The best entry points in forex

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The best entry points in forexOther People Are Reading

Price Trends

When an exchange rate between currencies is trending, it could continue to move in that direction indefinitely and with little fluctuation in the opposite direction. Traders know that trends provide some of the most powerful forces in the financial markets, and joining them can be highly profitable. However, you must have a good system to identify the trend and know when to enter the trend for maximum potential rewards and lowest risks.

Trend Lines

A trend line is nothing more than a perfectly straight line that you draw directly onto a price chart. To be valid, an up trend line must connect at least three consecutive low points on the chart and be positively sloped. Ideally, no prices penetrate this line, and it clearly illustrates a "floor" for the price movement on the chart.

Trading Trend Lines

The power of a trend line is its clear depiction of potential profit as well as optimal entry points. One you establish that a trend line is valid for a particular chart, all you do is wait for prices to fluctuate back toward the line. If the line holds and the trend remains intact, prices will rebound from this trend line and move higher. Wait to buy at or near the trend line. This entry point gives you a relatively low price in a positive trend. Most importantly, it minimizes your risks since you enter near the potential exit price should the trend break and prices fall through the line. This low risk and high reward scheme creates one of the best entry points in Forex trading.

All trends eventually fail. You cannot rely on any trading strategy for guaranteed profits. For this reason, discipline is key to your success. Never hold onto a trade once its criteria are no longer valid. In this case, if prices penetrate the trend line, simply exit for a small loss and look for the next trend. If you do not see a trend in a particular Forex rate, move on to another currency. You can study dozens of charts looking for trends, so the opportunities are many.