Every market goes through trading cycles. There is no exception to this. Be it the Stock Market, The Futures or the Forex market. They all go through different phases. In this brief article, I wish to point out the different phases in the Forex market, identifying which, will help the trader know when to stay in the market and when to stay out.
Range Days: Historically, it has been seen that nearly 80% of the time, the market stays in a range. Range days are when the currency stays at a certain price limit and trades within it. For example, on a typical range day, the GBPUSD will stay within a low of 1.9600 to a high of 1.9675. This maybe the case for a day or, at times continue the whole week before a breakout appears. This is also called as “Calm before a Storm”.
Rally Days: Again, historical studies have proved that the market rallies only about 20% of the time and when it does, it creates new trends and levels. Rally days usually happen when price breaks out of the range and establishes a new high or low.
Strange Days: Strange days are those days when the market hardly moves at all. It is as if the financial world is on a vacation and...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
