There are 4 kinds of markets in Forex. You have a range bound market. A bull market. A bear market and a choppy market.
Your range bound market is a market that trades between a set support and resistance.
A bull market (which can also be range bound within a trend channel) is a market that is moving toward higher prices.
A bear market (which can also be confined to a diagonal channel) is a market that is moving toward lower prices or value.
A choppy market is an incoherent market that has no particular direction and is too haphazard to follow.
HOW TO TRADE THESE MARKETS
The best way to trade a range bound market is to buy at support with proper confirmation signals, and to sell at resistance with proper confirmation signals.
The best way to trade a bullish market is to buy pull backs (when price take a dip, or goes lower for a while before continuing to move upward).
The best way to trade a bearish market is to sell peaks (When price goes up for a while before moving downward again).
Stay away from choppy market, they have no direction and make no sense, if you chose to trade in this kind of a market. Trade on a shorter term time frame off of proper signals. Long term trading in this type of market can wipe you out fast, because it has not established a real direction yet.
Have a super trading week.
LIVE WELL, LOVE HARD AND HAVE FUN!
This blog is not in anyway an enticement or solicitation to trade in the Forex Market. These tips are for informational purposes only and are not to be substituted for legal advice or council. I have written this blog in hopes that it will help you to avoid some of the terrifying pitfalls I had in the Forex Market before I learned better.
The best way to trade a range bound market is to buy at support with proper confirmation signals, and to sell at resistance with proper confirmation signals.
The best way to trade a bullish market is to buy pull backs (when price take a dip, or goes lower for a while before continuing to move upward).
The best way to trade a bearish market is to sell peaks (When price goes up for a while before moving downward again).
Stay away from choppy market, they have no direction and make no sense, if you chose to trade in this kind of a market. Trade on a shorter term time frame off of proper signals. Long term trading in this type of market can wipe you out fast, because it has not established a real direction yet.
Have a super trading week.
LIVE WELL, LOVE HARD AND HAVE FUN!
This blog is not in anyway an enticement or solicitation to trade in the Forex Market. These tips are for informational purposes only and are not to be substituted for legal advice or council. I have written this blog in hopes that it will help you to avoid some of the terrifying pitfalls I had in the Forex Market before I learned better.
Thank you most kindly
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