step in determining which pai


Identify the Trend

The first step in determining which pair to exchange is to determine the trend. A trend is described as the market’s current trajectory in recent times; for example, “the AUD/USD has been in a downward trend for the last six months.” Trends can be identified using economic indicators or by incorporating moving averages (MA) into your charts. If the pair has not trended, it is critical to consider an upwards trend before deciding which pair to exchange.


Pairing your Trend with the Trading Strategy

The next step in determining the best pair to exchange is to confirm that those pairs match your trading strategy. If you are trading a trending technique, the pairs you trade must also be trending. If you attempt to trade a trending tactic on a downwards pair, you will end up with a losing strategy. Suppose you employ a trending approach and recognize trending pairs, the chances of becoming a successful trader increase significantly. Additionally, suppose you discover a pair that has been going sideways for an extended period. In that case, it is critical to fit the pair with a spread trading or sideways market trading strategy. You may apply several strategies to each pair, but it is crucial to understand how each pair behaves before trading. Numerous traders make the error of pairing the incorrect pair with the wrong strategy.


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