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The Complete Idiot's Guide to Foreign Currency Trading, 2nd Edition by Lita Epstein, Gary Tilkin

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Chapter 10
Identifying the Trends and Your Trades
In This Chapter
• Testing the relative strength
• Finding double tops and double bottoms
• Anticipating market reversals
• Retracements by the numbers
Forex trading can be thrilling, surprising, and often frightening. If you get into the market without a solid plan and a sound foundation in technical and fundamental analysis, it’s like getting on a roller coaster without a safety harness. Any major change in direction of the pair you’re trading and you’ll be tossed right out of the market (or off the roller coaster).
Luckily, with forex trading there are safety harnesses you can put on, because the forex market has clear trends that can be identified. Although the market does have periods of increased ...

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