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.

Flag Chart Pattern – Identification, features and trading method

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What are Flags patterns?

Flags are chart patterns which occur mainly during the consolidation periods, particularly while the market exists in a tight range. When it comes to flag formation, it has both optimistic and pessimistic interpretation. But this relies upon the currency pair´s trend existing in the market. When the Forex market (or any other financial market) goes up, the bullish flag (descending flag) tends to move downwards and when the market moves down, the bearish flag (ascending flag) will move upwards. Remember, flags and pennants are closely connected and have an extension pattern that will represent a pause over the market dynamics.

These chart patterns are most usually observed after a huge and intense move in the market trends. With a breakthrough in the market, there will be a usual uptrend/downtrend in the market following the same direction. Many potential resources and case study have stated that, the flag chart pattern has proven to be one of the most reliable formations in the charts market analysis.

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RoboForex Broker Offers $30 Welcome Bonus

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The Forex and CFD broker RoboForex (regulated by CySEC) announced that it will offer a new promotion for new customers consisting of a welcome bonus of 30 USD. Through this offer, the trader can obtain initial trading capital of USD 30 at the lowest cost for their investments. It is not a completely free bonus since it requires a deposit of 10 USD in the trading account. This bonus can be used to trade with any instrument offered by RoboForex, including Forex and precious metals.

More information on this broker and its services is in the following analysis: Review of the Broker RoboForex

– Period of validity of the promotion: At the moment RoboForex has not specified a deadline for this offer, therefore it is valid throughout 2022. however, the company can modify the terms or cancel the offer at any time.

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Pennant Chart Pattern

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What are pennants patterns? The Pennant is one of the most popular patterns used by technical analysts and it is basically a short-medium term continuation chart pattern used by many traders in many financial markets. This chart pattern will exist and last long from one to three weeks of time. The pennants are formed in both bullish and bearish trends … Read more

Trading contest “Week with CFD” of RoboForex

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The Forex and CFD broker RoboForex has expanded the ContextFX trading contest list and has launched the weekly contest for traders “Week with CFD”, a competition between traders, the best of which is decided based on the maximum profit at the end of each week. It is a competition for demo accounts which offers the opportunity to win important cash prizes without risking money in the process.

 -Competition period: For the moment, the Week with CFD competition will be held every week during 2017 or until the company specifies otherwise. The first round starts on January 1, 2017. This trading contest has ended and RoboForex no longer organizes any more rounds.

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Force Index Indicator

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The Force Index is a trend-following oscillator that quantifies the movement of the market. It combines three basic elements such as the direction of movement, scale and market size. It relies on an auxiliary line to provide greater clarity so that it indicates a dominant bullish trend when the indicator remains above this line and a bearish trend when the indicator remains below.

Like all good indicators, the Force Index, has a very simple construction. This is simply to plot the slope between the last two prices and multiply the result by the volume involved. Once we have calculated the oscillator, the peaks are smoothed using an exponential moving average, because in its original form, these peaks can be very steep making it difficult to use in a trading system. The formula to calculate this indicator is the following:

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Trading competition FX Circuits of FXTM

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The Forex and CFD broker FXTM (regulated by CySEC) is organizing a trading contest for real accounts, which will be developed throughout 2017 and has a total prize pool of USD 400000. This competition, called FX Circuits, consists of 8 individual rounds or circuits that will take place during this Formula 1 season, and in each round, the winners can obtain important prizes in cash. 

-Competition period: Each round has a duration of 5 days and corresponds to the 8 circuits of the Formula 1 season. For example, the first round will be held from May 22 to May 26 and the registration period for this circuit is from May 1 to May 26 May of 2017.

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Tips to identify the end of a Forex trend

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Changes in the trend

A fundamental aspect that very few traders dominates how to determine when a trend is nearing its end and about to change to start a new trend. The turning point in which the change in the trend´s direction occurs is known as trend reversal. In many times the traders often find themselves in situations where they do not know if a trend will continue or reverse, for example when the market is in a lateral trend (the price moves without a defined trend).

In these cases these traders do not know if the trend is in a period of respite, gathering strength to continue  its movement or the market is at the beginning of a possible change in trend direction. In these and other similar situations the trader does not know whether to continue backing the current trend or wait a significant change in it. An error in this aspect can lead to large losses if the trader is not careful.

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EasyMarkets offers Forex Vanilla options

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The Forex broker EasyMarkets (regulated by CySEC and ASIC) offers its customers the ability to trade Forex Vanilla options, ie traditional options contracts based on the main currency pairs. In this case, these are OTC options contracts (Over-The-Counter), which provide many advantages to the trader, thanks largely to the trading platform of EasyMarkets, which is an intuitive and easy to use application even for traders with little experience in trading in these derivatives.
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