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Abstract:If traders can wait patiently and take decisive responses with the opportunities mentioned here, good performance can be obtained at the end!
The forex market comprises a range of trading days featuring the interplay between two adjacent ones, which constitutes mixed price movements. Among these days, some with evident characteristics can explicitly indicate the real intention of the market, equivalent to unmissable, profitable opportunities! They are presented in detail herein:
1. The day of strong trend trading: An unilateral power controls the market from the opening to the closing, making exchange prices move in the same direction. The situation is conducive to taking advantage of the trend to build positions.
2. High-/low-yield balanced market: When it comes to a fluctuating, balanced market that features high/low profits at the closing, trading in the early phase of the next trading day is beneficial to the closing. It is time to build positions in the direction of closing.
3. Outbreaks occurring in correction areas: The volatility of exchange prices will become drastic if a correction area is broken through. It is the timing of entries by following the direction of outbreaks.
4. Breaks in failure traps: When exchange prices fail to break through the resistance/support level, they will return to the previous range of value, the identification of which should be paid attention to at this moment.
5. Gaps: They can be formed when the long-term trading power enters the market strongly in the phase of opening. Gaps play a role the same as support/resistance levels. Winning rates can also be bolstered if positions are built in the direction of gaps.
The above-mentioned opportunities are relatively safe and reliable. If traders can wait patiently and take decisive responses, good performance can be obtained at the end!
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Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
WEEKLY FUNDAMENTAL GOLD PRICE FORECAST: NEUTRAL
GOLD, XAU/USD, TREASURY YIELDS, CORE PCE, TECHNICAL ANALYSIS - TALKING POINTS:
EUR/GBP PRICE, NEWS AND ANALYSIS:
The dollar was up on Thursday morning in Asia, with the yen and euro on a downward trend ahead of central bank policy decisions in Japan and Europe.