3 Forex Strategies Widely Used by the Professionals

3 Forex Strategies Widely Used by the Professionals3 Forex Strategies Widely Used by the Professionals

Talking about Forex trading, it cannot be separated from the strategies may be used for gaining profit. But you should not be easily tempted with those declared in the internet. Not all of them are true and functioned well. However, there are at least 3 strategies that are commonly applied by professional traders. Make sure to see the situations before deciding to use them in your Forex transactions.

Do trading when there are strong fundamental factors

What does it mean? This way basically takes advantages of market responses when the data of economy are released. In general, the market will move in more volatile ways when the number of certain data is announced to be better or worse than the prediction.

A good example is related to the data of US non-farm payrolls (NFP). If it is released to be better than the prediction, USD is getting stronger significantly at least on its first 20 minutes. On the other hand, when it is worse, USD is weaker anyway. In other words, other currencies to be exchanged will be influenced as well whether it is stronger or weaker. Here are the facts based on the data released recently; when USD is stronger; its pairs like EUR/ USD, AUD/ USD, and GBP/ USD will move lower.

Use intact number as the resistance

What is the kind of number you commonly see in the Forex exchanges? They are things like 1.356775, 1.56687, and others. Meanwhile, it is rarely to see any number like 1.0000, 0.50000, 150.000, and so on. In fact, the intact number is also known as the psychology level which is on the support area or key resistance. When you see the value is moved above that psychology level area, the level is known as the key support. You can open the buy position with stop loss there. On the other hand, when the value is below, the opportunities can be found to open the cell positions.

Use the Combination of Technical Indicators

This is what we commonly call as the trading system. Many professional traders use some technical indicators at once so that one of them can cover up another’s weakness. The signal given can be confirmed as well at this stage. To learn more about this strategy, you can refer to the technical analysis applied by market teams that use some tools like Stochastic Oscillator, Moving Average, Fibonacci Retracement, CCI, and so on.




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