Finding forex trading strategies are really not that difficult. In stocks, there are a myriad public and private trading venues in which to use algorithms - upwards of 40, while the Forex market is traded by, or on, major bank trading desks - also known as the principal bank trading market or spot forward market.
However, the fragmented OTC nature of the FX market makes it difficult to implement some of the more sophisticated trading strategies due to lack of transparency from FX brokers and their limited supply of liquidity (pricing that is mostly recycled).



Fading strategy is extremely risky since it means trading against the prevailing market trend However, it can be advantageous as well - fade traders can make profit from any price reversal because after a sharp rise or decline the currency it is expected to show some reversals.
They are used both to confirm the trend and the quality of chart patterns, and to help traders determine the buy and sell indicators can be applied separately to form buy and sell signals, as well as can be used together, in conjunction with chart patterns and price movement.
And let's be clear, the minuscule group of forex traders that are able to achieve such mastery, have excelled at key areas such as trading psychology, risk management, which are by far the most important, but they've also taken ownership of a methodology that will determine when they enter and exit the markets to amass their hard-eaed pips.

Now you can trade with MetaTrader 4 and MetaTrader 5 with an advanced version of MetaTrader that offers excellent additional features such as the correlation matrix, which enables you to view and contrast various currency pairs in real-time, or the mini trader widget - which allows you to buy or sell via a small window while you continue with everything else you need to do.
First, notice the bullish tailed bar on the far left of the chart, this was clearly an important turning point from down to up, so we will draw a horizontal level at the low of that bar; this level would once again be relevant if price fell back down to it. Then, notice price entered into a period of sideways consolidation for almost two months, before breaking up and out of it. However, after the breakout, price chopped slowly higher and then formed a bearish pin bar at 1237.00 area; a resistance level we had previously marked on the chart.

It's really no different in trading; you have to build a narrative in your head from the market you are analyzing, and you do this by looking back in time, plotting levels, analyzing the price action and then keeping up with the market each day at the close, adjusting levels or adding news ones as necessary.
Exit strategy: you can choose between simply using a time-based exit, which should be between 5 and 8 days (the upper limit has historically given the most forex trading strategies profitable performance) after entering the trade, or some kind of a trailing stop once the price has reached a floating profit at least double the risk.
There are a lot of other strategies which rely upon various quirks or fundamental or sentimental criteria, but these either tend to not be profitable over the long-run or are overly complicated and requiring of more discretion than a beginner can safely exercise.

Using Fibonacci in combination with indicators showing momentum or strength of the current market can give you a strategy to be profitable on a consistent basis because a mathematical rule in forex is "what has happened before will happen again - history repeats itself".
However, this typically positive emotion also comes with a darker side of overconfidence that can be a danger to traders if they're not mindful of it. After a series of successful trades, it's perfectly normal to feel the buzz of excitement and self-assurance that you know what you're doing, but with global currency markets often moving unpredictably, you can never afford to rest on your laurels and think you know best.