going down most strongly. This also tends to work well and in fact tends to produce a greater reward to risk ratio than simple momentum strategies. It is simplest to make this calculation each weekend using weekly open and close prices, as a period of 13 weeks approximates nicely to 3 months. Nevertheless, such Momentum Forex strategy recommends opening transactions only after confirmation from additional indicators. There is no reason why you cannot add currencies, although the more exotic you get, the more expensive they get to trade. In order to gauge momentum besides reading the best forex momentum indicator we also look at the actual price action.
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On the small periods and during unstable volatility its signals in general cannot be trusted to as its line is redrawn and the previous signals are cancelled. Now, its time to focus on the Williams R the best forex momentum exhange rate nok euro indicator which brings to the next step of our momentum indicator strategy. Step #3: Wait for the best Forex Momentum Indicator to get oversold (below -80) and then rallies above the -50 level before Buying. I like to use an hourly chart with a 3 period EMA and a 10 period SMA. Strategy is based on multiple currencies, stable results are yielded by the main pairs - EUR/USD, GBP/USD, AUD/USD. In this regard, the momentum trading strategy besides using the best Forex momentum indicator also incorporates the price action. Inversely the same is true in a downtrend. Use the same rules for a sell trade.