Forex Trends - What don't you know about the global market trend today?
This article was written to illuminate the main misunderstood trending market in Forex and help Forex traders succeed and stay profitable.
The information is presented in a readable way for beginners as well as advanced traders that want to tune up their trading approach and increase their success rate. You will learn by stressing the common mistakes and often revealing obvious but underestimated trading techniques.
Most traders start by asking the correct question: “What's the current market trend?”, but then most of them fail to determine the trend correctly and almost all traders miss the next important question: “How reliable is the current trend?”
If you don't take the trend into account, you will often be tricked into placing low winning-probability trades. Trend is your friend. By following the trend it can only be better. But you have to distinguish between the real trend and very tempting price action that wants to play with your emotions.
You will also understand the basic principles behind chart patterns, how to draw strong trend lines, how to recognize the patterns and how to trade them. We always keep trading simple and therefore we focus only on the most reliable chart patterns. With the following knowledge, you will be able to spot the patterns leading to explosive price movements and then trade profitably with it.