Status update!
I have found that a divergence forex strategy can be quite effective. This strategy involves looking for discrepancies between price movements and technical indicators. For example, if prices are moving in one direction while the technical indicator is moving in the opposite direction, this could indicate a potential reversal or continuation of the current trend.
When I identify such divergences, I use them as a basis for making trading decisions. This could involve entering or exiting trades, or adjusting stop loss and take profit levels. I have found that the strategy is particularly useful when combined with other technical analysis tools, such as trend lines and support/resistance levels.
Overall, the goal of the strategy is to profit from the market's tendency to correct itself when there are divergences between price and indicators. By carefully analyzing these divergences and making informed trading decisions, I have been able to achieve consistent profits in the forex market.
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