First we MUST wait for BoJ and FOMC – then we’ll know where everything goes.
Positioning yourself prior to such a big decisions is suicidal.
Technically speaking, that support at 89.800 has to hold for continuation of the Uptrend –
If lost, next one that can underpin it is at 85.300
Now this is where that knowledge on trading crosses comes to play – Based solely on the chart, I would tell you that we’ll be seeing few more weeks down at least….but it all depends on Majors…and it all has to wait on BOJ and FOMC !!!
I have added some of my Channel lines , so now you have a channel within channel .
I am going to ask Jay to explain basics of Cross trading – when you have much more influence on rate of the cross coming from Majors like USDJPY & NZDUSD – it is very important to understand that part , as charts might not be enough to trade such a pair like NZDJPY
I was thinking how to help every single one of you , without making a chaos out of lessons.
So here is the way :
–         In the upper right corner – just right of the Login/Register is a Search Button
–         Click on it and type in a subject you want to see – like : stop loss, moving averages… for example – wait a few seconds and you’ll see lots of articles below
–         Read them and whatever you find not clear or confusing, ask questions here
–Â Â Â Â Â Â Â Â Â I am going to go with classes at my own pace ( same goes for Jay in Common Sense Trading) , but each time someone comes up with an interesting question that needs longer/more detailed explanation, we will do it in our Classes.
Thanks for resonding on the previous post.
EURUSD DTF is showing a down trend according to my trendline.
I think the down trend is going to reach 1.06935
Check out the site slowly and feel free to ask any question.
Go to the Blog and start reading it from the early beginning – every article that was written so far covers an important piece of the Market andTrading and will give you lots of info that you should know.
Here in Discussion Boards you will find Lessons – both in Common Sense Trading and Trading Academy .
We have just started it, so you came at the right moment.
All questions you might have write in Q&As for both of them.
There is a Trading Hot Line – for those of you that might have an emergency question/problem in real trading.
We are trying to go slow , so everyone can understand what we are talking about.
Do not be shy, as the only way to learn is to ask questions when it is not clear to you.