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Understanding tick charts: an introduction to tick charts. Read the Full article Below
Hi traders, in this video specifically about tick charts, and the comparison of tick charts vs time charts as an example, we will pick apart some of the key aspects that make tick chart trading valuable to traders.
Why compare tick vs time charts? Time based charts are one of the most popular, so I think adding tick chart trading to your techincal analysis is a great way to understand market movments.
This is just one in a long series of videos designed to give you an edge on traders who, unlike you, don’t spend the time to learn all of the tricks to trading.
Bruce Banks, www.envisionchart.com specializing in Futures and Forex
Join Thousands of trades from the United States, Canada, Malaysia, United Kingdom, and around the world using TAS Tools *and free training videos*
See all my other videos here: https://www.youtube.com/user/EnvisionChart
I strive in this channel to deliver a mix of trading knowledge and practical, applicable, how to trade information related to stocks, futures and Forex markets whether you be a daytrader, stock trader, futures trader, or CFD trader.
I’ve gathered literally thousands of students between my trading courses launched via my website www.envisionchart.com, through Udemy trading, and through private courses. Thousands of students can’t be wrong can they? — Never miss a new video and subscribe here: https://www.youtube.com/user/EnvisionChart?sub_confirmation=1
See all my other videos Here: https://www.youtube.com/user/EnvisionChart
The indicators and methods that I use?
Methods: Technical analysis combined with a cursory overview of the market and it’s behavior as a whole. This includes high low mapping, prior resistance/support, multi time frame analysis, technical, and market conditions from outside sources.
Indicators and platform: TAS Market Profile Tools, custom indicators, and NinjaTrader. On our site we offer both training and a TAS Tools Discount
TAS VEGA is one of the key indicators in the TAS Tools indicator suit. It gives you a clear red light green light indication on strength or weakness in the market. With the orange bars giving you even more insight into what market profile is telling you about the current market situation.
TAS Tools works on Bloomberg, NinjaTrader, Meta Trader 4, MT4, eSignal, Gain Capital, and TradeNavigator. It overlays directly on your chart to give you valuable Market Profile Information in an easy to read interface.
The TAS Tools suit includes TAS VEGA, TAS Boxes, TAS MarketMap, TAS Navigator, TAS Ratio, TAS Static PCL support and resistance indicator, and TAS dynamic PCL support and resistance Indicator.
All of these are based off of Market Map which has been a powerful trading tool used for decades to see information that isn’t readily available on your trading screen.
These tools work on Forex markets, Futures Contracts, Stocks, and ETF’s.
NinjaTrader offers charting and an easy to customize package, it has been my go to platform for years:
EnvisionChart Website: www.EnvisionChart.com
Trading with Tick and Range Charts For Short Term Profit: https://www.youtube.com/watch?v=u9oUT6Q21qY
TAS Tools Trading Tip Videos:
TAS Trading Tip VEGA ATR Settings:
POC Line Thickness
TAS Tools: VEGA Indicator Orange Bars and Scaling Out -Quick tip-
TAS Tools using TAS VEGA and TAS Boxes For Breakout Trades
Bruce Banks Udemy Courses: https://www.udemy.com/user/trader1867
Bruce Banks Twitter: https://twitter.com/bruce_bank
Sign up for Free Videos and Bonus Content: http://envisionchart.com
More information on TAS Market Profile Tools, and Understanding the Markets:
Forex Event Driven Trading Tickers, Understanding Tick Charts.
Defining a Spike
Even if rate is accelerated compared to current previous history does not suggest that you have yourself a true spike. As we discussed in last week’s post, rate frequently accelerates best ahead of trendlines, just to strike, and also reverse. These aren’t spikes, however instead just typical market habits. More recent investors are likely to perplex this with spikes. So before you also CONSIDER going into a lengthy or short trade attempting to “follow the circulations” make damn sure you do not have a trendline dead ahead. That’s called chasing rate, not believing like a trader.
A real spike consists of at the very least one single bar with huge array at the start of the movement.
I normally refer to 5 minute bars when I claim this. Smaller bars stacked on top of each other in an allegorical movement aren’t spikes. They are just aggressive fads. Please make certain you are covering this suggestion first a foremost before checking out forward.
If you discovered anything from the info that we just discussed above, spikes need some form of info surprise in order to act as a stimulant for the movement. Only then, based upon that driver, can we then start to assess the longevity of the movement.
But to rest right here and also note my very own manifesto of reasoning behind spike continuation versus failure is basically futile. I would most likely be right here for weeks. And “summing it up” does little bit, also. The description over should get you moving in the best direction in that regard. But from a technical point of view, that’s one more story, one which we explain through a couple of principles now.
What relocates the forex market?
The forex market is made up of money from throughout the world, which can make exchange rate forecasts challenging as there are several aspects that might add to rate activities.
Nevertheless, like many economic markets, forex is mostly driven by the forces of supply and also need, and also it is important to gain an understanding of the influences that drives rate changes right here.
Supply is controlled by reserve banks, that can introduce steps that will have a significant effect on their money’s rate. Measurable alleviating, for example, includes infusing even more money into an economy, and also can create its money’s rate to drop.
Commercial financial institutions and also other capitalists have a tendency to intend to place their capital into economic climates that have a solid outlook. So, if a favorable item of news strikes the marketplaces regarding a particular area, it will encourage investment and also increase need for that area’s money.
Unless there is a parallel increase in supply for the money, the difference in between supply and also need will create its rate to boost. Likewise, an item of unfavorable news can create investment to decrease and also decrease a currency’s rate. This is why money have a tendency to reflect the reported financial wellness of the area they stand for.
Market view, which is often in response to the news, can additionally play a major function in driving money costs. If investors believe that a currency is headed in a particular direction, they will trade as necessary and also might convince others to follow suit, raising or lowering need.
Economic data is integral to the rate activities of money for 2 reasons it gives an indication of exactly how an economy is performing, and also it provides understanding into what its central bank might do next.
Claim, for instance, that rising cost of living in the eurozone has risen above the 2% level that the European Reserve Bank (ECB) aims to maintain. The ECB’s major plan device to battle climbing inflation is raising European rate of interest so investors might start buying the euro in anticipation of rates going up. With even more investors wanting euros, EUR/USD might see an increase in rate.
Credit score ratings
Capitalists will attempt to maximise the return they can receive from a market, while minimising their threat. So along with rate of interest and also financial data, they might additionally look at credit history ratings when determining where to spend.
A nation’s credit history ranking is an independent analysis of its possibility of settling its financial debts. A nation with a high credit history ranking is seen as a much safer area for investment than one with a low credit history ranking. This usually enters into certain focus when credit history ratings are upgraded and also reduced. A nation with an updated credit history ranking can see its money increase in rate, and also the other way around.
It might appear as well obvious to discuss, however an orderly chart is simpler to trade, specifically when you recognize the communication in between deep predisposition and also threat view and also exactly how it is playing out on the chart. A disorderly chart reflects confused thinking of what is essential deep predisposition and also what is threat view. Profits, if you can not review the chart and also imagine what the big gamers should be believing, you should not attempt to trade it, also when the most innovative of indications are offering you the permission. Clear thinking causes rewarding trades.
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