Many trading forex strategies can be developed using the turning point, but the accuracy is increased if you just know how to interpret the significance of Japanese candlesticks. Eg. If current online prices are below the central pivot point most of the time, and then make a sharp spike for a given point, while forming a shape in a completely different direction (such as Dodge, meteor), you can sell the currency, since most likely the price will revert back and stop at a turning point.
Another strategy, which traders can use: wait until the price set at a turning point, creating, thus, the zone of support or resistance.Wait, when the price crosses the level of a turning point, turn and follow back to the point. If the price is strong enough to cross the level of a turning point, and continues to move downward, which means that the level of the turning points can not be used as a signal to trading. However, if prices stopped near this level, it acquires special significance and implies that the movement can continue.
If you are well informed about the potential turning points, you'll be much better to understand the fluctuations of the market, and can make more informed decisions.
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