Side ways market what too do
Posted on Thursday, April 29th, 2010 at 10:58 pm.
As you can see the USDJPY is a perfect time too use the method called the box trade and look for the break out and you can use the trading tool Magic stick for this situation. it’s very easy to trade this you put a line on the top using the buystart command and putting your stop loss at the last swing point on the bottom side as buysl command and buytp at the next weekly pivot point. On the bottom draw a line and put sellstart as the command and then put your stop accordingly and there you go you don’t have too stay up all night and wait for the confirming candle stick and let the magic stick do it’s thing. A friendly reminder make sure your computer doesn’t go into the sleep mode or if you have our virtual server you won’t have too worry about a thing just make sure magic stick is turned on and you see a smilely face and the magic show start.
consolidation slow market what is the best thing to do.
Posted on Monday, March 29th, 2010 at 4:11 pm.
It’s time to wait for the market to make a move there is low volume in the FX market at this time but i’m focus more on the Yen pairs at this time i’m looking to trade the USDJPY GBPJPY EURJPY looking for the clear signal to short it but anything can happen in Forex it may pop back up and then we will have more reason too go short. The YEN markets have got into a over bought area or hitting major support and resistance levels so i’m going to wait on the asian session but i would expect the markets commit during the london session or the new york session and trade these pair back to the origination point of my trendlines.
USDJPY what is it thinking
Posted on Monday, March 15th, 2010 at 8:34 pm.
I was watching the intraday breakdown on the one hour USD/JPY and noticed two things. First I really didn’t have a set up to capitalize on the weakness…on the one hour chart. Second, and this is what turned the light bulb on, price reached the 50% Fibonacci Level support and was testing an intraday double bottom.
Forex learning moments
Posted on Friday, February 19th, 2010 at 9:13 am.
Dr. Blythe here,
Yesterday we saw some moves on the USDJPY and the USDCHF pairs to the overbought on the hourly charts. The learning moment today was looking for overbought as well as oversold on the hourly charts too, and not just the daily charts. We talk a lot about overbought and oversold on the daily charts but the market is really elastic on the small time frames too. So keep in mind as your Forex market knowledge increases the market can look to retrace at these levels. Happy Trading.
