Strategy Video: A Short and Long-Term Look at the Majors
• When we focus too much on the short-term trading picture, we can be slow to respond to major trend changes
• Just as critical, a long-term preoccupation can lead us to miss great and timely trades
Market conditions change, and our strategy should reflect those changes. We have coded the DailyFX-Plus strategies for Breakout, Range and Momentum to adapt to these market shifts.
It is necessary when trading to adapt to the markets as they change. One aspect of that flexibility is trading the market type we are faced with while also recognizing when bigger changes in trend or activity level occur. A means for keeping grounded on both sides is to regularly review a 'shorter' and 'higher' time frame view of the pair or market you are trading. We do just that for all the majors in today's Trading Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.