rcanessa

I am Raúl Canessa, the founder of Forexdominion.com. As an experienced Forex trader, my passion for investing and algorithmic trading has shaped my professional journey. Over the years, I have dedicated myself to refining my skills in the financial markets, allowing me to share my knowledge and insights through my platform. I am committed to helping others understand the world of trading and develop effective strategies for success in this exciting field.

Piercing Line Candlestick Pattern

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The Piercing Line candlestick pattern is a reversal formation that occurs in downward trends and usually indicates a possible change from bullish to bearich trends. This pattern has a high reliability and can be identified as follows:
  • This formation is only formed during downtrends.
  • The first candle is always a big black candle (bearish).
  • The next candle should open below the low of the black candle.
  • The white candle of the next period should close at least above the midpoint of the real body of the black candlestick.
Piercing Line Candlestick Pattern

The Forex Market Requotes

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When we trade in the currency markets at some point we will cross with requotes. While this does not happen all the time, it can happen and the trader should know what they are, what they mean and how to avoid them.

What is a re-quoting?

A re-quoting in the Forex market means that the broker with which we are trading is not able to provide us with an entry into the market based on the price we asked at the beginning when we send the order. Usually, this occurs in highly volatile markets in which prices move up or down very quickly, usually in the periods in which important economic or political news are announced but also can be caused by some event that had a strong impact on the market.

In essence, a trader decides to buy or sell a currency pair at a particular price and click the appropriate button on the platform to do this. By the time the broker receives the order, the market price has moved too fast for the broker to execute the order at the price. When this happens the broker shows the announcement of a re-quote in the trading platform in order to tell the trader that the price has moved and to give its client the opportunity to decide whether or not to accept the new price. Almost always the new price is worse than the price requested by the trader. That is why serious brokers ask their clients before executing the trade with the new price.

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Momentum Trading Strategy in 4 hours charts

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This trading strategy is based on the famous moving averages tunnels strategy developed by Vegas. In this particular case it was developed for 4 hour charts on any trading instruments, but is used more regularly to trade currency pairs in the Forex market. Like other similar systems, the operation is quite simple as will be seen below:

Methodology of the trading system based on momentum and tunnels for 4 hour charts

1.) To start we create a weekly chart on the asset that we are analyzing, which can be a candlestick of bar chart. This chart should contain an exponential moving average of 21 periods (EMA 21) applied precisely to the average price [(H + L) / 2], and a simple moving average of 5 periods (SMA 5) also applied to the average price [ (H + L) / 2].

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365Invest – Forex and CFD Broker

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365Invest – Broker Review

365Invest is a regulated Forex and CFD broker from Europe which offers access to many markets, besides Forex, through Contracts For Difference. It was founded in 2016. This broker offer several services to its clients, including a web based trading platform, platforms for mobile devices, educational resources, low and variable spreads (through a STP execution) and more.
It is an ECN / STP / NDD type broker, which means that its clients can operate under ECN trading conditions and without direct intervention of the broker (without dealing desk), so that transactions are carried out directly in the market with variable and low spreads and with the best quotes (the broker acts as an intermediary between the customer and the market).

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Expiry Time – Binary Options

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In binary options trading, the expiry time or maturity is defined as a predetermined time, or hour in which the result of a trade is determined. When a trader opens a position with options, the broker indicates the relevant expiry time for the binary option. When that moment arrives, the value of the underlying asset (known as Expiry rate) is determined, which results in a positive or negative result of the transaction for the trader.

When a trader opens a position with digital options (High/Low), the time of initiation of the trade is known as Strike Time. Before the execution of the transaction, the trader is required to select an underlying asset and make a prediction about price direction. If the trader believes that the asset price will go up, he places a call option based on the asset, but if he thinks that the price will go down, then he places a Put option based in this asset.

Depending on the broker, the trader receives a range of alternative of maturity periods that can be applied in a variety of types of underlying assets (Forex, stocks, indices and commodities). This range of maturities includes periods of a few minutes, hours, days or even weeks. The expiry time is an important element in the execution of a trade with binary options, as the length of time may influence how the price of an asset reacts to various changes in the market. Once the transaction reaches the expiry time of the binary option, the value is determined, and finally is determined whether the trader’s prediction was correct or not, and subsequently, if the transaction finished In The Money or Out The Money.

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Trading the Ladder Binary Options

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What are the Ladder options?

Ladder binary options are a peculiar sort of binary option contract, which isn’t even widely available: only a limited number of brokers feature them. Still, some traders prefer the ladder, because it’s a little more intricate and a little more interesting for many than a simple Put/Call or Touch/No Touch contract, plus, it allows traders to take advantage of more sustained bullish or bearish trends, while mitigating some of the risks that come with such an approach.

The best way to define a ladder trade is that it’s essentially several trades in one. Several price targets are used in these trades, which are arranged like the steps of a ladder (hence the name), Each of these steps is essentially a Touch trade, as the trader is looking for the price to hit as many of his targets as possible. The payout for the trade is also split into several parts, in predetermined percentages for each of the price-targets that make up the ladder. If a trader hits his first target, he’s essentially guaranteed some payout, therefore, even if the other price targets are missed, he will still not be left empty-handed. It is all too possible for the trader to miss all his targets though, in which case, his entire investment is lost.

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United States Retail Sales

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General definition

The Retail Sales Index is a report that considers the sales of goods in the retail sector during the previous month. This is a monthly figure, which always refers to the previous month in which the Census Bureau and the Department of Commerce of United States issued the report. This report is compiled and issued approximately two weeks after the end of the month.

This index is based on data obtained from samples that are extrapolated to the entirety of the whole country.

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Forex Economic Calendar

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Undoubtedly, although pure technical analysts do not want to recognize it, the important economic news and announcements have a profound impact on the market. In some occasions it is only through such data that can be understood sudden rises and drops in the major currency pairs. For this reason it is always important to be aware of the major economic … Read more

Ichimoku Kinko Hyo Indicator – Definition and Uses

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Example of Ichimoku cloud

Ichimoku indicator is one of the most versatile technical indicators, with many facets designed to identify support and resistance levels, trend direction, entry points, and exit points. It was developed by Goichi Hosada, a Japanese journalist who called it Ichimoku Sanjin (“view of the Mountain Man”). It is widely used since the 60’s in Japan and since the late 90’s … Read more

Analysis Of FXPrimus – Forex And CFD Broker

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FXPrimus – Broker Review

FXPrimus is a Non Dealing Desk/STP Forex broker created in 2010 that allows to trade in the Forex market with the main currency pairs, precious metals like gold and silver and Contracts For Difference based in several assets (commodities and the main stock indices). Currently, is a regulated broker in Europe.

Currently it is fully regulated and has offices in several countries around the world.

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