Many traders call it “the candlestick forex strategy”, however, candlesticks is just a way to visualize the dynamics of the financial market. The strategies can be developed based on the patterns in the candlestick charts. Of course, no strategy is foolproof but an experienced trader learns to identify forex candlestick patterns quickly and profit from this insight.
Many Forex pros advise not to wait too long but this is exactly what the swing traders do. They take advantage of the swing of the currency price over a period of time. The swing trader may hold a currency for several days or even weeks depending on the trading market before he actually sells it. However, like any other trade the forex swing must be done with a proper care. This is a forex strategy for experienced and knowledgeable traders. The beginners of forex should get some experience before using this method.
Forex scalping strategy is a popular method based on the fast opening and closing of positions. The term “fast” refers to the timeframe of about 3-5 minutes at most, while the majority of scalpers maintain their positions for less than one minute. The popularity of scalping comes from a believed safety and is widely used by the beginners of forex. Many traders theorize that since the scalpers maintain their positions for a short time compared to regular traders, the market exposure is short and consequently, the risk of large losses resulting from strong market moves is smaller.What is then the difference between forex scalping strategy and betting on roulette?
The Fibonacci Series is a naturally occurring sequence of numbers which was discovered by Leonardo Fibonacci in 1202. These numbers are found in many things in nature including subatomic particles, plants, spirals. The Fibonacci Sequence is also believed to commonly mark the extension or correction of trend patterns and ranges in financial markets.
Most people who trade the forex markets rely almost exclusively on technical analysis to make their trading decisions. They will spend hours on end staring at charts of the various currency pairs in order to find high probability set-ups that are most likely to make them money. However, if you are going to use technical analysis, there are three forex price patterns who should look out for. The first of these is the breakout price pattern.