The Envelopes indicator reflects the overbought or the oversold state of the price, thus allowing to determine the entry and exit points from the market, as well as the moments of the possible trend break-down.
Entry Order
An entry order is one that is used to enter a trade at a specified price level. If the currency pair never reaches that price level then the entry order is not executed.
Counter Currency
The second currency in a currency pair. Also known as the Quote currency.
Engulfing Pattern
A reversal pattern that can be bearish or bullish depending upon whether it appears at the end of an uptrend bearish engulfing pattern or downtrend bullish engulfing pattern. The first candle is characterized by a small body, followed by a candle whose body completely engulfs the previous candle’s body.