Fibonacci extension

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As introduced in the previous section, Fibonacci extension levels serve as excellent points for setting profit targets. After all, it’s not enough that you try to pick the best entry levels for your trade. You must also be able to determine how long you plan to hold on to the trade or how long you … Continue reading Fibonacci extension

How Moving Averages Work

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This section covers the basic technical indicators used in forex trading, the most common of which is the moving average. As the name suggests, this kind of technical indicator measures the average closing price of the currency pair for a specified period. For example, using the moving average (20) on an hourly chart takes the … Continue reading How Moving Averages Work