Finding a high probability entry in the Forex market is often seen as the most important aspect of Forex trading.
Forex trading is however all about probabilities and all we are trying to stack the probabilities of success in our favour. Thus, the failure should be expected as the Forex trading market price, but by focusing on making the best forex trading strategy will increase your probability of success.
First, know a lot of ways to enter the Forex trading market as you can. This will improve your knowledge of market behaviour but makes you a complete multi-skilled trader. You need a technique that can be used in sideways, slowly trending, trending faster, spiky, consolidating, reversing, random up and down market conditions because that is what the market does all the time.
Bounce retracement, breakout and technical trends should cover most of the market conditions. Increase the volume of trade channels, support and resistance, fatigue price, trade grid, the kind of technique should include a bounce trade. Bounce trading is when a turning point is made and the price bounces back to its original direction.
Trend line offence, blotchy pattern or advanced price, support and resistance offence, straddles, some moving average technique is an example of the trading breakout. Breakout trading when the price breaks through support or resistance created a new trend.
Support and resistance, moving averages, fractal indicators, trend retracement entries, Fibonacci levels are examples of trending techniques used. Trending techniques are used when the price is in an established trend such as the six to nine hundred pip one-way trends experienced by the Euro recently.