I get asked these types of questions a lot, so I decided to dig into some of the publicly available records from the brokers themselves, at least in the U.S. where brokers are required to report on their client’s profitability. … Continue reading
As a follower of PipHut you have probably seen us write our targets like this: “Targets at 20/25/30/25 pips for 100 pips profit”. What does this mean? This means that Target 1 is at 20 pips, Target 2 is at 45 … Continue reading
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Gaps occur in trading when the open price of a candle occurs below or above the close price of the previous candle. In less liquid markets like stocks gaps can occur constantly throughout the trading day, but in the forex … Continue reading
Flag patterns are a reliable continuation pattern that is characterized by two parallel lines (i.e. a channel) that goes against the trend, and is preceded by a large drop or rise which is commonly referred to as a “flag pole”. … Continue reading
There is no reliable data out there on how many traders use which time zones, but many large institutions use UTC time even though a good number are located in the US East Coast time zone. However because candlesticks are … Continue reading
A ‘false signal’ in trading is any trading signal that does not result in the expected or desired outcome. So, for example, a bullish doji that does not result in a bullish reversal. To effectively trade false signals using candlesticks … Continue reading
A ‘descending triangle’ is a bearish continuation pattern and consolidation pattern that indicates the price will continue in the direction of the previous trend. It often times accompanies a flag pole formation. Shown in blue lines on chart below, in … Continue reading
An ‘ascending wedge’ is a bullish continuation pattern that is formed when both the top resistance line and bottom support of the consolidation pattern slope upward as in the example below. Ascending wedges are very similar to ascending triangles – … Continue reading
A forex continuation pattern is any chart consolidation pattern (triangle, wedge, flag, etc) that indicates the price will continue in the direction of the trend.