What are some simple tips and tricks regarding the price action strategy? Back to list

Member SinceJul 08, 2021

Posts 526

Sterling

May 17, 2022 a 12:20
Trendlines can be beneficial to traders not only because they can earn decent payouts following the trend, but also because they can spot potential reversals when the currency pair breaks out of the line. In the case of following trends, traders can earn decent payouts by identifying and drawing trendlines. Some market participants use Heiken Ashi charts for this purpose because these charts may make it easier for them to identify most recent trends. Some professional traders will draw two flat lines on the charts, one below the support level and one above the resistance level. One of the lines will be below the support level. This assists them in visualizing the current trading range as well as identifying the potential breakouts that could occur. Some traders will use two different standard moving averages in their analysis in order to produce more precise results. It is very common to use the 50-day and the 200-day simple moving averages as indicators together, and when those two lines cross each other, it is typically considered to be a major signal. There is no such thing as an all-encompassing best price action strategy. One trader may find that a particular strategy is to their advantage, while another may find that the same strategy is to their detriment. Because of this, the best way to find the price action forex strategy that works for you is most likely to be through a process of trial and error.

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