Want to know, how to predict forex market movement ? check this out guys! ;) basically to predict forex movement are not that hard! in fact, its very easy to do! there's a few way how you can predict forex movement! the most common that almost every forex trader do, is by analyze the current trend! for me personally I always use some simple method to do this!
First I choose 1 pair! for example EUR/USD pair! and then I open 4 chart! I open daily chart, Weekly chart monthly chart and 4 Hour chart! the idea is to get the big picture about over all trend! from monthly trend to 4 Hour trend! if all trend matches then I take action, buy or sell Euro pair! For example, Monthly Trend are down trend, weekly trend are still down trend! most of the time daily chart are going to rise and up temporary! meanwhile 4 hour chart are like picture bellow!
since I already trade for so many many years, this kind of situation are almost happen every time! because in forex biz, short term trend are hard to predict! it mean even monthly trend are down obviously! doesn't mean 4 hour movement will follow weekly trend or even monthly trend! to be honest, at first when I trade forex in my first years, I always wait 4Hour chart and daily chart to cool down, and follow big trend i.e montly trend! but for some reason, it will not give guarantee you will make profit, if that happen! but it will not hurt to try! cause most of the time, 4 hour trend and daily trend can change over time, and follow the big trend! but if you trade big lot! for sure, your account will get burn easily in short time!
my suggestion is, if you trade by following the trend, never or ever trade with big lot! try to trade with cents! because daily movement can move hundreds point against the trend! imagine if your forex trading stuck with losses! 😎 yep! you will have big headache and stress! but if you trade with small lot, or cents! trust me! you will not hesitate to cut the loses and move on!
Trend analysis are not the only way to make profit! there is another way! try to analyze weak and strong currency! I always add this analysis between trend analysis and weak and strong currency! but of course, for noobs, this kind of trading, can make you confused! because most of new trader are only focus on 1 pair!
so, the question is, how to analyze weak and strong currency ? 😎 to be honest doing that is not hard! but for new trader, of course you will need some indicator! but at this moment, there's no such a things! you will need third party tools to recognize the strongest and the weakest currency! but I can sure you! if you find using google search, you can find it almost immediately! to be honest, I forget their website name, that providing weak and strong currency! but don't worry! just find it on google!
if you already know the weakest and strong currency! combine with trend analysis! for sure, it can increase the accuracy! Though, I already try this kind of method! and the risk are always there! so be careful! but for hobbies, I think ! if you combine this 2 analysis it will make your account survive for the next 6 month! 😎
next time I will try to cover about fundamental analysis! because if you combine these 3 analysis! trend, weak and strong currency, fundamental analysis(or news economic) plus with market sentiment! your forex trade will much much more better! and make decent profit! don't forget to bookmark my blog! ciao! 😎