Traders across the globe have been confounded by a growing phenomenon; one that has perplexed the savviest of fund managers. Financial headlines are talking about it, and it’s a ‘hot-button’ issue to many currency traders right now – and that is the weakness that’s been seen recently in the Japanese Yen.
Many traders will rely solely on an indicator, Stochastics, MACD, RSI, CCI, etc., to determine their entry point for a trade. If the indicator signals a buy, they buy. If the indicator signals a sell, they sell. This article will offer a higher probability strategy for using your indicator of choice: only take entry signals when they are in the direction of the trend.
Ichimoku is an exciting technical trading system that was developed in Japan before World War II, and has been in use since. This article will walk through some of the Ichimoku setups available to traders right now.
In the intro to Part I on this topic, we mentioned that there are two main steps that a trader can take to increase the chances of a trade hitting its profit target: trade only the strongest trends and be sure that the pair has the “room to move” to the limit. The Room to Move aspect was covered in Part I. In Part II, we will cover how to determine the strongest trends.
The Forex market moves fast… very fast. This strategy can help traders focus on, and enter trades in the strongest short-term trends that may be available - in one of the fastest markets in the world.
The USDCAD continues to trade in a range for the 9th week in a row. Traders look to set fresh entries on support near .9850.
GDP numbers are on tap next week for the UK. GBPUSD traders will be primed to set fresh entry orders on increased event volatility .
There are two main steps that a trader can take to increase the chances of their profit target being achieved and both are taken before the trade is ever opened. Be certain to trade only the pairs that are in the strongest trends and be sure that the pairs have the “room to move” to hit the profit target. In Part 1 we will cover determining the “Room to Move”.
The AUD/USD has declined 185 pips over the last two trading days. Its correlation to silver makes it a viable candidate for new breakout entrys.
Ichimoku is an exciting trading system that has been in use since before World War II. This article will look at some of the pending setups Ichimoku traders around the world are examining.