The Elliot Wave Theory

What is forex?

Nelson Elliot, an accountant, discovered that the stock market moved in repetitive cycles. This was in the 1920s and 1930s. The repetitive patterns were due to the psychology of the traders during that time. Elliott named this theory: The Elliott Wave Theory also known as “Elliot Waves” and published a book about it. This pattern can be observed in both bullish and bearish markets. The 5-3 Wave Pattern The Elliott…


How To Use Fibonacci Retracements

What every newbie should know about forex trading

The word Fibonacci is derived from the name from of a mathematician called Leonardo Fibonacci. This man lived in the 13th century. He was trying to create an equation to determine how many rabbits he could raise when he came across a pattern that appeared in numbers. This pattern now bears his name and is known as the Fibonacci series. The sequence is based on the premise that any number…


4 Forex Chart Patterns You Need To Know

Chart Patterns

There are many strategies used by Forex traders to trade the Forex market. One strategy is through using Forex chart patterns that regularly occur in the market. These patterns show traders where price may be likely heading to. Some of these Forex patterns are and not limited to: Double Top This is a pattern that is formed after an uptrend. The tops are formed when the price reaches a certain…


3 Forex Chart Types You Need To Know

Line Chart

Forex charts are tools used to study price changes during a chosen time period. For example, charts show minute, hourly, daily, weekly and monthly price movements. This helps traders predict the future short and long term price movements. The most common forex chart types are the line, bar, and candlestick charts. Line Charts In this forex chart, the price movement is shown by lines connecting from one closing price to…


Understanding Japanese Candlesticks

Japanese Candlesticks

There are different ways to analyse price movement in the Forex market. Technical analysis is one way to do it. It involves studying the historical price movement to determine the probable future price movement.Line charts, bar charts, and candlestick charts are applied in technical analysis. They help in showing price fluctuations across different time frames. One very popular chart is the candlestick chart. What is a Japanese Candlestick Chart? Japanese…


7 Technical Indicators to Consider in the Forex Market

7 Indicators Chart 6

Forex traders analyse the market using either technical analysis or fundamental analysis. Technical analysis involves studying historical price movements while fundamental analysis involves studying news events. Technical analysis majorly involves using technical indicators to determine the probability of price moving in a certain direction. The indicators apply mathematical formula whose calculations are based on price. Technical Indicators can either be lagging or leading indicators. Lagging indicators follow price movement and…


Trading Signals

Trading Signals

Perhaps you’ve already learned everything in our Forex education section and become somewhat of an expert Forex trader, or you’ve started thinking that this might not be the thing for you and instead are considering other options of how to earn more money, but in a passive way that doesn’t require trading on your own all day. And perhaps you are already using one of the best Forex brokers in Nigeria…


How To Choose A Forex Signals Provider

What is a pip?

The use of Forex signals is becoming more popular day by day. Some of the successful traders enjoy using Forex signals to predict the fate of their trades, but most people also face disappointment in not getting their desired results by this method. This fact gives rise to a frequently asked question by traders in whether these Forex signals can really generate profits for them or if they’re just a…