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Constantly analyzing the market through both technical and fundamental analysis is integral to making informed trading decisions. Additionally, monitoring your trading performance by tracking metrics like win-loss ratio, average profit per trade, and drawdown helps you evaluate your success.
This strategy is centered around utilizing technical tools like candlestick patterns and moving averages to spot potential entry and exit points. For example, an occurrence known as the “golden cross” arises when a short-term moving average surpasses a long-term moving average.
At the core of this market lies the concept of currency pairs, where the exchange rate between two currencies is the focal point. Take EUR/USD, for instance – it represents the Euro to US Dollar exchange rate. The rate, such as 1.1500, signifies that one euro can be exchanged for $1.15 dollars...
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