Forex daily chart analysis
Your risk should be set with an eye towards a percentage of your trading capital. In Forex, we have many variations of lot sizes we can trade so while the protective stop in pips may be large, it can still be a small percentage of your risk capital.
We all know that a market will trend and consolidate. It will repeat this over and over again. An uptrend will eventually turn into a downtrend and the opposite is also true.
EURUSD Live Chart | Forexlive
In between a full blown trend change, we will get corrective moves and that is what this simple daily chart trading strategy wants to capitalize on. We want to see price meet up with one of our Fibonacci levels and confirm with our stochastic oscillator.
Trade Secrets: Why We Trade The Daily ChartThe rules are quite simple and this is a pretty easy Forex strategy that you should be able to replicate. Just follow the trading instructions listed below.
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