tradewithreyna-blog - Tumblr blog

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Totoo nga ang free lipstick 😍

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Sa wakas magagamit kona tong #jco #journal #forex #forextrader

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Over 320pips wow GBPNZD... Umagang kay ganda #freedomlifestyle #daytrader #forexlife #forextrader #forex

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Late Xmas Gift for Myself #canon #canonm3 #efm28mm

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My next goal #daytrader #freedomlifestyle #forextrader

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Trend Lines are an important tool for trend identification and confirmation in technical analysis. It is a straight line that connects two or more price points and then extends into the future to guide you. There will be lines drawn across significant lows in an uptrend, and significant highs in a downtrend. To roughly classify trend lines, we can divide them into three as short term trendlines, medium term trendlines and long term trendlines. 1. Short Term Trendlines Draw these lines across the most recent two lows for an uptrend or across most recent two highs for a downtrend. Best observations are found on a smaller time frame such as a 15 minute or 30 minute chart. 2. Medium Term Trendlines These are best observed on a higher time frame like a 60 minute chart. It either connects the nearest significant low to current price action to the previous significant low in an uptrend or the nearest significant high to current price action to the previous significant high in a downtrend. 3. Long Term Trendlines It uses higher time frames such as the 4 hour chart or the daily chart to draw long term trendlines using the same method of Medium Term Trendlines. The long term trend line is considered as an effective Forex trading tool. The daily chart is used mostly by traders of big institutions who do not usually engage in small moves on an intra day level.

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There are many kinds of orders which traders can place to transact in the Forex market, for making profit out of it. Market Order The market order is the most simple and common kind or order. Here, the trader buys and sells the currency at the rate prevailing in the market at the time of placing the order. Due to the huge size of the market and the high volatility, trends can reverse any instant, so people prefer placing orders at the market price to guard themselves against any adverse trend.

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Foreign Exchange [Forex] involves exchanging of different foreign currencies for a profit. The reason for buying the currency of another country may be the need to buy some commodity of the said country as well, besides making money through the difference in exchange rates. In the latter case, people buy currency of a foreign country when the rate in the market is low, and sell it off when the rates go up. Currency trading is usually done between the central banks, the government, speculators and MNCs. Nations cannot trade with each other without the presence of a foreign market. A huge amount of money is daily traded in the Forex market, though the amount invested by an individual trader may be very low.