Pivex Guides
Guides and explainers for funded traders:
challenges, risk, payouts, and market literacy.
Heikin Ashi: A Complete Guide to Understanding and Using This Charting Technique
Short answer: heikin ashi is a charting technique that replaces each candle's open, high, low, and close with averaged values calculated from the current and previous periods. The result is a…
How to Read Candlestick Charts: A Complete Guide for Traders
Short answer: to learn how to read candlestick charts, work from the single candle outward. Each candle encodes four prices for one period: open, high, low, and close. The body shows the distance…
The Inverse Head and Shoulders Pattern: A Complete Guide for Traders
Short answer: the inverse head and shoulders pattern is a basing structure made of three troughs, where the middle trough digs deepest and the two outer ones are shallower. A line drawn across the…
The Inverted Hammer Candlestick: A Key Indicator for Traders
Short answer: an inverted hammer candlestick has a small body at the bottom of its range, a long upper wick at least twice the body, and little or no lower wick. It forms after a decline, and it…
The MACD Indicator: Your Essential Guide to Trading
Short answer: the MACD indicator, short for moving average convergence divergence, measures the distance between two exponential moving averages of price. It plots three things: a MACD line, a…
Market Order vs Limit Order: A Detailed Comparison
Short answer on market order vs limit order: a market order executes immediately at the best price currently available, so you control the timing but not the price. A limit order executes only at…
The Morning Star Pattern: A Key Indicator for Bullish Reversals
Short answer: the morning star pattern is a three candle bullish reversal formation. A long down candle is followed by a small indecisive candle, then a long up candle that closes well into the…
A Complete Guide to NFP Forex Trading
Short answer: NFP forex trading means positioning around the monthly US Employment Situation release, which includes the non-farm payrolls figure. The report is published by the Bureau of Labor…
What is a Pin Bar? A Complete Guide for Traders
Short answer: a pin bar is a candle with a long wick, a small body at the opposite end, and little wick on the other side. The long wick marks a price level the market reached and rejected. Price…
A Complete Guide to Renko Charts: Understanding and Utilizing Them in Trading
Short answer: renko charts are built from fixed price movements rather than time. A new brick prints only when price moves a set amount beyond the previous brick, so sideways drift produces nothing…
Understanding RSI Divergence: A Comprehensive Guide for Traders
Short answer: rsi divergence occurs when price makes a new extreme and the relative strength index does not follow. A higher high in price with a lower high in RSI is bearish divergence. A lower…
The Shooting Star Candlestick: Identification, Significance, and Trading Strategies
Short answer: a shooting star candlestick is a single bar with a small body near the bottom of its range, a long upper wick at least twice the body height, and little or no lower wick. It prints…