Forex Trading Tips – Trend Vs Range
Some Useful Forex Trading Tips – Trending Vs Ranging Price Action
So what do you do if your Forex trading strategy is good for a trending market but not so great when the market is range bound?
Its commonly known that a Forex trader should be able to answer these questions – How is the market moving and how will you trade it?
The Forex market only moves in 3 directions – up, down or sideways. You gotta know how your strategy fits into this.
So do you change your strategy or just sit on your hands if the market doesn’t present itself to your way of trading?
The first thing to do is to identify market sentiment has changed from trending to range bound or from sideways back to trending again. The Forex market is the most trending market in the World so it won’t be long before the market resumes normal service! The more experience you have, the easier it is to decide what to do and to recognise changes in sentiment.
So how do you deal with a sideways moving currency pair? Do you adopt a scalping strategy and ride the waves or wait until the tide changes?
Let me know your thoughts. Good trading to you all.
Best wishes
Annabel
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