Trading the channel in forex ~ forex trading for beginners demo
This nice descending channel has been providing great long term sell opportunities and short term buy opportunities for those who have been following the GBPUSD pair on the daily chart. This descending channel is of course in line with the general bearish trend on the weekly and monthly chart.
We now hope to go short if the market reaches point A and forms a bearish pattern. It will even be better if the market breaks the top red line before retreating with the body of the reversal candle closing just inside the red line. Go short upon the close of the candlestick reversal pattern. It is always a plus when trading channels, whether ascending or descending, if you have deeper knowledge on the different types of candlesticks. Channels are one of the many ways to confirm the credibility of the candlestick patterns. And they work great for those who have the intention of trading the higher timeframes. If you spot one on the weekly or monthly charts you could be in for a great trading period.
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Do not lose your initial trading capital. Call us today on 0725 050 419 for the best forex trading orientation.
You do not need huge capital to start trading. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars.
------------------------------Call us today on 0725 050 419 for the best forex trading orientation.
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