Forex encyclopedia

Random article: Forex Channel
Wide-spread situation on the forex market is when movement of price on the chart takes place in a certain range, which is called Channel. Upon that, bottom boundary of this channel is called support line, because it supports the price from decline below the channel level whereas top boundary is called resistance line, because it resists the price leaping up the channel. The distance between those two lines constitutes trading range. Based on main direction of the price movement, channels are conditionally divided into uptrend, downtrend and range (side) channels.
Many Forex beginners don’t have any idea about what can help them to advance in trading. There are many secrets of successful Forex trading and the trading discipline is the most significant one. If you break the rules of your trading system all the the time, you can’t become a professional trader and achieve a success. Generally we define a discipline like a set of rules and methods of practice. Trading discipline is not an exception. Let's have a closer look at it. Many traders, especially newbies, believe that a commercial trading system is one of successful Forex trading methods, which can bring them a profit.
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