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Learning how to code in MQL4. Part 1 – Our Strategy

Ok traders, this is a bit of a new one for me, but today we’re going to get cracking with our first lesson in MQL4 coding for MetaTrader 4. As I’m learning at the same time as I’m writing this, …

How to Trade Volatility Compression Patterns (VCP)

When it comes to timing the markets, all too often traders and investors struggle to resist the urge to buy for the sake of buying. And, this is usually without the presence of a valid trade setup or price pattern. …

How to Trade the Broadening Wedge Pattern

The broadening wedge has always been a bit of a mystery to me. While it can be quite a profitable pattern, it has a tendency to play tricks on us traders if we’re not careful. Broadening wedges occur somewhat less …

Using MAs as Dynamic Support and Resistance

For those who use price action to trade the Forex market, there’s a mixed opinion about the use of moving averages. I mean, why would you use them if price is your indicator? Well, let me explain why MAs can …

The Magic of the Measured Move for Profit Targets

Sometimes, one of the most challenging aspects of trading the Forex market is determining a suitable and realistic take profit area. In fact, I’d argue quite strongly that determining an exit (whether in profit or at a loss) is significantly …

What to do when the Forex Market ‘Fakes It’

Imagine the following scenario. You’re watching the US dollar index in your MT4 platform, and have been doing so for weeks. Poised and waiting for the big break above a key resistance level so you can take advantage of the …

How to Trade Channels Like a Champ

Parallel or equidistant channels are a popular favourite among technical Forex traders. A channel formation is constructed of two parallel lines indicative of support and resistance and can be either bearish or bullish depending on the overall direction of price. …

Rising and Falling Wedge Patterns

When talking about reversal patterns in Forex trading, few are more familiar or widely-known than rising and falling wedges. But why so? Well, wedge patterns tend to offer some of the most precision entries as well as some of the …

What Makes a Breakout a Breakout?

As suggested by the term, a breakout is when price breaks out of a defined area of support or resistance, a trendline, or a price pattern. Simple as that, right? Well, you’d be surprised how often traders get this wrong. …

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