There are many forex trading strategies. Which I can recommend? It is a fully very confusing question. Strategies are built in various ways. For as, some on fundamental base, some on technical base, some on indicator base, some on price action base, some on chart pattern base, some on Elliot wave base, some on harmonic pattern base, etc. Now I am sharing some forex Trading Strategy that are built on a technical analysis base. I absolutely say that these strategies are overall, proven and back-tested, very profitable. So I am describing below-

Support resistance with range Trading Strategy

Legendary investor Warren Buffet says,” buy on cheeps sell on really”. This theory means when the market’s price is in a demanding label then buy it and when the market’s price is in a supplied label then sell it. In trading, demand label means support label and supply label means resistance label. In this strategy, we have to buy in support and sell in resistance within a ranging market. Although, a question can arise, what is a ranging market? Answer –When something stays within a certain area and cannot exit from this area, this calls it in a range. In the forex market when price ups and downs around the certain price label, and not break through the label, and repeats ups and downs more and more times within the certain area. This market condition is called a ranging market.

We are giving an example this ranging market by the market’s chart picture, in the below-

What we have seen in that picture? We have seen in the picture, the market price ups, and downs within a certain area, more and more times. Like as a box, or rectangle. It is a ranging market. This range market’s lower space is support label and higher space is resistance label. How can we confirm that it is a ranging market? When the market’s prices swing low and high retests more and more times both on the support resistance label horizontally, it is a range market. This market’s price retests must be more than three or more times on each side.

How can we do trade in the range market? In the ranging market, we have to take buy trade at a supporting label. Sell trade at resistance labels. For buy trade, we must get confirmation by the bullish price up the signal at the support label. For sell trade, we must to get a bearish price down signal at the resistance label. We prefer this buy-sell signal by the candlestick pattern. We set a stop-loss order for a buy trade lower label of support label and set take profit target to some pips below the range high label. Also set stop-loss order for sell trade beyond the upper label of range high and set TP to some pips high on the lower label of range.

Trend line trading strategy

The strategy now we are going to discuss is the most popular and profitable in trading. For working with this strategy you have to know what is the trend. How to draw a trend line? Then, you can use the strategy. There is a universal truth about trading, “trend is your friend”. So trading within the trend is too fruitful and output able. First time in this strategy we have to draw a trend line. To draw a trend line you have to connect gradual up moving swing low points by an angled line of an uptrend. And also connect gradual down falling swing high points by an angled line of a downtrend. Of those, first, call up trend line and second call down trend line. These connecting swing points must be three or more swing points as too much can connect. After drawing the trend line, you can get ready to buy trade with an uptrend, trend line, and sell trade with a down trend line. We suggest you take a four-hour chart and more bigger charts for trading with this strategy. It is better for getting results. With an uptrend line in a recent swing low, when we get a buy signal then we can enter a buy trade. With a downtrend line in a recent swing high, when we get a sell signal then we can enter for a sell trade.     

We are giving an example by a picture in the below

In that picture we have seen, at first, we connect the gradual every up moving swing low for the draw trend line. Price touches the trend line in every swing low point and gets a buy signal, and also goes up. You have to do trade with this strategy like that picture’s example. It is an example of a buy trade of trend line trade strategy.

We are giving another example of sell trade by the picture of this strategy in the below-

In that picture we have seen, after connecting the gradual down falling swing high point by the trend line, price goes to down after touching the trend line. In every swing high point there is a sell signal and the market goes down. So, sell with a downtrend line in a swing high point, after getting a sell signal.

In this strategy, we always set our stop-loss order beyond the trend line. And set tp to the next swing point or key technical label.

Conclusion

Again we say, if you want to trade with this strategy you must be skillful upon how to catch trends, how to draw a valid trend line. Also, you must know what is swing low and high? One other thing you also do for getting the best result with this strategy is proper money management. There are a lot of forex trading strategies. No strategy can work hundreds of percent of the time. You must, cannot win in every trade, always with any forex trading strategies. We take it as the best strategy if it works more than sixty percent times. So what can we do in this vital problem with trading strategy? Yes, we are giving a solution for this problem. Take a trading strategy. That calls, “money manages mental strategy”. Of course, This Money management strategy works every time and the ratio is a hundred percent successful. When yours loses less than the profit amount. Then you are working with a profitable forex trading strategy.