These three market phases require different forex strategies.
Strategies that will be extremely useful for each of these market phases do not just differ; they can starkly contrast each other.
The most appropriate and effective forex strategies for a market in the trending phase should protect you even in the event that the market does not actually veer toward a specific direction.
This means it is better to wait a bit until the trends are confirmed before you enter the market, so you won’t be at risk of a false entry.
By looking for these high and low figures, it expects the market to start a reversal at these points because of the absence of a trend.
This will help you get a good performance.
One of the recommended forex strategies for the counter-trending phase of the market is the Bollinger bands principle, which works when the bands are more or less flat.
The principle of the Bollinger band is known as one of the most useful tools of technical analysis.
It was developed by John Bollinger in the 1980s.
Essentially focused on with a moving average between two different bands trading.
The Bollinger band can effectively compare the high and low prices in the market in relation to your previous trades.
Forex scalping is considered a generally risky technique but it also offers good profit potential and at least some protection against changing market trends.
An hour in a market consolidation stage can already equate to several different trades for a forex scalper.
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