To a lot of Forex traders, choosing the right Forex Charting strategies usually poses as a big challenge. This is largely due to the differences that tend to exist between them. When it comes to selecting the best Forex Charting strategies to trade with, you are always presented with a choice of either buying off-the-shelf or trawling the internet for freebies. While free Forex trading strategies are good to used, they are mostly not tested and have little or no evidence of reliability.
Here is a compiled list on the best Forex charting strategies in the market. Note that they have been written in no particular order. They are compiled based on the reviews given by successful Forex traders who have used them in a profitable fashion.
1. TRADING THE FOREX FRACTAL:
This is not just a Forex charting strategy but concepts of the market fundamentals which are very vital that every trader knows in order to fully understand the market. It is about what influences the price movement of a security, and why it does.
2. LONDON HAMMER TRADE
When London opens, it presents some unique opportunities in terms of the extra volatility you get. The London Hammer trade is the best strategy to use in capitalizing on these strategies, especially effective during the London session. It can also be used at any point in time when the price is likely to be taking off strongly in a single direction, and possibly reversing from an area of support/resistance just as strongly.
3. THE BLADERUNER TRADE
This is a very good EMA crossover strategy which is suitable for use across all timeframes and currency pairs. It is a trending strategy which tries to pick out breakouts from a continuation and trade the retests.
4. THE BLADERUNNER REVERSAL
As mentioned earlier on, the Bladerunner is a trend following strategy. This type of strategy picks of the entries from situations where the trend reverses and the price begins to trade on the other side of the EMA’s
5. DAILY FIBONACCI PIVOT TRADE
This combines the Fibonacci retracements and extensions with the daily, weekly and monthly or even yearly pivots.
6. THE POP ‘N’ STOP TRADE
This is a simple trick used to determine whether or not a price will continue in the direction of the breakout or not and you must also know it in order to profit from situations.
7. BOLLY BAND BOUNCE TRADE
This is a perfect for use in a ranging market. A lot of traders use it in combination with confirming signals, to great effect.
8. FOREX DUAL STOCHASTIC TRADE
This makes use of two stochastic i.e. slow and fast in order to pick areas where the price and trending but overextended in a short term retracement and about to snap back into a continuation of the trend.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.