HOW TO IDENTIFY THE TREND REVERSAL IN A CURRENCY PAIR LIKE THE PROFESSIONAL FOREX TRADER

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HOW TO IDENTIFY THE TREND REVERSAL IN A CURRENCY PAIR LIKE THE PROFESSIONAL FOREX TRADER

Post by Shiva123 on Sun Sep 24, 2017 4:14 am

Trading the forex market is extremely difficult especially if you are relatively new in this industry. There are many traders in the world who are making a consistent profit out of trading the financial instrument in the forex market. Those who are making a consistent profit has gone through many difficult stages and after serving a hard period time they are now consistently profitable. If you are truly committed to becoming a successful forex trader then you must develop some of the basic criteria that every successful trader have. There is saying in the forex market that always trades in favor of the prevailing trend. Many rookie traders blindly follow this proverb and end up losing a huge amount of money since they even don’t realize that the trend in the forex market is subject to change. For instance, the novice traders keep on executing new buy order in the market even after the long-term prevailing bullish trend has been changed in the market. So how do avoid this type of scenario? In this article, we will teach you how to identify the trend reversal in the market like the professional traders. But before we go deep into this matter we must have a clear understanding of the market movement. In general, the market can move in three directions. The market will go up or down or will remain confined in the region which is often called the ranging movement of the market. Always remember that most of the profit is made in the trending markets and experts always wait patiently to execute their trade in favor of the long-term prevailing trend.
More: http://how-trade-forex.com/how-to-identify-the-trend-reversal-in-a-currency-pair

Shiva123
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