Involve technical analysis
Admittedly or not, the market always reacts to news, data, to any outstanding rumors. The reaction is seen from the rising or falling prices. That means all information whether it be inflation data, monetary policy issues, or political issues by itself “melted” into the behavior of price movements.
Talking about opportunities through price movements means you need technical analysis. Inevitably, you can choose to learn technical analysis more deeply through Vortex assets. In forex trading strategy especially short term, technical analysis is a very important tool.
What are the minimum you should know, related to technical analysis? Here I try to review.
There are several indicators that you can use to determine when to open a buy or sell position. At Vortex assets, their team of analysts uses the stochastic oscillator and Commodity Channel Index (CCI).
The point to be emphasized is that the two technical indicators only provide guidance in the form of: overbought and oversold condition, as well as buy (buy) and sell (sell) signals. Both indicators are not a benchmark trend direction, as one understands most traders.
Therefore, make sure the signal emerging from both indicators is a signal that is in line with the trend. So if you want to open a buy position, then as a trading strategy you have to confirm that buy signals appear on the stochastic and CCI when the price is in the uptrend. In contrast, a sell signal that can be considered valid is a sell signal that appears during a downtrend. That is the rule of using indicators in forex trading.
To learn stochastic for forex, CCI you can see through platform like Vortex assets and also you can learn the combination of trend line with indicator from there.