Forex Trend Trading – Part 1: Is The Trend Your Friend?
Is the “trend your friend”? That’s a question I think everyone should answer based on their own experience. If your anything like most, however, you probably find that you enter trades too late, don’t stay in long enough, or take them to early. Either way the trend, in the traditional sense of the word often end up being at best a “fair weather friend.”
Why is that? The key lies with the driving force behind trends in the forex market….the banks. The banks tend to drive the FX market is a series of 3 cycles which often traps retail traders on the wrong side of the market. This cycle is found not only on a weekly scale but also on an intra-day scale. If we understand how smart money moves the market over the course of a week, we can then learn to trade forex with them, rather than fighting smart money.
Watch Part 2 Here: Forex Trend Trading Strategy – Part 2: Retail Trader Manipulation
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