ForexBees

Commodity Channel Index also called CCI and is a momentum indicator. This can be used to find the overbought and oversold levels in forex trading or to identify conditions of a trend. This video shows the basics of Commodity Channel Index like what is CCI, what are the levels in CCI, how to use these levels to identify the overbought and oversold levels, how to find the conditions of a current trend etc.

CCI Part 1:

Pivot points is a very important concept that a very few forex traders use to calculate current day’s support and resistance values using previous days trading range like high, low and close values. Not only for daily resistance and support lines but forex traders also use the weekly and monthly trading ranges (last weeks high, low and close values to calculate the weekly pivot points and last months high, low and close values to calculate the monthly pivot points).

This is a basic video on how you can use support and resistance lines in forex trading. A forex technique called horizonal line approarch is explained in this video. No examples are given in this video but you can see how the author uses the technique. This video is explained on a paper.  When you want to enter forex trading, the author explained where you should enter the market using this technique.

Commodity channel index which is also called CCI is a very popular indicator that is used to detect overbought and oversold markets. This is very easy to use.

This article explains how to use this indicator. The buy signal is generated when the commodity channel index is below the oversold line and when it crosses above the oversold line.

The sell signal is generated when the commodity channel index is above the overbought line and when it crosses below the overbought line.

An image is given for you to understand easily how to use this indicator.

This article gives you an indepth knowledge of what is an accumulation/distribution forex indicator like what is accumulation/distribution forex indicator, how to calculate accumulation or distribution, formula for calculation accumulation or distribution, how it can be used as a convergence or divergence indicator etc.

This is mainly a volume indicator which tries to gauge the supply and demand of a currency pair by collecting information if traders are buying (accumulating) or selling (distributing) for a particular currency pair.

Pivot points project support and resistance lines on the charts which can be used for forex trading. This indicator uses a calculation on the Open\High\Low\Close of yesterday, to predict the Support and Resistance levels of today.

This article shows you how calculate pivot points and how to trade pivot points. A break out technique is explained for trading pivot points. The break out setup happens when the price breaks out when any of the support or resistance lines.

Images are provided for easy understanding of the article.

Clcik visit resource to go to the article.

This article shows how to use bollinger bands as support and resistace for forex trading. The following is what is explained in this article.

Flat Middle Band: When the middle moving average of bollinger bands is flat and not trending, this means that the the trend is weak and the trading is mostly range trading.

Do you know what is a forex trading journal? Do you know the importance of maintaining a forex trading journal? A trading journal is a record or a book which keeps track of all of your successful or unsuccessful trades. It is very important for you to keep track of all your trades, whether you win the trade or lose the trade as you can use this information for future trades as a reference. Lets say entered a trade with some reason in specific trading hours, but you lost the trade. The technique might have worked for you earlier but not in this trading hours.

This is as of Oct,07-2009. The trend line(support line) is broken in the day chart around a week ago. It looks like now it is retracing back to the trend line and then fall again. Once it retraces back to the trend line and then starts falling I will enter the trade. I will also look for any candle stick formations.

It may not retrace back also. If it suddenly falls from the point shown in the figure, I will enter the trade. What do you guys say? Do you think this trade will work out?