Guide to operating in the currency market - how to find the leaders in currencies

2023/2/25 9:53:21  read(3)

Trad howtocopyforextradingg can be simple but not easySimple because all it takes forextradingsignal to identify the strong best forex copy trading in an uptrend or the cashback forexak currency in a downtrendOnce identified, we can buy the strong currency before the trend endsHowever, once the trend ends, then which currency will be the leader next can often leave us confused This article will provide a framework to help traders Identify the next strong or weak currency pair to take advantage of the favorable risk-reward ratio Dont always count on one currency or one trade  When the original trend is no longer in place, if traders choose to stay on the original trend and wait or continue to chase the short, that could be the start of suffering lossesWe saw above that the euro has continued after falling to the 2013 low of 1.2750 The euro has continued to move upwards, approaching the May high of 1.3992, but in just a few months, due to the Bank of Englands policy, it has returned to the 2013 lows and could move further down Just like the euro in early 2014, a currency that was in the lead one second could change the next, so when it is no longer in the lead, we must be more flexible to find the next currency that could Traders know that currencies go through strength to weakness, but it is difficult to determine which currency will be the next leader. Although we cant guarantee its accuracy 100%, we can analyze it to determine its likelihood First you can find the currency by the general trend, and then see if the currency is rising against all other currenciesWriting this article When the British pound just meet the conditions we said, the pound against the euro, the yen, the Australian dollar are up state, in addition to the major currencies U.S. dollar if the dollar weakens, then the next strongest currency is the pound  Next we have to inquire about the fundamental news that may have an impact on the market fundamental news is also a move by the central bank, or a series of possible impact on the direction of the currency News in early 2014, the original weak AUD/USD in the positive economic data and central bank policy support to reverse the turn up When the currency strength is no longer This article is based on your ability to judge the next strongest currency by observation, like the beginning of said, todays strong trend does not mean that tomorrow is also, so traders to identify the next leader in time but because we We should also have a clear understanding of whether the currency we are bullish on is the strongest currency or not Because we want to enter early, the basis used to judge may be insufficient, so we should be more careful to guard against the risk of reverse price fluctuations and be brave enough to close out of the market when we have a small loss I consider the previous low in an uptrend as a support level, if the If the currency does become the next strongest currency, it will not fall below that support level. Similarly, I take the previous high in a downtrend as resistance, and the price will not break through that level if the price levels I set are broken, you should close your position decisively, because the best technical indicators are no match for the real price fluctuations