I m a newbie in forex trading and i would like to know whether there is any way to detect the trends early enough to earn some nice profits.
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I m a newbie in forex trading and i would like to know whether there is any way to detect the trends early enough to earn some nice profits.
i think you may can predict if you have the good knowledge on that particular pair economic situation and technical analysis or fundamental analysis can make few pips daily but first you have to improve yourself and have a good knowledge
yes there is and you can detect the trend from the first candle.... well when there is a huge rise or down so the first candle with the deference color this mean the back of the market and we use also the pivot points to select our trend from the beginning
Yes my friend. we can to know the trend of market movement by technical analysis, we can use any indicator to assist us in analyzing the market movment and to know where are the price will move...
trend are flexible
there are smaller trend, and bigger trend
try to read different trend in past charts, and see how smaller trend creating bigger one
so in order to follow a bigger trend, try to follow the smaller one first, you will see there will be several retracements that trying to counter the trend, if the retracements are strong enough it will become reversal, if not, it may becoming sideways or following the previous trend
sound easy, but it's really hard to trade and gain profits based on this theory, traders gonna need a good anaysis to gain here
always mind that, trend is your best friend. to detect the trend easily, you need to practice it in demo account about how to draw a proper trend. when you practice more then you can easily detect it. there are more option in trading terminal to draw the trend line, you can try this.
i think , if you wana got some earlier trend to gain some profit then you must use an indicator that can helps you to analyses the market trend to make strategies. There are lot of indicators are available to download on internet.