There are many things we can consider to indicate a change in trend. One such occurrence happened last Thursday. In one fell swoop, the Swiss National Bank, created a major stir in the Forex market. They basically announced they weren’t going to continue to artificially hold the Franc down against the Euro. After the announcement, the Euro dropped over 2350 pips by the end of the day against the Franc. Although big moves can occur after an economic announcement, this announcement was very unusual. It does help to illustrate how […]

When traders talk about support and resistance, sometimes they use different terminology then support or resistance. Support can be referred to as floors, lows, bottoms, troughs, or any other word that conveys a low point. Resistance can be referred to as ceilings, highs, tops, peaks, or any other word that conveys a high point. New traders often consider support/resistance to be somewhat mythical or magical but it is not. As traders, it is our job to recognize opportunities to buy and sell based on what the market is telling us. […]