The forex market has three different Market phases, namely trending, consolidation and counter trending. These three market phases require forex strategies that are different. In choosing your plan, it is important you choose one that’s acceptable for the specific market phase you are in. Strategies that will be extremely helpful for each of these market phases do not differ; each other can be starkly contrasted by them. When faced with a Marketplace Trending phase, you will need to be certain you can easily detect the moves in the system so you can slip into the marketplace at the time. The most appropriate and efficient forex plans for a market in the trending phase should protect you in the event that the market does not veer toward a specific direction.
You can expect anything, so your forex strategies should be ready to handle whatever the results, because the market is trending. This means it is much better to wait a little before you enter the marketplace until the trends are confirmed, so you will not be at risk of a false entry. In the counter trend Stage, it is better to use metatrader 4 indicators that focus on the market on the high and the low. By searching for these amounts, it expects the market to begin a reversal. This will help you make a trend that is good. One of the recommended forex strategies for the counter trending stage of the marketplace is when the rings are more or less flat, the Bollinger bands principle, which functions. The Bollinger band principle is known as one of the most useful analysis tools.
It was designed by John Bollinger in the 1980s. It centered on a moving average between two trading bands’ use. The Bollinger band can compare the high and low prices in the marketplace in relation to your previous trades. In the market consolidation phase, On the other hand, it is a good idea. Forex scalping is considered a technique but in addition, it offers some protection against changing market trends and at least good profit potential. A trader can get much better results by implementing a forex scalping strategy and entering and exiting trades every few minutes. An hour at a market consolidation platform can equate to several trades to get a forex scalper. Forex strategies may provide you provided that you also think about the conditions which surround your situation.