Forex encyclopedia

Random article: Core Concepts
The biggest part of understanding the market in the same light as I do is understanding when the market begins to trade higher or lower. The objective, somewhat contrary to everything you've seen in the past, is that I look to sell when the market is moving up and I look to buy when the market is moving down. The trick is that when the market is moving, whether it be from the daily movement or the retracements into those daily movements it will always change direction. It's the change of direction that will get you in long at the bottom of a movement and short from the top of a movement, that does not mean we will be trying to pick tops or bottoms in the movements but rather we will look for selling opportunities when the market is moving up and the reverse for buying entries when the market is moving down. We do this by identifying when the market begins to trade lower after it's been moving up and to trade higher after market has been moving down
Popular article: Renko Trading System
This type of chart is applied in technical analysis, which renders movement of the price in the form of diagonal rows consisting from rectangles (bricks). Each new rectangle is always built to the right from the previous one and its location is higher or below the previous Renko rectangle. Mentioned upward or downward movement of price (for example, each 10 points) is marked by adding rectangle below (above) and to the right from the previous one. Upward movement is indicated by a transparent brick whereas downward movement (below previous value) – by a colored brick.
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