Forex & Binary
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The British pound continued to flub lower by Trump's comments favoring hard Brexit. The White Paper published by the UK government also has triggered some negative reactions. That document still needs to be analyzed before we see the true reaction of the markets . We would expect GBPUSD to continue suffering and test new lows at the hands of confused bears.
GBPUSD is pushing to reach important level 1.3220, we would expect the currency pair to break that level and touch 1.3240 before it drops again. The price action will be mostly likely settled in the range 1.3180 - 1.3240. The UK government is scheduled to publish Brexit “white paper” laying out Britain’s future relationship with the EU.
Today, traders would be looking to ECB Monetary Policy Meeting that is scheduled for 11:30 GMT. Looking on the one hour chart we see a bearish flag formation that could send the Euro further down to test 1.1650. We expect the price action to reach 1.1700 before the drop resumes.
To make profit, we need to trade smart. The Marubozo strategy is simple but that doesn’t mean it is easy to make profit. First, you need to learn to identify trends and then wait for a confirmation candle that will eventually tell you the price is in strong momentum and the trend will continue.
Before you start trading 5 minute binary strategy, you have to accept it will not give you 100% ITM signals. You have to approach trading with lower expectations and follow real action on the charts to build knowledge.
Candlestick price action makes use of the hollow (or filled) candlestick pattern and the wicks (or shadows), which determine the open and close and the high and low, respectively. Based on distinct patterns, candlestick price action can help traders to determine what is happening in the forex and crypto markets.
By analysing price action, traders can benefit as the chart patterns can signal a potential reversal to the trend and open positions accordingly. That the reversal patterns can appear in any time frame suggests they can be used by both swing traders and short-term day traders.
As the price action patterns are formed across multiple time frames, traders can take advantage of the continuation patterns and either day trade or swing trade, depending on their preference. In most cases, the continuation chart patterns can be expected especially after a strong move by the markets.
The best brokers should offer you great a trading experience with all the latest technological developments. When you choose a broker, customer support is also very important, and we carefully consider all companies before we put a broker in our top selection.
To trade cryptocurrencies, traders can use exchanges such as Bitfinex and Bittrex, but they can also trade crypto CFDs at forex brokers with higher leverage. While trading CFDs, you don't own the coins, but you can profit from higher volatility in the crypto market by guessing the price direction.
Some of the best forex brokers regulated by FCA (UK) and ASIC (AU) deliver currency pairs and cryptocurrencies, including Bitcoin, Litecoin and Ripple. The brokers offer traders direct access to the interbank liquidity. Traders can speculate on the forex and crypto markets by using leverage up to 1:1000.
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First things first, the binary options industry is not an “ideal world”. Sorry to burst your bubble, but this industry is not free of scammers and people who are just hunting your money under the guise of being your friends.