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Understanding the Basics and Getting Started

Forex trading, also known as foreign exchange trading, is the buying and selling of currencies on the foreign exchange market with the aim of making a profit. It's one of the largest and most liquid financial markets globally, with trillions of dollars traded daily. In this beginner's guide, we'll explore the fundamentals of forex trading and provide essential tips for getting started in this exciting market.<br>

Nitesh29
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Understanding the Basics and Getting Started

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  1. Disclaimer: The information provided in this following session is intended for educational purposes only and must not be construed as investment advice. Trading foreign exchange on margin carries a high level of risk and might not be suitable for all investors. Before deciding to invest in foreign exchange you should carefully consider your investment objective, level of experience carefully consider your investment objective, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that cannot afford to lose. You should be aware of all of the risks associated with trading and seek advice from independent financial advisor if you have any doubts. Chart 4.1 Chart 4.2 Chart 4.3 01

  2. Umbrella Lines Chart 4.4 Chart 4.5 Chart 4.5 The Hammer and Hanging Man can be recognized by three criteria: 1. The real body is at the upper end of the trading range. The color of the body in not important. 2. It has a long lower shadow that should be at least twice the height of the real body. 3. It should have no, or a very short, upper shadow. 3. It should have no, or a very short, upper shadow. There are three aspects that differentiate the Hanging man from Hammer 1. Trend: A Hammer must come after a decline. A Hanging man must come after a rally.2. Extend of the move before the candle line. 3. Confirmation: A Hanging man should be confirmed, while a hammer need not to be. Chart 4.3 02

  3. Hammer • The real body of the hammer can be white or black. • The Japanese nickname for a white hammer is a “Power Line”. • Long Lower shadow and close at, or near, the high of the session. Not a hammer Hanging Man Hanging man Chart 4.3 03

  4. Hanging man Decreasing stope of rally highs A B Chart 4.3 04

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