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How to read PipHut’s Take-Profit (TP) levels

Mark — Tue, 03 Jan 2012 14:49:53 +0000

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 pips, Target 3 is at 75 pips and Target 4 is at 100 pips. We give targets this way because trending S/R levels will rise or fall throwing off any exact prices we give. For [ continue reading ]

Source: How to read PipHut’s Take-Profit (TP) levels
Forex signals from: PipHut.com

Forex Term: Gap Trading – what is a gap?

Mark — Mon, 03 Oct 2011 15:45:15 +0000

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 markets where trillions of dollars exchanges hands every day we usually only see gaps after the long weekend break, shown below: It is commonly believed by many traders that “all gaps close” or that a [ continue reading ]

Source: Forex Term: Gap Trading – what is a gap?
Forex signals from: PipHut.com

Forex Term – Flag Pattern

Mark — Wed, 14 Sep 2011 07:15:57 +0000

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”. In the example below we see a strong bearish flag pole, followed by a bullish channel with two parallel lines which make our flag pattern: Source: Forex Term – Flag Pattern Forex signals from: PipHut.com

Source: Forex Term – Flag Pattern
Forex signals from: PipHut.com

Which time zones do most forex traders user?

Mark — Mon, 12 Sep 2011 16:57:56 +0000

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 supposed to represent the underlying emotions of the markets (e.g. indecision, conviction, capitulation, etc) then in theory they are valid no matter what time zone they occur in. Many times also a candlestick in one [ continue reading ]

Source: Which time zones do most forex traders user?
Forex signals from: PipHut.com

Trading False Signals with Candlesticks

Mark — Sun, 11 Sep 2011 16:42:23 +0000

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 one has to have accurate backtesting data of candlesticks to know which candles will result in the desired result and which won’For example in backtesting if, for example the historical data given to us using [ continue reading ]

Source: Trading False Signals with Candlesticks
Forex signals from: PipHut.com

Forex Term: Descending Triangle

Mark — Sat, 03 Sep 2011 00:45:46 +0000

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 a descending triangle the top resistance is a downward sloping trend line, indicating that selling pressure is increasing on each rally, while bottom support is horizontal. Descending triangles are bearish signals on breaks of bottom [ continue reading ]

Source: Forex Term: Descending Triangle
Forex signals from: PipHut.com

Forex Term: Ascending Wedge

Mark — Thu, 01 Sep 2011 06:18:39 +0000

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 – the main difference being that in an ascending triangle the top support is a horizontal line and does not slope upward. Source: Forex Term: Ascending Wedge Forex signals from: PipHut.com

Source: Forex Term: Ascending Wedge
Forex signals from: PipHut.com

Forex Term: Continuation Pattern

Mark — Thu, 01 Sep 2011 04:58:28 +0000

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. Source: Forex Term: Continuation Pattern Forex signals from: PipHut.com

Source: Forex Term: Continuation Pattern
Forex signals from: PipHut.com

Double/Triple Strategy and New Feature

Mark — Mon, 04 Oct 2010 02:33:14 +0000

Introduction I had planned on releasing the Support/Resistance article this week (as per the Training Schedule for October 1st), but I have a surprise for you that is well-worth the wait: a new strategy BUILT-IN to CandlePro AND this article on how to use that feature in your trading! It is a 2-for-1 :). What is the Double/Triple Strategy? The Double/Triple strategy is a confluence-based strategy that looks for multiple candles in the same timeframe that [ continue reading ]

Source: Double/Triple Strategy and New Feature
Forex signals from: PipHut.com

PipHut: Exciting New Services!

Mark — Tue, 24 Nov 2009 08:40:53 +0000

I’m proud to roll out a few new services for PipHutters today, services that I think you will find extremely useful to help you trade better. Some of these services you may have noticed recently, others I bet you have not… 1) Candlestick Alert Service (beta) By far the most exciting of the new announcements, welcome the Candlestick Alert Service! No matter how good a trader you are sometimes you miss candlestick signals. The best [ continue reading ]

Source: PipHut: Exciting New Services!
Forex signals from: PipHut.com