There are dozens of forex markets. How do you know which market is trending and which is profitable to trade?
You need to open trading pair and see is he in the trend or not. Is he moving sideways.
Which trading pair to choose so you are profitable you cannot just say like that. Any trading pair can be profitable and that depends on the trader.
If trading strategy works you will be profitable.
If you are looking which pair is most volatile that can be, but not mandatory, profitable you can check volatility analysis of each trading pair and compare them.
@tuulkgm Its always best to trade a major currency pair as they is high levels of liquidity meaning you can always buy and sell. Plus its easier to get information.
The main thing when picking a currency pair is to understand the underlying forces behind the pair. E.g USD/JPY is a classic risk on/risk off play.
But to answer you question more precisely the pro’s pick one or two currency pairs and really focus on them so that they can spot mini-trends that only someone with experience of trading can spot…So the more screen time you have you will naturally spot trends.
Personally I would leave whats trending to twitter.
Trend is the most basic pattern and you must be able to decide objectively whether price is trending right now or not, and whether it is an uptrend or a downtrend. These judgements only apply in one time-frame: it is common for a chart to show price in an uptrend in one time-frame and no trend at all in another. Deciding first which time-frame you will trade in is better than looking at all the time-frames for a trend and then trading in that time-frame where you found a trend.
Even in your one selected trading time-frame, your definition of trend must match your strategy.
I trade off D1 charts. For me, price is in an uptrend if the 20EMA is above the 50EMA and both are sloping upwards. When I see that set-up I start to look for a long entry point.
got some good information , thanks for your nice post.