2 Best Forex Trading Trends to Follow in 2018

Every trade in Forex follows a trend, without one, trading would be no different than gambling! From long-term trends that extend months, to short-term trends that last a few minutes - patterns are everywhere in Forex! They just need the right eyes to capture. Each price movement is profitable in its own way and poses a substantial risk all the same. With random movements occurring so frequently, getting your hands on potential profits can be immensely difficult! Evil with the entire short, long-term trend following, winning foreign exchange is a challenge.
 

Here are two stellar trends following strategies to use in Forex:

Forex Trading Trends 2018

1) Using Breakouts: Bullish trade trends predominantly see breakouts. Every trade at one point or another, under the good market condition, experiences a breakout. When you are on the high tide, a big trend is immensely valuable. Long-term Forex traders wait months to catch a big fish and sail the profitable wave! The best way to be on the dominant side of every trade is to buy breakouts. As a smart trader, your first watch for levels with strong resistance and wait for them to break. These events have a slow rate of occurrence, which is why; patience plays a crucial role in winning breakouts. 

Winning these trades isn't as arduous as it seems. Equip yourself with an adept Forex trading strategy - one that goes over chart patterns, potential price drops/risks, and focuses on catching a rising trend, and keep the right indicators in place. With this done, you can capitalize on breakouts mighty well!
 

2) Milking the Trend: Forex trading poses a significant challenge to every trader. To be successful in the long run, you have to know the difference between being brave and being foolish! There is a fine line segregating this difference. Many Forex traders, consumed by leverage, emotions and the need to make more money, don't leave a trade. They hold positions until their account burns out and losses make the home. On the other hand, there are players who back out after a small profit, which only barely places them at breakeven. To win a trade, you have to capture the best of both said examples. 

Trade too much, and you will lose everything; trade too less, you'll not win anything! When you notice a trend, hold it and try to milk it for what it's worth! Keeping early stop orders will snatch the chance of a potential profit away from you. Grasp market movements and accordingly make a decision.
 

It takes years for professionals to stand atop Forex trading. With such lucrative openings, there has to be an element that makes currency exchanges a challenge! However, the right Forex trading strategy in the right hands can reel in the best of profits. Get yourself an excellent Forex broker today, and dominate your trades! Call WesternFX now, and hire from our arsenal of superior brokers. They will guide you through each endeavor and ensure you emerge victoriously.

4 Types of Charts in the Forex Exchange Market Nepal

To survive the complex world of Forex trading, analysis and research are a must. From knowing entry points to setting stop orders, most of the generic operations involved in foreign exchange rely heavily on chart analysis. Building Forex charts help traders understand the market better and make profitable calls. With well-drafted charts, players can conduct in-depth technical analysis and take educated decisions.
 

Four factors are considered while developing a chart in Forex:

Online Trading Chart Patterns

1) Opening price.
2) Closing price.
3) Maximum price.
4) Minimum price.
 

With these in mind and variables in play, any type of online trading chart can be constructed. Here are the different types of graphs:
 

1) Tick Chart: A very small scale depiction, this chart shows single price changes in the market. There is no sort of binding between this and the time interval. Tick charts serve incredibly well for market analysis. It's a typical bar chart, and with parameters like an opening, closing point, highs, and lows, catching a profitable wave is easy for any Forex trader!
 

2) Bar Charts: A bar pattern shows the opening, closing prices and the peaks, drops of the same. This is represented in the form of a vertical bar. The bottom shows the lowest price, while the top denotes the contrary. Similarly, the left side hash denotes the opening price, while the right denotes the closing.
 

3) Linear Graph: Linear charts are a simple connection between closing prices. When done sequentially, it generates a graph containing various closing prices. These serve as opening points for newer trends. Though price changes can't be evaluated as such, this methodology helps in placing stop orders.
 

4) Japanese Candles: An immensely flexible method, Japanese candles can be used across multiple timeframes. Depending on which timeframe they've been implemented on, respective price action is described. The "body of the candle" is the difference between opening and closing prices. If the latter is lower than the former, the body will be black. The opposite scenario results in a white body.
 

Backed by strong research and a good grip over trade charts, Forex trading can be mastered easily! Several traders incur losses due to poor planning and haphazard execution. Don't make the same mistake! Get yourself a world-class Forex broker to aid you with your ventures - call WesternFX. We house an arsenal of stellar minds, who will assist you with superior strategies and impeccable platforms. Avail our services today.