Types of Forex Trading Strategies

Forex trading strategies define the techniques used by traders to determine when to open or close a trading position. There are various forex strategies that traders can use including technical analysis or fundamental analysis. A good forex trading strategy will make it easier for a trader to analyze the market and confidently execute positions with good risk management techniques.

Range Trading Strategy

Range trading includes identifying support and resistance points where traders will place trades around these key levels. This strategy works well with no significant volatility and no visible trend. Technical analysis is the main tool used with this strategy.

Trading length: There is no certainty how long the trading position will be because this strategy can be used for any time frame. Managing risk is an integral part of this method because breakouts can occur. As a result, traders with this range strategy want to close any positions around the current timeframe.

Entry/Exit Points: The oscillator is the most frequently used as a timing tool. The Relative Strength Index (RSI), Commodity Channel Index (CCI), and Stochastics are some of the more popular oscillators. Price action is sometimes used in conjunction with oscillators to further validate signals or range bound breaks.


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