The dollar is in rough shape right now against multiple currencies. But the beauty about Forex trading is that even bad news is good news. Here are three ways we’re taking advantage of the falling dollar.
Easy Breakout Forex Trades On USD Pairs
One thing is for certain; the dollar is sailing through some choppy waters. A tough winter has set the stage for a struggling greenback. The US government is trying to be optimistic. But some economists are predicting a recession in 2015.This means any growth the dollar gains could be followed by large selloffs. This is a great chance to find easy pips across several USD pairs using breakouts. Keep your Fractal Breakout Indicator running on EURUSD, USDJPY, and USDCAD to spot these big Forex trades well before they happen.
Hedge Your Bets
As the dollar teeter-totters over the next few months your charts will be ripe with small hedge trades. Hedging is a great way to open a long term Forex trade and still make pips in the opposite direction from smaller Forex trades.Hedging manually is not for the faint of heart. It takes a lot of skill and know-how to determine when to hedge. We use the Hedge Forex Robot to find our hedge trades for us. So far this month it has done pretty well.
Confirmations From Several Time Frames
Confirmations are easy when a currency is struggling like the dollar is. The easiest Forex trades can be found when smaller time frames align with the H4 or D1. Depending on the strength of the larger trend you could be in for a lot of pips.We’ve setup the HAS MTF Forex Robot on all USD pairs to easily monitor all time frames for us. It actively scans all 8 time frames of any chart it is attached to. Without it we would be missing these Forex trades.
Take Advantage Of A Unique Situation
When the dollar struggles it creates a unique chance to find some easy Forex pips. By automating your Forex trades you can cover all of your bases and get the most from this perfect storm.