These 3 Things Can Be Profitable on Forex

Forex trading, also known as forex trading, is currency trading from different countries with the aim of making a profit. In this case, forex itself stands for Foreign Exchange or it can be called foreign exchange.

On an international scale, foreign exchange or foreign exchange trading is often carried out by various parties, ranging from governments, central banks, multinational companies, to certain individuals who have large amounts of assets or big players. Currency buying and selling transactions that occur between various parties do not occur in a market with a physical building, but in an invisible network called the "forex market".

Along with technological developments, forex trading can reach a wider scope. Through the internet, forex trading can now be done by anyone, anytime, and anywhere. Nowadays, everyone can trade forex.

Trends

One way to look for profit opportunities in forex trading is to detect price trends. In the world of trading, a trend is a representation of market strength. Traders must be friends with the trend, if traders are against it it means declaring hostility to the market.

To get maximum results, traders must be able to identify an ongoing trend. Without a good understanding of trends, it is certain that traders will have difficulty determining market entry positions. Unfortunately, trends are volatile and dynamic, so from time to time trends will continue to change.

Levels (SNR)

Support and resistance are likened to the two most discussed attributes in analysis where support is a level that has the potential to withstand price declines. Meanwhile, resistance is a level area that has the potential to hold back price increases. This level is used to determine whether the price will continue or reverse.

Basically SNR aims to find out the right area when taking a buy or sell position and determine targets for price movements. The support area is generally an area used as a reference for looking for buy positions, while the resistance area is used as a reference for looking for sell positions. Support and resistance are not sufficiently understood in theory, but traders need to take advantage of the help of technical indicators or certain methods of mapping price movements.

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