Key Forex Strategies
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In this quick guide, we'll explain some of the key forex strategies which are easy to digest.
So, let's start!
1. Breakout
In simple words, a breakout is any price change that occurs outside of a predefined support or resistance zone.
Breakouts can occur when prices rise above resistance levels, which are referred to as bullish breakout patterns.
They can also occur when prices fall below support levels, known as a bearish breakout trend.
2. Moving average crossovers
When prices cross over their moving averages, technical traders also get a trading signal. A trader, for example, can sell when a price jumps off or crosses the MA from above in order to close below the moving average.
3. Trend trading
Another common forex trading strategy is trend trading. It's also easy for beginners to understand.
Detecting an upward or downward trend in a currency price movement and then selecting trade entry and exit points is the essence of trend trading. These points are based on the currency's market positioning within the trend and the relative intensity of the trend.
4. Momentum trading
Momentum strategies consider both price and volume, and it often employs visual tools such as oscillators and candlestick charts.
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Key Forex Strategies
