trend trader and the active trader will be tempted to short this candle formation. However, a matured trader will hold his horses and check if there's any upcoming Economic Data Release. You will see that there's one that's going to happen in less than 45mins time.
Remember, you are a trader, not a gambler.
Askforex100
Exchange Rates: Change AUD back to SGDEarlier this year I had change SGD to AUD as I've planned to travel to Australia, due to Covid19 the plan is cancelled and this is the period I was waiting for a better time to change my SGD back to AUD as there will be no plans of travelling to Australia, at least for now.
I've made some money from the exchange. Having the trading knowledge do helps you to save and earn.
Lessons on Support and ResistanceSomething went really wrong last night during the student meetup session.
This was the topic on Support and Resistance I love to cover and teach my students the support line with the clock is the 2nd chance entry for me to engage in a buying opportunity and Magic Candle should appear on the support line when the market break and close below the consolidation that signals a potential bullish flag setup.
So here it goes.
askForex100 - MYRTHB March19A friend of mine is looking to change MYR to THB and it has to be done before 22March19.
So what I did, I pull out the Daily Chart and analyse, the rate now is at 7.81THB is perhaps 1 of the better rates in the month of March, well, it may touch 7.87THB risk of it sliding to 7.73THB or even 7.61THB is great.
In exchange for a better exchange rate of 0.06THB and risking it to 0.08THB or even 0.20THB against your favour what will you choose?
Well, Forex Trading is not gambling, is through Technical and at times Fundamental Analysis in analysing the most probably move in the market.
Is both a skill and an art.
Let's see how the market roll out.