The foreign exchange market, also known as the Forex market, is a global marketplace where currencies are traded. Currencies are important because we need them to purchase goods and services locally and across borders. There is no central marketplace for the Forex market. The forex market is the largest financial market in the world. It is even bigger than the entire US stock market. There are various participants with different purpose trading currencies in the Forex market. The participants in the Forex market include banks, international companies, hedge funds, money managers, tourists, and individual investors. Just like the price of a stock, the price of a currency is fluctuating every day. The price of a stock is often affected by the intrinsic value of the company and the national economic conditions. Depending on your knowledge and skills, the Forex trading can be your opportunity or risk. To get into the Forex trading, you need some knowledge to be covered. Although the following list is not the exhausted list, it contains some essential elements for the Forex trading.
Understand the market driver
The book: Science Of Support, Resistance, Fibonacci Analysis, Harmonic Pattern, Elliott Wave and X3 Chart Pattern (In Forex and Stock Market Trading) is an dedicated book for the Forex trading for Beginners. This book will provide some basic and advanced knowledge towards Forex trading. Even if you are new or existing traders, we recommend this book because the book shares many fresh new ideas towards your day trading. Especially, many people thinks that chart reading is difficult. This book provides the scientific rational + many good examples for the chart analysis. The book can be found in all the major book distributors in the world. Please choose the best book distributor you like from the link below including amazon.com, Google Play Book, scribd.com, Apple Book and so on.
In the modern electronic trading environment, good tools are the priority for winning trading performance. MT4 Harmonic Pattern Scanner is such a tool you must have in your trading arsenal. MetaTrader 4 is one of the most popular trading platform since 2010. It is accessible for free of charge for any trader from all over the world. We provide a range of powerful harmonic pattern scanner particularly desinged for MetaTrader 4 platform. Likewise, all these indiator and pattern scanners are available in the next generation trading platform, MetaTrader 5 too.
1. Harmonic Pattern Plus for MetaTrader 4 and MetaTrader 5
One of the first automated Harmonic Pattern Scanner released in 2014. It can detect 11 most popular harmonic patterns with well-defined trading entries and stops. Pattern Completion Interval, Potential Reversal Zone and Potential Continuation Zone are supported. In addition, other dozens of powerful features are added like Japanese candlestick detection, etc. This is the repainting pattern scanner.
2. Harmonic Pattern Scenario Planner for MetaTrader 4 and MetaTrader 5
It is an advanced Harmonic Pattern Scanner. On top of the features of Harmonic Pattern Plus, you can also predict future harmonic patterns through simulation. This is the tactical harmonic pattern scanner designed for Professional harmonic pattern trader. This is the repainting pattern scanner with predictive algorithm.
3. Price Breakout Pattern Scanner for MetaTrader 4 and MetaTrader 5
Price Breakout Pattern Scanner is the popular Breakout Pattern Scanner with affordable price with many powerful features. It can detect Triangle, Falling Wedge, Rising Wedge pattern, Head and Shoulder Pattern, Double top and Double Bottom. As a added bonus, you have access to 52 Japanese candlestick pattern + Smart Renko. However, this scanner can repaint. It does not support multiple timeframe pattern scanning. This is the repainting pattern scanner.