Support and resistance levels are fundamental concepts in trading, applicable to both long-term investments and short-term day trading. Both levels represent points on the chart where the price tends to halt and, in some cases, reverse direction. Therefore, many traders use these as potential points for buying or selling, especially…
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This strategy was coined by the American forex trader Kathy Lien. The technique involves identifying areas in a currency pair where the price approaches a “double zero,” such as 0.7200 in NZDUSD or 1.1200 in EURUSD. The idea is that these areas represent natural support or resistance for thousands of…
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The 5-1 strategy was developed by the Danish day trader Hans-Henrik Nielsen from Markettimer, known for his simple yet effective strategies. The 5-1 strategy is a distinct day trading strategy. It can be used in its simplest form, but it can also be advantageously refined with additional indicators. The strategy…
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Double bottoms and double tops are well-known patterns that often occur in financial markets. They frequently appear at the end of a trend, signaling the potential reversal of that trend. These patterns often take the form of a double bottom resembling a large “W” and a double top resembling a…
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