These strategies are generally easier to understand and are excellent starting points for those new to Forex.
At its core, price action trading is about understanding and interpreting price movements. Charts become your best friends, with candlestick patterns providing clues about future price direction.
In a ranging market, prices oscillate between a high and low range. The key is to identify these ranges and trade accordingly.
Trend traders often have a mantra: "The trend is your friend." The core principle here is to identify and then trade in the direction of a prevailing trend. Typically, moving averages, trendlines, and other technical tools are employed to ascertain the direction and strength of a trend.