Live Forex Signals

LIVE FOREX
SIGNALS

BY
WWW.THEFOREXNITTYGRITTY.COM

Online currency traders need to know
how to interpret live Forex signals in
order to avoid losses and make a
profit.

HTTP://WWW.THEFOREXNITTYGRITTY.COM
/FOREX-TRADING/LIVE-FOREX-SIGNALS

Forex traders make money when they
successfully pick which Forex pair to
trade.


Then they must learn to use live Forex
signals to determine issues such as
the direction of the dollar in Forex.


The basics of Forex trading are
fundamental analysis of national
economies, monetary policy, and
world economic factors followed by
close attention to factors that drive
currencies up and down within the
trading day.


To make money currency trading start
by learning how to use your trade
station to make sense of price
movement in the Forex markets.


Using Japanese Candlesticks as an
example let us look at some live Forex
signals.


Japanese
Candlesticks


A set of trading signals that originated
in ancient Japan helps traders today.


Candlestick patterns in Forex trading
give traders a heads up as to as to the
next direction of price action in a
trading pair.


In this charting system for trading
currencies a symbol overlies a
standard price chart.


The symbol tells the trader the
opening and closing price for a
trading day, the range within which
the Forex pair traded for the day, and
whether the pair close up or down for
the day.


This capsule of information is the
Japanese candlestick.


A candlestick in this case is a
rectangle superimposed on a trading
chart. Its top and bottom denote the
opening and closing prices for the
day.


The rectangle or candle is black if the
pair closed lower than it opened and
white if it closed higher.


The entire range of trading for the day
is shown by thin lines that extend
above and below the candle.


These are the shadows.


Thus a Japanese candlestick looks
like an upright candle with wicks on
both ends.


One of more of these candlesticks
makes up a Japanese candlestick
signal.


These live Forex signals can show
price action for a month, a week, a
day, an hour, or even minutes.


Candlestick
Examples of Live
Forex Signals

You are trading the USD versus the
Euro.


Thus the USD is the base currency
and the EUR is the counter currency.


The trading chart reflects the price of
Euros in US dollars as do the
Candlestick signals.


The Euro has been falling in a steady
downward trend. Then it plateaus for
a day.


This is shown as a Doji signal.


This signal is a single
candlestick, virtually flat, with
shadows of various lengths extending
above and below.


It is indicative of market indecision.


This signal is useless in a flat market
but is high indicative of a reversal
when it occurs in an established
trend.


It tells us that sellers have quit selling
and that buyers have not yet stepped
in.


When live Forex signals such as this
are confirmed by a subsequent day of
reversal they are commonly indicative
of a new, reversed trend.


Traders use live Forex signals such as
these to tap into market sentiment
and trade accordingly.


Live Forex Signals

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Live Forex Signals