There are many ways to approach Forex trading and several rely on subjective interpretations of price patterns or computed indicators.
Many indicators, however, look at markets in exactly the same way. They look at Forex prices as moving largely independent of time and market signals often occur from similar price movements.
Some traders, particularly short term traders, and particularly those that have been trading for a while, take a more instinctive approach to the markets. Often, they have tried numerous technical indicators and now use only one or two favorites.
More importantly, a lot of their decisions in the market are based on gut instinct and intuition. Many claim they are able to ‘feel’ the market and move in sync with the market’s rhythms.
Two types of market rhythm
Being able to feel the rhythm in the Forex market is an important skill and it is not one that is easily picked up with technical indicators. [Read more...]