Thursday, November 5, 2020

💬 “Veteran Traders: Do You Use a Wide or Tight Stoploss?” | USD/CHF and GBP/CAD Trade Ideas

Today's forex trade ideas, trading tips and discussions for beginners, and the latest news affecting the forex market.
November 5, 2020
Trading today? Read this first.
Soon we’ll get the latest monetary policy decision from the Fed. Will we see any surprises to spark further momentum or a big reversal in USD/CHF? Here's what Pip Diddy's looking at.
Chart pattern of the day: Bear flag

A bear flag is a bearish chart pattern that’s formed by two declines separated by a brief consolidating retracement period.
Trade idea: Short GBP/CAD
This week, Cyclopip's taking a look at GBP/CAD with top tier potential catalysts coming soon from both the U.K. and Canada this week. Will the range hold if retested? 
AUD/USD currently on its 1-week, 1-month, and 1-year price high
Using MarketMilk's Trading Ranges tool, we can quickly see where AUD/USD's price has been within its high/low trading range on different time frames:

2 reasons why you're NOT following your trading plan

Have you ever ditched your forex trading plan? If not, you should read this anyway because you’re most likely lying. 🧐

"Veteran traders: Do you use a wide or tight stoploss?"
Forum member FOREXunlimited has this to say about vayne77's question: "No two trades are the same. It’s all contextual and subjective. What’s wide to you, may be tight to me."
Got a question for us?
Send us a message!
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