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Bitcoin Forex Brokers
Launched in 2008, Bitcoin is the first cryptocurrency in the world. The Bitcoin market has no central bank intervention and there are no interbank dealers to control the order flows. Bitcoin is a very volatile digital currency and there are many ways to speculate on the extreme Bitcoin’s price swings which are driven mainly by the news and the prevailing investor’s sentiment.
Trading Bitcoins with CFDs
Since 2013, Bitcoin traders can take advantage of a contract for difference (CFD) to trade Bitcoin. A contract for difference (CFD) is a derivative product that offers easy speculation on the rising or falling prices of any financial market. Actually, a CFD contract ‘mirrors’ the price movements of any financial instrument without owning it.
Advantages of Trading Bitcoins with CFDs
Disadvantages of Trading Bitcoins with CFDs
Review Bitcoin Forex Brokers
These are some popular choices for trading Bitcoin CFDs.
Pattern recognition is a very popular trading strategy based on technical analysis chart patterns. Financial markets tend to move in certain patterns and those traders capable of identifying some of these patterns may increase significantly their likelihood of winning. Identifying patterns as a method can be combined with other trading strategies and be used to confirm the entry/exit signals of other trading methods. Trading patterns recognition as a method is a much more reliable method in mid-term and long-term trading periods than in short-term periods.
What is a Chart Pattern?
A chart pattern means a distinct price formation presented on the chart. There are many different types of chart patterns, in this article, you can find the most important patterns. Patterns can not forecast the future but it can help traders increase their likelihood of winning. In general, we can distinguish two main types of Chart Patterns:
(1) Continuation Chart Patterns
(2) Reversal Chart Patterns
Definition: Continuation chart patterns signaling that a price trend will continue.
1.1 Cup & Handle Chart Pattern
Cup & handle formation suggest that a price trend has paused for a while but it will not probably be reversed. When this formation is confirmed then a price trend becomes even stronger.
Timeframe: Cup & Handle pattern can be best identified in charts from 1-month chart to 1-year.