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Tutorials for Forex Beginners

This section aims at providing the basic knowledge for the beginning forex traders. The following topics are covered.

  • Basic Concepts
  • Technical Analysis
  • Candlesticks Charting
  • Chart Patterns
  • Fibonacci Analysis
  • Technical Indicators

For more advanced trading strategies, remember to download our free ebook Advanced Candlesticks and Ichimoku Strategies for Forex Trading



Technical Indicators I: Introduction Print E-mail
Beginners Tutorials | Written by ActionForex.com |
Technical indicators are statistics of past market data base on different mathematical calculations. Traders use technical indicators extensively in technical analysis to predict the continuance and the reversals in currency trends.
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Technical Indicators II: Moving Averages Print E-mail
Beginners Tutorials | Written by ActionForex.com |
Moving average is the average rate of a currency pair over a set period. For example, if you conduct a 20-day moving average (20 day MA), you simply add the close price of the past 20 days and divide it by 20. This is called a simple moving average (SMA).
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Technical Indicators III: Bollinger Bands Print E-mail
Beginners Tutorials | Written by ActionForex.com |
The theory behind Bollinger Bands is that, in a normal distribution data set, 68% of data should fall within one standard deviation and that roughly 95% should fall within two standard deviations. So 95% of the price should fall within the 2-width standard deviation, which is within the upper and lower band.
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Technical Indicators IV: Moving Average Envelopes Print E-mail
Beginners Tutorials | Written by ActionForex.com |
The moving average envelope is a variant application to the moving average. It is a trading band composed of two moving averages, which attempts to determine the range of market should be trading in. Traders can choose their period of MA, then form the upper line of the envelope by shifting the MA upwards and the lower line of the envelope by shifting the MA downwards.
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Technical Indicators V: Moving Average Convergence Divergence (MACD) Print E-mail
Beginners Tutorials | Written by ActionForex.com |
Moving Average Convergence Divergence (MACD) shows the difference of two moving averages - EMA12 and EMA26, and a 9-day EMA of the difference is plotted against it to trigger buy or sell signal.
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Technical Indicators VI: Relative Strength Index (RSI) Print E-mail
Beginners Tutorials | Written by ActionForex.com |
Relative Strength Index (RSI) measures the strength of all upward movement against the strength of all downward movement in a specified time frame. The most common parameter for RSI is period 14, although users can pick their favorite period of time if they wish. It is one of the most popular oscillators that works well in range-bound market.
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Technical Indicators VII: Momentum Print E-mail
Beginners Tutorials | Written by ActionForex.com |
When momentum reaches upper boundary level, the pair is considered to be overbought. If momentum reaches lower boundary level, the pair is consider to be in oversold condition. Since momentum has no fix range, there is no standard value for the upper and lower boundary. Traders may consider different boundary values for different currencies after a while of observation.
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Technical Indicators VIII: Stochastics Print E-mail
Beginners Tutorials | Written by ActionForex.com |
Stochastic is an oscillator that determines where the most recent closing price is relative to its price range over a given time period. It is one of the most popular oscillators that traders use in range-bound market.
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Some Final Words about Technical Analysis Print E-mail
Beginners Tutorials | Written by ActionForex.com |
We have gone through some of the most common indicators in the previous articles. Traders may actually find that there are many other technical indicators in their charting software. There is no single indicator can do all the work, traders may pick a few of their favorites under different market situation.
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